SMART SERVICES GROUP: 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 SERVICES GROUP
Largest movements
- Cash +€87,991
up €87,991 (+236.7%), from €37,174 to €125,165
mainly Net result for the year (+€139,755) and Stocks and contracts (+€52,703)
- Current investments +€75,000
new in 2025: €75,000
- Stocks and contracts -€52,703
down €52,703 (-35.0%), from €150,645 to €97,942
of which Contracts in progress: -€35,129
- Receivables within one year +€13,082
up €13,082 (+5.4%), from €242,072 to €255,155
of which Other amounts receivable: +€35,000
- Financial fixed assets +€9,000
up €9,000 (+112.8%), from €7,980 to €16,980
- Profit (loss) carried forward +€139,755
up €139,755 (+63.2%), from €221,155 to €360,910
- Trade debts -€43,172
down €43,172 (-30.9%), from €139,611 to €96,438
- Tax, wage and social debts +€33,961
up €33,961 (+50.8%), from €66,870 to €100,831
of which Taxes: +€27,878
- Gross operating margin +€234,829
up €234,829 (+179.6%), from €130,719 to €365,548
- Taxes +€55,540
up €55,540 (+725.5%), from €7,655 to €63,195
- Staff costs +€35,342
up €35,342 (+32.8%), from €107,796 to €143,138
- Other operating charges +€8,573
up €8,573 (+593.7%), from €1,444 to €10,017
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 | €457,261 | €587,405 | +€130,144 | +28.5% |
| Fixed assets | 21/28 | €25,387 | €26,508 | +€1,121 | +4.4% |
| Tangible fixed assets | 22/27 | €17,407 | €9,528 | -€7,879 | -45.3% |
| Furniture and vehicles | 24 | €17,407 | €9,528 | -€7,879 | -45.3% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €7,980 | €16,980 | +€9,000 | +112.8% |
| Current assets | 29/58 | €431,874 | €560,897 | +€129,023 | +29.9% |
| Stocks and contracts in progress | 3 | €150,645 | €97,942 | -€52,703 | -35.0% |
| Stocks | 30/36 | €56,074 | €38,500 | -€17,574 | -31.3% |
| Contracts in progress | 37 | €94,571 | €59,442 | -€35,129 | -37.1% |
| Amounts receivable within one year | 40/41 | €242,072 | €255,155 | +€13,082 | +5.4% |
| Trade receivables | 40 | €242,072 | €220,155 | -€21,918 | -9.1% |
| Other amounts receivable | 41 | - | €35,000 | +€35,000 | |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €37,174 | €125,165 | +€87,991 | +236.7% |
| Deferred charges and accrued income | 490/1 | €1,983 | €7,635 | +€5,652 | +285.1% |
| Total equity and liabilities | 10/49 | €457,261 | €587,405 | +€130,144 | +28.5% |
| Equity | 10/15 | €246,651 | €386,406 | +€139,755 | +56.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,896 | €6,896 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,036 | €5,036 | = | 0.0% |
| Profit (loss) carried forward | 14 | €221,155 | €360,910 | +€139,755 | +63.2% |
| Amounts payable | 17/49 | €210,610 | €200,999 | -€9,611 | -4.6% |
| Amounts payable within one year | 42/48 | €210,610 | €200,999 | -€9,611 | -4.6% |
| Trade debts | 44 | €139,611 | €96,438 | -€43,172 | -30.9% |
| Suppliers | 440/4 | €139,611 | €96,438 | -€43,172 | -30.9% |
| Taxes, remuneration and social security | 45 | €66,870 | €100,831 | +€33,961 | +50.8% |
| Taxes | 450/3 | €48,742 | €76,620 | +€27,878 | +57.2% |
| Remuneration and social security | 454/9 | €18,128 | €24,211 | +€6,083 | +33.6% |
| Other amounts payable | 47/48 | €4,129 | €3,730 | -€400 | -9.7% |
| Remuneration, social security and pensions | 62 | €107,796 | €143,138 | +€35,342 | +32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,438 | €7,879 | -€559 | -6.6% |
| Other operating charges | 640/8 | €1,444 | €10,017 | +€8,573 | +593.7% |
| Non-recurring operating charges | 66A | €3,051 | - | -€3,051 | |
| Gross operating margin | 9900 | €130,719 | €365,548 | +€234,829 | +179.6% |
| Operating profit (loss) | 9901 | €9,990 | €204,514 | +€194,524 | +1947.2% |
| Financial income | 75/76B | €213 | €122 | -€91 | -42.6% |
| Recurring financial income | 75 | €213 | €122 | -€91 | -42.6% |
| Financial charges | 65/66B | €1,565 | €1,687 | +€122 | +7.8% |
| Recurring financial charges | 65 | €1,565 | €1,687 | +€122 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €8,638 | €202,950 | +€194,311 | +2249.4% |
| Income taxes | 67/77 | €7,655 | €63,195 | +€55,540 | +725.5% |
| Profit (loss) for the period | 9904 | €983 | €139,755 | +€138,772 | +14114.3% |
| Profit (loss) for the period to be appropriated | 9905 | €983 | €139,755 | +€138,772 | +14114.3% |
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 10 October 2026 via checked.be.