SMART MANAGEMENT SYSTEMS: 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 MANAGEMENT SYSTEMS
Largest movements
- Tangible fixed assets +€191,668
new in 2025: €191,668
of which Land and buildings: +€174,364
- Receivables within one year +€28,140
up €28,140 (+10,151%), from €277 to €28,417
- Debts after one year +€138,585
new in 2025: €138,585
of which Financial debts: +€120,435
- Contributions +€65,500
up €65,500 (+1,456%), from €4,500 to €70,000
- Profit (loss) carried forward -€17,513
down €17,513 (-723%), from -€2,421 to -€19,934
- Trade debts +€17,425
up €17,425 (+2,681%), from €650 to €18,075
- Current portion of long-term debt +€12,665
new in 2025: €12,665
- Purchases and services +€20,597
up €20,597 (+2,482%), from €830 to €21,427
- Gross operating margin -€13,597
down €13,597 (-1,638%), from -€830 to -€14,427
- Turnover +€7,000
new in 2025: €7,000
- Financial charges +€2,191
up €2,191 (+5,037%), from €44 to €2,235
- Depreciation +€802
new in 2025: €802
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 | €2,947 | €222,634 | +€219,687 | +7,455% |
| Fixed assets | 21/28 | - | €191,668 | +€191,668 | |
| Tangible fixed assets | 22/27 | - | €191,668 | +€191,668 | |
| Land and buildings | 22 | - | €174,364 | +€174,364 | |
| Other tangible fixed assets | 26 | - | €17,304 | +€17,304 | |
| Current assets | 29/58 | €2,947 | €30,966 | +€28,019 | +951% |
| Amounts receivable within one year | 40/41 | €277 | €28,417 | +€28,140 | +10,151% |
| Other amounts receivable | 41 | €277 | €28,417 | +€28,140 | +10,151% |
| Cash at bank and in hand | 54/58 | €2,670 | €2,549 | -€121 | -4.5% |
| Total equity and liabilities | 10/49 | €2,947 | €222,634 | +€219,687 | +7,455% |
| Equity | 10/15 | €2,079 | €50,066 | +€47,987 | +2,308% |
| Contributions | 10/11 | €4,500 | €70,000 | +€65,500 | +1,456% |
| Capital | 10 | - | €70,000 | +€70,000 | |
| Issued capital | 100 | - | €70,000 | +€70,000 | |
| Profit (loss) carried forward | 14 | -€2,421 | -€19,934 | -€17,513 | -723% |
| Amounts payable | 17/49 | €868 | €172,568 | +€171,700 | +19,786% |
| Amounts payable after more than one year | 17 | - | €138,585 | +€138,585 | |
| Financial debts | 170/4 | - | €120,435 | +€120,435 | |
| Other amounts payable | 178/9 | - | €18,150 | +€18,150 | |
| Amounts payable within one year | 42/48 | €868 | €30,958 | +€30,090 | +3,467% |
| Current portion of amounts payable after more than one year | 42 | - | €12,665 | +€12,665 | |
| Trade debts | 44 | €650 | €18,075 | +€17,425 | +2,681% |
| Suppliers | 440/4 | €650 | €18,075 | +€17,425 | +2,681% |
| Other amounts payable | 47/48 | €218 | €218 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €3,025 | +€3,025 | |
| Turnover | 70 | - | €7,000 | +€7,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €830 | €21,427 | +€20,597 | +2,482% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €802 | +€802 | |
| Other operating charges | 640/8 | - | €50 | +€50 | |
| Gross operating margin | 9900 | -€830 | -€14,427 | -€13,597 | -1,638% |
| Operating profit (loss) | 9901 | -€830 | -€15,279 | -€14,449 | -1,741% |
| Financial charges | 65/66B | €44 | €2,235 | +€2,191 | +5,037% |
| Recurring financial charges | 65 | €44 | €2,235 | +€2,191 | +5,037% |
| Profit (loss) for the period before taxes | 9903 | -€874 | -€17,513 | -€16,640 | -1,905% |
| Profit (loss) for the period | 9904 | -€874 | -€17,513 | -€16,640 | -1,905% |
| Profit (loss) for the period to be appropriated | 9905 | -€874 | -€17,513 | -€16,640 | -1,905% |
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 16 October 2026 via checked.be.