SMART & DESIGN: 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 & DESIGN
Largest movements
- Receivables within one year -€61,082
down €61,082 (-79.7%), from €76,609 to €15,527
of which Trade receivables: -€59,834
- Cash +€21,834
up €21,834 (+507.7%), from €4,300 to €26,134
mainly Receivables within one year (+€61,082) and Net result for the year (+€24,877)
- Stocks and contracts +€19,500
new in 2025: €19,500
- Tangible fixed assets +€7,854
up €7,854 (+27.0%), from €29,097 to €36,951
of which Other tangible fixed assets: +€9,354
- Profit (loss) carried forward +€24,877
up €24,877 (+132.1%), from €18,835 to €43,712
- Trade debts -€23,718
down €23,718 (-57.4%), from €41,332 to €17,614
- Other debts -€10,195
down €10,195 (-42.8%), from €23,829 to €13,634
- Debts after one year -€5,231
down €5,231 (-62.2%), from €8,408 to €3,177
- Gross operating margin +€33,245
up €33,245 (+59.9%), from €55,461 to €88,707
- Staff costs +€29,736
up €29,736 (+124.3%), from €23,923 to €53,659
- Taxes -€1,441
down €1,441 (-26.2%), from €5,498 to €4,057
- Depreciation -€1,035
down €1,035 (-29.4%), from €3,523 to €2,489
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 | €111,057 | €98,113 | -€12,944 | -11.7% |
| Fixed assets | 21/28 | €29,097 | €36,951 | +€7,854 | +27.0% |
| Tangible fixed assets | 22/27 | €29,097 | €36,951 | +€7,854 | +27.0% |
| Furniture and vehicles | 24 | €27,810 | €26,310 | -€1,500 | -5.4% |
| Other tangible fixed assets | 26 | €1,287 | €10,641 | +€9,354 | +726.8% |
| Current assets | 29/58 | €81,960 | €61,161 | -€20,799 | -25.4% |
| Stocks and contracts in progress | 3 | - | €19,500 | +€19,500 | |
| Stocks | 30/36 | - | €19,500 | +€19,500 | |
| Amounts receivable within one year | 40/41 | €76,609 | €15,527 | -€61,082 | -79.7% |
| Trade receivables | 40 | €61,007 | €1,173 | -€59,834 | -98.1% |
| Other amounts receivable | 41 | €15,603 | €14,355 | -€1,248 | -8.0% |
| Cash at bank and in hand | 54/58 | €4,300 | €26,134 | +€21,834 | +507.7% |
| Deferred charges and accrued income | 490/1 | €1,050 | €0 | -€1,050 | -100.0% |
| Total equity and liabilities | 10/49 | €111,057 | €98,113 | -€12,944 | -11.7% |
| Equity | 10/15 | €22,835 | €47,712 | +€24,877 | +108.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,835 | €43,712 | +€24,877 | +132.1% |
| Amounts payable | 17/49 | €88,222 | €50,400 | -€37,822 | -42.9% |
| Amounts payable after more than one year | 17 | €8,408 | €3,177 | -€5,231 | -62.2% |
| Financial debts | 170/4 | €8,408 | €3,177 | -€5,231 | -62.2% |
| Amounts payable within one year | 42/48 | €79,814 | €47,224 | -€32,590 | -40.8% |
| Current portion of amounts payable after more than one year | 42 | €4,972 | €5,231 | +€259 | +5.2% |
| Trade debts | 44 | €41,332 | €17,614 | -€23,718 | -57.4% |
| Suppliers | 440/4 | €41,332 | €17,614 | -€23,718 | -57.4% |
| Taxes, remuneration and social security | 45 | €9,681 | €10,745 | +€1,064 | +11.0% |
| Taxes | 450/3 | €791 | €650 | -€141 | -17.9% |
| Remuneration and social security | 454/9 | €8,890 | €10,095 | +€1,205 | +13.6% |
| Other amounts payable | 47/48 | €23,829 | €13,634 | -€10,195 | -42.8% |
| Remuneration, social security and pensions | 62 | €23,923 | €53,659 | +€29,736 | +124.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,523 | €2,489 | -€1,035 | -29.4% |
| Other operating charges | 640/8 | €1,252 | €1,736 | +€483 | +38.6% |
| Gross operating margin | 9900 | €55,461 | €88,707 | +€33,245 | +59.9% |
| Operating profit (loss) | 9901 | €26,763 | €30,823 | +€4,061 | +15.2% |
| Financial charges | 65/66B | €2,430 | €1,889 | -€541 | -22.3% |
| Recurring financial charges | 65 | €2,430 | €1,889 | -€541 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €24,333 | €28,935 | +€4,602 | +18.9% |
| Income taxes | 67/77 | €5,498 | €4,057 | -€1,441 | -26.2% |
| Profit (loss) for the period | 9904 | €18,835 | €24,877 | +€6,043 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,835 | €24,877 | +€6,043 | +32.1% |
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 11 October 2026 via checked.be.