SMART PROTECT: 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.
SMART PROTECT
Largest movements
- Receivables within one year +€18,837
up €18,837 (+126.6%), from €14,884 to €33,721
of which Trade receivables: +€19,755
- Deferred charges and accrued income +€14,764
new in 2025: €14,764
- Tangible fixed assets -€4,931
down €4,931 (-60.7%), from €8,118 to €3,187
- Cash -€3,001
down €3,001 (-49.6%), from €6,046 to €3,045
mainly Receivables within one year (-€18,837) and Deferred charges and accrued income (-€14,764)
- Profit (loss) carried forward +€17,952
up €17,952 (+118.3%), from €15,180 to €33,132
- Tax, wage and social debts +€4,488
up €4,488 (+114.8%), from €3,910 to €8,398
- Trade debts +€3,522
up €3,522 (+2024.1%), from €174 to €3,696
- Turnover -€225,643
no longer reported in 2025 (was €225,643)
- Purchases and services -€194,618
no longer reported in 2025 (was €194,618)
- Depreciation -€6,532
down €6,532 (-80.5%), from €8,118 to €1,586
- Other operating charges -€2,679
down €2,679 (-85.5%), from €3,134 to €455
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 | €29,048 | €54,717 | +€25,669 | +88.4% |
| Fixed assets | 21/28 | €8,118 | €3,187 | -€4,931 | -60.7% |
| Tangible fixed assets | 22/27 | €8,118 | €3,187 | -€4,931 | -60.7% |
| Furniture and vehicles | 24 | €8,118 | €3,187 | -€4,931 | -60.7% |
| Current assets | 29/58 | €20,930 | €51,530 | +€30,600 | +146.2% |
| Amounts receivable within one year | 40/41 | €14,884 | €33,721 | +€18,837 | +126.6% |
| Trade receivables | 40 | €12,932 | €32,687 | +€19,755 | +152.8% |
| Other amounts receivable | 41 | €1,952 | €1,034 | -€918 | -47.0% |
| Cash at bank and in hand | 54/58 | €6,046 | €3,045 | -€3,001 | -49.6% |
| Deferred charges and accrued income | 490/1 | - | €14,764 | +€14,764 | |
| Total equity and liabilities | 10/49 | €29,048 | €54,717 | +€25,669 | +88.4% |
| Equity | 10/15 | €15,680 | €33,632 | +€17,952 | +114.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,180 | €33,132 | +€17,952 | +118.3% |
| Amounts payable | 17/49 | €13,368 | €21,085 | +€7,717 | +57.7% |
| Amounts payable within one year | 42/48 | €13,368 | €21,085 | +€7,717 | +57.7% |
| Trade debts | 44 | €174 | €3,696 | +€3,522 | +2024.1% |
| Suppliers | 440/4 | €174 | €3,696 | +€3,522 | +2024.1% |
| Taxes, remuneration and social security | 45 | €3,910 | €8,398 | +€4,488 | +114.8% |
| Taxes | 450/3 | €3,910 | €8,398 | +€4,488 | +114.8% |
| Other amounts payable | 47/48 | €9,284 | €8,991 | -€293 | -3.2% |
| Turnover | 70 | €225,643 | - | -€225,643 | |
| Goods, raw materials, services and sundry goods | 60/61 | €194,618 | - | -€194,618 | |
| Remuneration, social security and pensions | 62 | €278 | €358 | +€80 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,118 | €1,586 | -€6,532 | -80.5% |
| Other operating charges | 640/8 | €3,134 | €455 | -€2,679 | -85.5% |
| Non-recurring operating charges | 66A | - | €1,750 | +€1,750 | |
| Gross operating margin | 9900 | €31,025 | €28,863 | -€2,162 | -7.0% |
| Operating profit (loss) | 9901 | €19,495 | €24,714 | +€5,219 | +26.8% |
| Financial income | 75/76B | - | €342 | +€342 | |
| Recurring financial income | 75 | - | €342 | +€342 | |
| Financial charges | 65/66B | €405 | €2,616 | +€2,211 | +545.9% |
| Recurring financial charges | 65 | €405 | €2,616 | +€2,211 | +545.9% |
| Profit (loss) for the period before taxes | 9903 | €19,090 | €22,440 | +€3,350 | +17.5% |
| Income taxes | 67/77 | €3,910 | €4,487 | +€577 | +14.8% |
| Profit (loss) for the period | 9904 | €15,180 | €17,953 | +€2,773 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,180 | €17,953 | +€2,773 | +18.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.