SMART & COMPANY: 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 & COMPANY
Largest movements
- Receivables within one year -€19,824
down €19,824 (-88.9%), from €22,294 to €2,470
of which Trade receivables: -€20,194
- Tangible fixed assets +€1,494
new in 2025: €1,494
- Cash -€1,095
down €1,095 (-13.3%), from €8,218 to €7,122
mainly Tax, wage and social debts (-€9,778) and Net result for the year (-€7,474)
- Tax, wage and social debts -€9,778
down €9,778 (-90.8%), from €10,768 to €990
- Profit (loss) carried forward -€7,474
down €7,474 (-51.2%), from €14,594 to €7,120
- Other debts -€2,111
down €2,111 (-63.0%), from €3,352 to €1,241
- Gross operating margin -€26,736
down €26,736, from €19,549 to -€7,187
- Taxes -€4,948
no longer reported in 2025 (was €4,948)
- Depreciation +€242
new in 2025: €242
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,512 | €11,086 | -€19,426 | -63.7% |
| Fixed assets | 21/28 | - | €1,494 | +€1,494 | |
| Tangible fixed assets | 22/27 | - | €1,494 | +€1,494 | |
| Furniture and vehicles | 24 | - | €1,494 | +€1,494 | |
| Current assets | 29/58 | €30,512 | €9,592 | -€20,920 | -68.6% |
| Amounts receivable within one year | 40/41 | €22,294 | €2,470 | -€19,824 | -88.9% |
| Trade receivables | 40 | €22,294 | €2,100 | -€20,194 | -90.6% |
| Other amounts receivable | 41 | - | €370 | +€370 | |
| Cash at bank and in hand | 54/58 | €8,218 | €7,122 | -€1,095 | -13.3% |
| Total equity and liabilities | 10/49 | €30,512 | €11,086 | -€19,426 | -63.7% |
| Equity | 10/15 | €14,594 | €7,120 | -€7,474 | -51.2% |
| Profit (loss) carried forward | 14 | €14,594 | €7,120 | -€7,474 | -51.2% |
| Amounts payable | 17/49 | €15,918 | €3,966 | -€11,952 | -75.1% |
| Amounts payable within one year | 42/48 | €15,918 | €3,966 | -€11,952 | -75.1% |
| Trade debts | 44 | €1,798 | €1,736 | -€63 | -3.5% |
| Suppliers | 440/4 | €1,798 | €1,736 | -€63 | -3.5% |
| Taxes, remuneration and social security | 45 | €10,768 | €990 | -€9,778 | -90.8% |
| Taxes | 450/3 | €10,768 | €990 | -€9,778 | -90.8% |
| Other amounts payable | 47/48 | €3,352 | €1,241 | -€2,111 | -63.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €242 | +€242 | |
| Gross operating margin | 9900 | €19,549 | -€7,187 | -€26,736 | |
| Operating profit (loss) | 9901 | €19,549 | -€7,429 | -€26,978 | |
| Financial charges | 65/66B | €8 | €45 | +€38 | +500% |
| Recurring financial charges | 65 | €8 | €45 | +€38 | +500% |
| Profit (loss) for the period before taxes | 9903 | €19,542 | -€7,474 | -€27,016 | |
| Income taxes | 67/77 | €4,948 | - | -€4,948 | |
| Profit (loss) for the period | 9904 | €14,594 | -€7,474 | -€22,068 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,594 | -€7,474 | -€22,068 |
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 29 October 2026 via checked.be.