Smart-E-Grid: 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-E-Grid
Largest movements
- Cash -€1.2m
down €1.2m (-77.2%), from €1.5m to €346,431
mainly Investment in fixed assets (net) (-€659,445) and Other debts (-€500,000)
- Tangible fixed assets +€456,773
new in 2026: €456,773
of which Plant, machinery and equipment: +€455,623
- Receivables within one year -€74,127
down €74,127 (-9.4%), from €786,994 to €712,867
of which Other amounts receivable: -€75,213
- Stocks and contracts -€33,512
down €33,512 (-100%), from €33,512 to €0
- Other debts -€500,000
down €500,000 (-100%), from €500,000 to €0
- Accrued charges and deferred income -€303,206
down €303,206 (-65.4%), from €463,685 to €160,479
- Short-term financial debts -€292,393
down €292,393 (-87.6%), from €333,939 to €41,546
- Trade debts +€163,745
up €163,745 (+104%), from €156,717 to €320,462
- Profit (loss) carried forward +€113,995
up €113,995 (+14.8%), from €767,666 to €881,660
- Gross operating margin -€711,889
down €711,889 (-58.6%), from €1.2m to €502,651
- Taxes -€234,186
down €234,186 (-75.8%), from €309,090 to €74,904
- Depreciation +€204,522
up €204,522 (+1,829%), from €11,182 to €215,704
- Financial charges +€16,986
up €16,986 (+233%), from €7,275 to €24,262
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,421,523 | €1,587,820 | -€833,703 | -34.4% |
| Fixed assets | 21/28 | €84,695 | €528,435 | +€443,741 | +524% |
| Intangible fixed assets | 21 | €84,695 | €71,663 | -€13,032 | -15.4% |
| Tangible fixed assets | 22/27 | - | €456,773 | +€456,773 | |
| Plant, machinery and equipment | 23 | - | €455,623 | +€455,623 | |
| Furniture and vehicles | 24 | - | €1,150 | +€1,150 | |
| Current assets | 29/58 | €2,336,828 | €1,059,384 | -€1.3m | -54.7% |
| Stocks and contracts in progress | 3 | €33,512 | €0 | -€33,512 | -100% |
| Stocks | 30/36 | €33,512 | €0 | -€33,512 | -100% |
| Amounts receivable within one year | 40/41 | €786,994 | €712,867 | -€74,127 | -9.4% |
| Trade receivables | 40 | €660,784 | €661,870 | +€1,086 | +0.2% |
| Other amounts receivable | 41 | €126,211 | €50,998 | -€75,213 | -59.6% |
| Cash at bank and in hand | 54/58 | €1,516,322 | €346,431 | -€1.2m | -77.2% |
| Deferred charges and accrued income | 490/1 | €0 | €86 | +€86 | |
| Total equity and liabilities | 10/49 | €2,421,523 | €1,587,820 | -€833,703 | -34.4% |
| Equity | 10/15 | €792,666 | €906,660 | +€113,995 | +14.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €767,666 | €881,660 | +€113,995 | +14.8% |
| Amounts payable | 17/49 | €1,628,857 | €681,159 | -€947,698 | -58.2% |
| Amounts payable within one year | 42/48 | €1,165,172 | €520,680 | -€644,492 | -55.3% |
| Financial debts | 43 | €333,939 | €41,546 | -€292,393 | -87.6% |
| Credit institutions | 430/8 | €333,939 | €41,546 | -€292,393 | -87.6% |
| Trade debts | 44 | €156,717 | €320,462 | +€163,745 | +104% |
| Suppliers | 440/4 | €156,717 | €320,462 | +€163,745 | +104% |
| Taxes, remuneration and social security | 45 | €174,516 | €158,672 | -€15,843 | -9.1% |
| Taxes | 450/3 | €174,516 | €158,672 | -€15,843 | -9.1% |
| Other amounts payable | 47/48 | €500,000 | €0 | -€500,000 | -100% |
| Accrued charges and deferred income | 492/3 | €463,685 | €160,479 | -€303,206 | -65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,182 | €215,704 | +€204,522 | +1,829% |
| Other operating charges | 640/8 | €606 | €1,392 | +€785 | +129% |
| Gross operating margin | 9900 | €1,214,540 | €502,651 | -€711,889 | -58.6% |
| Operating profit (loss) | 9901 | €1,202,752 | €285,555 | -€917,197 | -76.3% |
| Financial income | 75/76B | €253 | €4,695 | +€4,442 | +1,757% |
| Recurring financial income | 75 | €253 | €4,695 | +€4,442 | +1,757% |
| Financial charges | 65/66B | €7,275 | €24,262 | +€16,986 | +233% |
| Recurring financial charges | 65 | €7,275 | €24,262 | +€16,986 | +233% |
| Profit (loss) for the period before taxes | 9903 | €1,195,729 | €265,989 | -€929,741 | -77.8% |
| Income taxes | 67/77 | €309,090 | €74,904 | -€234,186 | -75.8% |
| Profit (loss) for the period | 9904 | €886,639 | €191,084 | -€695,555 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €886,639 | €191,084 | -€695,555 | -78.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.