Coded Smart: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Coded Smart
Largest movements
- Receivables after one year -€25,000
down €25,000 (-31.3%), from €80,000 to €55,000
- Receivables within one year -€19,149
down €19,149 (-46.0%), from €41,643 to €22,494
of which Trade receivables: -€24,285
- Tangible fixed assets -€5,871
down €5,871 (-42.8%), from €13,717 to €7,846
- Reserves -€32,288
down €32,288 (-17.8%), from €180,899 to €148,610
of which Distributable reserves: -€32,288
- Tax, wage and social debts -€9,005
down €9,005 (-42.6%), from €21,129 to €12,124
of which Taxes: -€9,005
- Current portion of long-term debt -€5,252
down €5,252 (-80.9%), from €6,493 to €1,241
- Trade debts -€2,262
down €2,262 (-87.0%), from €2,601 to €339
- Gross operating margin -€20,140
down €20,140 (-28.5%), from €70,613 to €50,473
- Taxes -€5,380
down €5,380 (-28.5%), from €18,848 to €13,468
- Financial income +€1,200
up €1,200 (+49.2%), from €2,440 to €3,640
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €211,208 | €162,315 | -€48,892 | -23.1% |
| Fixed assets | 21/28 | €13,717 | €7,846 | -€5,871 | -42.8% |
| Tangible fixed assets | 22/27 | €13,717 | €7,846 | -€5,871 | -42.8% |
| Furniture and vehicles | 24 | €13,717 | €7,846 | -€5,871 | -42.8% |
| Current assets | 29/58 | €197,491 | €154,470 | -€43,021 | -21.8% |
| Amounts receivable after more than one year | 29 | €80,000 | €55,000 | -€25,000 | -31.3% |
| Other amounts receivable | 291 | €80,000 | €55,000 | -€25,000 | -31.3% |
| Amounts receivable within one year | 40/41 | €41,643 | €22,494 | -€19,149 | -46.0% |
| Trade receivables | 40 | €39,531 | €15,246 | -€24,285 | -61.4% |
| Other amounts receivable | 41 | €2,112 | €7,248 | +€5,136 | +243% |
| Cash at bank and in hand | 54/58 | €72,827 | €73,751 | +€924 | +1.3% |
| Deferred charges and accrued income | 490/1 | €3,021 | €3,224 | +€203 | +6.7% |
| Total equity and liabilities | 10/49 | €211,208 | €162,315 | -€48,892 | -23.1% |
| Equity | 10/15 | €180,900 | €148,611 | -€32,288 | -17.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €180,899 | €148,610 | -€32,288 | -17.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €180,899 | €148,610 | -€32,288 | -17.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €30,308 | €13,704 | -€16,604 | -54.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €30,223 | €13,704 | -€16,519 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €6,493 | €1,241 | -€5,252 | -80.9% |
| Trade debts | 44 | €2,601 | €339 | -€2,262 | -87.0% |
| Suppliers | 440/4 | €2,601 | €339 | -€2,262 | -87.0% |
| Taxes, remuneration and social security | 45 | €21,129 | €12,124 | -€9,005 | -42.6% |
| Taxes | 450/3 | €21,129 | €12,124 | -€9,005 | -42.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €85 | €0 | -€85 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,732 | €9,231 | +€499 | +5.7% |
| Other operating charges | 640/8 | €1,001 | €1,409 | +€408 | +40.7% |
| Gross operating margin | 9900 | €70,613 | €50,473 | -€20,140 | -28.5% |
| Operating profit (loss) | 9901 | €60,881 | €39,834 | -€21,047 | -34.6% |
| Financial income | 75/76B | €2,440 | €3,640 | +€1,200 | +49.2% |
| Recurring financial income | 75 | €2,440 | €3,640 | +€1,200 | +49.2% |
| Financial charges | 65/66B | €538 | €828 | +€290 | +53.9% |
| Recurring financial charges | 65 | €538 | €828 | +€290 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €62,783 | €42,647 | -€20,136 | -32.1% |
| Income taxes | 67/77 | €18,848 | €13,468 | -€5,380 | -28.5% |
| Profit (loss) for the period | 9904 | €43,935 | €29,179 | -€14,756 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,935 | €29,179 | -€14,756 | -33.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.