Smart Partnership Interim Management: 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 Partnership Interim Management
Largest movements
- Cash -€15,503
down €15,503 (-18.7%), from €82,783 to €67,280
mainly Contributions, distributions and other (-€52,272) and Deferred charges and accrued income (-€2,668)
- Deferred charges and accrued income +€2,668
up €2,668 (+126%), from €2,116 to €4,784
- Tangible fixed assets +€1,185
up €1,185 (+309%), from €383 to €1,569
- Profit (loss) carried forward -€53,356
down €53,356 (-72.7%), from €73,426 to €20,070
- Other debts +€36,543
up €36,543 (+802%), from €4,554 to €41,097
- Tax, wage and social debts +€2,391
up €2,391 (+18.6%), from €12,836 to €15,227
- Trade debts +€2,089
up €2,089 (+29.0%), from €7,214 to €9,303
- Financial charges +€57,023
up €57,023 (+2,797%), from €2,039 to €59,062
- Gross operating margin -€36,264
down €36,264 (-37.8%), from €95,851 to €59,587
- Taxes -€18,928
down €18,928 (-96.4%), from €19,626 to €698
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 | €100,924 | €88,620 | -€12,304 | -12.2% |
| Fixed assets | 21/28 | €438 | €1,624 | +€1,185 | +270% |
| Tangible fixed assets | 22/27 | €383 | €1,569 | +€1,185 | +309% |
| Furniture and vehicles | 24 | €383 | €1,569 | +€1,185 | +309% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €100,485 | €86,996 | -€13,489 | -13.4% |
| Amounts receivable within one year | 40/41 | €15,586 | €14,932 | -€654 | -4.2% |
| Trade receivables | 40 | €12,521 | €13,540 | +€1,020 | +8.1% |
| Other amounts receivable | 41 | €3,065 | €1,392 | -€1,673 | -54.6% |
| Cash at bank and in hand | 54/58 | €82,783 | €67,280 | -€15,503 | -18.7% |
| Deferred charges and accrued income | 490/1 | €2,116 | €4,784 | +€2,668 | +126% |
| Total equity and liabilities | 10/49 | €100,924 | €88,620 | -€12,304 | -12.2% |
| Equity | 10/15 | €75,926 | €22,570 | -€53,356 | -70.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,426 | €20,070 | -€53,356 | -72.7% |
| Amounts payable | 17/49 | €24,998 | €66,050 | +€41,053 | +164% |
| Amounts payable within one year | 42/48 | €24,604 | €65,627 | +€41,023 | +167% |
| Trade debts | 44 | €7,214 | €9,303 | +€2,089 | +29.0% |
| Suppliers | 440/4 | €7,214 | €9,303 | +€2,089 | +29.0% |
| Taxes, remuneration and social security | 45 | €12,836 | €15,227 | +€2,391 | +18.6% |
| Taxes | 450/3 | €12,836 | €15,227 | +€2,391 | +18.6% |
| Other amounts payable | 47/48 | €4,554 | €41,097 | +€36,543 | +802% |
| Accrued charges and deferred income | 492/3 | €393 | €423 | +€29 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €328 | -€56 | -14.7% |
| Other operating charges | 640/8 | €376 | €584 | +€208 | +55.4% |
| Gross operating margin | 9900 | €95,851 | €59,587 | -€36,264 | -37.8% |
| Operating profit (loss) | 9901 | €95,091 | €58,676 | -€36,415 | -38.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,039 | €59,062 | +€57,023 | +2,797% |
| Recurring financial charges | 65 | €2,039 | €59,062 | +€57,023 | +2,797% |
| Profit (loss) for the period before taxes | 9903 | €93,052 | -€386 | -€93,439 | |
| Income taxes | 67/77 | €19,626 | €698 | -€18,928 | -96.4% |
| Profit (loss) for the period | 9904 | €73,426 | -€1,084 | -€74,510 | |
| Profit (loss) for the period to be appropriated | 9905 | €73,426 | -€1,084 | -€74,510 |
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 20 October 2026 via checked.be.