SMART ANALYSES: what changed
Two fiscal 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.
SMART ANALYSES
Largest movements
- Cash +€15,995
up €15,995 (+89.4%), from €17,896 to €33,891
mainly Net result for the year (+€59,272) and Depreciation (+€14,339)
- Tangible fixed assets -€13,223
down €13,223 (-28.0%), from €47,162 to €33,939
of which Furniture and vehicles: -€12,318
- Receivables within one year +€5,176
up €5,176 (+35.9%), from €14,399 to €19,575
of which Other amounts receivable: +€5,600
- Deferred charges and accrued income -€1,900
down €1,900 (-31.8%), from €5,974 to €4,074
- Other debts +€5,223
up €5,223 (+10.0%), from €52,312 to €57,535
- Trade debts +€1,331
up €1,331 (+119.3%), from €1,116 to €2,447
- Gross operating margin -€8,581
down €8,581 (-8.3%), from €103,925 to €95,344
- Financial charges -€3,718
down €3,718 (-97.3%), from €3,822 to €104
- Taxes -€1,354
down €1,354 (-6.0%), from €22,698 to €21,344
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.
Cash bridge derived
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 | €85,431 | €91,479 | +€6,048 | +7.1% |
| Fixed assets | 21/28 | €47,162 | €33,939 | -€13,223 | -28.0% |
| Tangible fixed assets | 22/27 | €47,162 | €33,939 | -€13,223 | -28.0% |
| Plant, machinery and equipment | 23 | €3,572 | €2,667 | -€905 | -25.3% |
| Furniture and vehicles | 24 | €43,590 | €31,272 | -€12,318 | -28.3% |
| Current assets | 29/58 | €38,269 | €57,540 | +€19,271 | +50.4% |
| Amounts receivable within one year | 40/41 | €14,399 | €19,575 | +€5,176 | +35.9% |
| Trade receivables | 40 | €14,399 | €13,975 | -€424 | -2.9% |
| Other amounts receivable | 41 | - | €5,600 | +€5,600 | |
| Cash at bank and in hand | 54/58 | €17,896 | €33,891 | +€15,995 | +89.4% |
| Deferred charges and accrued income | 490/1 | €5,974 | €4,074 | -€1,900 | -31.8% |
| Total equity and liabilities | 10/49 | €85,431 | €91,479 | +€6,048 | +7.1% |
| Equity | 10/15 | €21,600 | €21,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €63,831 | €69,879 | +€6,048 | +9.5% |
| Amounts payable within one year | 42/48 | €63,831 | €69,879 | +€6,048 | +9.5% |
| Trade debts | 44 | €1,116 | €2,447 | +€1,331 | +119.3% |
| Suppliers | 440/4 | €1,116 | €2,447 | +€1,331 | +119.3% |
| Taxes, remuneration and social security | 45 | €10,403 | €9,897 | -€506 | -4.9% |
| Taxes | 450/3 | €10,403 | €9,897 | -€506 | -4.9% |
| Other amounts payable | 47/48 | €52,312 | €57,535 | +€5,223 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,271 | €14,339 | +€68 | +0.5% |
| Other operating charges | 640/8 | €1,157 | €376 | -€781 | -67.5% |
| Gross operating margin | 9900 | €103,925 | €95,344 | -€8,581 | -8.3% |
| Operating profit (loss) | 9901 | €88,497 | €80,629 | -€7,868 | -8.9% |
| Financial income | 75/76B | €172 | €91 | -€81 | -47.1% |
| Recurring financial income | 75 | €172 | €91 | -€81 | -47.1% |
| Financial charges | 65/66B | €3,822 | €104 | -€3,718 | -97.3% |
| Recurring financial charges | 65 | €3,822 | €104 | -€3,718 | -97.3% |
| Profit (loss) for the period before taxes | 9903 | €84,847 | €80,616 | -€4,231 | -5.0% |
| Income taxes | 67/77 | €22,698 | €21,344 | -€1,354 | -6.0% |
| Profit (loss) for the period | 9904 | €62,149 | €59,272 | -€2,877 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,149 | €59,272 | -€2,877 | -4.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.