Smartconnect: 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.
Smartconnect
Largest movements
- Cash +€17,354
up €17,354 (+5.0%), from €344,078 to €361,431
mainly Net result for the year (+€4,937) and Receivables within one year (+€4,804)
- Receivables within one year -€4,804
down €4,804 (-7.9%), from €61,096 to €56,292
of which Trade receivables: -€5,436
- Reserves +€4,937
up €4,937 (+4.9%), from €99,904 to €104,841
of which Non-distributable reserves: +€3,600
- Gross operating margin -€74,032
down €74,032 (-88.5%), from €83,611 to €9,579
- Taxes -€18,994
down €18,994 (-91.9%), from €20,670 to €1,675
- Depreciation +€1,672
up €1,672 (+1,088%), from €154 to €1,826
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 | €411,350 | €423,625 | +€12,275 | +3.0% |
| Fixed assets | 21/28 | €5,849 | €4,023 | -€1,826 | -31.2% |
| Tangible fixed assets | 22/27 | €5,324 | €3,498 | -€1,826 | -34.3% |
| Plant, machinery and equipment | 23 | €5,324 | €3,498 | -€1,826 | -34.3% |
| Financial fixed assets | 28 | €525 | €525 | = | 0.0% |
| Current assets | 29/58 | €405,501 | €419,602 | +€14,101 | +3.5% |
| Amounts receivable within one year | 40/41 | €61,096 | €56,292 | -€4,804 | -7.9% |
| Trade receivables | 40 | €17,538 | €12,102 | -€5,436 | -31.0% |
| Other amounts receivable | 41 | €43,558 | €44,189 | +€632 | +1.5% |
| Cash at bank and in hand | 54/58 | €344,078 | €361,431 | +€17,354 | +5.0% |
| Deferred charges and accrued income | 490/1 | €328 | €1,879 | +€1,551 | +473% |
| Total equity and liabilities | 10/49 | €411,350 | €423,625 | +€12,275 | +3.0% |
| Equity | 10/15 | €198,904 | €203,841 | +€4,937 | +2.5% |
| Contributions | 10/11 | €99,000 | €99,000 | = | 0.0% |
| Capital | 10 | €99,000 | €99,000 | = | 0.0% |
| Issued capital | 100 | €99,000 | €99,000 | = | 0.0% |
| Reserves | 13 | €99,904 | €104,841 | +€4,937 | +4.9% |
| Non-distributable reserves | 130/1 | €6,300 | €9,900 | +€3,600 | +57.1% |
| Legal reserve | 130 | €6,300 | €9,900 | +€3,600 | +57.1% |
| Distributable reserves | 133 | €93,604 | €94,941 | +€1,337 | +1.4% |
| Amounts payable | 17/49 | €212,446 | €219,784 | +€7,338 | +3.5% |
| Amounts payable within one year | 42/48 | €212,446 | €219,784 | +€7,338 | +3.5% |
| Trade debts | 44 | €156,182 | €159,721 | +€3,538 | +2.3% |
| Suppliers | 440/4 | €156,182 | €159,721 | +€3,538 | +2.3% |
| Taxes, remuneration and social security | 45 | €4,870 | €6,122 | +€1,253 | +25.7% |
| Taxes | 450/3 | €4,870 | €6,122 | +€1,253 | +25.7% |
| Other amounts payable | 47/48 | €51,394 | €53,941 | +€2,547 | +5.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154 | €1,826 | +€1,672 | +1,088% |
| Other operating charges | 640/8 | €672 | €859 | +€187 | +27.9% |
| Gross operating margin | 9900 | €83,611 | €9,579 | -€74,032 | -88.5% |
| Operating profit (loss) | 9901 | €82,785 | €6,894 | -€75,891 | -91.7% |
| Financial income | 75/76B | €1 | €19 | +€19 | +3,760% |
| Recurring financial income | 75 | €1 | €19 | +€19 | +3,760% |
| Financial charges | 65/66B | €180 | €301 | +€121 | +67.6% |
| Recurring financial charges | 65 | €180 | €301 | +€121 | +67.6% |
| Profit (loss) for the period before taxes | 9903 | €82,606 | €6,612 | -€75,994 | -92.0% |
| Income taxes | 67/77 | €20,670 | €1,675 | -€18,994 | -91.9% |
| Profit (loss) for the period | 9904 | €61,936 | €4,937 | -€57,000 | -92.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,936 | €4,937 | -€57,000 | -92.0% |
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.