Smart Logistic Solutions: 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 Logistic Solutions
Largest movements
- Receivables within one year -€67,129
down €67,129 (-41.4%), from €161,966 to €94,837
of which Trade receivables: -€59,834
- Cash -€33,895
down €33,895 (-83.8%), from €40,433 to €6,538
mainly Net result for the year (-€66,729) and Tax, wage and social debts (-€35,830)
- Deferred charges and accrued income -€5,316
down €5,316 (-100.0%), from €5,316 to €0
- Profit (loss) carried forward -€66,729
down €66,729 (-47.6%), from €140,324 to €73,595
- Tax, wage and social debts -€35,830
down €35,830 (-87.2%), from €41,092 to €5,262
of which Taxes: -€23,473
- Accrued charges and deferred income -€9,546
down €9,546 (-100.0%), from €9,546 to €0
- Trade debts +€2,754
up €2,754 (+319.7%), from €862 to €3,616
- Gross operating margin -€260,773
down €260,773, from €249,022 to -€11,751
- Staff costs -€228,189
down €228,189 (-82.4%), from €276,860 to €48,671
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 | €224,214 | €114,863 | -€109,351 | -48.8% |
| Fixed assets | 21/28 | €14,870 | €13,488 | -€1,382 | -9.3% |
| Tangible fixed assets | 22/27 | €3,283 | €1,901 | -€1,382 | -42.1% |
| Land and buildings | 22 | €2,773 | €1,849 | -€924 | -33.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €509 | €52 | -€458 | -89.8% |
| Financial fixed assets | 28 | €11,588 | €11,588 | = | 0.0% |
| Current assets | 29/58 | €209,343 | €101,375 | -€107,969 | -51.6% |
| Stocks and contracts in progress | 3 | €1,630 | €0 | -€1,630 | -100.0% |
| Stocks | 30/36 | €1,630 | €0 | -€1,630 | -100.0% |
| Amounts receivable within one year | 40/41 | €161,966 | €94,837 | -€67,129 | -41.4% |
| Trade receivables | 40 | €139,895 | €80,061 | -€59,834 | -42.8% |
| Other amounts receivable | 41 | €22,070 | €14,776 | -€7,294 | -33.1% |
| Cash at bank and in hand | 54/58 | €40,433 | €6,538 | -€33,895 | -83.8% |
| Deferred charges and accrued income | 490/1 | €5,316 | €0 | -€5,316 | -100.0% |
| Total equity and liabilities | 10/49 | €224,214 | €114,863 | -€109,351 | -48.8% |
| Equity | 10/15 | €170,037 | €103,308 | -€66,729 | -39.2% |
| Reserves | 13 | €29,713 | €29,713 | = | 0.0% |
| Distributable reserves | 133 | €29,713 | €29,713 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,324 | €73,595 | -€66,729 | -47.6% |
| Provisions and deferred taxes | 16 | €2,000 | €2,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €2,000 | €2,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable | 17/49 | €52,177 | €9,555 | -€42,622 | -81.7% |
| Amounts payable within one year | 42/48 | €42,631 | €9,555 | -€33,075 | -77.6% |
| Current portion of amounts payable after more than one year | 42 | €677 | €677 | = | 0.0% |
| Trade debts | 44 | €862 | €3,616 | +€2,754 | +319.7% |
| Suppliers | 440/4 | €862 | €3,616 | +€2,754 | +319.7% |
| Taxes, remuneration and social security | 45 | €41,092 | €5,262 | -€35,830 | -87.2% |
| Taxes | 450/3 | €28,735 | €5,262 | -€23,473 | -81.7% |
| Remuneration and social security | 454/9 | €12,357 | €0 | -€12,357 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €9,546 | €0 | -€9,546 | -100.0% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €276,860 | €48,671 | -€228,189 | -82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,777 | €1,382 | -€395 | -22.2% |
| Other operating charges | 640/8 | €4,321 | €2,165 | -€2,155 | -49.9% |
| Gross operating margin | 9900 | €249,022 | -€11,751 | -€260,773 | |
| Operating profit (loss) | 9901 | -€33,935 | -€63,969 | -€30,033 | -88.5% |
| Financial income | 75/76B | €2,531 | €109 | -€2,421 | -95.7% |
| Recurring financial income | 75 | €2,531 | €109 | -€2,421 | -95.7% |
| Financial charges | 65/66B | €2,943 | €2,280 | -€663 | -22.5% |
| Recurring financial charges | 65 | €1,138 | €2,280 | +€1,142 | +100.4% |
| Non-recurring financial charges | 66B | €1,805 | €0 | -€1,805 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€34,348 | -€66,139 | -€31,792 | -92.6% |
| Income taxes | 67/77 | €362 | €590 | +€228 | +63.0% |
| Profit (loss) for the period | 9904 | -€34,709 | -€66,729 | -€32,019 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,709 | -€66,729 | -€32,019 | -92.3% |
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.