SMART’IMMMO: 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’IMMMO
Largest movements
- Tangible fixed assets -€10,909
down €10,909 (-3.0%), from €358,271 to €347,362
- Debts after one year -€13,380
down €13,380 (-5.5%), from €242,079 to €228,699
- Other debts +€9,198
up €9,198 (+7.8%), from €117,239 to €126,437
- Profit (loss) carried forward -€7,007
down €7,007 (-51.6%), from -€13,573 to -€20,581
- Gross operating margin +€25,186
up €25,186, from -€10,027 to €15,159
- Depreciation +€9,181
up €9,181 (+531%), from €1,729 to €10,909
- Financial charges +€8,297
up €8,297 (+497%), from €1,671 to €9,968
- Other operating charges +€1,143
up €1,143 (+780%), from €147 to €1,289
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 | €361,980 | €350,935 | -€11,045 | -3.1% |
| Fixed assets | 21/28 | €358,271 | €347,362 | -€10,909 | -3.0% |
| Tangible fixed assets | 22/27 | €358,271 | €347,362 | -€10,909 | -3.0% |
| Land and buildings | 22 | €358,271 | €347,362 | -€10,909 | -3.0% |
| Current assets | 29/58 | €3,708 | €3,572 | -€136 | -3.7% |
| Amounts receivable within one year | 40/41 | €2,820 | - | -€2,820 | |
| Trade receivables | 40 | €1,531 | - | -€1,531 | |
| Other amounts receivable | 41 | €1,289 | - | -€1,289 | |
| Cash at bank and in hand | 54/58 | €888 | €3,572 | +€2,684 | +302% |
| Total equity and liabilities | 10/49 | €361,980 | €350,935 | -€11,045 | -3.1% |
| Equity | 10/15 | -€10,573 | -€17,581 | -€7,007 | -66.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,573 | -€20,581 | -€7,007 | -51.6% |
| Amounts payable | 17/49 | €372,553 | €368,516 | -€4,037 | -1.1% |
| Amounts payable after more than one year | 17 | €242,079 | €228,699 | -€13,380 | -5.5% |
| Financial debts | 170/4 | €242,079 | €228,699 | -€13,380 | -5.5% |
| Amounts payable within one year | 42/48 | €130,474 | €139,817 | +€9,342 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €12,871 | €13,380 | +€509 | +4.0% |
| Trade debts | 44 | €364 | - | -€364 | |
| Suppliers | 440/4 | €364 | - | -€364 | |
| Other amounts payable | 47/48 | €117,239 | €126,437 | +€9,198 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,729 | €10,909 | +€9,181 | +531% |
| Other operating charges | 640/8 | €147 | €1,289 | +€1,143 | +780% |
| Gross operating margin | 9900 | -€10,027 | €15,159 | +€25,186 | |
| Operating profit (loss) | 9901 | -€11,903 | €2,960 | +€14,863 | |
| Financial charges | 65/66B | €1,671 | €9,968 | +€8,297 | +497% |
| Recurring financial charges | 65 | €1,671 | €9,968 | +€8,297 | +497% |
| Profit (loss) for the period before taxes | 9903 | -€13,573 | -€7,007 | +€6,566 | +48.4% |
| Profit (loss) for the period | 9904 | -€13,573 | -€7,007 | +€6,566 | +48.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,573 | -€7,007 | +€6,566 | +48.4% |
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 17 October 2026 via checked.be.