SMARTECH-DBF: 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.
SMARTECH-DBF
Largest movements
- Financial fixed assets +€75,000
new in 2025: €75,000
- Cash -€18,894
down €18,894 (-35.4%), from €53,358 to €34,463
mainly Investment in fixed assets (net) (-€75,000) and Contributions, distributions and other (-€32,029)
- Tangible fixed assets -€17,139
down €17,139 (-6.1%), from €279,720 to €262,582
of which Furniture and vehicles: -€9,806
- Deferred charges and accrued income -€12,592
down €12,592 (-85.0%), from €14,814 to €2,223
- Reserves +€46,304
up €46,304 (+13.5%), from €343,390 to €389,693
- Tax, wage and social debts -€12,390
down €12,390 (-57.6%), from €21,517 to €9,128
- Other debts -€9,076
down €9,076 (-22.1%), from €41,106 to €32,029
- Gross operating margin -€4,852
down €4,852 (-3.6%), from €133,705 to €128,853
- Depreciation -€4,197
down €4,197 (-19.7%), from €21,336 to €17,139
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 | €421,223 | €447,711 | +€26,488 | +6.3% |
| Fixed assets | 21/28 | €279,720 | €337,582 | +€57,861 | +20.7% |
| Tangible fixed assets | 22/27 | €279,720 | €262,582 | -€17,139 | -6.1% |
| Land and buildings | 22 | €252,492 | €245,588 | -€6,904 | -2.7% |
| Plant, machinery and equipment | 23 | €1,079 | €651 | -€428 | -39.7% |
| Furniture and vehicles | 24 | €26,149 | €16,343 | -€9,806 | -37.5% |
| Financial fixed assets | 28 | - | €75,000 | +€75,000 | |
| Current assets | 29/58 | €141,502 | €110,129 | -€31,373 | -22.2% |
| Amounts receivable within one year | 40/41 | €73,330 | €73,443 | +€113 | +0.2% |
| Trade receivables | 40 | €73,330 | €60,524 | -€12,806 | -17.5% |
| Other amounts receivable | 41 | - | €12,919 | +€12,919 | |
| Cash at bank and in hand | 54/58 | €53,358 | €34,463 | -€18,894 | -35.4% |
| Deferred charges and accrued income | 490/1 | €14,814 | €2,223 | -€12,592 | -85.0% |
| Total equity and liabilities | 10/49 | €421,223 | €447,711 | +€26,488 | +6.3% |
| Equity | 10/15 | €355,790 | €402,093 | +€46,304 | +13.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €343,390 | €389,693 | +€46,304 | +13.5% |
| Distributable reserves | 133 | €343,390 | €389,693 | +€46,304 | +13.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €65,433 | €45,618 | -€19,816 | -30.3% |
| Amounts payable after more than one year | 17 | €2,500 | €2,500 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €62,933 | €43,118 | -€19,816 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €310 | €1,960 | +€1,650 | +532.0% |
| Suppliers | 440/4 | €310 | €1,960 | +€1,650 | +532.0% |
| Taxes, remuneration and social security | 45 | €21,517 | €9,128 | -€12,390 | -57.6% |
| Taxes | 450/3 | €21,517 | €9,128 | -€12,390 | -57.6% |
| Other amounts payable | 47/48 | €41,106 | €32,029 | -€9,076 | -22.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,336 | €17,139 | -€4,197 | -19.7% |
| Other operating charges | 640/8 | €2,617 | €1,864 | -€753 | -28.8% |
| Gross operating margin | 9900 | €133,705 | €128,853 | -€4,852 | -3.6% |
| Operating profit (loss) | 9901 | €109,753 | €109,851 | +€99 | +0.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €634 | €308 | -€326 | -51.5% |
| Recurring financial charges | 65 | €634 | €308 | -€326 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €109,119 | €109,544 | +€425 | +0.4% |
| Income taxes | 67/77 | €31,162 | €31,211 | +€49 | +0.2% |
| Profit (loss) for the period | 9904 | €77,957 | €78,333 | +€376 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €77,957 | €78,333 | +€376 | +0.5% |
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 9 October 2026 via checked.be.