SMART HEATING: 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 HEATING
Largest movements
- Receivables within one year +€3,744
up €3,744 (+10.8%), from €34,746 to €38,490
of which Trade receivables: +€4,650
- Profit (loss) carried forward -€6,248
down €6,248 (-87.9%), from €7,107 to €859
- Trade debts +€5,429
up €5,429 (+276.5%), from €1,963 to €7,392
- Reserves +€4,000
up €4,000 (+183.9%), from €2,175 to €6,175
- Other debts +€1,359
up €1,359 (+7.2%), from €18,910 to €20,269
- Tax, wage and social debts -€516
down €516 (-21.0%), from €2,458 to €1,941
- Gross operating margin -€7,199
down €7,199 (-76.1%), from €9,460 to €2,261
- Taxes -€559
down €559 (-22.3%), from €2,500 to €1,941
- Depreciation -€418
down €418 (-98.8%), from €423 to €5
- Financial charges +€407
up €407 (+69.1%), from €588 to €995
- Other operating charges +€241
up €241 (+30.0%), from €802 to €1,043
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 | €34,778 | €38,646 | +€3,869 | +11.1% |
| Fixed assets | 21/28 | €5 | €0 | -€5 | -100.0% |
| Tangible fixed assets | 22/27 | €5 | €0 | -€5 | -100.0% |
| Plant, machinery and equipment | 23 | €5 | €0 | -€5 | -100.0% |
| Current assets | 29/58 | €34,773 | €38,646 | +€3,874 | +11.1% |
| Amounts receivable within one year | 40/41 | €34,746 | €38,490 | +€3,744 | +10.8% |
| Trade receivables | 40 | €32,746 | €37,396 | +€4,650 | +14.2% |
| Other amounts receivable | 41 | €2,000 | €1,094 | -€906 | -45.3% |
| Cash at bank and in hand | 54/58 | €27 | €91 | +€64 | +237.9% |
| Deferred charges and accrued income | 490/1 | - | €65 | +€65 | |
| Total equity and liabilities | 10/49 | €34,778 | €38,646 | +€3,869 | +11.1% |
| Equity | 10/15 | €11,282 | €9,034 | -€2,248 | -19.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €2,175 | €6,175 | +€4,000 | +183.9% |
| Distributable reserves | 133 | €2,175 | €6,175 | +€4,000 | +183.9% |
| Profit (loss) carried forward | 14 | €7,107 | €859 | -€6,248 | -87.9% |
| Amounts payable | 17/49 | €23,496 | €29,612 | +€6,117 | +26.0% |
| Amounts payable within one year | 42/48 | €23,331 | €29,603 | +€6,272 | +26.9% |
| Trade debts | 44 | €1,963 | €7,392 | +€5,429 | +276.5% |
| Suppliers | 440/4 | €1,963 | €7,392 | +€5,429 | +276.5% |
| Taxes, remuneration and social security | 45 | €2,458 | €1,941 | -€516 | -21.0% |
| Taxes | 450/3 | €2,458 | €1,941 | -€516 | -21.0% |
| Other amounts payable | 47/48 | €18,910 | €20,269 | +€1,359 | +7.2% |
| Accrued charges and deferred income | 492/3 | €164 | €10 | -€155 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €423 | €5 | -€418 | -98.8% |
| Other operating charges | 640/8 | €802 | €1,043 | +€241 | +30.0% |
| Gross operating margin | 9900 | €9,460 | €2,261 | -€7,199 | -76.1% |
| Operating profit (loss) | 9901 | €8,236 | €1,214 | -€7,022 | -85.3% |
| Financial income | 75/76B | €5 | €42 | +€37 | +672.5% |
| Recurring financial income | 75 | €5 | €42 | +€37 | +672.5% |
| Financial charges | 65/66B | €588 | €995 | +€407 | +69.1% |
| Recurring financial charges | 65 | €588 | €995 | +€407 | +69.1% |
| Profit (loss) for the period before taxes | 9903 | €7,653 | €261 | -€7,392 | -96.6% |
| Income taxes | 67/77 | €2,500 | €1,941 | -€559 | -22.3% |
| Profit (loss) for the period | 9904 | €5,153 | -€1,680 | -€6,833 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,153 | -€1,680 | -€6,833 |
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 3 October 2026 via checked.be.