SMART-LAB: 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-LAB
Largest movements
- Current investments +€800,000
up €800,000, from €0 to €800,000
- Deferred charges and accrued income +€56,934
up €56,934 (+3636.2%), from €1,566 to €58,500
- Cash +€39,691
up €39,691 (+15.7%), from €253,418 to €293,110
mainly Accrued charges and deferred income (+€998,976) and Other debts (+€46,173)
- Receivables within one year -€21,476
down €21,476 (-23.6%), from €90,955 to €69,479
of which Trade receivables: -€22,466
- Accrued charges and deferred income +€998,976
up €998,976 (+97543.9%), from €1,024 to €1.0m
- Reserves -€155,185
down €155,185 (-78.7%), from €197,118 to €41,933
- Other debts +€46,173
up €46,173 (+40.9%), from €112,769 to €158,942
- Tax, wage and social debts +€39,817
up €39,817 (+614.4%), from €6,480 to €46,297
- Profit (loss) carried forward -€38,187
down €38,187, from €0 to -€38,187
- Gross operating margin -€170,700
down €170,700, from €133,900 to -€36,800
- Other operating charges -€38,652
down €38,652 (-99.7%), from €38,772 to €120
- Financial charges -€7,412
down €7,412 (-97.9%), from €7,570 to €158
- Taxes -€4,240
down €4,240 (-99.5%), from €4,263 to €23
- Depreciation +€3,084
up €3,084, from €0 to €3,084
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 | €357,816 | €1,229,881 | +€872,066 | +243.7% |
| Fixed assets | 21/28 | €11,877 | €8,793 | -€3,084 | -26.0% |
| Tangible fixed assets | 22/27 | €11,877 | €8,793 | -€3,084 | -26.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €3,542 | €3,350 | -€192 | -5.4% |
| Furniture and vehicles | 24 | €8,335 | €5,442 | -€2,892 | -34.7% |
| Current assets | 29/58 | €345,939 | €1,221,089 | +€875,150 | +253.0% |
| Amounts receivable within one year | 40/41 | €90,955 | €69,479 | -€21,476 | -23.6% |
| Trade receivables | 40 | €81,431 | €58,965 | -€22,466 | -27.6% |
| Other amounts receivable | 41 | €9,523 | €10,514 | +€991 | +10.4% |
| Current investments | 50/53 | €0 | €800,000 | +€800,000 | |
| Cash at bank and in hand | 54/58 | €253,418 | €293,110 | +€39,691 | +15.7% |
| Deferred charges and accrued income | 490/1 | €1,566 | €58,500 | +€56,934 | +3636.2% |
| Total equity and liabilities | 10/49 | €357,816 | €1,229,881 | +€872,066 | +243.7% |
| Equity | 10/15 | €197,118 | €3,746 | -€193,372 | -98.1% |
| Reserves | 13 | €197,118 | €41,933 | -€155,185 | -78.7% |
| Distributable reserves | 133 | €197,118 | €41,933 | -€155,185 | -78.7% |
| Profit (loss) carried forward | 14 | €0 | -€38,187 | -€38,187 | |
| Amounts payable | 17/49 | €160,698 | €1,226,135 | +€1.1m | +663.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €159,674 | €226,135 | +€66,461 | +41.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €40,424 | €20,896 | -€19,528 | -48.3% |
| Suppliers | 440/4 | €40,424 | €20,896 | -€19,528 | -48.3% |
| Taxes, remuneration and social security | 45 | €6,480 | €46,297 | +€39,817 | +614.4% |
| Taxes | 450/3 | €6,480 | €46,297 | +€39,817 | +614.4% |
| Other amounts payable | 47/48 | €112,769 | €158,942 | +€46,173 | +40.9% |
| Accrued charges and deferred income | 492/3 | €1,024 | €1,000,000 | +€998,976 | +97543.9% |
| Non-recurring operating income | 76A | €1,406 | €0 | -€1,406 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €3,084 | +€3,084 | |
| Other operating charges | 640/8 | €38,772 | €120 | -€38,652 | -99.7% |
| Gross operating margin | 9900 | €133,900 | -€36,800 | -€170,700 | |
| Operating profit (loss) | 9901 | €95,128 | -€40,004 | -€135,132 | |
| Financial income | 75/76B | €1,922 | €1,998 | +€76 | +4.0% |
| Recurring financial income | 75 | €1,922 | €1,998 | +€76 | +4.0% |
| Financial charges | 65/66B | €7,570 | €158 | -€7,412 | -97.9% |
| Recurring financial charges | 65 | €7,570 | €158 | -€7,412 | -97.9% |
| Profit (loss) for the period before taxes | 9903 | €89,479 | -€38,164 | -€127,643 | |
| Income taxes | 67/77 | €4,263 | €23 | -€4,240 | -99.5% |
| Profit (loss) for the period | 9904 | €85,216 | -€38,187 | -€123,402 | |
| Profit (loss) for the period to be appropriated | 9905 | €85,216 | -€38,187 | -€123,402 |
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 12 October 2026 via checked.be.