SMART MIND: 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 MIND
Largest movements
- Receivables within one year -€25,468
down €25,468 (-81.6%), from €31,201 to €5,733
of which Trade receivables: -€24,946
- Cash -€7,897
down €7,897 (-12.0%), from €66,056 to €58,159
mainly Net result for the year (-€32,421) and Accrued charges and deferred income (-€672)
- Profit (loss) carried forward -€32,421
down €32,421 (-125.4%), from -€25,849 to -€58,270
- Gross operating margin -€10,846
down €10,846, from €6,527 to -€4,319
- Staff costs -€4,735
down €4,735 (-15.5%), from €30,498 to €25,764
- Financial charges -€104
down €104 (-17.3%), from €599 to €496
- Taxes +€88
up €88 (+19.6%), from €446 to €534
- Depreciation +€81
up €81 (+34.6%), from €233 to €314
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 | €479,286 | €445,702 | -€33,585 | -7.0% |
| Fixed assets | 21/28 | €381,338 | €381,023 | -€314 | -0.1% |
| Tangible fixed assets | 22/27 | €1,338 | €1,023 | -€314 | -23.5% |
| Plant, machinery and equipment | 23 | €1,338 | €1,023 | -€314 | -23.5% |
| Financial fixed assets | 28 | €380,000 | €380,000 | = | 0.0% |
| Current assets | 29/58 | €97,949 | €64,678 | -€33,270 | -34.0% |
| Amounts receivable within one year | 40/41 | €31,201 | €5,733 | -€25,468 | -81.6% |
| Trade receivables | 40 | €24,946 | - | -€24,946 | |
| Other amounts receivable | 41 | €6,255 | €5,733 | -€522 | -8.3% |
| Cash at bank and in hand | 54/58 | €66,056 | €58,159 | -€7,897 | -12.0% |
| Deferred charges and accrued income | 490/1 | €692 | €787 | +€95 | +13.7% |
| Total equity and liabilities | 10/49 | €479,286 | €445,702 | -€33,585 | -7.0% |
| Equity | 10/15 | €465,476 | €433,055 | -€32,421 | -7.0% |
| Contributions | 10/11 | €381,000 | €381,000 | = | 0.0% |
| Reserves | 13 | €110,325 | €110,325 | = | 0.0% |
| Distributable reserves | 133 | €110,325 | €110,325 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,849 | -€58,270 | -€32,421 | -125.4% |
| Amounts payable | 17/49 | €13,811 | €12,647 | -€1,164 | -8.4% |
| Amounts payable within one year | 42/48 | €9,547 | €9,055 | -€492 | -5.2% |
| Trade debts | 44 | - | €96 | +€96 | |
| Suppliers | 440/4 | - | €96 | +€96 | |
| Taxes, remuneration and social security | 45 | €7,587 | €6,998 | -€589 | -7.8% |
| Taxes | 450/3 | €4,788 | €6,998 | +€2,211 | +46.2% |
| Remuneration and social security | 454/9 | €2,799 | - | -€2,799 | |
| Other amounts payable | 47/48 | €1,960 | €1,960 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,264 | €3,592 | -€672 | -15.8% |
| Remuneration, social security and pensions | 62 | €30,498 | €25,764 | -€4,735 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €233 | €314 | +€81 | +34.6% |
| Other operating charges | 640/8 | €989 | €994 | +€5 | +0.5% |
| Gross operating margin | 9900 | €6,527 | -€4,319 | -€10,846 | |
| Operating profit (loss) | 9901 | -€25,194 | -€31,391 | -€6,197 | -24.6% |
| Financial charges | 65/66B | €599 | €496 | -€104 | -17.3% |
| Recurring financial charges | 65 | €599 | €496 | -€104 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€25,794 | -€31,887 | -€6,093 | -23.6% |
| Income taxes | 67/77 | €446 | €534 | +€88 | +19.6% |
| Profit (loss) for the period | 9904 | -€26,240 | -€32,421 | -€6,181 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,240 | -€32,421 | -€6,181 | -23.6% |
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 30 September 2026 via checked.be.