Smart Power Hub: 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 Power Hub
Largest movements
- Tangible fixed assets +€485,535
new in 2025: €485,535
- Stocks and contracts +€228,419
new in 2025: €228,419
- Cash +€94,952
up €94,952 (+69,818%), from €136 to €95,088
mainly Debts after one year (+€283,057) and Trade debts (+€270,004)
- Receivables within one year +€76,434
up €76,434 (+5,797%), from €1,319 to €77,753
of which Trade receivables: +€41,104
- Intangible fixed assets +€48,928
up €48,928 (+172%), from €28,426 to €77,354
- Debts after one year +€283,057
new in 2025: €283,057
- Trade debts +€270,004
new in 2025: €270,004
- Accrued charges and deferred income +€211,364
up €211,364 (+673%), from €31,409 to €242,773
- Other debts +€165,897
up €165,897 (+2,370%), from €7,000 to €172,897
- Current portion of long-term debt +€15,661
new in 2025: €15,661
- Gross operating margin +€15,094
up €15,094, from -€1,340 to €13,753
- Depreciation +€10,429
up €10,429 (+129%), from €8,071 to €18,500
- Financial charges +€6,395
up €6,395 (+5,491%), from €116 to €6,511
- Financial income +€604
new in 2025: €604
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 | €29,881 | €965,148 | +€935,268 | +3,130% |
| Fixed assets | 21/28 | €28,426 | €563,888 | +€535,462 | +1,884% |
| Intangible fixed assets | 21 | €28,426 | €77,354 | +€48,928 | +172% |
| Tangible fixed assets | 22/27 | - | €485,535 | +€485,535 | |
| Plant, machinery and equipment | 23 | - | €485,535 | +€485,535 | |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €1,455 | €401,260 | +€399,805 | +27,486% |
| Stocks and contracts in progress | 3 | - | €228,419 | +€228,419 | |
| Stocks | 30/36 | - | €228,419 | +€228,419 | |
| Amounts receivable within one year | 40/41 | €1,319 | €77,753 | +€76,434 | +5,797% |
| Trade receivables | 40 | - | €41,104 | +€41,104 | |
| Other amounts receivable | 41 | €1,319 | €36,649 | +€35,330 | +2,679% |
| Cash at bank and in hand | 54/58 | €136 | €95,088 | +€94,952 | +69,818% |
| Total equity and liabilities | 10/49 | €29,881 | €965,148 | +€935,268 | +3,130% |
| Equity | 10/15 | -€8,528 | -€19,244 | -€10,716 | -126% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,528 | -€20,244 | -€10,716 | -112% |
| Amounts payable | 17/49 | €38,409 | €984,392 | +€945,984 | +2,463% |
| Amounts payable after more than one year | 17 | - | €283,057 | +€283,057 | |
| Financial debts | 170/4 | - | €283,057 | +€283,057 | |
| Amounts payable within one year | 42/48 | €7,000 | €458,562 | +€451,562 | +6,451% |
| Current portion of amounts payable after more than one year | 42 | - | €15,661 | +€15,661 | |
| Trade debts | 44 | - | €270,004 | +€270,004 | |
| Suppliers | 440/4 | - | €270,004 | +€270,004 | |
| Other amounts payable | 47/48 | €7,000 | €172,897 | +€165,897 | +2,370% |
| Accrued charges and deferred income | 492/3 | €31,409 | €242,773 | +€211,364 | +673% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,071 | €18,500 | +€10,429 | +129% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | -€1,340 | €13,753 | +€15,094 | |
| Operating profit (loss) | 9901 | -€9,411 | -€4,809 | +€4,602 | +48.9% |
| Financial income | 75/76B | - | €604 | +€604 | |
| Recurring financial income | 75 | - | €604 | +€604 | |
| Financial charges | 65/66B | €116 | €6,511 | +€6,395 | +5,491% |
| Recurring financial charges | 65 | €116 | €6,511 | +€6,395 | +5,491% |
| Profit (loss) for the period before taxes | 9903 | -€9,528 | -€10,716 | -€1,188 | -12.5% |
| Profit (loss) for the period | 9904 | -€9,528 | -€10,716 | -€1,188 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,528 | -€10,716 | -€1,188 | -12.5% |
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 25 October 2026 via checked.be.