Smart Products: 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 Products
Largest movements
- Cash -€171,822
down €171,822 (-26.3%), from €652,240 to €480,418
mainly Investment in fixed assets (net) (-€94,240) and Net result for the year (-€91,411)
- Receivables within one year -€131,240
down €131,240 (-77.4%), from €169,560 to €38,320
of which Other amounts receivable: -€80,040
- Tangible fixed assets +€92,270
up €92,270 (+2,346%), from €3,934 to €96,204
of which Furniture and vehicles: +€94,240
- Profit (loss) carried forward -€91,411
down €91,411 (-85.1%), from -€107,427 to -€198,838
- Current portion of long-term debt -€68,447
down €68,447 (-83.2%), from €82,285 to €13,838
- Trade debts -€26,073
down €26,073 (-37.0%), from €70,391 to €44,318
- Advances received -€23,388
no longer reported in 2024 (was €23,388)
- Debts after one year -€13,838
no longer reported in 2024 (was €13,838)
- Gross operating margin -€374,265
down €374,265, from €343,559 to -€30,706
- Write-downs -€29,113
no longer reported in 2024 (was €29,113)
- Depreciation -€27,452
down €27,452 (-89.4%), from €30,696 to €3,244
- Staff costs +€18,174
up €18,174 (+37.3%), from €48,764 to €66,938
- Financial income +€7,669
up €7,669 (+138%), from €5,545 to €13,214
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €827,007 | €622,109 | -€204,898 | -24.8% |
| Fixed assets | 21/28 | €5,208 | €96,204 | +€90,996 | +1,747% |
| Intangible fixed assets | 21 | €1,274 | - | -€1,274 | |
| Tangible fixed assets | 22/27 | €3,934 | €96,204 | +€92,270 | +2,346% |
| Plant, machinery and equipment | 23 | €3,934 | €1,964 | -€1,970 | -50.1% |
| Furniture and vehicles | 24 | - | €94,240 | +€94,240 | |
| Current assets | 29/58 | €821,799 | €525,905 | -€295,894 | -36.0% |
| Amounts receivable within one year | 40/41 | €169,560 | €38,320 | -€131,240 | -77.4% |
| Trade receivables | 40 | €58,037 | €6,838 | -€51,199 | -88.2% |
| Other amounts receivable | 41 | €111,523 | €31,482 | -€80,040 | -71.8% |
| Cash at bank and in hand | 54/58 | €652,240 | €480,418 | -€171,822 | -26.3% |
| Deferred charges and accrued income | 490/1 | - | €7,167 | +€7,167 | |
| Total equity and liabilities | 10/49 | €827,007 | €622,109 | -€204,898 | -24.8% |
| Equity | 10/15 | €620,573 | €529,162 | -€91,411 | -14.7% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €228,000 | €228,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €178,000 | - | -€178,000 | |
| Distributable reserves | 133 | - | €178,000 | +€178,000 | |
| Profit (loss) carried forward | 14 | -€107,427 | -€198,838 | -€91,411 | -85.1% |
| Amounts payable | 17/49 | €206,434 | €92,947 | -€113,487 | -55.0% |
| Amounts payable after more than one year | 17 | €13,838 | - | -€13,838 | |
| Financial debts | 170/4 | €13,838 | - | -€13,838 | |
| Amounts payable within one year | 42/48 | €185,659 | €86,014 | -€99,646 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €82,285 | €13,838 | -€68,447 | -83.2% |
| Financial debts | 43 | - | €10,183 | +€10,183 | |
| Credit institutions | 430/8 | - | €10,183 | +€10,183 | |
| Trade debts | 44 | €70,391 | €44,318 | -€26,073 | -37.0% |
| Suppliers | 440/4 | €70,391 | €44,318 | -€26,073 | -37.0% |
| Advances received on contracts in progress | 46 | €23,388 | - | -€23,388 | |
| Taxes, remuneration and social security | 45 | €9,596 | €17,674 | +€8,079 | +84.2% |
| Taxes | 450/3 | €8,738 | €8,447 | -€291 | -3.3% |
| Remuneration and social security | 454/9 | €857 | €9,227 | +€8,370 | +976% |
| Accrued charges and deferred income | 492/3 | €6,937 | €6,934 | -€4 | -0.1% |
| Non-recurring operating income | 76A | €234,990 | - | -€234,990 | |
| Remuneration, social security and pensions | 62 | €48,764 | €66,938 | +€18,174 | +37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,696 | €3,244 | -€27,452 | -89.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29,113 | - | -€29,113 | |
| Other operating charges | 640/8 | €2,286 | €118 | -€2,168 | -94.8% |
| Non-recurring operating charges | 66A | €20,718 | - | -€20,718 | |
| Gross operating margin | 9900 | €343,559 | -€30,706 | -€374,265 | |
| Operating profit (loss) | 9901 | €211,983 | -€101,006 | -€312,989 | |
| Financial income | 75/76B | €5,545 | €13,214 | +€7,669 | +138% |
| Recurring financial income | 75 | €5,545 | €13,214 | +€7,669 | +138% |
| Financial charges | 65/66B | €10,734 | €3,619 | -€7,115 | -66.3% |
| Recurring financial charges | 65 | €10,734 | €3,619 | -€7,115 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | €206,794 | -€91,411 | -€298,205 | |
| Income taxes | 67/77 | €225 | - | -€225 | |
| Profit (loss) for the period | 9904 | €206,569 | -€91,411 | -€297,980 | |
| Profit (loss) for the period to be appropriated | 9905 | €206,569 | -€91,411 | -€297,980 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.