SMARTFLATS: 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.
What changed
SMARTFLATS
NACE 55.209, Other holiday and short-stay accommodation
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€7.9m
2023 · -€204,436-€7.7m
Equity
€260,472
2023 · €3.1m-€2.9m
Cash
€54,479
2023 · €650,049-€595,570
Balance sheet total
€12.9m
2023 · €7.2m+€5.7m
Largest movements
Assets
- Financial fixed assets +€5.2m
up €5.2m (+2903.4%), from €180,636 to €5.4m
of which Affiliated companies: +€3.0m
- Tangible fixed assets +€936,648
up €936,648 (+28.7%), from €3.3m to €4.2m
of which Other tangible fixed assets: +€1.1m
- Cash -€595,570
down €595,570 (-91.6%), from €650,049 to €54,479
mainly Net result for the year (-€7.9m) and Investment in fixed assets (net) (-€6.9m)
Equity and liabilities
- Profit (loss) carried forward -€7.9m
down €7.9m (-385.7%), from -€2.0m to -€9.9m
- Current portion of long-term debt +€5.2m
up €5.2m (+5055.4%), from €103,765 to €5.3m
- Contributions +€5.0m
up €5.0m (+96.8%), from €5.2m to €10.2m
of which Capital: +€5.0m
- Trade debts +€1.5m
up €1.5m (+48.0%), from €3.0m to €4.5m
of which Suppliers: +€1.5m
- Other debts +€1.1m
up €1.1m (+4410.1%), from €24,539 to €1.1m
Income statement
- Turnover -€3.9m
down €3.9m (-26.4%), from €14.9m to €11.0m
- Services and other goods +€1.6m
up €1.6m (+11.8%), from €13.4m to €14.9m
- Financial charges +€1.2m
up €1.2m (+612.4%), from €190,025 to €1.4m
of which Financial charges: +€1.1m
- Other operating charges +€586,382
up €586,382 (+139.4%), from €420,599 to €1.0m
- Write-downs +€448,258
up €448,258, from -€48,284 to €399,974
From the 2023 result to the 2024 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.
Result 2023
-€204,436
Turnover
-€3.9m
Other operating income
-€118,267
Goods and materials
+€22
Services and other goods
-€1.6m
Staff costs
-€210,795
Depreciation
-€176,622
Write-downs
-€448,258
Other operating charges
-€586,382
Other operating items
+€606,477
Financial income
+€9,210
Financial charges
-€1.2m
Taxes
-€59,929
Result 2024
-€7.9m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€4.8m
Investment
-€6.9m
Financing
+€11.2m
Cash 2023
€650,049
From operations (derived)
-€4.8m
Net result for the year
-€7.9m
Depreciation
+€687,195
Receivables within one year
+€28,804
Deferred charges and accrued income
-€39,912
Trade debts
+€1.5m
Tax, wage and social debts
-€235,431
Other debts
+€1.1m
Accrued charges and deferred income
+€66,985
Investment (derived)
-€6.9m
Investment in fixed assets (net)
-€6.9m
Financing
+€11.2m
Debts after one year
+€919,422
Current portion of long-term debt
+€5.2m
Contributions, distributions and other
+€5.0m
Cash 2024
€54,479
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,220,965 | €12,893,034 | +€5.7m | +78.6% |
| Formation expenses | 20 | €11,249 | €5,651 | -€5,598 | -49.8% |
| Fixed assets | 21/28 | €3,566,783 | €9,828,913 | +€6.3m | +175.6% |
| Intangible fixed assets | 21 | €124,568 | €205,441 | +€80,873 | +64.9% |
| Tangible fixed assets | 22/27 | €3,261,578 | €4,198,226 | +€936,648 | +28.7% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €152,396 | €116,655 | -€35,741 | -23.5% |
| Furniture and vehicles | 24 | €323,908 | €226,720 | -€97,188 | -30.0% |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | €2,785,275 | €3,854,851 | +€1.1m | +38.4% |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | €180,636 | €5,425,246 | +€5.2m | +2903.4% |
| Affiliated companies | 280/1 | €50,000 | €3,050,467 | +€3.0m | +6000.9% |
| Participating interests | 280 | €50,000 | €3,050,467 | +€3.0m | +6000.9% |
