SMARTE: what changed
Two fiscal 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.
SMARTE
Largest movements
- Tangible fixed assets -€30,420
down €30,420 (-6.6%), from €459,421 to €429,001
- Cash +€5,913
up €5,913 (+76.8%), from €7,701 to €13,614
mainly Depreciation (+€30,420) and Other debts (+€6,034)
- Reserves -€31,780
down €31,780 (-7.0%), from €454,531 to €422,751
- Other debts +€6,034
up €6,034 (+175.1%), from €3,445 to €9,479
- Other operating income -€24,480
down €24,480 (-41.3%), from €59,285 to €34,805
- Services and other goods -€20,227
down €20,227 (-44.6%), from €45,381 to €25,155
- Depreciation -€15,210
down €15,210 (-33.3%), from €45,630 to €30,420
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 | €467,944 | €442,615 | -€25,329 | -5.4% |
| Fixed assets | 21/28 | €459,421 | €429,001 | -€30,420 | -6.6% |
| Tangible fixed assets | 22/27 | €459,421 | €429,001 | -€30,420 | -6.6% |
| Land and buildings | 22 | €459,421 | €429,001 | -€30,420 | -6.6% |
| Current assets | 29/58 | €8,523 | €13,614 | +€5,091 | +59.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €822 | €0 | -€822 | -100.0% |
| Other amounts receivable | 41 | €822 | €0 | -€822 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,701 | €13,614 | +€5,913 | +76.8% |
| Total equity and liabilities | 10/49 | €467,944 | €442,615 | -€25,329 | -5.4% |
| Equity | 10/15 | €464,402 | €432,623 | -€31,780 | -6.8% |
| Contributions | 10/11 | €9,871 | €9,871 | = | 0.0% |
| Reserves | 13 | €454,531 | €422,751 | -€31,780 | -7.0% |
| Distributable reserves | 133 | €454,531 | €422,751 | -€31,780 | -7.0% |
| Amounts payable | 17/49 | €3,542 | €9,992 | +€6,451 | +182.1% |
| Amounts payable within one year | 42/48 | €3,457 | €9,907 | +€6,451 | +186.6% |
| Trade debts | 44 | €12 | €428 | +€417 | +3618.1% |
| Suppliers | 440/4 | €12 | €428 | +€417 | +3618.1% |
| Other amounts payable | 47/48 | €3,445 | €9,479 | +€6,034 | +175.1% |
| Accrued charges and deferred income | 492/3 | €85 | €85 | = | 0.0% |
| Operating income | 70/76A | €59,285 | €34,805 | -€24,480 | -41.3% |
| Other operating income | 74 | €59,285 | €34,805 | -€24,480 | -41.3% |
| Operating charges | 60/66A | €99,808 | €66,300 | -€33,509 | -33.6% |
| Services and other goods | 61 | €45,381 | €25,155 | -€20,227 | -44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,630 | €30,420 | -€15,210 | -33.3% |
| Other operating charges | 640/8 | €8,797 | €10,725 | +€1,928 | +21.9% |
| Operating profit (loss) | 9901 | -€40,523 | -€31,495 | +€9,029 | +22.3% |
| Financial charges | 65/66B | €125 | €285 | +€160 | +128.0% |
| Recurring financial charges | 65 | €125 | €285 | +€160 | +128.0% |
| Debt charges | 650 | - | €105 | +€105 | |
| Other financial charges | 652/9 | €125 | €180 | +€55 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | -€40,648 | -€31,780 | +€8,869 | +21.8% |
| Profit (loss) for the period | 9904 | -€40,648 | -€31,780 | +€8,869 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,648 | -€31,780 | +€8,869 | +21.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.