SMART IMPACT: 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 IMPACT
Largest movements
- Cash -€309,442
down €309,442 (-71.0%), from €435,659 to €126,217
mainly Contributions, distributions and other (-€515,000) and Receivables within one year (-€27,788)
- Receivables within one year +€27,788
up €27,788 (+43.2%), from €64,260 to €92,048
of which Trade receivables: +€26,459
- Tangible fixed assets -€11,378
down €11,378 (-66.2%), from €17,193 to €5,815
- Reserves -€435,000
down €435,000 (-75.7%), from €575,000 to €140,000
- Other debts +€134,069
up €134,069 (+9176.6%), from €1,461 to €135,530
- Financial income -€38,895
down €38,895 (-99.4%), from €39,139 to €244
- Taxes -€3,356
down €3,356 (-11.1%), from €30,257 to €26,901
- Gross operating margin +€1,470
up €1,470 (+1.2%), from €123,118 to €124,588
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 | €610,844 | €319,286 | -€291,557 | -47.7% |
| Fixed assets | 21/28 | €17,343 | €5,965 | -€11,378 | -65.6% |
| Tangible fixed assets | 22/27 | €17,193 | €5,815 | -€11,378 | -66.2% |
| Furniture and vehicles | 24 | €17,193 | €5,815 | -€11,378 | -66.2% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €593,501 | €313,321 | -€280,180 | -47.2% |
| Amounts receivable within one year | 40/41 | €64,260 | €92,048 | +€27,788 | +43.2% |
| Trade receivables | 40 | €53,417 | €79,876 | +€26,459 | +49.5% |
| Other amounts receivable | 41 | €10,843 | €12,172 | +€1,329 | +12.3% |
| Current investments | 50/53 | €86,842 | €87,012 | +€171 | +0.2% |
| Cash at bank and in hand | 54/58 | €435,659 | €126,217 | -€309,442 | -71.0% |
| Deferred charges and accrued income | 490/1 | €6,741 | €8,044 | +€1,303 | +19.3% |
| Total equity and liabilities | 10/49 | €610,844 | €319,286 | -€291,557 | -47.7% |
| Equity | 10/15 | €585,367 | €151,087 | -€434,280 | -74.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €575,000 | €140,000 | -€435,000 | -75.7% |
| Distributable reserves | 133 | €575,000 | €140,000 | -€435,000 | -75.7% |
| Profit (loss) carried forward | 14 | €367 | €1,087 | +€720 | +196.4% |
| Amounts payable | 17/49 | €25,477 | €168,199 | +€142,722 | +560.2% |
| Amounts payable within one year | 42/48 | €25,477 | €168,199 | +€142,722 | +560.2% |
| Trade debts | 44 | €5,428 | €8,239 | +€2,811 | +51.8% |
| Suppliers | 440/4 | €5,428 | €8,239 | +€2,811 | +51.8% |
| Taxes, remuneration and social security | 45 | €18,588 | €24,431 | +€5,843 | +31.4% |
| Taxes | 450/3 | €18,588 | €24,431 | +€5,843 | +31.4% |
| Other amounts payable | 47/48 | €1,461 | €135,530 | +€134,069 | +9176.6% |
| Non-recurring operating income | 76A | - | €2,066 | +€2,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,446 | €14,849 | +€402 | +2.8% |
| Other operating charges | 640/8 | €1,276 | €1,494 | +€218 | +17.1% |
| Gross operating margin | 9900 | €123,118 | €124,588 | +€1,470 | +1.2% |
| Operating profit (loss) | 9901 | €107,396 | €108,245 | +€849 | +0.8% |
| Financial income | 75/76B | €39,139 | €244 | -€38,895 | -99.4% |
| Recurring financial income | 75 | €39,139 | €244 | -€38,895 | -99.4% |
| Financial charges | 65/66B | €623 | €868 | +€244 | +39.2% |
| Recurring financial charges | 65 | €623 | €868 | +€244 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €145,912 | €107,621 | -€38,290 | -26.2% |
| Income taxes | 67/77 | €30,257 | €26,901 | -€3,356 | -11.1% |
| Profit (loss) for the period | 9904 | €115,655 | €80,720 | -€34,934 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €115,655 | €80,720 | -€34,934 | -30.2% |
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 11 October 2026 via checked.be.