SMART TO YOU: what changed
SMART TO YOU
Largest movements
- Tangible fixed assets -€1.5m
down €1.5m (-60.7%), from €2.5m to €973,829
of which Land and buildings: -€1.5m
- Cash +€542,077
up €542,077 (+4,743%), from €11,430 to €553,507
mainly Investment in fixed assets (net) (+€1.4m) and Net result for the year (+€316,691)
- Receivables after one year +€35,000
up €35,000 (+7.3%), from €477,949 to €512,949
- Debts after one year -€1.2m
down €1.2m (-64.7%), from €1.9m to €660,880
of which Financial debts: -€769,535
- Profit (loss) carried forward +€439,116
up €439,116 (+459%), from €95,579 to €534,694
- Tax, wage and social debts +€156,857
up €156,857 (+224,498%), from €70 to €156,927
- Short-term financial debts -€125,000
no longer reported in 2025 (was €125,000)
- Reserves -€122,424
down €122,424 (-34.7%), from €352,909 to €230,485
of which Tax-exempt reserves: -€122,424
- Gross operating margin +€417,613
up €417,613 (+226%), from €185,085 to €602,698
- Taxes +€156,877
up €156,877 (+224,527%), from €70 to €156,947
- Depreciation -€72,859
down €72,859 (-54.1%), from €134,607 to €61,748
- Other operating charges +€40,836
up €40,836 (+149%), from €27,383 to €68,218
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,967,345 | €2,040,537 | -€926,808 | -31.2% |
| Fixed assets | 21/28 | €2,477,624 | €973,829 | -€1.5m | -60.7% |
| Tangible fixed assets | 22/27 | €2,477,624 | €973,829 | -€1.5m | -60.7% |
| Land and buildings | 22 | €2,438,904 | €973,829 | -€1.5m | -60.1% |
| Plant, machinery and equipment | 23 | €38,720 | - | -€38,720 | |
| Current assets | 29/58 | €489,721 | €1,066,708 | +€576,987 | +118% |
| Amounts receivable after more than one year | 29 | €477,949 | €512,949 | +€35,000 | +7.3% |
| Trade receivables | 290 | €477,949 | €512,949 | +€35,000 | +7.3% |
| Cash at bank and in hand | 54/58 | €11,430 | €553,507 | +€542,077 | +4,743% |
| Deferred charges and accrued income | 490/1 | €342 | €253 | -€89 | -26.1% |
| Total equity and liabilities | 10/49 | €2,967,345 | €2,040,537 | -€926,808 | -31.2% |
| Equity | 10/15 | €467,080 | €783,771 | +€316,691 | +67.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €352,909 | €230,485 | -€122,424 | -34.7% |
| Tax-exempt reserves | 132 | €351,050 | €228,626 | -€122,424 | -34.9% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,579 | €534,694 | +€439,116 | +459% |
| Provisions and deferred taxes | 16 | €117,017 | €76,209 | -€40,808 | -34.9% |
| Deferred taxes | 168 | €117,017 | €76,209 | -€40,808 | -34.9% |
| Amounts payable | 17/49 | €2,383,248 | €1,180,557 | -€1.2m | -50.5% |
| Amounts payable after more than one year | 17 | €1,871,415 | €660,880 | -€1.2m | -64.7% |
| Financial debts | 170/4 | €1,430,415 | €660,880 | -€769,535 | -53.8% |
| Other amounts payable | 178/9 | €441,000 | - | -€441,000 | |
| Amounts payable within one year | 42/48 | €504,247 | €519,677 | +€15,430 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €140,921 | €50,990 | -€89,931 | -63.8% |
| Financial debts | 43 | €125,000 | - | -€125,000 | |
| Credit institutions | 430/8 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €3,904 | €27,284 | +€23,380 | +599% |
| Suppliers | 440/4 | €3,904 | €27,284 | +€23,380 | +599% |
| Taxes, remuneration and social security | 45 | €70 | €156,927 | +€156,857 | +224,498% |
| Taxes | 450/3 | €70 | €156,927 | +€156,857 | +224,498% |
| Other amounts payable | 47/48 | €234,352 | €284,476 | +€50,124 | +21.4% |
| Accrued charges and deferred income | 492/3 | €7,586 | - | -€7,586 | |
| Non-recurring operating income | 76A | - | €507,952 | +€507,952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,607 | €61,748 | -€72,859 | -54.1% |
| Other operating charges | 640/8 | €27,383 | €68,218 | +€40,836 | +149% |
| Gross operating margin | 9900 | €185,085 | €602,698 | +€417,613 | +226% |
| Operating profit (loss) | 9901 | €23,095 | €472,732 | +€449,637 | +1,947% |
| Financial income | 75/76B | - | €172 | +€172 | |
| Recurring financial income | 75 | - | €172 | +€172 | |
| Financial charges | 65/66B | €40,675 | €40,074 | -€602 | -1.5% |
| Recurring financial charges | 65 | €40,675 | €40,074 | -€602 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,580 | €432,830 | +€450,411 | |
| Transfer from deferred taxes | 780 | €9,796 | €40,808 | +€31,012 | +317% |
| Income taxes | 67/77 | €70 | €156,947 | +€156,877 | +224,527% |
| Profit (loss) for the period | 9904 | -€7,854 | €316,691 | +€324,545 | |
| Transfer from tax-exempt reserves | 789 | €29,389 | €122,424 | +€93,035 | +317% |
| Profit (loss) for the period to be appropriated | 9905 | €21,536 | €439,116 | +€417,580 | +1,939% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.