Smart-Force: what changed
Two fiscal 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-Force
Largest movements
- Cash -€9,376
down €9,376 (-6.4%), from €147,225 to €137,849
mainly Contributions, distributions and other (-€117,647) and Tax, wage and social debts (-€17,792)
- Receivables within one year +€7,456
up €7,456 (+50.7%), from €14,702 to €22,157
of which Other amounts receivable: +€5,044
- Tangible fixed assets +€5,424
up €5,424 (+67.5%), from €8,039 to €13,463
of which Plant, machinery and equipment: +€2,904
- Profit (loss) carried forward -€133,797
down €133,797 (-100.0%), from €133,797 to €0
- Other debts +€99,508
up €99,508 (+2140.2%), from €4,649 to €104,157
- Reserves +€52,179
new in 2025: €52,179
- Tax, wage and social debts -€17,792
down €17,792 (-57.2%), from €31,102 to €13,310
of which Taxes: -€15,092
- Accrued charges and deferred income +€2,700
new in 2025: €2,700
- Gross operating margin -€27,678
down €27,678 (-34.7%), from €79,840 to €52,162
- Taxes -€5,848
down €5,848 (-36.7%), from €15,926 to €10,078
- Depreciation +€3,152
up €3,152 (+209.6%), from €1,504 to €4,656
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 | €172,805 | €175,881 | +€3,076 | +1.8% |
| Fixed assets | 21/28 | €9,198 | €14,246 | +€5,048 | +54.9% |
| Intangible fixed assets | 21 | €1,160 | €783 | -€377 | -32.5% |
| Tangible fixed assets | 22/27 | €8,039 | €13,463 | +€5,424 | +67.5% |
| Plant, machinery and equipment | 23 | €2,802 | €5,706 | +€2,904 | +103.6% |
| Furniture and vehicles | 24 | €5,237 | €7,757 | +€2,520 | +48.1% |
| Current assets | 29/58 | €163,607 | €161,635 | -€1,972 | -1.2% |
| Amounts receivable within one year | 40/41 | €14,702 | €22,157 | +€7,456 | +50.7% |
| Trade receivables | 40 | €14,702 | €17,113 | +€2,411 | +16.4% |
| Other amounts receivable | 41 | - | €5,044 | +€5,044 | |
| Cash at bank and in hand | 54/58 | €147,225 | €137,849 | -€9,376 | -6.4% |
| Deferred charges and accrued income | 490/1 | €1,680 | €1,629 | -€51 | -3.1% |
| Total equity and liabilities | 10/49 | €172,805 | €175,881 | +€3,076 | +1.8% |
| Equity | 10/15 | €136,797 | €55,179 | -€81,618 | -59.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €52,179 | +€52,179 | |
| Distributable reserves | 133 | - | €52,179 | +€52,179 | |
| Profit (loss) carried forward | 14 | €133,797 | €0 | -€133,797 | -100.0% |
| Amounts payable | 17/49 | €36,008 | €120,702 | +€84,694 | +235.2% |
| Amounts payable within one year | 42/48 | €36,008 | €118,002 | +€81,994 | +227.7% |
| Trade debts | 44 | €257 | €534 | +€278 | +108.2% |
| Suppliers | 440/4 | €257 | €534 | +€278 | +108.2% |
| Taxes, remuneration and social security | 45 | €31,102 | €13,310 | -€17,792 | -57.2% |
| Taxes | 450/3 | €28,402 | €13,310 | -€15,092 | -53.1% |
| Remuneration and social security | 454/9 | €2,700 | €0 | -€2,700 | -100.0% |
| Other amounts payable | 47/48 | €4,649 | €104,157 | +€99,508 | +2140.2% |
| Accrued charges and deferred income | 492/3 | - | €2,700 | +€2,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,504 | €4,656 | +€3,152 | +209.6% |
| Other operating charges | 640/8 | €64 | €465 | +€402 | +629.5% |
| Gross operating margin | 9900 | €79,840 | €52,162 | -€27,678 | -34.7% |
| Operating profit (loss) | 9901 | €78,273 | €47,041 | -€31,232 | -39.9% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | €1,173 | €933 | -€241 | -20.5% |
| Recurring financial charges | 65 | €1,173 | €933 | -€241 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €77,105 | €46,108 | -€30,998 | -40.2% |
| Income taxes | 67/77 | €15,926 | €10,078 | -€5,848 | -36.7% |
| Profit (loss) for the period | 9904 | €61,179 | €36,029 | -€25,150 | -41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,179 | €36,029 | -€25,150 | -41.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.