SMART ASSUR: 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 ASSUR
Largest movements
- Tangible fixed assets -€57,558
down €57,558 (-10.1%), from €568,561 to €511,003
of which Land and buildings: -€32,200
- Cash +€33,398
up €33,398 (+15.8%), from €211,958 to €245,355
mainly Depreciation (+€73,933) and Net result for the year (+€45,396)
- Receivables within one year +€10,242
up €10,242 (+69.4%), from €14,765 to €25,006
of which Trade receivables: +€10,925
- Reserves +€45,395
up €45,395 (+36.9%), from €123,072 to €168,467
of which Distributable reserves: +€45,395
- Debts after one year -€38,709
down €38,709 (-12.9%), from €301,062 to €262,353
- Tax, wage and social debts -€18,847
down €18,847 (-42.4%), from €44,475 to €25,629
of which Taxes: -€10,506
- Profit (loss) carried forward -€14,999
down €14,999 (-5.4%), from €276,094 to €261,095
- Trade debts +€12,553
up €12,553 (+89.5%), from €14,032 to €26,585
- Gross operating margin -€24,312
down €24,312 (-8.2%), from €297,256 to €272,944
- Staff costs +€16,371
up €16,371 (+16.4%), from €99,649 to €116,020
- Depreciation -€10,933
down €10,933 (-12.9%), from €84,866 to €73,933
- Taxes -€10,746
down €10,746 (-32.5%), from €33,017 to €22,271
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 | €824,719 | €811,789 | -€12,930 | -1.6% |
| Fixed assets | 21/28 | €568,586 | €511,028 | -€57,558 | -10.1% |
| Tangible fixed assets | 22/27 | €568,561 | €511,003 | -€57,558 | -10.1% |
| Land and buildings | 22 | €379,751 | €347,551 | -€32,200 | -8.5% |
| Plant, machinery and equipment | 23 | €146,251 | €145,392 | -€859 | -0.6% |
| Furniture and vehicles | 24 | €40,893 | €16,811 | -€24,082 | -58.9% |
| Other tangible fixed assets | 26 | €1,666 | €1,249 | -€416 | -25.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €256,132 | €300,761 | +€44,629 | +17.4% |
| Amounts receivable within one year | 40/41 | €14,765 | €25,006 | +€10,242 | +69.4% |
| Trade receivables | 40 | €3,165 | €14,090 | +€10,925 | +345.2% |
| Other amounts receivable | 41 | €11,600 | €10,917 | -€683 | -5.9% |
| Cash at bank and in hand | 54/58 | €211,958 | €245,355 | +€33,398 | +15.8% |
| Deferred charges and accrued income | 490/1 | €29,410 | €30,400 | +€989 | +3.4% |
| Total equity and liabilities | 10/49 | €824,719 | €811,789 | -€12,930 | -1.6% |
| Equity | 10/15 | €405,365 | €435,762 | +€30,396 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €123,072 | €168,467 | +€45,395 | +36.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €71,212 | €71,212 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €95,395 | +€45,395 | +90.8% |
| Profit (loss) carried forward | 14 | €276,094 | €261,095 | -€14,999 | -5.4% |
| Provisions and deferred taxes | 16 | €8,428 | €8,428 | = | 0.0% |
| Deferred taxes | 168 | €8,428 | €8,428 | = | 0.0% |
| Amounts payable | 17/49 | €410,926 | €367,600 | -€43,326 | -10.5% |
| Amounts payable after more than one year | 17 | €301,062 | €262,353 | -€38,709 | -12.9% |
| Financial debts | 170/4 | €301,062 | €262,353 | -€38,709 | -12.9% |
| Amounts payable within one year | 42/48 | €109,863 | €105,246 | -€4,617 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €41,206 | €42,533 | +€1,327 | +3.2% |
| Trade debts | 44 | €14,032 | €26,585 | +€12,553 | +89.5% |
| Suppliers | 440/4 | €14,032 | €26,585 | +€12,553 | +89.5% |
| Taxes, remuneration and social security | 45 | €44,475 | €25,629 | -€18,847 | -42.4% |
| Taxes | 450/3 | €22,367 | €11,861 | -€10,506 | -47.0% |
| Remuneration and social security | 454/9 | €22,109 | €13,768 | -€8,341 | -37.7% |
| Other amounts payable | 47/48 | €10,150 | €10,500 | +€350 | +3.4% |
| Remuneration, social security and pensions | 62 | €99,649 | €116,020 | +€16,371 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,866 | €73,933 | -€10,933 | -12.9% |
| Other operating charges | 640/8 | €1,836 | €2,105 | +€269 | +14.7% |
| Gross operating margin | 9900 | €297,256 | €272,944 | -€24,312 | -8.2% |
| Operating profit (loss) | 9901 | €110,905 | €80,886 | -€30,020 | -27.1% |
| Financial income | 75/76B | - | €1,042 | +€1,042 | |
| Recurring financial income | 75 | - | €1,042 | +€1,042 | |
| Financial charges | 65/66B | €15,935 | €14,260 | -€1,676 | -10.5% |
| Recurring financial charges | 65 | €15,935 | €14,260 | -€1,676 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €94,970 | €67,667 | -€27,303 | -28.7% |
| Transfer from deferred taxes | 780 | €1,264 | - | -€1,264 | |
| Income taxes | 67/77 | €33,017 | €22,271 | -€10,746 | -32.5% |
| Profit (loss) for the period | 9904 | €63,217 | €45,396 | -€17,821 | -28.2% |
| Transfer from tax-exempt reserves | 789 | €5,055 | - | -€5,055 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,272 | €45,396 | -€22,876 | -33.5% |
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 4 October 2026 via checked.be.