| Amounts receivable | 281 | - | €0 | = | |
| Companies linked by participating interests | 282/3 | - | €0 | = | |
| Participating interests | 282 | - | €0 | = | |
| Amounts receivable | 283 | - | €0 | = | |
| Other financial fixed assets | 284/8 | €130,636 | €2,374,779 | +€2.2m | +1717.9% |
| Shares | 284 | - | €0 | = | |
| Amounts receivable and cash guarantees | 285/8 | €130,636 | €2,374,779 | +€2.2m | +1717.9% |
| Current assets | 29/58 | €3,642,933 | €3,058,470 | -€584,463 | -16.0% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | - | €0 | = | |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Stocks | 30/36 | - | €0 | = | |
| Raw materials and consumables | 30/31 | - | €0 | = | |
| Work in progress | 32 | - | €0 | = | |
| Finished goods | 33 | - | €0 | = | |
| Goods purchased for resale | 34 | - | €0 | = | |
| Property held for sale | 35 | - | €0 | = | |
| Advance payments | 36 | - | €0 | = | |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,760,134 | €2,731,330 | -€28,804 | -1.0% |
| Trade receivables | 40 | €2,711,446 | €585,488 | -€2.1m | -78.4% |
| Other amounts receivable | 41 | €48,689 | €2,145,842 | +€2.1m | +4307.3% |
| Current investments | 50/53 | - | €0 | = | |
| Own shares | 50 | - | €0 | = | |
| Other investments | 51/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €650,049 | €54,479 | -€595,570 | -91.6% |
| Deferred charges and accrued income | 490/1 | €232,749 | €272,661 | +€39,912 | +17.1% |
| Total equity and liabilities | 10/49 | €7,220,965 | €12,893,034 | +€5.7m | +78.6% |
| Equity | 10/15 | €3,127,057 | €260,472 | -€2.9m | -91.7% |
| Contributions | 10/11 | €5,166,750 | €10,168,105 | +€5.0m | +96.8% |
| Capital | 10 | €5,166,750 | €10,168,105 | +€5.0m | +96.8% |
| Issued capital | 100 | €5,166,750 | €10,168,105 | +€5.0m | +96.8% |
| Uncalled capital | 101 | - | €0 | = | |
| Outside capital | 11 | - | €0 | = | |
| Share premium | 1100/10 | - | €0 | = | |
| Other | 1109/19 | - | €0 | = | |
| Revaluation surpluses | 12 | - | €0 | = | |
| Reserves | 13 | €299 | €299 | +€0 | +0.1% |
| Non-distributable reserves | 130/1 | €299 | €299 | +€0 | +0.1% |
| Legal reserve | 130 | €299 | €299 | +€0 | +0.1% |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Own shares acquired | 1312 | - | €0 | = | |
| Financial assistance | 1313 | - | €0 | = | |
| Other | 1319 | - | €0 | = | |
| Tax-exempt reserves | 132 | - | €0 | = | |
| Distributable reserves | 133 | - | €0 | = | |
| Profit (loss) carried forward | 14 | -€2,039,992 | -€9,907,932 | -€7.9m | -385.7% |
| Investment grants | 15 | - | €0 | = | |
| Advance to shareholders on the distribution of net assets | 19 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €0 | = | |
| Provisions for liabilities and charges | 160/5 | - | €0 | = | |
| Pensions and similar obligations | 160 | - | €0 | = | |
| Taxes | 161 | - | €0 | = | |
| Major repairs and maintenance | 162 | - | €0 | = | |
| Environmental obligations | 163 | - | €0 | = | |
| Other liabilities and charges | 164/5 | - | €0 | = | |
| Deferred taxes | 168 | - | €0 | = | |
| Amounts payable | 17/49 | €4,093,908 | €12,632,562 | +€8.5m | +208.6% |
| Amounts payable after more than one year | 17 | €93,854 | €1,013,276 | +€919,422 | +979.6% |
| Financial debts | 170/4 | €93,854 | €1,013,276 | +€919,422 | +979.6% |
| Subordinated loans | 170 | - | €0 | = | |
| Unsubordinated bonds | 171 | - | €0 | = | |
| Leasing and similar obligations | 172 | - | €0 | = | |
| Credit institutions | 173 | €93,854 | €1,013,276 | +€919,422 | +979.6% |
| Other loans | 174 | - | €0 | = | |
