SMART VISION: 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 VISION
Largest movements
- Cash +€41,982
up €41,982 (+139.4%), from €30,109 to €72,090
mainly Net result for the year (+€53,346) and Other debts (+€45,376)
- Current investments +€22,937
new in 2025: €22,937
- Receivables within one year -€13,040
down €13,040 (-22.4%), from €58,286 to €45,246
of which Trade receivables: -€12,879
- Tangible fixed assets -€6,882
down €6,882 (-36.6%), from €18,815 to €11,933
of which Furniture and vehicles: -€4,214
- Other debts +€45,376
up €45,376 (+259.5%), from €17,483 to €62,859
- Profit (loss) carried forward +€16,156
up €16,156, from -€16,145 to €11
- Reserves -€14,310
down €14,310 (-20.6%), from €69,560 to €55,250
- Trade debts -€8,696
down €8,696 (-47.9%), from €18,154 to €9,457
- Tax, wage and social debts +€7,471
up €7,471 (+30.5%), from €24,475 to €31,946
of which Taxes: +€11,641
- Gross operating margin +€49,508
up €49,508 (+182.4%), from €27,139 to €76,647
- Taxes +€14,581
up €14,581 (+10506.4%), from €139 to €14,720
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 | €120,585 | €167,056 | +€46,471 | +38.5% |
| Fixed assets | 21/28 | €28,808 | €21,926 | -€6,882 | -23.9% |
| Tangible fixed assets | 22/27 | €18,815 | €11,933 | -€6,882 | -36.6% |
| Plant, machinery and equipment | 23 | €344 | €309 | -€35 | -10.3% |
| Furniture and vehicles | 24 | €11,336 | €7,122 | -€4,214 | -37.2% |
| Other tangible fixed assets | 26 | €7,134 | €4,502 | -€2,633 | -36.9% |
| Financial fixed assets | 28 | €9,993 | €9,993 | = | 0.0% |
| Current assets | 29/58 | €91,776 | €145,130 | +€53,353 | +58.1% |
| Amounts receivable within one year | 40/41 | €58,286 | €45,246 | -€13,040 | -22.4% |
| Trade receivables | 40 | €58,125 | €45,246 | -€12,879 | -22.2% |
| Other amounts receivable | 41 | €161 | - | -€161 | |
| Current investments | 50/53 | - | €22,937 | +€22,937 | |
| Cash at bank and in hand | 54/58 | €30,109 | €72,090 | +€41,982 | +139.4% |
| Deferred charges and accrued income | 490/1 | €3,381 | €4,856 | +€1,475 | +43.6% |
| Total equity and liabilities | 10/49 | €120,585 | €167,056 | +€46,471 | +38.5% |
| Equity | 10/15 | €59,615 | €61,461 | +€1,846 | +3.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €69,560 | €55,250 | -€14,310 | -20.6% |
| Distributable reserves | 133 | €69,560 | €55,250 | -€14,310 | -20.6% |
| Profit (loss) carried forward | 14 | -€16,145 | €11 | +€16,156 | |
| Amounts payable | 17/49 | €60,970 | €105,595 | +€44,626 | +73.2% |
| Amounts payable within one year | 42/48 | €60,112 | €104,262 | +€44,150 | +73.4% |
| Trade debts | 44 | €18,154 | €9,457 | -€8,696 | -47.9% |
| Suppliers | 440/4 | €18,154 | €9,457 | -€8,696 | -47.9% |
| Taxes, remuneration and social security | 45 | €24,475 | €31,946 | +€7,471 | +30.5% |
| Taxes | 450/3 | €20,305 | €31,946 | +€11,641 | +57.3% |
| Remuneration and social security | 454/9 | €4,170 | - | -€4,170 | |
| Other amounts payable | 47/48 | €17,483 | €62,859 | +€45,376 | +259.5% |
| Accrued charges and deferred income | 492/3 | €858 | €1,333 | +€476 | +55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,910 | €7,856 | -€53 | -0.7% |
| Other operating charges | 640/8 | €863 | €466 | -€397 | -46.0% |
| Gross operating margin | 9900 | €27,139 | €76,647 | +€49,508 | +182.4% |
| Operating profit (loss) | 9901 | €18,367 | €68,325 | +€49,958 | +272.0% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €137 | €267 | +€130 | +95.0% |
| Recurring financial charges | 65 | €137 | €267 | +€130 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | €18,229 | €68,065 | +€49,836 | +273.4% |
| Income taxes | 67/77 | €139 | €14,720 | +€14,581 | +10506.4% |
| Profit (loss) for the period | 9904 | €18,091 | €53,346 | +€35,255 | +194.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,091 | €53,346 | +€35,255 | +194.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.