SMART ROOTS: 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 ROOTS
Largest movements
- Tangible fixed assets -€16,153
down €16,153 (-8.7%), from €185,140 to €168,987
of which Plant, machinery and equipment: -€15,913
- Cash +€10,305
up €10,305 (+96.8%), from €10,642 to €20,947
mainly Depreciation (+€33,719) and Net result for the year (+€5,518)
- Receivables within one year +€6,735
up €6,735 (+58.7%), from €11,474 to €18,209
of which Trade receivables: +€6,645
- Stocks and contracts -€4,114
down €4,114 (-13.0%), from €31,666 to €27,553
- Debts after one year -€13,468
down €13,468 (-12.8%), from €105,556 to €92,088
- Profit (loss) carried forward +€5,518
up €5,518 (+114.0%), from €4,842 to €10,361
- Tax, wage and social debts +€4,323
up €4,323 (+66.4%), from €6,513 to €10,836
- Depreciation +€3,698
up €3,698 (+12.3%), from €30,021 to €33,719
- Gross operating margin +€3,114
up €3,114 (+6.6%), from €47,124 to €50,238
- Other operating charges -€646
down €646 (-17.8%), from €3,622 to €2,976
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 | €239,507 | €236,041 | -€3,467 | -1.4% |
| Formation expenses | 20 | €446 | €204 | -€241 | -54.1% |
| Fixed assets | 21/28 | €185,280 | €169,127 | -€16,153 | -8.7% |
| Tangible fixed assets | 22/27 | €185,140 | €168,987 | -€16,153 | -8.7% |
| Plant, machinery and equipment | 23 | €174,449 | €158,536 | -€15,913 | -9.1% |
| Furniture and vehicles | 24 | €891 | €652 | -€240 | -26.9% |
| Leasing and similar rights | 25 | €9,800 | €9,800 | = | 0.0% |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €53,782 | €66,709 | +€12,927 | +24.0% |
| Stocks and contracts in progress | 3 | €31,666 | €27,553 | -€4,114 | -13.0% |
| Stocks | 30/36 | €31,666 | €27,553 | -€4,114 | -13.0% |
| Amounts receivable within one year | 40/41 | €11,474 | €18,209 | +€6,735 | +58.7% |
| Trade receivables | 40 | €11,384 | €18,029 | +€6,645 | +58.4% |
| Other amounts receivable | 41 | €89 | €179 | +€90 | +100.6% |
| Cash at bank and in hand | 54/58 | €10,642 | €20,947 | +€10,305 | +96.8% |
| Total equity and liabilities | 10/49 | €239,507 | €236,041 | -€3,467 | -1.4% |
| Equity | 10/15 | €64,842 | €70,361 | +€5,518 | +8.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,842 | €10,361 | +€5,518 | +114.0% |
| Amounts payable | 17/49 | €174,665 | €165,680 | -€8,985 | -5.1% |
| Amounts payable after more than one year | 17 | €105,556 | €92,088 | -€13,468 | -12.8% |
| Financial debts | 170/4 | €105,556 | €92,088 | -€13,468 | -12.8% |
| Amounts payable within one year | 42/48 | €69,109 | €73,592 | +€4,483 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €15,496 | €15,496 | = | 0.0% |
| Trade debts | 44 | €659 | €884 | +€224 | +34.0% |
| Suppliers | 440/4 | €659 | €884 | +€224 | +34.0% |
| Taxes, remuneration and social security | 45 | €6,513 | €10,836 | +€4,323 | +66.4% |
| Taxes | 450/3 | €6,513 | €10,836 | +€4,323 | +66.4% |
| Other amounts payable | 47/48 | €46,441 | €46,377 | -€64 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,021 | €33,719 | +€3,698 | +12.3% |
| Other operating charges | 640/8 | €3,622 | €2,976 | -€646 | -17.8% |
| Gross operating margin | 9900 | €47,124 | €50,238 | +€3,114 | +6.6% |
| Operating profit (loss) | 9901 | €13,481 | €13,543 | +€63 | +0.5% |
| Financial charges | 65/66B | €6,574 | €6,226 | -€348 | -5.3% |
| Recurring financial charges | 65 | €6,574 | €6,226 | -€348 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €6,907 | €7,317 | +€411 | +5.9% |
| Income taxes | 67/77 | €1,393 | €1,799 | +€406 | +29.2% |
| Profit (loss) for the period | 9904 | €5,514 | €5,518 | +€4 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,514 | €5,518 | +€4 | +0.1% |
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 4 October 2026 via checked.be.