| Trade debts | 175 | - | €0 | = | |
| Suppliers | 1750 | - | €0 | = | |
| Bills of exchange payable | 1751 | - | €0 | = | |
| Advances received on contracts in progress | 176 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €0 | = | |
| Amounts payable within one year | 42/48 | €3,948,208 | €11,500,455 | +€7.6m | +191.3% |
| Current portion of amounts payable after more than one year | 42 | €103,765 | €5,349,443 | +€5.2m | +5055.4% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €3,042,556 | €4,502,391 | +€1.5m | +48.0% |
| Suppliers | 440/4 | €3,042,556 | €4,502,391 | +€1.5m | +48.0% |
| Bills of exchange payable | 441 | - | €0 | = | |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €777,349 | €541,918 | -€235,431 | -30.3% |
| Taxes | 450/3 | €513,661 | €209,120 | -€304,541 | -59.3% |
| Remuneration and social security | 454/9 | €263,688 | €332,798 | +€69,110 | +26.2% |
| Other amounts payable | 47/48 | €24,539 | €1,106,703 | +€1.1m | +4410.1% |
| Accrued charges and deferred income | 492/3 | €51,846 | €118,831 | +€66,985 | +129.2% |
| Operating income | 70/76A | €15,327,299 | €11,848,763 | -€3.5m | -22.7% |
| Turnover | 70 | €14,911,559 | €10,972,320 | -€3.9m | -26.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €0 | = | |
| Own construction capitalised | 72 | - | €578,970 | +€578,970 | |
| Other operating income | 74 | €415,740 | €297,473 | -€118,267 | -28.4% |
| Operating charges | 60/66A | €15,341,710 | €18,312,154 | +€3.0m | +19.4% |
| Goods for resale, raw materials and consumables | 60 | -€4 | -€26 | -€22 | -528.0% |
| Purchases | 600/8 | - | €0 | = | |
| Change in stocks: decrease (increase) | 609 | -€4 | -€26 | -€22 | -528.0% |
| Services and other goods | 61 | €13,361,542 | €14,937,458 | +€1.6m | +11.8% |
| Remuneration, social security and pensions | 62 | €1,097,284 | €1,308,079 | +€210,795 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €510,573 | €687,195 | +€176,622 | +34.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€48,284 | €399,974 | +€448,258 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €420,599 | €1,006,981 | +€586,382 | +139.4% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | -€27,507 | -€27,507 | |
| Operating profit (loss) | 9901 | -€14,411 | -€6,463,391 | -€6.4m | -44749.1% |
| Financial income | 75/76B | - | €9,210 | +€9,210 | |
| Recurring financial income | 75 | - | €9,210 | +€9,210 | |
| Income from financial fixed assets | 750 | - | €0 | = | |
| Income from current assets | 751 | - | €9,043 | +€9,043 | |
| Other financial income | 752/9 | - | €167 | +€167 | |
| Financial charges | 65/66B | €190,025 | €1,353,831 | +€1.2m | +612.4% |
| Recurring financial charges | 65 | €190,025 | €1,303,831 | +€1.1m | +586.1% |
| Debt charges | 650 | €16,289 | €198,830 | +€182,541 | +1120.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €1,012,016 | +€1.0m | |
| Other financial charges | 652/9 | €173,736 | €92,985 | -€80,751 | -46.5% |
| Non-recurring financial charges | 66B | - | €50,000 | +€50,000 | |
| Profit (loss) for the period before taxes | 9903 | -€204,436 | -€7,808,012 | -€7.6m | -3719.3% |
| Transfer from deferred taxes | 780 | - | €0 | = | |
| Transfer to deferred taxes | 680 | - | €0 | = | |
| Income taxes | 67/77 | - | €59,929 | +€59,929 | |
| Taxes | 670/3 | - | €59,929 | +€59,929 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | -€204,436 | -€7,867,941 | -€7.7m | -3748.6% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€204,436 | -€7,867,941 | -€7.7m | -3748.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.