Smart Move, Move Smart: 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 Move, Move Smart
Largest movements
- Deferred charges and accrued income +€72,686
up €72,686 (+66.8%), from €108,742 to €181,428
- Tangible fixed assets -€45,375
down €45,375 (-3.7%), from €1.2m to €1.2m
of which Land and buildings: -€56,925
- Reserves +€73,163
up €73,163 (+27.1%), from €269,709 to €342,872
- Debts after one year -€58,125
down €58,125 (-7.2%), from €810,541 to €752,417
- Tax, wage and social debts +€25,847
up €25,847 (+227%), from €11,404 to €37,251
- Trade debts -€21,928
down €21,928 (-46.5%), from €47,164 to €25,236
- Gross operating margin +€45,763
up €45,763 (+27.9%), from €163,739 to €209,502
- Taxes +€30,247
up €30,247 (+903%), from €3,351 to €33,598
- Depreciation -€26,612
down €26,612 (-24.2%), from €109,967 to €83,355
- Other operating charges +€4,646
up €4,646 (+401%), from €1,157 to €5,803
- Financial charges -€3,159
down €3,159 (-18.8%), from €16,780 to €13,621
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 | €1,352,585 | €1,379,499 | +€26,914 | +2.0% |
| Fixed assets | 21/28 | €1,224,976 | €1,170,229 | -€54,747 | -4.5% |
| Intangible fixed assets | 21 | €9,372 | - | -€9,372 | |
| Tangible fixed assets | 22/27 | €1,214,333 | €1,168,958 | -€45,375 | -3.7% |
| Land and buildings | 22 | €1,177,695 | €1,120,770 | -€56,925 | -4.8% |
| Plant, machinery and equipment | 23 | €35,705 | €47,639 | +€11,934 | +33.4% |
| Furniture and vehicles | 24 | €933 | €550 | -€384 | -41.1% |
| Financial fixed assets | 28 | €1,270 | €1,270 | = | 0.0% |
| Current assets | 29/58 | €127,609 | €209,270 | +€81,661 | +64.0% |
| Amounts receivable within one year | 40/41 | €1,881 | €3,244 | +€1,363 | +72.5% |
| Trade receivables | 40 | €1,881 | €2,618 | +€736 | +39.2% |
| Other amounts receivable | 41 | - | €627 | +€627 | |
| Cash at bank and in hand | 54/58 | €16,986 | €24,598 | +€7,612 | +44.8% |
| Deferred charges and accrued income | 490/1 | €108,742 | €181,428 | +€72,686 | +66.8% |
| Total equity and liabilities | 10/49 | €1,352,585 | €1,379,499 | +€26,914 | +2.0% |
| Equity | 10/15 | €389,709 | €462,872 | +€73,163 | +18.8% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €269,709 | €342,872 | +€73,163 | +27.1% |
| Distributable reserves | 133 | €269,709 | €342,872 | +€73,163 | +27.1% |
| Amounts payable | 17/49 | €962,876 | €916,627 | -€46,249 | -4.8% |
| Amounts payable after more than one year | 17 | €810,541 | €752,417 | -€58,125 | -7.2% |
| Financial debts | 170/4 | €810,541 | €752,417 | -€58,125 | -7.2% |
| Amounts payable within one year | 42/48 | €96,928 | €100,612 | +€3,683 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €37,610 | €38,125 | +€514 | +1.4% |
| Trade debts | 44 | €47,164 | €25,236 | -€21,928 | -46.5% |
| Suppliers | 440/4 | €47,164 | €25,236 | -€21,928 | -46.5% |
| Taxes, remuneration and social security | 45 | €11,404 | €37,251 | +€25,847 | +227% |
| Taxes | 450/3 | €11,404 | €37,251 | +€25,847 | +227% |
| Other amounts payable | 47/48 | €750 | - | -€750 | |
| Accrued charges and deferred income | 492/3 | €55,406 | €63,598 | +€8,192 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,967 | €83,355 | -€26,612 | -24.2% |
| Other operating charges | 640/8 | €1,157 | €5,803 | +€4,646 | +401% |
| Gross operating margin | 9900 | €163,739 | €209,502 | +€45,763 | +27.9% |
| Operating profit (loss) | 9901 | €52,614 | €120,344 | +€67,730 | +129% |
| Financial income | 75/76B | €1,030 | €38 | -€992 | -96.3% |
| Recurring financial income | 75 | €1,030 | €38 | -€992 | -96.3% |
| Financial charges | 65/66B | €16,780 | €13,621 | -€3,159 | -18.8% |
| Recurring financial charges | 65 | €16,780 | €13,621 | -€3,159 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €36,865 | €106,762 | +€69,897 | +190% |
| Income taxes | 67/77 | €3,351 | €33,598 | +€30,247 | +903% |
| Profit (loss) for the period | 9904 | €33,514 | €73,163 | +€39,649 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €33,514 | €73,163 | +€39,649 | +118% |
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 23 October 2026 via checked.be.