ECO-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.
ECO-SMART
Largest movements
- Receivables within one year +€330,302
up €330,302 (+10.3%), from €3.2m to €3.5m
of which Other amounts receivable: +€1.0m
- Tangible fixed assets -€37,217
down €37,217 (-35.0%), from €106,317 to €69,100
of which Assets under construction and advance payments: -€68,859
- Other debts +€590,779
up €590,779 (+74.4%), from €794,095 to €1.4m
- Profit (loss) carried forward -€210,373
down €210,373 (-18.1%), from €1.2m to €953,912
- Trade debts -€111,669
down €111,669 (-35.4%), from €315,416 to €203,746
- Staff costs +€239,659
up €239,659 (+25.9%), from €925,974 to €1.2m
- Gross operating margin -€144,205
down €144,205 (-14.0%), from €1.0m to €888,210
- Taxes -€78,249
down €78,249 (-99.8%), from €78,368 to €119
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 | €3,333,875 | €3,606,155 | +€272,281 | +8.2% |
| Fixed assets | 21/28 | €111,975 | €74,758 | -€37,217 | -33.2% |
| Tangible fixed assets | 22/27 | €106,317 | €69,100 | -€37,217 | -35.0% |
| Furniture and vehicles | 24 | €37,458 | €69,100 | +€31,642 | +84.5% |
| Assets under construction and advance payments | 27 | €68,859 | - | -€68,859 | |
| Financial fixed assets | 28 | €5,658 | €5,658 | = | 0.0% |
| Current assets | 29/58 | €3,221,900 | €3,531,397 | +€309,497 | +9.6% |
| Amounts receivable within one year | 40/41 | €3,201,096 | €3,531,397 | +€330,302 | +10.3% |
| Trade receivables | 40 | €800,015 | €126,272 | -€673,743 | -84.2% |
| Other amounts receivable | 41 | €2,401,080 | €3,405,125 | +€1.0m | +41.8% |
| Cash at bank and in hand | 54/58 | €20,805 | - | -€20,805 | |
| Total equity and liabilities | 10/49 | €3,333,875 | €3,606,155 | +€272,281 | +8.2% |
| Equity | 10/15 | €1,957,460 | €1,747,087 | -€210,373 | -10.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €731,175 | €731,175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €724,975 | €724,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,164,285 | €953,912 | -€210,373 | -18.1% |
| Amounts payable | 17/49 | €1,376,415 | €1,859,069 | +€482,654 | +35.1% |
| Amounts payable within one year | 42/48 | €1,368,915 | €1,853,979 | +€485,064 | +35.4% |
| Trade debts | 44 | €315,416 | €203,746 | -€111,669 | -35.4% |
| Suppliers | 440/4 | €315,416 | €203,746 | -€111,669 | -35.4% |
| Taxes, remuneration and social security | 45 | €259,404 | €265,359 | +€5,955 | +2.3% |
| Taxes | 450/3 | €79,893 | €54,019 | -€25,874 | -32.4% |
| Remuneration and social security | 454/9 | €179,512 | €211,340 | +€31,829 | +17.7% |
| Other amounts payable | 47/48 | €794,095 | €1,384,873 | +€590,779 | +74.4% |
| Accrued charges and deferred income | 492/3 | €7,500 | €5,090 | -€2,410 | -32.1% |
| Remuneration, social security and pensions | 62 | €925,974 | €1,165,632 | +€239,659 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,793 | €10,575 | -€219 | -2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €133 | -€127 | -€260 | |
| Other operating charges | 640/8 | €421 | €904 | +€483 | +115% |
| Gross operating margin | 9900 | €1,032,416 | €888,210 | -€144,205 | -14.0% |
| Operating profit (loss) | 9901 | €95,094 | -€288,774 | -€383,868 | |
| Financial income | 75/76B | €95,948 | €88,729 | -€7,219 | -7.5% |
| Recurring financial income | 75 | €95,948 | €88,729 | -€7,219 | -7.5% |
| Financial charges | 65/66B | €1,220 | €10,210 | +€8,990 | +737% |
| Recurring financial charges | 65 | €1,220 | €10,210 | +€8,990 | +737% |
| Profit (loss) for the period before taxes | 9903 | €189,823 | -€210,255 | -€400,078 | |
| Income taxes | 67/77 | €78,368 | €119 | -€78,249 | -99.8% |
| Profit (loss) for the period | 9904 | €111,455 | -€210,373 | -€321,828 | |
| Profit (loss) for the period to be appropriated | 9905 | €111,455 | -€210,373 | -€321,828 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.