Smart Property: 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 Property
Largest movements
- Cash +€434,171
up €434,171 (+1759.5%), from €24,676 to €458,847
mainly Current investments (+€366,000) and Receivables within one year (+€49,726)
- Current investments -€366,000
down €366,000 (-70.8%), from €517,000 to €151,000
- Receivables within one year -€49,726
down €49,726 (-54.3%), from €91,537 to €41,812
of which Trade receivables: -€45,584
- Deferred charges and accrued income +€10,000
new in 2025: €10,000
- Tangible fixed assets -€7,091
down €7,091 (-15.9%), from €44,715 to €37,623
of which Furniture and vehicles: -€3,903
- Reserves +€25,529
up €25,529 (+3.9%), from €650,322 to €675,852
- Gross operating margin -€66,047
down €66,047 (-61.3%), from €107,769 to €41,722
- Taxes -€18,962
down €18,962 (-64.6%), from €29,363 to €10,401
- Other operating charges +€1,906
up €1,906 (+316.2%), from €603 to €2,509
- Financial income +€1,169
up €1,169 (+10.5%), from €11,133 to €12,302
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 | €678,024 | €699,378 | +€21,354 | +3.1% |
| Fixed assets | 21/28 | €44,811 | €37,719 | -€7,091 | -15.8% |
| Tangible fixed assets | 22/27 | €44,715 | €37,623 | -€7,091 | -15.9% |
| Furniture and vehicles | 24 | €32,663 | €28,760 | -€3,903 | -11.9% |
| Other tangible fixed assets | 26 | €12,051 | €8,863 | -€3,188 | -26.5% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €633,213 | €661,659 | +€28,446 | +4.5% |
| Amounts receivable within one year | 40/41 | €91,537 | €41,812 | -€49,726 | -54.3% |
| Trade receivables | 40 | €85,584 | €40,000 | -€45,584 | -53.3% |
| Other amounts receivable | 41 | €5,954 | €1,812 | -€4,142 | -69.6% |
| Current investments | 50/53 | €517,000 | €151,000 | -€366,000 | -70.8% |
| Cash at bank and in hand | 54/58 | €24,676 | €458,847 | +€434,171 | +1759.5% |
| Deferred charges and accrued income | 490/1 | - | €10,000 | +€10,000 | |
| Total equity and liabilities | 10/49 | €678,024 | €699,378 | +€21,354 | +3.1% |
| Equity | 10/15 | €660,322 | €685,852 | +€25,529 | +3.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €650,322 | €675,852 | +€25,529 | +3.9% |
| Distributable reserves | 133 | €650,322 | €675,852 | +€25,529 | +3.9% |
| Amounts payable | 17/49 | €17,701 | €13,526 | -€4,175 | -23.6% |
| Amounts payable within one year | 42/48 | €17,701 | €13,526 | -€4,175 | -23.6% |
| Trade debts | 44 | €3,077 | €3,168 | +€92 | +3.0% |
| Suppliers | 440/4 | €3,077 | €3,168 | +€92 | +3.0% |
| Taxes, remuneration and social security | 45 | €9,827 | €4,200 | -€5,627 | -57.3% |
| Taxes | 450/3 | €9,827 | - | -€9,827 | |
| Remuneration and social security | 454/9 | - | €4,200 | +€4,200 | |
| Other amounts payable | 47/48 | €4,797 | €6,158 | +€1,361 | +28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,230 | €14,965 | +€735 | +5.2% |
| Other operating charges | 640/8 | €603 | €2,509 | +€1,906 | +316.2% |
| Gross operating margin | 9900 | €107,769 | €41,722 | -€66,047 | -61.3% |
| Operating profit (loss) | 9901 | €92,936 | €24,249 | -€68,688 | -73.9% |
| Financial income | 75/76B | €11,133 | €12,302 | +€1,169 | +10.5% |
| Recurring financial income | 75 | €11,133 | €12,302 | +€1,169 | +10.5% |
| Financial charges | 65/66B | €319 | €620 | +€300 | +94.0% |
| Recurring financial charges | 65 | €319 | €620 | +€300 | +94.0% |
| Profit (loss) for the period before taxes | 9903 | €103,749 | €35,930 | -€67,819 | -65.4% |
| Income taxes | 67/77 | €29,363 | €10,401 | -€18,962 | -64.6% |
| Profit (loss) for the period | 9904 | €74,386 | €25,529 | -€48,857 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,386 | €25,529 | -€48,857 | -65.7% |
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 12 October 2026 via checked.be.