smart Belgium: 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.
What changed
smart Belgium
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€185,442
2024 · €239,949-€54,506
Equity
€599,825
2024 · €414,382+€185,442
Cash
€100,000
2024 · €100,000
Balance sheet total
€4.4m
2024 · €16.9m-€12.5m
Largest movements
Assets
- Receivables within one year -€11.0m
down €11.0m (-84.1%), from €13.1m to €2.1m
of which Trade receivables: -€10.9m
- Stocks and contracts -€1.6m
down €1.6m (-44.4%), from €3.5m to €1.9m
Equity and liabilities
- Trade debts -€13.3m
down €13.3m (-90.4%), from €14.8m to €1.4m
- Debts after one year -€577,386
down €577,386 (-100%), from €577,386 to €0
- Short-term financial debts +€577,386
new in 2025: €577,386
- Tax, wage and social debts +€307,302
up €307,302 (+236%), from €130,415 to €437,718
of which Taxes: +€213,507
- Advances received +€191,115
new in 2025: €191,115
Income statement
- Goods and materials +€5.9m
up €5.9m (+61.0%), from €9.7m to €15.6m
of which Change in stocks: decrease (increase): +€4.6m
- Other operating income +€5.8m
up €5.8m (+1,851%), from €315,526 to €6.2m
- Turnover -€933,051
down €933,051 (-5.2%), from €17.8m to €16.9m
- Services and other goods -€891,862
down €891,862 (-12.7%), from €7.0m to €6.2m
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.
Result 2024
€239,949
Turnover
-€933,051
Other operating income
+€5.8m
Goods and materials
-€5.9m
Services and other goods
+€891,862
Staff costs
-€53,165
Depreciation
+€2,706
Write-downs
-€122,108
Other operating charges
+€67,625
Other operating items
-€23
Financial charges
+€798
Taxes
+€162,636
Result 2025
€185,442
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€470
Investment
-€470
Financing
€0
Cash 2024
€100,000
From operations (derived)
+€470
Net result for the year
+€185,442
Depreciation
+€752
Stocks and contracts
+€1.6m
Receivables within one year
+€11.0m
Smaller working-capital items
+€19,011
Trade debts
-€13.3m
Tax, wage and social debts
+€307,302
Advances received
+€191,115
Accrued charges and deferred income
+€105,556
Investment (derived)
-€470
Investment in fixed assets (net)
-€470
Financing
€0
Debts after one year
-€577,386
Short-term financial debts
+€577,386
Cash 2025
€100,000
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,906,789 | €4,379,695 | -€12.5m | -74.1% |
| Fixed assets | 21/28 | €6,724 | €6,442 | -€282 | -4.2% |
| Tangible fixed assets | 22/27 | €1,424 | €1,142 | -€282 | -19.8% |
| Plant, machinery and equipment | 23 | €1,424 | €1,142 | -€282 | -19.8% |
| Financial fixed assets | 28 | €5,300 | €5,300 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,300 | €5,300 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,300 | €5,300 | = | 0.0% |
| Current assets | 29/58 | €16,900,065 | €4,373,254 | -€12.5m | -74.1% |
| Stocks and contracts in progress | 3 | €3,504,436 | €1,948,185 | -€1.6m | -44.4% |
| Stocks | 30/36 | €3,504,436 | €1,948,185 | -€1.6m | -44.4% |
| Goods purchased for resale | 34 | €3,504,436 | €1,948,185 | -€1.6m | -44.4% |
| Amounts receivable within one year | 40/41 | €13,068,381 | €2,083,819 | -€11.0m | -84.1% |
| Trade receivables | 40 | €12,853,595 | €1,985,803 | -€10.9m | -84.6% |
| Other amounts receivable | 41 | €214,787 | €98,015 | -€116,771 | -54.4% |
| Cash at bank and in hand | 54/58 | €100,000 | €100,000 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €227,248 | €241,250 | +€14,002 | +6.2% |
