Smart Mind: 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 Mind
Largest movements
- Cash +€67,424
up €67,424 (+39.4%), from €171,283 to €238,707
mainly Net result for the year (+€38,808) and Receivables within one year (+€30,091)
- Receivables within one year -€30,091
down €30,091 (-31.5%), from €95,541 to €65,451
of which Other amounts receivable: -€15,865
- Deferred charges and accrued income -€3,336
down €3,336 (-91.3%), from €3,654 to €319
- Reserves +€37,970
up €37,970 (+25.1%), from €151,440 to €189,410
- Trade debts -€11,730
down €11,730 (-87.2%), from €13,454 to €1,724
- Other debts +€6,973
up €6,973 (+33.3%), from €20,918 to €27,892
- Accrued charges and deferred income +€3,565
new in 2025: €3,565
- Gross operating margin -€23,920
down €23,920 (-27.0%), from €88,597 to €64,677
- Depreciation -€9,686
down €9,686 (-67.9%), from €14,267 to €4,581
- Taxes -€4,887
down €4,887 (-23.2%), from €21,098 to €16,211
- Financial income -€1,690
down €1,690 (-76.7%), from €2,203 to €513
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 | €293,725 | €329,281 | +€35,555 | +12.1% |
| Fixed assets | 21/28 | €14,002 | €13,808 | -€194 | -1.4% |
| Intangible fixed assets | 21 | - | €2,604 | +€2,604 | |
| Tangible fixed assets | 22/27 | €14,002 | €11,204 | -€2,798 | -20.0% |
| Plant, machinery and equipment | 23 | €7,584 | €5,448 | -€2,136 | -28.2% |
| Furniture and vehicles | 24 | €6,418 | €5,756 | -€662 | -10.3% |
| Current assets | 29/58 | €279,724 | €315,472 | +€35,749 | +12.8% |
| Amounts receivable after more than one year | 29 | €5,000 | €3,907 | -€1,093 | -21.9% |
| Other amounts receivable | 291 | €5,000 | €3,907 | -€1,093 | -21.9% |
| Stocks and contracts in progress | 3 | €4,245 | €7,089 | +€2,844 | +67.0% |
| Stocks | 30/36 | €4,245 | €7,089 | +€2,844 | +67.0% |
| Amounts receivable within one year | 40/41 | €95,541 | €65,451 | -€30,091 | -31.5% |
| Trade receivables | 40 | €74,766 | €60,540 | -€14,226 | -19.0% |
| Other amounts receivable | 41 | €20,775 | €4,910 | -€15,865 | -76.4% |
| Cash at bank and in hand | 54/58 | €171,283 | €238,707 | +€67,424 | +39.4% |
| Deferred charges and accrued income | 490/1 | €3,654 | €319 | -€3,336 | -91.3% |
| Total equity and liabilities | 10/49 | €293,725 | €329,281 | +€35,555 | +12.1% |
| Equity | 10/15 | €256,916 | €294,892 | +€37,975 | +14.8% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €151,440 | €189,410 | +€37,970 | +25.1% |
| Distributable reserves | 133 | €151,440 | €189,410 | +€37,970 | +25.1% |
| Profit (loss) carried forward | 14 | €476 | €482 | +€5 | +1.1% |
| Amounts payable | 17/49 | €36,809 | €34,389 | -€2,420 | -6.6% |
| Amounts payable within one year | 42/48 | €36,809 | €30,824 | -€5,985 | -16.3% |
| Financial debts | 43 | €104 | - | -€104 | |
| Credit institutions | 430/8 | €104 | - | -€104 | |
| Trade debts | 44 | €13,454 | €1,724 | -€11,730 | -87.2% |
| Suppliers | 440/4 | €13,454 | €1,724 | -€11,730 | -87.2% |
| Taxes, remuneration and social security | 45 | €2,333 | €1,208 | -€1,125 | -48.2% |
| Taxes | 450/3 | €2,333 | €1,208 | -€1,125 | -48.2% |
| Other amounts payable | 47/48 | €20,918 | €27,892 | +€6,973 | +33.3% |
| Accrued charges and deferred income | 492/3 | - | €3,565 | +€3,565 | |
| Non-recurring operating income | 76A | - | €227 | +€227 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,267 | €4,581 | -€9,686 | -67.9% |
| Other operating charges | 640/8 | €659 | €1,341 | +€682 | +104% |
| Gross operating margin | 9900 | €88,597 | €64,677 | -€23,920 | -27.0% |
| Operating profit (loss) | 9901 | €73,671 | €58,755 | -€14,916 | -20.2% |
| Financial income | 75/76B | €2,203 | €513 | -€1,690 | -76.7% |
| Recurring financial income | 75 | €2,203 | €513 | -€1,690 | -76.7% |
| Financial charges | 65/66B | €3,501 | €4,249 | +€748 | +21.4% |
| Recurring financial charges | 65 | €3,008 | €4,176 | +€1,168 | +38.8% |
| Non-recurring financial charges | 66B | €493 | €73 | -€420 | -85.2% |
| Profit (loss) for the period before taxes | 9903 | €72,374 | €55,019 | -€17,355 | -24.0% |
| Income taxes | 67/77 | €21,098 | €16,211 | -€4,887 | -23.2% |
| Profit (loss) for the period | 9904 | €51,276 | €38,808 | -€12,468 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,276 | €38,808 | -€12,468 | -24.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.