SMART PACK: 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 PACK
Largest movements
- Stocks and contracts -€23,500
down €23,500 (-31.5%), from €74,560 to €51,060
- Receivables within one year +€9,334
up €9,334 (+81.2%), from €11,500 to €20,834
- Tangible fixed assets -€5,657
down €5,657 (-93.6%), from €6,044 to €387
- Cash -€4,161
down €4,161 (-34.9%), from €11,922 to €7,762
mainly Trade debts (-€25,122) and Contributions, distributions and other (-€15,506)
- Trade debts -€25,122
down €25,122 (-35.7%), from €70,304 to €45,182
- Profit (loss) carried forward -€12,677
no longer reported in 2025 (was €12,677)
- Other debts +€9,296
up €9,296 (+113.6%), from €8,187 to €17,483
- Tax, wage and social debts +€4,519
up €4,519 (+41.6%), from €10,858 to €15,378
- Purchases and services -€362,414
no longer reported in 2025 (was €362,414)
- Turnover -€355,920
no longer reported in 2025 (was €355,920)
- Gross operating margin +€16,210
up €16,210, from -€2,257 to €13,953
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 | €104,026 | €80,043 | -€23,983 | -23.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €6,044 | €387 | -€5,657 | -93.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €6,044 | €387 | -€5,657 | -93.6% |
| Furniture and vehicles | 24 | €6,044 | €387 | -€5,657 | -93.6% |
| Current assets | 29/58 | €97,982 | €79,655 | -€18,327 | -18.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €74,560 | €51,060 | -€23,500 | -31.5% |
| Stocks | 30/36 | €74,560 | €51,060 | -€23,500 | -31.5% |
| Amounts receivable within one year | 40/41 | €11,500 | €20,834 | +€9,334 | +81.2% |
| Trade receivables | 40 | €11,500 | €20,834 | +€9,334 | +81.2% |
| Cash at bank and in hand | 54/58 | €11,922 | €7,762 | -€4,161 | -34.9% |
| Total equity and liabilities | 10/49 | €104,026 | €80,043 | -€23,983 | -23.1% |
| Equity | 10/15 | €14,677 | €2,000 | -€12,677 | -86.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,677 | - | -€12,677 | |
| Amounts payable | 17/49 | €89,349 | €78,043 | -€11,307 | -12.7% |
| Amounts payable within one year | 42/48 | €89,349 | €78,043 | -€11,307 | -12.7% |
| Trade debts | 44 | €70,304 | €45,182 | -€25,122 | -35.7% |
| Suppliers | 440/4 | €70,304 | €45,182 | -€25,122 | -35.7% |
| Taxes, remuneration and social security | 45 | €10,858 | €15,378 | +€4,519 | +41.6% |
| Taxes | 450/3 | €10,858 | €15,378 | +€4,519 | +41.6% |
| Other amounts payable | 47/48 | €8,187 | €17,483 | +€9,296 | +113.6% |
| Turnover | 70 | €355,920 | - | -€355,920 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €362,414 | - | -€362,414 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,269 | €5,657 | +€387 | +7.4% |
| Other operating charges | 640/8 | €5,627 | €5,223 | -€405 | -7.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€2,257 | €13,953 | +€16,210 | |
| Operating profit (loss) | 9901 | -€13,154 | €3,074 | +€16,227 | |
| Financial charges | 65/66B | €148 | €153 | +€5 | +3.4% |
| Recurring financial charges | 65 | €148 | €153 | +€5 | +3.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€13,302 | €2,920 | +€16,222 | |
| Income taxes | 67/77 | €584 | €91 | -€493 | -84.4% |
| Profit (loss) for the period | 9904 | -€13,886 | €2,829 | +€16,715 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,886 | €2,829 | +€16,715 |
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 5 October 2026 via checked.be.