| Total equity and liabilities | 10/49 | €16,906,789 | €4,379,695 | -€12.5m | -74.1% |
| Equity | 10/15 | €414,382 | €599,825 | +€185,442 | +44.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €389,382 | €574,825 | +€185,442 | +47.6% |
| Amounts payable | 17/49 | €16,492,406 | €3,779,871 | -€12.7m | -77.1% |
| Amounts payable after more than one year | 17 | €577,386 | €0 | -€577,386 | -100% |
| Financial debts | 170/4 | €577,386 | €0 | -€577,386 | -100% |
| Other loans | 174 | €577,386 | €0 | -€577,386 | -100% |
| Amounts payable within one year | 42/48 | €14,942,669 | €2,701,964 | -€12.2m | -81.9% |
| Financial debts | 43 | - | €577,386 | +€577,386 | |
| Other loans | 439 | - | €577,386 | +€577,386 | |
| Trade debts | 44 | €14,766,607 | €1,417,085 | -€13.3m | -90.4% |
| Suppliers | 440/4 | €14,766,607 | €1,417,085 | -€13.3m | -90.4% |
| Advances received on contracts in progress | 46 | - | €191,115 | +€191,115 | |
| Taxes, remuneration and social security | 45 | €130,415 | €437,718 | +€307,302 | +236% |
| Taxes | 450/3 | €0 | €213,507 | +€213,507 | |
| Remuneration and social security | 454/9 | €130,415 | €224,211 | +€93,796 | +71.9% |
| Other amounts payable | 47/48 | €45,647 | €78,660 | +€33,014 | +72.3% |
| Accrued charges and deferred income | 492/3 | €972,351 | €1,077,906 | +€105,556 | +10.9% |
| Operating income | 70/76A | €18,160,574 | €23,065,893 | +€4.9m | +27.0% |
| Turnover | 70 | €17,841,917 | €16,908,866 | -€933,051 | -5.2% |
| Other operating income | 74 | €315,526 | €6,156,527 | +€5.8m | +1,851% |
| Non-recurring operating income | 76A | €3,131 | €501 | -€2,630 | -84.0% |
| Operating charges | 60/66A | €17,689,000 | €22,812,260 | +€5.1m | +29.0% |
| Goods for resale, raw materials and consumables | 60 | €9,689,062 | €15,601,849 | +€5.9m | +61.0% |
| Purchases | 600/8 | €12,907,313 | €14,186,541 | +€1.3m | +9.9% |
| Change in stocks: decrease (increase) | 609 | -€3,218,251 | €1,415,308 | +€4.6m | |
| Services and other goods | 61 | €7,042,994 | €6,151,132 | -€891,862 | -12.7% |
| Remuneration, social security and pensions | 62 | €849,177 | €902,342 | +€53,165 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,458 | €752 | -€2,706 | -78.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,959 | €144,067 | +€122,108 | +556% |
| Other operating charges | 640/8 | €79,372 | €11,747 | -€67,625 | -85.2% |
| Non-recurring operating charges | 66A | €2,979 | €372 | -€2,607 | -87.5% |
| Operating profit (loss) | 9901 | €471,574 | €253,633 | -€217,941 | -46.2% |
| Financial charges | 65/66B | €30,420 | €29,622 | -€798 | -2.6% |
| Recurring financial charges | 65 | €30,420 | €29,622 | -€798 | -2.6% |
| Debt charges | 650 | €29,601 | €28,639 | -€962 | -3.3% |
| Other financial charges | 652/9 | €819 | €983 | +€164 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €441,154 | €224,011 | -€217,142 | -49.2% |
| Income taxes | 67/77 | €201,205 | €38,569 | -€162,636 | -80.8% |
| Taxes | 670/3 | €201,205 | €50,724 | -€150,481 | -74.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €12,156 | +€12,156 | |
| Profit (loss) for the period | 9904 | €239,949 | €185,442 | -€54,506 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €239,949 | €185,442 | -€54,506 | -22.7% |
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 27 October 2026 via checked.be.