SMART PROJECTS: 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.
What changed
SMART PROJECTS
NACE 62.100, Computer programming
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€74,211
2024 · €67,881+€6,330
Equity
€971,318
2024 · €897,939+€73,378
Cash
€125,594
2024 · €133,898-€8,304
Balance sheet total
€1.1m
2024 · €1.0m+€86,247
Largest movements
Assets
- Current investments +€98,517
up €98,517 (+11.2%), from €875,770 to €974,287
Equity and liabilities
- Reserves +€73,378
up €73,378 (+8.2%), from €897,939 to €971,318
Income statement
- Taxes -€12,628
down €12,628 (-39.9%), from €31,614 to €18,986
- Gross operating margin -€10,920
down €10,920 (-17.2%), from €63,539 to €52,619
- Financial income +€10,568
up €10,568 (+21.3%), from €49,624 to €60,191
- Financial charges +€6,696
up €6,696 (+68.4%), from €9,788 to €16,483
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.
Result 2024
€67,881
Gross operating margin
-€10,920
Depreciation
+€515
Other operating charges
+€235
Financial income
+€10,568
Financial charges
-€6,696
Taxes
+€12,628
Result 2025
€74,211
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.
From operations
+€81,046
Investment
-€98,517
Financing
+€9,167
Cash 2024
€133,898
From operations (derived)
+€81,046
Net result for the year
+€74,211
Depreciation
+€1,225
Receivables within one year
+€2,260
Deferred charges and accrued income
+€480
Trade debts
+€86
Tax, wage and social debts
+€2,450
Other debts
-€2,431
Accrued charges and deferred income
+€2,764
Investment (derived)
-€98,517
Current investments
-€98,517
Financing
+€9,167
Debts after one year
+€10,000
Contributions, distributions and other
-€833
Cash 2025
€125,594
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,028,801 | €1,115,049 | +€86,247 | +8.4% |
| Fixed assets | 21/28 | €1,789 | €563 | -€1,225 | -68.5% |
| Tangible fixed assets | 22/27 | €1,789 | €563 | -€1,225 | -68.5% |
| Plant, machinery and equipment | 23 | €1,789 | €563 | -€1,225 | -68.5% |
| Current assets | 29/58 | €1,027,013 | €1,114,485 | +€87,472 | +8.5% |
| Amounts receivable within one year | 40/41 | €16,519 | €14,259 | -€2,260 | -13.7% |
| Trade receivables | 40 | €11,753 | €13,337 | +€1,584 | +13.5% |
| Other amounts receivable | 41 | €4,766 | €923 | -€3,843 | -80.6% |
| Current investments | 50/53 | €875,770 | €974,287 | +€98,517 | +11.2% |
| Cash at bank and in hand | 54/58 | €133,898 | €125,594 | -€8,304 | -6.2% |
| Deferred charges and accrued income | 490/1 | €825 | €345 | -€480 | -58.2% |
| Total equity and liabilities | 10/49 | €1,028,801 | €1,115,049 | +€86,247 | +8.4% |
| Equity | 10/15 | €897,939 | €971,318 | +€73,378 | +8.2% |
| Reserves | 13 | €897,939 | €971,318 | +€73,378 | +8.2% |
| Distributable reserves | 133 | €897,939 | €971,318 | +€73,378 | +8.2% |
| Amounts payable | 17/49 | €130,862 | €143,731 | +€12,869 | +9.8% |
| Amounts payable after more than one year | 17 | €110,000 | €120,000 | +€10,000 | +9.1% |
| Other amounts payable | 178/9 | €110,000 | €120,000 | +€10,000 | +9.1% |
| Amounts payable within one year | 42/48 | €13,954 | €14,059 | +€105 | +0.8% |
| Trade debts | 44 | €874 | €960 | +€86 | +9.9% |
| Suppliers | 440/4 | €874 | €960 | +€86 | +9.9% |
| Taxes, remuneration and social security | 45 | €1,300 | €3,750 | +€2,450 | +188.5% |
| Taxes | 450/3 | €1,300 | €1,300 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €2,450 | +€2,450 | |
| Other amounts payable | 47/48 | €11,780 | €9,349 | -€2,431 | -20.6% |
| Accrued charges and deferred income | 492/3 | €6,908 | €9,672 | +€2,764 | +40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,740 | €1,225 | -€515 | -29.6% |
| Other operating charges | 640/8 | €2,140 | €1,905 | -€235 | -11.0% |
| Gross operating margin | 9900 | €63,539 | €52,619 | -€10,920 | -17.2% |
| Operating profit (loss) | 9901 | €59,659 | €49,489 | -€10,170 | -17.0% |
| Financial income | 75/76B | €49,624 | €60,191 | +€10,568 | +21.3% |
| Recurring financial income | 75 | €49,624 | €60,191 | +€10,568 | +21.3% |
| Financial charges | 65/66B | €9,788 | €16,483 | +€6,696 | +68.4% |
| Recurring financial charges | 65 | €9,788 | €16,483 | +€6,696 | +68.4% |
| Profit (loss) for the period before taxes | 9903 | €99,495 | €93,197 | -€6,298 | -6.3% |
| Income taxes | 67/77 | €31,614 | €18,986 | -€12,628 | -39.9% |
| Profit (loss) for the period | 9904 | €67,881 | €74,211 | +€6,330 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €67,881 | €74,211 | +€6,330 | +9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.