SMARTFIN: 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.
SMARTFIN
Largest movements
- Receivables within one year +€40,553
up €40,553 (+255.6%), from €15,864 to €56,417
of which Other amounts receivable: +€40,947
- Deferred charges and accrued income +€15,210
new in 2025: €15,210
- Cash -€13,267
down €13,267 (-73.7%), from €18,004 to €4,737
mainly Receivables within one year (-€40,553) and Debts after one year (-€20,464)
- Tangible fixed assets -€12,499
down €12,499 (-5.5%), from €226,801 to €214,303
of which Land and buildings: -€11,244
- Profit (loss) carried forward +€21,576
up €21,576 (+83.0%), from €26,004 to €47,580
- Debts after one year -€20,464
down €20,464 (-14.4%), from €141,854 to €121,390
- Short-term financial debts +€20,417
new in 2025: €20,417
- Tax, wage and social debts +€10,641
up €10,641 (+21.5%), from €49,568 to €60,209
- Gross operating margin +€5,923
up €5,923 (+13.1%), from €45,278 to €51,202
- Taxes +€4,527
up €4,527 (+74.4%), from €6,086 to €10,613
- Depreciation -€2,200
down €2,200 (-15.0%), from €14,699 to €12,499
- Financial income +€883
up €883 (+27521.5%), from €3 to €887
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 | €260,669 | €290,666 | +€29,997 | +11.5% |
| Fixed assets | 21/28 | €226,801 | €214,303 | -€12,499 | -5.5% |
| Tangible fixed assets | 22/27 | €226,801 | €214,303 | -€12,499 | -5.5% |
| Land and buildings | 22 | €220,989 | €209,746 | -€11,244 | -5.1% |
| Furniture and vehicles | 24 | €5,812 | €4,557 | -€1,255 | -21.6% |
| Current assets | 29/58 | €33,868 | €76,364 | +€42,496 | +125.5% |
| Amounts receivable within one year | 40/41 | €15,864 | €56,417 | +€40,553 | +255.6% |
| Trade receivables | 40 | €394 | €0 | -€394 | -100.0% |
| Other amounts receivable | 41 | €15,469 | €56,417 | +€40,947 | +264.7% |
| Cash at bank and in hand | 54/58 | €18,004 | €4,737 | -€13,267 | -73.7% |
| Deferred charges and accrued income | 490/1 | - | €15,210 | +€15,210 | |
| Total equity and liabilities | 10/49 | €260,669 | €290,666 | +€29,997 | +11.5% |
| Equity | 10/15 | €46,409 | €67,985 | +€21,576 | +46.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,004 | €47,580 | +€21,576 | +83.0% |
| Amounts payable | 17/49 | €214,260 | €222,681 | +€8,421 | +3.9% |
| Amounts payable after more than one year | 17 | €141,854 | €121,390 | -€20,464 | -14.4% |
| Financial debts | 170/4 | €141,854 | €121,390 | -€20,464 | -14.4% |
| Amounts payable within one year | 42/48 | €72,406 | €101,291 | +€28,885 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €20,222 | €20,464 | +€242 | +1.2% |
| Financial debts | 43 | - | €20,417 | +€20,417 | |
| Other loans | 439 | - | €20,417 | +€20,417 | |
| Trade debts | 44 | €2,616 | €202 | -€2,414 | -92.3% |
| Suppliers | 440/4 | €2,616 | €202 | -€2,414 | -92.3% |
| Taxes, remuneration and social security | 45 | €49,568 | €60,209 | +€10,641 | +21.5% |
| Taxes | 450/3 | €49,568 | €60,209 | +€10,641 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,699 | €12,499 | -€2,200 | -15.0% |
| Other operating charges | 640/8 | €2,592 | €2,956 | +€364 | +14.0% |
| Gross operating margin | 9900 | €45,278 | €51,202 | +€5,923 | +13.1% |
| Operating profit (loss) | 9901 | €27,987 | €35,747 | +€7,760 | +27.7% |
| Financial income | 75/76B | €3 | €887 | +€883 | +27521.5% |
| Recurring financial income | 75 | €3 | €887 | +€883 | +27521.5% |
| Financial charges | 65/66B | €4,899 | €4,445 | -€453 | -9.3% |
| Recurring financial charges | 65 | €4,899 | €4,445 | -€453 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €23,092 | €32,189 | +€9,096 | +39.4% |
| Income taxes | 67/77 | €6,086 | €10,613 | +€4,527 | +74.4% |
| Profit (loss) for the period | 9904 | €17,007 | €21,576 | +€4,569 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,007 | €21,576 | +€4,569 | +26.9% |
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.