SMART DEV: 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 DEV
Largest movements
- Receivables within one year +€23,311
up €23,311 (+177%), from €13,167 to €36,478
of which Other amounts receivable: +€22,824
- Tangible fixed assets -€9,389
down €9,389 (-19.9%), from €47,226 to €37,836
of which Leasing and similar rights: -€9,620
- Cash +€6,414
up €6,414 (+17.3%), from €37,168 to €43,582
mainly Net result for the year (+€22,155) and Depreciation (+€10,014)
- Deferred charges and accrued income -€1,625
no longer reported in 2025 (was €1,625)
- Profit (loss) carried forward +€22,155
up €22,155 (+69.3%), from €31,990 to €54,145
- Debts after one year -€10,886
down €10,886 (-34.8%), from €31,290 to €20,404
- Tax, wage and social debts +€8,790
up €8,790 (+46.1%), from €19,058 to €27,848
of which Taxes: +€7,542
- Other debts -€1,282
down €1,282 (-49.1%), from €2,614 to €1,332
- Trade debts -€1,271
down €1,271 (-61.9%), from €2,053 to €781
- Staff costs +€8,339
up €8,339 (+48.0%), from €17,365 to €25,704
- Depreciation +€7,902
up €7,902 (+374%), from €2,112 to €10,014
- Gross operating margin +€4,124
up €4,124 (+6.1%), from €67,084 to €71,208
- Other operating charges +€3,282
up €3,282 (+7,294%), from €45 to €3,327
- Financial charges +€2,012
up €2,012 (+221%), from €909 to €2,921
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 | €99,186 | €117,896 | +€18,711 | +18.9% |
| Fixed assets | 21/28 | €47,226 | €37,836 | -€9,389 | -19.9% |
| Tangible fixed assets | 22/27 | €47,226 | €37,836 | -€9,389 | -19.9% |
| Plant, machinery and equipment | 23 | - | €478 | +€478 | |
| Furniture and vehicles | 24 | €1,178 | €930 | -€248 | -21.1% |
| Leasing and similar rights | 25 | €46,048 | €36,429 | -€9,620 | -20.9% |
| Current assets | 29/58 | €51,960 | €80,060 | +€28,100 | +54.1% |
| Amounts receivable within one year | 40/41 | €13,167 | €36,478 | +€23,311 | +177% |
| Trade receivables | 40 | €13,167 | €13,653 | +€487 | +3.7% |
| Other amounts receivable | 41 | - | €22,824 | +€22,824 | |
| Cash at bank and in hand | 54/58 | €37,168 | €43,582 | +€6,414 | +17.3% |
| Deferred charges and accrued income | 490/1 | €1,625 | - | -€1,625 | |
| Total equity and liabilities | 10/49 | €99,186 | €117,896 | +€18,711 | +18.9% |
| Equity | 10/15 | €34,490 | €56,645 | +€22,155 | +64.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,990 | €54,145 | +€22,155 | +69.3% |
| Amounts payable | 17/49 | €64,695 | €61,251 | -€3,444 | -5.3% |
| Amounts payable after more than one year | 17 | €31,290 | €20,404 | -€10,886 | -34.8% |
| Financial debts | 170/4 | €31,290 | €20,404 | -€10,886 | -34.8% |
| Amounts payable within one year | 42/48 | €33,405 | €40,847 | +€7,442 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €9,681 | €10,886 | +€1,206 | +12.5% |
| Trade debts | 44 | €2,053 | €781 | -€1,271 | -61.9% |
| Suppliers | 440/4 | €2,053 | €781 | -€1,271 | -61.9% |
| Taxes, remuneration and social security | 45 | €19,058 | €27,848 | +€8,790 | +46.1% |
| Taxes | 450/3 | €16,637 | €24,179 | +€7,542 | +45.3% |
| Remuneration and social security | 454/9 | €2,421 | €3,669 | +€1,248 | +51.6% |
| Other amounts payable | 47/48 | €2,614 | €1,332 | -€1,282 | -49.1% |
| Remuneration, social security and pensions | 62 | €17,365 | €25,704 | +€8,339 | +48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,112 | €10,014 | +€7,902 | +374% |
| Other operating charges | 640/8 | €45 | €3,327 | +€3,282 | +7,294% |
| Gross operating margin | 9900 | €67,084 | €71,208 | +€4,124 | +6.1% |
| Operating profit (loss) | 9901 | €47,562 | €32,163 | -€15,399 | -32.4% |
| Financial income | 75/76B | €0 | €825 | +€825 | +8,251,500% |
| Recurring financial income | 75 | €0 | €825 | +€825 | +8,251,500% |
| Financial charges | 65/66B | €909 | €2,921 | +€2,012 | +221% |
| Recurring financial charges | 65 | €909 | €2,921 | +€2,012 | +221% |
| Profit (loss) for the period before taxes | 9903 | €46,652 | €30,067 | -€16,585 | -35.6% |
| Income taxes | 67/77 | €9,698 | €7,912 | -€1,786 | -18.4% |
| Profit (loss) for the period | 9904 | €36,954 | €22,155 | -€14,799 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,954 | €22,155 | -€14,799 | -40.0% |
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 19 October 2026 via checked.be.