SMARTFLASH: 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.
SMARTFLASH
Largest movements
- Cash -€35,748
down €35,748 (-29.9%), from €119,489 to €83,741
mainly Contributions, distributions and other (-€66,015) and Debts after one year (-€24,055)
- Intangible fixed assets -€15,587
down €15,587 (-55.1%), from €28,292 to €12,705
- Receivables within one year +€7,395
up €7,395 (+370.0%), from €1,998 to €9,393
of which Trade receivables: +€7,381
- Tangible fixed assets +€6,483
up €6,483 (+116.4%), from €5,569 to €12,052
of which Other tangible fixed assets: +€6,338
- Reserves -€63,068
down €63,068 (-70.5%), from €89,418 to €26,350
- Other debts +€56,228
up €56,228 (+394.3%), from €14,261 to €70,489
- Debts after one year -€24,055
down €24,055 (-69.7%), from €34,498 to €10,443
- Trade debts -€3,207
down €3,207 (-48.7%), from €6,590 to €3,384
- Tax, wage and social debts -€1,893
down €1,893 (-17.5%), from €10,802 to €8,910
- Gross operating margin -€11,294
down €11,294 (-26.8%), from €42,221 to €30,927
- Taxes -€2,159
down €2,159 (-46.1%), from €4,688 to €2,529
- Depreciation +€1,669
up €1,669 (+9.7%), from €17,121 to €18,790
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 | €183,688 | €146,230 | -€37,458 | -20.4% |
| Fixed assets | 21/28 | €34,301 | €25,196 | -€9,104 | -26.5% |
| Intangible fixed assets | 21 | €28,292 | €12,705 | -€15,587 | -55.1% |
| Tangible fixed assets | 22/27 | €5,569 | €12,052 | +€6,483 | +116.4% |
| Furniture and vehicles | 24 | €1,271 | €1,416 | +€145 | +11.4% |
| Other tangible fixed assets | 26 | €4,298 | €10,636 | +€6,338 | +147.5% |
| Financial fixed assets | 28 | €440 | €440 | = | 0.0% |
| Current assets | 29/58 | €149,387 | €121,034 | -€28,353 | -19.0% |
| Amounts receivable within one year | 40/41 | €1,998 | €9,393 | +€7,395 | +370.0% |
| Trade receivables | 40 | €1,783 | €9,164 | +€7,381 | +413.9% |
| Other amounts receivable | 41 | €215 | €229 | +€14 | +6.3% |
| Current investments | 50/53 | €27,900 | €27,900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €119,489 | €83,741 | -€35,748 | -29.9% |
| Total equity and liabilities | 10/49 | €183,688 | €146,230 | -€37,458 | -20.4% |
| Equity | 10/15 | €92,018 | €28,950 | -€63,068 | -68.5% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €89,418 | €26,350 | -€63,068 | -70.5% |
| Distributable reserves | 133 | €89,418 | €26,350 | -€63,068 | -70.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €91,670 | €117,280 | +€25,610 | +27.9% |
| Amounts payable after more than one year | 17 | €34,498 | €10,443 | -€24,055 | -69.7% |
| Financial debts | 170/4 | €34,498 | €10,443 | -€24,055 | -69.7% |
| Amounts payable within one year | 42/48 | €57,172 | €106,838 | +€49,666 | +86.9% |
| Current portion of amounts payable after more than one year | 42 | €25,519 | €24,055 | -€1,464 | -5.7% |
| Trade debts | 44 | €6,590 | €3,384 | -€3,207 | -48.7% |
| Suppliers | 440/4 | €6,590 | €3,384 | -€3,207 | -48.7% |
| Taxes, remuneration and social security | 45 | €10,802 | €8,910 | -€1,893 | -17.5% |
| Taxes | 450/3 | €10,802 | €8,910 | -€1,893 | -17.5% |
| Other amounts payable | 47/48 | €14,261 | €70,489 | +€56,228 | +394.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,121 | €18,790 | +€1,669 | +9.7% |
| Other operating charges | 640/8 | €1,118 | €911 | -€206 | -18.5% |
| Gross operating margin | 9900 | €42,221 | €30,927 | -€11,294 | -26.8% |
| Operating profit (loss) | 9901 | €23,982 | €11,225 | -€12,757 | -53.2% |
| Financial income | 75/76B | €157 | €510 | +€353 | +225.2% |
| Recurring financial income | 75 | €157 | €510 | +€353 | +225.2% |
| Financial charges | 65/66B | €6,116 | €6,259 | +€143 | +2.3% |
| Recurring financial charges | 65 | €6,116 | €6,259 | +€143 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €18,022 | €5,476 | -€12,547 | -69.6% |
| Income taxes | 67/77 | €4,688 | €2,529 | -€2,159 | -46.1% |
| Profit (loss) for the period | 9904 | €13,334 | €2,947 | -€10,388 | -77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,334 | €2,947 | -€10,388 | -77.9% |
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 29 September 2026 via checked.be.