SMART-ON: 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-ON
Largest movements
- Cash +€9,582
up €9,582 (+54.6%), from €17,542 to €27,125
mainly Net result for the year (+€11,727) and Receivables within one year (+€6,870)
- Receivables within one year -€6,870
down €6,870 (-58.0%), from €11,848 to €4,978
of which Trade receivables: -€7,771
- Deferred charges and accrued income -€1,902
down €1,902 (-90.7%), from €2,097 to €195
- Intangible fixed assets -€882
down €882 (-30.5%), from €2,895 to €2,013
- Reserves +€11,727
up €11,727 (+98.8%), from €11,867 to €23,594
- Other debts -€6,052
no longer reported in 2025 (was €6,052)
- Trade debts -€5,686
down €5,686 (-65.7%), from €8,648 to €2,962
- Gross operating margin +€14,050
up €14,050 (+248.2%), from €5,661 to €19,711
- Taxes +€2,438
up €2,438 (+154.3%), from €1,580 to €4,018
- Depreciation +€489
up €489 (+22.9%), from €2,135 to €2,624
- Other operating charges +€201
up €201 (+23.2%), from €867 to €1,068
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 | €37,419 | €37,565 | +€147 | +0.4% |
| Fixed assets | 21/28 | €5,931 | €5,268 | -€663 | -11.2% |
| Intangible fixed assets | 21 | €2,895 | €2,013 | -€882 | -30.5% |
| Tangible fixed assets | 22/27 | €3,036 | €3,255 | +€219 | +7.2% |
| Plant, machinery and equipment | 23 | €1,704 | €2,306 | +€602 | +35.3% |
| Furniture and vehicles | 24 | €1,332 | €949 | -€383 | -28.8% |
| Current assets | 29/58 | €31,488 | €32,298 | +€810 | +2.6% |
| Amounts receivable within one year | 40/41 | €11,848 | €4,978 | -€6,870 | -58.0% |
| Trade receivables | 40 | €11,848 | €4,077 | -€7,771 | -65.6% |
| Other amounts receivable | 41 | - | €901 | +€901 | |
| Cash at bank and in hand | 54/58 | €17,542 | €27,125 | +€9,582 | +54.6% |
| Deferred charges and accrued income | 490/1 | €2,097 | €195 | -€1,902 | -90.7% |
| Total equity and liabilities | 10/49 | €37,419 | €37,565 | +€147 | +0.4% |
| Equity | 10/15 | €13,867 | €25,594 | +€11,727 | +84.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €11,867 | €23,594 | +€11,727 | +98.8% |
| Distributable reserves | 133 | €11,867 | €23,594 | +€11,727 | +98.8% |
| Amounts payable | 17/49 | €23,552 | €11,971 | -€11,581 | -49.2% |
| Amounts payable within one year | 42/48 | €23,552 | €11,971 | -€11,581 | -49.2% |
| Trade debts | 44 | €8,648 | €2,962 | -€5,686 | -65.7% |
| Suppliers | 440/4 | €8,648 | €2,962 | -€5,686 | -65.7% |
| Taxes, remuneration and social security | 45 | €8,851 | €9,009 | +€157 | +1.8% |
| Taxes | 450/3 | €8,851 | €9,009 | +€157 | +1.8% |
| Other amounts payable | 47/48 | €6,052 | - | -€6,052 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,135 | €2,624 | +€489 | +22.9% |
| Other operating charges | 640/8 | €867 | €1,068 | +€201 | +23.2% |
| Gross operating margin | 9900 | €5,661 | €19,711 | +€14,050 | +248.2% |
| Operating profit (loss) | 9901 | €2,658 | €16,019 | +€13,361 | +502.6% |
| Financial income | 75/76B | €6 | €11 | +€4 | +66.2% |
| Recurring financial income | 75 | €6 | €11 | +€4 | +66.2% |
| Financial charges | 65/66B | €135 | €284 | +€149 | +110.5% |
| Recurring financial charges | 65 | €135 | €284 | +€149 | +110.5% |
| Profit (loss) for the period before taxes | 9903 | €2,530 | €15,745 | +€13,216 | +522.4% |
| Income taxes | 67/77 | €1,580 | €4,018 | +€2,438 | +154.3% |
| Profit (loss) for the period | 9904 | €950 | €11,727 | +€10,778 | +1135.0% |
| Profit (loss) for the period to be appropriated | 9905 | €950 | €11,727 | +€10,778 | +1135.0% |
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 9 October 2026 via checked.be.