SMART TEAM: 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 TEAM
Largest movements
- Receivables within one year +€95,908
up €95,908 (+36.0%), from €266,621 to €362,529
of which Trade receivables: +€75,037
- Deferred charges and accrued income -€14,610
down €14,610 (-79.1%), from €18,463 to €3,853
- Tangible fixed assets -€7,813
down €7,813 (-23.4%), from €33,394 to €25,581
- Other debts +€65,000
up €65,000 (+5,869%), from €1,108 to €66,108
- Tax, wage and social debts +€11,173
up €11,173 (+5.8%), from €191,752 to €202,925
of which Taxes: +€15,304
- Gross operating margin +€111,572
up €111,572 (+10.5%), from €1.1m to €1.2m
- Other operating charges +€29,101
up €29,101 (+485%), from €6,001 to €35,102
- Taxes +€27,911
up €27,911 (+157%), from €17,813 to €45,724
- Staff costs +€15,285
up €15,285 (+1.5%), from €1.0m to €1.0m
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.
Derived cash bridge
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 | €602,767 | €672,387 | +€69,621 | +11.6% |
| Fixed assets | 21/28 | €38,835 | €31,021 | -€7,813 | -20.1% |
| Tangible fixed assets | 22/27 | €33,394 | €25,581 | -€7,813 | -23.4% |
| Furniture and vehicles | 24 | €33,394 | €25,581 | -€7,813 | -23.4% |
| Financial fixed assets | 28 | €5,440 | €5,440 | = | 0.0% |
| Current assets | 29/58 | €563,932 | €641,366 | +€77,434 | +13.7% |
| Amounts receivable within one year | 40/41 | €266,621 | €362,529 | +€95,908 | +36.0% |
| Trade receivables | 40 | €228,983 | €304,020 | +€75,037 | +32.8% |
| Other amounts receivable | 41 | €37,637 | €58,509 | +€20,871 | +55.5% |
| Cash at bank and in hand | 54/58 | €278,849 | €274,985 | -€3,864 | -1.4% |
| Deferred charges and accrued income | 490/1 | €18,463 | €3,853 | -€14,610 | -79.1% |
| Total equity and liabilities | 10/49 | €602,767 | €672,387 | +€69,621 | +11.6% |
| Equity | 10/15 | €158,541 | €156,735 | -€1,807 | -1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €91,860 | €89,860 | -€2,000 | -2.2% |
| 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 | €90,000 | €88,000 | -€2,000 | -2.2% |
| Profit (loss) carried forward | 14 | €60,481 | €60,675 | +€193 | +0.3% |
| Amounts payable | 17/49 | €444,226 | €515,653 | +€71,427 | +16.1% |
| Amounts payable within one year | 42/48 | €444,226 | €515,653 | +€71,427 | +16.1% |
| Trade debts | 44 | €251,366 | €246,620 | -€4,746 | -1.9% |
| Suppliers | 440/4 | €251,366 | €246,620 | -€4,746 | -1.9% |
| Taxes, remuneration and social security | 45 | €191,752 | €202,925 | +€11,173 | +5.8% |
| Taxes | 450/3 | €60,987 | €76,292 | +€15,304 | +25.1% |
| Remuneration and social security | 454/9 | €130,764 | €126,633 | -€4,131 | -3.2% |
| Other amounts payable | 47/48 | €1,108 | €66,108 | +€65,000 | +5,869% |
| Non-recurring operating income | 76A | - | €10,800 | +€10,800 | |
| Remuneration, social security and pensions | 62 | €1,006,014 | €1,021,299 | +€15,285 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,102 | €7,813 | +€3,712 | +90.5% |
| Other operating charges | 640/8 | €6,001 | €35,102 | +€29,101 | +485% |
| Non-recurring operating charges | 66A | €1,605 | €0 | -€1,605 | -100% |
| Gross operating margin | 9900 | €1,062,489 | €1,174,061 | +€111,572 | +10.5% |
| Operating profit (loss) | 9901 | €44,768 | €109,846 | +€65,079 | +145% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €386 | €929 | +€543 | +141% |
| Recurring financial charges | 65 | €386 | €929 | +€543 | +141% |
| Profit (loss) for the period before taxes | 9903 | €44,382 | €108,917 | +€64,535 | +145% |
| Income taxes | 67/77 | €17,813 | €45,724 | +€27,911 | +157% |
| Profit (loss) for the period | 9904 | €26,569 | €63,193 | +€36,624 | +138% |
| Profit (loss) for the period to be appropriated | 9905 | €26,569 | €63,193 | +€36,624 | +138% |
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 16 October 2026 via checked.be.