R&R SMART TEAM: what changed
R&R SMART TEAM
Largest movements
- Receivables within one year -€55,929
down €55,929 (-24.7%), from €226,474 to €170,545
of which Trade receivables: -€32,844
- Cash -€44,748
down €44,748 (-73.9%), from €60,530 to €15,782
mainly Trade debts (-€157,322) and Current investments (-€37,025)
- Current investments +€37,025
up €37,025 (+18.5%), from €200,475 to €237,500
- Trade debts -€157,322
down €157,322 (-60.6%), from €259,463 to €102,141
- Reserves +€100,000
up €100,000 (+98.2%), from €101,860 to €201,860
- Accrued charges and deferred income -€10,000
no longer reported in 2025 (was €10,000)
- Tax, wage and social debts +€5,424
up €5,424 (+29.3%), from €18,486 to €23,910
- Gross operating margin -€16,130
down €16,130 (-7.8%), from €206,270 to €190,140
- Financial charges -€2,986
down €2,986 (-39.8%), from €7,497 to €4,511
- Taxes -€2,549
down €2,549 (-4.3%), from €59,957 to €57,408
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €492,014 | €428,776 | -€63,238 | -12.9% |
| Fixed assets | 21/28 | €2,412 | €190 | -€2,222 | -92.1% |
| Tangible fixed assets | 22/27 | €2,412 | - | -€2,412 | |
| Furniture and vehicles | 24 | €2,412 | - | -€2,412 | |
| Financial fixed assets | 28 | - | €190 | +€190 | |
| Current assets | 29/58 | €489,602 | €428,586 | -€61,016 | -12.5% |
| Amounts receivable within one year | 40/41 | €226,474 | €170,545 | -€55,929 | -24.7% |
| Trade receivables | 40 | €73,346 | €40,502 | -€32,844 | -44.8% |
| Other amounts receivable | 41 | €153,128 | €130,043 | -€23,085 | -15.1% |
| Current investments | 50/53 | €200,475 | €237,500 | +€37,025 | +18.5% |
| Cash at bank and in hand | 54/58 | €60,530 | €15,782 | -€44,748 | -73.9% |
| Deferred charges and accrued income | 490/1 | €2,123 | €4,759 | +€2,636 | +124% |
| Total equity and liabilities | 10/49 | €492,014 | €428,776 | -€63,238 | -12.9% |
| Equity | 10/15 | €167,065 | €270,699 | +€103,634 | +62.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,860 | €201,860 | +€100,000 | +98.2% |
| Distributable reserves | 133 | €101,860 | €201,860 | +€100,000 | +98.2% |
| Profit (loss) carried forward | 14 | €59,005 | €62,639 | +€3,634 | +6.2% |
| Amounts payable | 17/49 | €324,949 | €158,077 | -€166,872 | -51.4% |
| Amounts payable within one year | 42/48 | €314,949 | €158,077 | -€156,872 | -49.8% |
| Current portion of amounts payable after more than one year | 42 | €17,000 | €16,026 | -€974 | -5.7% |
| Trade debts | 44 | €259,463 | €102,141 | -€157,322 | -60.6% |
| Suppliers | 440/4 | €259,463 | €102,141 | -€157,322 | -60.6% |
| Taxes, remuneration and social security | 45 | €18,486 | €23,910 | +€5,424 | +29.3% |
| Taxes | 450/3 | €18,486 | €23,910 | +€5,424 | +29.3% |
| Other amounts payable | 47/48 | €20,000 | €16,000 | -€4,000 | -20.0% |
| Accrued charges and deferred income | 492/3 | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,618 | €2,412 | -€206 | -7.9% |
| Other operating charges | 640/8 | €812 | €1,158 | +€346 | +42.6% |
| Gross operating margin | 9900 | €206,270 | €190,140 | -€16,130 | -7.8% |
| Operating profit (loss) | 9901 | €202,840 | €186,570 | -€16,270 | -8.0% |
| Financial income | 75/76B | €587 | €1,840 | +€1,253 | +213% |
| Recurring financial income | 75 | €587 | €1,840 | +€1,253 | +213% |
| Financial charges | 65/66B | €7,497 | €4,511 | -€2,986 | -39.8% |
| Recurring financial charges | 65 | €7,497 | €4,511 | -€2,986 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €195,930 | €183,899 | -€12,031 | -6.1% |
| Income taxes | 67/77 | €59,957 | €57,408 | -€2,549 | -4.3% |
| Profit (loss) for the period | 9904 | €135,973 | €126,491 | -€9,482 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €135,973 | €126,491 | -€9,482 | -7.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.