Smart World: 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 World
Largest movements
- Cash -€34,337
down €34,337 (-95.5%), from €35,937 to €1,600
mainly Net result for the year (-€30,016) and Receivables within one year (-€11,174)
- Receivables within one year +€11,174
up €11,174 (+2,998%), from €373 to €11,546
of which Trade receivables: +€11,106
- Tangible fixed assets +€6,104
up €6,104 (+37.1%), from €16,435 to €22,539
of which Other tangible fixed assets: +€5,622
- Profit (loss) carried forward -€30,016
down €30,016 (-36.9%), from -€81,271 to -€111,288
- Other debts +€12,525
up €12,525 (+1,360%), from €921 to €13,446
- Trade debts +€8,305
up €8,305 (+66,333%), from €13 to €8,317
- Tax, wage and social debts -€7,947
down €7,947 (-95.5%), from €8,318 to €371
- Gross operating margin -€34,260
down €34,260, from €9,883 to -€24,377
- Depreciation -€1,101
down €1,101 (-20.2%), from €5,456 to €4,356
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 | €53,546 | €36,413 | -€17,133 | -32.0% |
| Fixed assets | 21/28 | €16,435 | €22,539 | +€6,104 | +37.1% |
| Tangible fixed assets | 22/27 | €16,435 | €22,539 | +€6,104 | +37.1% |
| Plant, machinery and equipment | 23 | €147 | €13 | -€134 | -90.9% |
| Furniture and vehicles | 24 | €546 | €1,162 | +€616 | +113% |
| Other tangible fixed assets | 26 | €15,742 | €21,364 | +€5,622 | +35.7% |
| Current assets | 29/58 | €37,112 | €13,874 | -€23,238 | -62.6% |
| Amounts receivable within one year | 40/41 | €373 | €11,546 | +€11,174 | +2,998% |
| Trade receivables | 40 | €373 | €11,478 | +€11,106 | +2,979% |
| Other amounts receivable | 41 | - | €68 | +€68 | |
| Cash at bank and in hand | 54/58 | €35,937 | €1,600 | -€34,337 | -95.5% |
| Deferred charges and accrued income | 490/1 | €802 | €728 | -€74 | -9.2% |
| Total equity and liabilities | 10/49 | €53,546 | €36,413 | -€17,133 | -32.0% |
| Equity | 10/15 | €5,512 | -€24,505 | -€30,016 | |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €66,952 | €66,952 | = | 0.0% |
| Distributable reserves | 133 | €66,952 | €66,952 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,271 | -€111,288 | -€30,016 | -36.9% |
| Amounts payable | 17/49 | €48,035 | €60,918 | +€12,883 | +26.8% |
| Amounts payable after more than one year | 17 | €38,783 | €38,783 | = | 0.0% |
| Financial debts | 170/4 | €38,783 | €38,783 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,252 | €22,135 | +€12,883 | +139% |
| Trade debts | 44 | €13 | €8,317 | +€8,305 | +66,333% |
| Suppliers | 440/4 | €13 | €8,317 | +€8,305 | +66,333% |
| Taxes, remuneration and social security | 45 | €8,318 | €371 | -€7,947 | -95.5% |
| Taxes | 450/3 | €8,318 | €371 | -€7,947 | -95.5% |
| Other amounts payable | 47/48 | €921 | €13,446 | +€12,525 | +1,360% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,456 | €4,356 | -€1,101 | -20.2% |
| Other operating charges | 640/8 | €578 | €582 | +€4 | +0.8% |
| Gross operating margin | 9900 | €9,883 | -€24,377 | -€34,260 | |
| Operating profit (loss) | 9901 | €3,849 | -€29,315 | -€33,164 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €622 | €570 | -€52 | -8.4% |
| Recurring financial charges | 65 | €622 | €570 | -€52 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €3,228 | -€29,884 | -€33,113 | |
| Income taxes | 67/77 | €140 | €132 | -€8 | -5.4% |
| Profit (loss) for the period | 9904 | €3,089 | -€30,016 | -€33,105 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,089 | -€30,016 | -€33,105 |
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 26 October 2026 via checked.be.