SMART CHOICE: 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.
SMART CHOICE
Largest movements
- Receivables within one year +€11,827
up €11,827 (+364.0%), from €3,249 to €15,076
of which Trade receivables: +€11,392
- Cash +€3,998
up €3,998 (+23.8%), from €16,796 to €20,794
mainly Net result for the year (+€14,488) and Tax, wage and social debts (+€3,687)
- Intangible fixed assets -€2,143
down €2,143 (-100.0%), from €2,143 to €0
- Deferred charges and accrued income +€698
up €698 (+8611.2%), from €8 to €706
- Profit (loss) carried forward +€14,488
up €14,488, from -€13,453 to €1,035
- Other debts -€4,234
no longer reported in 2025 (was €4,234)
- Tax, wage and social debts +€3,687
up €3,687 (+38.2%), from €9,649 to €13,336
of which Taxes: +€2,146
- Trade debts +€439
up €439 (+87.9%), from €499 to €938
- Gross operating margin +€15,474
up €15,474 (+42.8%), from €36,116 to €51,590
- Taxes +€3,550
up €3,550 (+2773.5%), from €128 to €3,678
- Staff costs +€3,346
up €3,346 (+12.5%), from €26,687 to €30,034
- Depreciation -€2,225
down €2,225 (-50.9%), from €4,368 to €2,143
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 | €22,196 | €36,576 | +€14,380 | +64.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,143 | €0 | -€2,143 | -100.0% |
| Intangible fixed assets | 21 | €2,143 | €0 | -€2,143 | -100.0% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €20,053 | €36,576 | +€16,523 | +82.4% |
| Amounts receivable within one year | 40/41 | €3,249 | €15,076 | +€11,827 | +364.0% |
| Trade receivables | 40 | - | €11,392 | +€11,392 | |
| Other amounts receivable | 41 | €3,249 | €3,684 | +€435 | +13.4% |
| Cash at bank and in hand | 54/58 | €16,796 | €20,794 | +€3,998 | +23.8% |
| Deferred charges and accrued income | 490/1 | €8 | €706 | +€698 | +8611.2% |
| Total equity and liabilities | 10/49 | €22,196 | €36,576 | +€14,380 | +64.8% |
| Equity | 10/15 | €7,814 | €22,302 | +€14,488 | +185.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €15,067 | €15,067 | = | 0.0% |
| Distributable reserves | 133 | €15,067 | €15,067 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,453 | €1,035 | +€14,488 | |
| Amounts payable | 17/49 | €14,382 | €14,274 | -€108 | -0.8% |
| Amounts payable within one year | 42/48 | €14,382 | €14,274 | -€108 | -0.8% |
| Trade debts | 44 | €499 | €938 | +€439 | +87.9% |
| Suppliers | 440/4 | €499 | €938 | +€439 | +87.9% |
| Taxes, remuneration and social security | 45 | €9,649 | €13,336 | +€3,687 | +38.2% |
| Taxes | 450/3 | €5,237 | €7,383 | +€2,146 | +41.0% |
| Remuneration and social security | 454/9 | €4,412 | €5,953 | +€1,541 | +34.9% |
| Other amounts payable | 47/48 | €4,234 | - | -€4,234 | |
| Remuneration, social security and pensions | 62 | €26,687 | €30,034 | +€3,346 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,368 | €2,143 | -€2,225 | -50.9% |
| Other operating charges | 640/8 | €867 | €794 | -€73 | -8.5% |
| Gross operating margin | 9900 | €36,116 | €51,590 | +€15,474 | +42.8% |
| Operating profit (loss) | 9901 | €4,194 | €18,620 | +€14,426 | +344.0% |
| Financial charges | 65/66B | €435 | €454 | +€19 | +4.4% |
| Recurring financial charges | 65 | €435 | €454 | +€19 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €3,759 | €18,166 | +€14,407 | +383.3% |
| Income taxes | 67/77 | €128 | €3,678 | +€3,550 | +2773.5% |
| Profit (loss) for the period | 9904 | €3,631 | €14,488 | +€10,857 | +299.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,631 | €14,488 | +€10,857 | +299.0% |
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 9 October 2026 via checked.be.