SMARTax: 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.
SMARTax
Largest movements
- Cash +€20,679
up €20,679 (+19.8%), from €104,283 to €124,961
mainly Net result for the year (+€85,737) and Debts after one year (+€66,838)
- Receivables within one year -€20,572
down €20,572 (-38.2%), from €53,807 to €33,234
of which Other amounts receivable: -€11,526
- Receivables after one year -€9,175
down €9,175 (-10.8%), from €84,590 to €75,415
- Tangible fixed assets -€5,037
down €5,037 (-11.0%), from €45,969 to €40,932
of which Furniture and vehicles: -€2,897
- Debts after one year +€66,838
up €66,838 (+405.8%), from €16,471 to €83,309
of which Other amounts payable: +€75,276
- Reserves -€64,263
down €64,263 (-30.6%), from €210,291 to €146,029
- Tax, wage and social debts -€18,242
down €18,242 (-35.0%), from €52,159 to €33,917
- Accrued charges and deferred income +€2,950
up €2,950, from €0 to €2,950
- Gross operating margin +€10,011
up €10,011 (+8.7%), from €115,149 to €125,160
- Taxes +€2,386
up €2,386 (+10.2%), from €23,337 to €25,723
- Financial charges +€2,360
up €2,360 (+186.6%), from €1,265 to €3,625
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 | €289,018 | €277,204 | -€11,814 | -4.1% |
| Fixed assets | 21/28 | €45,969 | €40,932 | -€5,037 | -11.0% |
| Tangible fixed assets | 22/27 | €45,969 | €40,932 | -€5,037 | -11.0% |
| Plant, machinery and equipment | 23 | €12,108 | €9,969 | -€2,140 | -17.7% |
| Furniture and vehicles | 24 | €33,861 | €30,964 | -€2,897 | -8.6% |
| Current assets | 29/58 | €243,049 | €236,272 | -€6,777 | -2.8% |
| Amounts receivable after more than one year | 29 | €84,590 | €75,415 | -€9,175 | -10.8% |
| Other amounts receivable | 291 | €84,590 | €75,415 | -€9,175 | -10.8% |
| Amounts receivable within one year | 40/41 | €53,807 | €33,234 | -€20,572 | -38.2% |
| Trade receivables | 40 | €33,106 | €24,059 | -€9,047 | -27.3% |
| Other amounts receivable | 41 | €20,701 | €9,175 | -€11,526 | -55.7% |
| Cash at bank and in hand | 54/58 | €104,283 | €124,961 | +€20,679 | +19.8% |
| Deferred charges and accrued income | 490/1 | €369 | €2,661 | +€2,292 | +621.8% |
| Total equity and liabilities | 10/49 | €289,018 | €277,204 | -€11,814 | -4.1% |
| Equity | 10/15 | €211,291 | €147,029 | -€64,263 | -30.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €210,291 | €146,029 | -€64,263 | -30.6% |
| Distributable reserves | 133 | €210,291 | €146,029 | -€64,263 | -30.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €77,726 | €130,175 | +€52,449 | +67.5% |
| Amounts payable after more than one year | 17 | €16,471 | €83,309 | +€66,838 | +405.8% |
| Financial debts | 170/4 | €16,471 | €8,033 | -€8,438 | -51.2% |
| Other amounts payable | 178/9 | €0 | €75,276 | +€75,276 | |
| Amounts payable within one year | 42/48 | €61,255 | €43,916 | -€17,339 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €8,112 | €8,438 | +€326 | +4.0% |
| Trade debts | 44 | €984 | €1,561 | +€577 | +58.6% |
| Suppliers | 440/4 | €984 | €1,561 | +€577 | +58.6% |
| Taxes, remuneration and social security | 45 | €52,159 | €33,917 | -€18,242 | -35.0% |
| Taxes | 450/3 | €52,159 | €33,917 | -€18,242 | -35.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €2,950 | +€2,950 | |
| Non-recurring operating income | 76A | €495 | €0 | -€495 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,180 | €11,167 | +€988 | +9.7% |
| Other operating charges | 640/8 | €1,639 | €1,981 | +€342 | +20.8% |
| Gross operating margin | 9900 | €115,149 | €125,160 | +€10,011 | +8.7% |
| Operating profit (loss) | 9901 | €103,330 | €112,012 | +€8,682 | +8.4% |
| Financial income | 75/76B | €3,398 | €3,073 | -€326 | -9.6% |
| Recurring financial income | 75 | €3,398 | €3,073 | -€326 | -9.6% |
| Financial charges | 65/66B | €1,265 | €3,625 | +€2,360 | +186.6% |
| Recurring financial charges | 65 | €1,265 | €3,625 | +€2,360 | +186.6% |
| Profit (loss) for the period before taxes | 9903 | €105,464 | €111,460 | +€5,997 | +5.7% |
| Income taxes | 67/77 | €23,337 | €25,723 | +€2,386 | +10.2% |
| Profit (loss) for the period | 9904 | €82,126 | €85,737 | +€3,611 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €82,126 | €85,737 | +€3,611 | +4.4% |
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 11 October 2026 via checked.be.