SMARTCO: 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.
SMARTCO
Largest movements
- Cash +€49,234
up €49,234 (+49.4%), from €99,713 to €148,947
mainly Net result for the year (+€55,312) and Current investments (+€41,699)
- Current investments -€41,699
down €41,699 (-99.8%), from €41,799 to €100
- Tangible fixed assets -€9,237
down €9,237 (-42.7%), from €21,611 to €12,375
of which Furniture and vehicles: -€8,758
- Receivables within one year -€3,770
down €3,770 (-25.3%), from €14,884 to €11,114
of which Other amounts receivable: -€2,490
- Other debts -€55,533
down €55,533 (-81.1%), from €68,458 to €12,925
- Reserves +€55,312
up €55,312 (+69.2%), from €79,875 to €135,187
- Tax, wage and social debts -€5,682
down €5,682 (-49.5%), from €11,475 to €5,793
- Financial income -€7,881
down €7,881 (-94.9%), from €8,308 to €427
of which Financial income: -€8,291
- Gross operating margin -€6,932
down €6,932 (-7.3%), from €94,946 to €88,014
- Taxes +€4,207
up €4,207 (+23.9%), from €17,586 to €21,793
- Depreciation +€1,440
up €1,440 (+18.5%), from €7,797 to €9,237
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 | €179,771 | €173,548 | -€6,223 | -3.5% |
| Fixed assets | 21/28 | €21,611 | €12,375 | -€9,237 | -42.7% |
| Tangible fixed assets | 22/27 | €21,611 | €12,375 | -€9,237 | -42.7% |
| Plant, machinery and equipment | 23 | €1,679 | €1,200 | -€479 | -28.5% |
| Furniture and vehicles | 24 | €19,932 | €11,175 | -€8,758 | -43.9% |
| Current assets | 29/58 | €158,160 | €161,173 | +€3,013 | +1.9% |
| Amounts receivable within one year | 40/41 | €14,884 | €11,114 | -€3,770 | -25.3% |
| Trade receivables | 40 | €12,080 | €10,800 | -€1,280 | -10.6% |
| Other amounts receivable | 41 | €2,804 | €314 | -€2,490 | -88.8% |
| Current investments | 50/53 | €41,799 | €100 | -€41,699 | -99.8% |
| Cash at bank and in hand | 54/58 | €99,713 | €148,947 | +€49,234 | +49.4% |
| Deferred charges and accrued income | 490/1 | €1,764 | €1,012 | -€752 | -42.6% |
| Total equity and liabilities | 10/49 | €179,771 | €173,548 | -€6,223 | -3.5% |
| Equity | 10/15 | €98,475 | €153,787 | +€55,312 | +56.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €79,875 | €135,187 | +€55,312 | +69.2% |
| Distributable reserves | 133 | €79,875 | €135,187 | +€55,312 | +69.2% |
| Amounts payable | 17/49 | €81,296 | €19,761 | -€61,535 | -75.7% |
| Amounts payable within one year | 42/48 | €81,296 | €19,761 | -€61,535 | -75.7% |
| Trade debts | 44 | €1,363 | €1,043 | -€320 | -23.5% |
| Suppliers | 440/4 | €1,363 | €1,043 | -€320 | -23.5% |
| Taxes, remuneration and social security | 45 | €11,475 | €5,793 | -€5,682 | -49.5% |
| Taxes | 450/3 | €11,475 | €5,793 | -€5,682 | -49.5% |
| Other amounts payable | 47/48 | €68,458 | €12,925 | -€55,533 | -81.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,797 | €9,237 | +€1,440 | +18.5% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Non-recurring operating charges | 66A | €637 | €1,377 | +€740 | +116% |
| Gross operating margin | 9900 | €94,946 | €88,014 | -€6,932 | -7.3% |
| Operating profit (loss) | 9901 | €86,007 | €76,881 | -€9,126 | -10.6% |
| Financial income | 75/76B | €8,308 | €427 | -€7,881 | -94.9% |
| Recurring financial income | 75 | €8,308 | €17 | -€8,291 | -99.8% |
| Non-recurring financial income | 76B | - | €410 | +€410 | |
| Financial charges | 65/66B | €227 | €202 | -€24 | -10.8% |
| Recurring financial charges | 65 | €227 | €202 | -€24 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €94,088 | €77,105 | -€16,982 | -18.0% |
| Income taxes | 67/77 | €17,586 | €21,793 | +€4,207 | +23.9% |
| Profit (loss) for the period | 9904 | €76,502 | €55,312 | -€21,190 | -27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,502 | €55,312 | -€21,190 | -27.7% |
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 18 October 2026 via checked.be.