D SMART SOLUTION: 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.
D SMART SOLUTION
Largest movements
- Receivables within one year +€58,248
up €58,248 (+28.7%), from €203,032 to €261,280
of which Trade receivables: +€61,280
- Cash -€11,937
down €11,937 (-13.8%), from €86,207 to €74,269
mainly Receivables within one year (-€58,248) and Other debts (-€26,404)
- Tangible fixed assets +€11,490
up €11,490 (+32.7%), from €35,153 to €46,643
of which Other tangible fixed assets: +€12,920
- Deferred charges and accrued income +€8,022
up €8,022 (+20.0%), from €40,022 to €48,044
- Reserves +€77,923
up €77,923 (+34.6%), from €225,317 to €303,240
- Other debts -€26,404
down €26,404 (-22.8%), from €115,866 to €89,462
- Trade debts +€10,160
up €10,160 (+13,309%), from €76 to €10,236
- Tax, wage and social debts +€4,805
up €4,805 (+272%), from €1,769 to €6,574
- Gross operating margin +€111,473
up €111,473, from -€6,687 to €104,787
- Taxes +€21,439
new in 2025: €21,439
- Other operating charges +€2,249
up €2,249 (+179%), from €1,256 to €3,504
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 | €364,414 | €430,237 | +€65,823 | +18.1% |
| Fixed assets | 21/28 | €35,153 | €46,643 | +€11,490 | +32.7% |
| Tangible fixed assets | 22/27 | €35,153 | €46,643 | +€11,490 | +32.7% |
| Furniture and vehicles | 24 | €10,712 | €9,283 | -€1,430 | -13.3% |
| Other tangible fixed assets | 26 | €24,441 | €37,361 | +€12,920 | +52.9% |
| Current assets | 29/58 | €329,261 | €383,593 | +€54,333 | +16.5% |
| Amounts receivable within one year | 40/41 | €203,032 | €261,280 | +€58,248 | +28.7% |
| Trade receivables | 40 | - | €61,280 | +€61,280 | |
| Other amounts receivable | 41 | €203,032 | €200,000 | -€3,032 | -1.5% |
| Cash at bank and in hand | 54/58 | €86,207 | €74,269 | -€11,937 | -13.8% |
| Deferred charges and accrued income | 490/1 | €40,022 | €48,044 | +€8,022 | +20.0% |
| Total equity and liabilities | 10/49 | €364,414 | €430,237 | +€65,823 | +18.1% |
| Equity | 10/15 | €237,717 | €315,640 | +€77,923 | +32.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €225,317 | €303,240 | +€77,923 | +34.6% |
| Distributable reserves | 133 | €225,317 | €303,240 | +€77,923 | +34.6% |
| Amounts payable | 17/49 | €126,697 | €114,597 | -€12,100 | -9.6% |
| Amounts payable within one year | 42/48 | €117,712 | €106,272 | -€11,440 | -9.7% |
| Trade debts | 44 | €76 | €10,236 | +€10,160 | +13,309% |
| Suppliers | 440/4 | €76 | €10,236 | +€10,160 | +13,309% |
| Taxes, remuneration and social security | 45 | €1,769 | €6,574 | +€4,805 | +272% |
| Taxes | 450/3 | €1,769 | €6,574 | +€4,805 | +272% |
| Other amounts payable | 47/48 | €115,866 | €89,462 | -€26,404 | -22.8% |
| Accrued charges and deferred income | 492/3 | €8,985 | €8,325 | -€660 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,100 | €1,547 | +€447 | +40.7% |
| Other operating charges | 640/8 | €1,256 | €3,504 | +€2,249 | +179% |
| Gross operating margin | 9900 | -€6,687 | €104,787 | +€111,473 | |
| Operating profit (loss) | 9901 | -€9,042 | €99,735 | +€108,778 | |
| Financial income | 75/76B | €8,022 | €8,022 | -€0 | 0.0% |
| Recurring financial income | 75 | €8,022 | €8,022 | -€0 | 0.0% |
| Financial charges | 65/66B | €9,051 | €8,395 | -€656 | -7.2% |
| Recurring financial charges | 65 | €9,051 | €8,395 | -€656 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,072 | €99,362 | +€109,434 | |
| Income taxes | 67/77 | - | €21,439 | +€21,439 | |
| Profit (loss) for the period | 9904 | -€10,072 | €77,923 | +€87,994 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,072 | €77,923 | +€87,994 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.