iSmart Digital: 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 Digital
Largest movements
- Receivables within one year +€65,638
up €65,638 (+50.2%), from €130,819 to €196,457
of which Trade receivables: +€61,161
- Stocks and contracts -€31,455
down €31,455 (-94.7%), from €33,211 to €1,756
of which Contracts in progress: -€23,211
- Intangible fixed assets -€14,580
down €14,580 (-25.0%), from €58,280 to €43,700
- Tangible fixed assets -€14,030
down €14,030 (-26.4%), from €53,237 to €39,207
of which Furniture and vehicles: -€13,424
- Cash -€5,221
down €5,221 (-100%), from €5,221 to €0
mainly Receivables within one year (-€65,638) and Tax, wage and social debts (-€22,253)
- Tax, wage and social debts -€22,253
down €22,253 (-51.8%), from €42,924 to €20,671
of which Taxes: -€17,297
- Short-term financial debts +€18,072
up €18,072 (+13.6%), from €133,190 to €151,262
- Current portion of long-term debt +€11,384
up €11,384 (+613%), from €1,856 to €13,240
- Debts after one year -€11,135
down €11,135 (-36.5%), from €30,490 to €19,355
- Staff costs -€15,737
down €15,737 (-13.5%), from €116,771 to €101,034
- Gross operating margin -€8,015
down €8,015 (-5.2%), from €155,039 to €147,024
- Depreciation +€5,170
up €5,170 (+22.1%), from €23,440 to €28,610
- Taxes +€2,546
up €2,546 (+1,577%), from €161 to €2,708
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 | €285,327 | €281,702 | -€3,625 | -1.3% |
| Fixed assets | 21/28 | €111,517 | €82,907 | -€28,610 | -25.7% |
| Intangible fixed assets | 21 | €58,280 | €43,700 | -€14,580 | -25.0% |
| Tangible fixed assets | 22/27 | €53,237 | €39,207 | -€14,030 | -26.4% |
| Plant, machinery and equipment | 23 | €1,817 | €1,210 | -€606 | -33.4% |
| Furniture and vehicles | 24 | €51,420 | €37,996 | -€13,424 | -26.1% |
| Current assets | 29/58 | €173,810 | €198,795 | +€24,985 | +14.4% |
| Stocks and contracts in progress | 3 | €33,211 | €1,756 | -€31,455 | -94.7% |
| Stocks | 30/36 | €10,000 | €1,756 | -€8,244 | -82.4% |
| Contracts in progress | 37 | €23,211 | €0 | -€23,211 | -100% |
| Amounts receivable within one year | 40/41 | €130,819 | €196,457 | +€65,638 | +50.2% |
| Trade receivables | 40 | €129,455 | €190,616 | +€61,161 | +47.2% |
| Other amounts receivable | 41 | €1,364 | €5,841 | +€4,478 | +328% |
| Cash at bank and in hand | 54/58 | €5,221 | €0 | -€5,221 | -100% |
| Deferred charges and accrued income | 490/1 | €4,559 | €582 | -€3,978 | -87.2% |
| Total equity and liabilities | 10/49 | €285,327 | €281,702 | -€3,625 | -1.3% |
| Equity | 10/15 | €19,469 | €21,883 | +€2,414 | +12.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €14,469 | €16,883 | +€2,414 | +16.7% |
| Distributable reserves | 133 | €14,469 | €16,883 | +€2,414 | +16.7% |
| Amounts payable | 17/49 | €265,858 | €259,818 | -€6,040 | -2.3% |
| Amounts payable after more than one year | 17 | €30,490 | €19,355 | -€11,135 | -36.5% |
| Financial debts | 170/4 | €30,490 | €19,355 | -€11,135 | -36.5% |
| Amounts payable within one year | 42/48 | €235,368 | €240,464 | +€5,096 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €1,856 | €13,240 | +€11,384 | +613% |
| Financial debts | 43 | €133,190 | €151,262 | +€18,072 | +13.6% |
| Credit institutions | 430/8 | €133,190 | €151,262 | +€18,072 | +13.6% |
| Trade debts | 44 | €56,946 | €54,838 | -€2,108 | -3.7% |
| Suppliers | 440/4 | €56,946 | €54,838 | -€2,108 | -3.7% |
| Taxes, remuneration and social security | 45 | €42,924 | €20,671 | -€22,253 | -51.8% |
| Taxes | 450/3 | €27,604 | €10,307 | -€17,297 | -62.7% |
| Remuneration and social security | 454/9 | €15,320 | €10,364 | -€4,956 | -32.3% |
| Other amounts payable | 47/48 | €453 | €453 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €116,771 | €101,034 | -€15,737 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,440 | €28,610 | +€5,170 | +22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €423 | +€423 | |
| Other operating charges | 640/8 | €1,062 | €1,194 | +€131 | +12.4% |
| Gross operating margin | 9900 | €155,039 | €147,024 | -€8,015 | -5.2% |
| Operating profit (loss) | 9901 | €13,765 | €15,763 | +€1,998 | +14.5% |
| Financial income | 75/76B | €7 | €148 | +€142 | +2,156% |
| Recurring financial income | 75 | €7 | €148 | +€142 | +2,156% |
| Financial charges | 65/66B | €11,007 | €10,789 | -€217 | -2.0% |
| Recurring financial charges | 65 | €11,007 | €10,789 | -€217 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €2,765 | €5,122 | +€2,357 | +85.2% |
| Income taxes | 67/77 | €161 | €2,708 | +€2,546 | +1,577% |
| Profit (loss) for the period | 9904 | €2,604 | €2,414 | -€189 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,604 | €2,414 | -€189 | -7.3% |
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 26 October 2026 via checked.be.