iSmart: 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.
iSmart
Largest movements
- Cash -€87,670
down €87,670 (-97.0%), from €90,380 to €2,710
mainly Current investments (-€48,056) and Trade debts (-€47,287)
- Current investments +€48,056
up €48,056 (+8.1%), from €594,940 to €642,996
- Trade debts -€47,287
down €47,287 (-98.9%), from €47,824 to €537
- Reserves +€34,783
up €34,783 (+6.9%), from €503,353 to €538,136
of which Distributable reserves: +€34,783
- Tax, wage and social debts -€28,825
down €28,825 (-26.0%), from €110,883 to €82,058
- Other debts +€9,624
up €9,624 (+40.5%), from €23,736 to €33,359
- Financial income -€220,989
down €220,989 (-65.7%), from €336,438 to €115,449
- Financial charges -€87,275
down €87,275, from €70,850 to -€16,425
- Taxes -€81,410
down €81,410 (-74.1%), from €109,937 to €28,527
- Gross operating margin -€41,334
down €41,334, from €14,877 to -€26,457
- Depreciation +€319
up €319 (+145%), from €220 to €539
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 | €687,048 | €654,090 | -€32,958 | -4.8% |
| Fixed assets | 21/28 | €498 | €6,354 | +€5,856 | +1,175% |
| Tangible fixed assets | 22/27 | €498 | €6,354 | +€5,856 | +1,175% |
| Furniture and vehicles | 24 | €498 | €6,354 | +€5,856 | +1,175% |
| Current assets | 29/58 | €686,550 | €647,736 | -€38,814 | -5.7% |
| Amounts receivable within one year | 40/41 | - | €1,201 | +€1,201 | |
| Trade receivables | 40 | - | €862 | +€862 | |
| Other amounts receivable | 41 | - | €339 | +€339 | |
| Current investments | 50/53 | €594,940 | €642,996 | +€48,056 | +8.1% |
| Cash at bank and in hand | 54/58 | €90,380 | €2,710 | -€87,670 | -97.0% |
| Deferred charges and accrued income | 490/1 | €1,230 | €829 | -€401 | -32.6% |
| Total equity and liabilities | 10/49 | €687,048 | €654,090 | -€32,958 | -4.8% |
| Equity | 10/15 | €503,353 | €538,136 | +€34,783 | +6.9% |
| Reserves | 13 | €503,353 | €538,136 | +€34,783 | +6.9% |
| Tax-exempt reserves | 132 | €170 | €170 | = | 0.0% |
| Distributable reserves | 133 | €503,183 | €537,966 | +€34,783 | +6.9% |
| Amounts payable | 17/49 | €183,695 | €115,954 | -€67,742 | -36.9% |
| Amounts payable within one year | 42/48 | €182,442 | €115,954 | -€66,489 | -36.4% |
| Trade debts | 44 | €47,824 | €537 | -€47,287 | -98.9% |
| Suppliers | 440/4 | €47,824 | €537 | -€47,287 | -98.9% |
| Taxes, remuneration and social security | 45 | €110,883 | €82,058 | -€28,825 | -26.0% |
| Taxes | 450/3 | €110,883 | €82,058 | -€28,825 | -26.0% |
| Other amounts payable | 47/48 | €23,736 | €33,359 | +€9,624 | +40.5% |
| Accrued charges and deferred income | 492/3 | €1,253 | - | -€1,253 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220 | €539 | +€319 | +145% |
| Other operating charges | 640/8 | €513 | €593 | +€80 | +15.6% |
| Gross operating margin | 9900 | €14,877 | -€26,457 | -€41,334 | |
| Operating profit (loss) | 9901 | €14,143 | -€27,590 | -€41,733 | |
| Financial income | 75/76B | €336,438 | €115,449 | -€220,989 | -65.7% |
| Recurring financial income | 75 | €336,438 | €115,449 | -€220,989 | -65.7% |
| Financial charges | 65/66B | €70,850 | -€16,425 | -€87,275 | |
| Recurring financial charges | 65 | €70,850 | -€16,425 | -€87,275 | |
| Profit (loss) for the period before taxes | 9903 | €279,732 | €104,285 | -€175,447 | -62.7% |
| Income taxes | 67/77 | €109,937 | €28,527 | -€81,410 | -74.1% |
| Profit (loss) for the period | 9904 | €169,795 | €75,757 | -€94,037 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €169,795 | €75,757 | -€94,037 | -55.4% |
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 18 October 2026 via checked.be.