SMARTFOX: 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.
SMARTFOX
Largest movements
- Receivables within one year +€51,429
up €51,429 (+59.2%), from €86,932 to €138,361
of which Other amounts receivable: +€77,919
- Cash -€9,868
down €9,868 (-39.4%), from €25,015 to €15,147
mainly Receivables within one year (-€51,429) and Tax, wage and social debts (-€23,816)
- Tangible fixed assets +€4,973
up €4,973 (+25.3%), from €19,666 to €24,639
- Trade debts +€53,534
up €53,534 (+1814.7%), from €2,950 to €56,484
- Tax, wage and social debts -€23,816
down €23,816 (-37.1%), from €64,114 to €40,298
of which Taxes: -€23,682
- Profit (loss) carried forward +€17,291
up €17,291, from -€2,927 to €14,364
- Other debts +€9,915
new in 2025: €9,915
- Current portion of long-term debt -€9,503
down €9,503 (-91.5%), from €10,389 to €886
- Gross operating margin -€13,996
down €13,996 (-9.0%), from €156,109 to €142,113
- Financial income +€2,664
up €2,664 (+76.4%), from €3,489 to €6,153
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 | €161,672 | €208,207 | +€46,535 | +28.8% |
| Fixed assets | 21/28 | €19,666 | €24,639 | +€4,973 | +25.3% |
| Tangible fixed assets | 22/27 | €19,666 | €24,639 | +€4,973 | +25.3% |
| Furniture and vehicles | 24 | €19,666 | €24,639 | +€4,973 | +25.3% |
| Current assets | 29/58 | €142,006 | €183,568 | +€41,562 | +29.3% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €86,932 | €138,361 | +€51,429 | +59.2% |
| Trade receivables | 40 | €38,962 | €12,472 | -€26,490 | -68.0% |
| Other amounts receivable | 41 | €47,970 | €125,889 | +€77,919 | +162.4% |
| Cash at bank and in hand | 54/58 | €25,015 | €15,147 | -€9,868 | -39.4% |
| Deferred charges and accrued income | 490/1 | €59 | €60 | +€1 | +1.7% |
| Total equity and liabilities | 10/49 | €161,672 | €208,207 | +€46,535 | +28.8% |
| Equity | 10/15 | €83,333 | €100,624 | +€17,291 | +20.7% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €72,000 | €72,000 | = | 0.0% |
| Distributable reserves | 133 | €72,000 | €72,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,927 | €14,364 | +€17,291 | |
| Amounts payable | 17/49 | €78,339 | €107,583 | +€29,244 | +37.3% |
| Amounts payable after more than one year | 17 | €886 | - | -€886 | |
| Financial debts | 170/4 | €886 | - | -€886 | |
| Amounts payable within one year | 42/48 | €77,453 | €107,583 | +€30,130 | +38.9% |
| Current portion of amounts payable after more than one year | 42 | €10,389 | €886 | -€9,503 | -91.5% |
| Trade debts | 44 | €2,950 | €56,484 | +€53,534 | +1814.7% |
| Suppliers | 440/4 | €2,950 | €56,484 | +€53,534 | +1814.7% |
| Taxes, remuneration and social security | 45 | €64,114 | €40,298 | -€23,816 | -37.1% |
| Taxes | 450/3 | €57,665 | €33,983 | -€23,682 | -41.1% |
| Remuneration and social security | 454/9 | €6,449 | €6,315 | -€134 | -2.1% |
| Other amounts payable | 47/48 | - | €9,915 | +€9,915 | |
| Remuneration, social security and pensions | 62 | €100,050 | €98,938 | -€1,112 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,726 | €12,808 | +€82 | +0.6% |
| Other operating charges | 640/8 | €2,277 | €1,808 | -€469 | -20.6% |
| Non-recurring operating charges | 66A | €366 | €475 | +€109 | +29.8% |
| Gross operating margin | 9900 | €156,109 | €142,113 | -€13,996 | -9.0% |
| Operating profit (loss) | 9901 | €40,690 | €28,084 | -€12,606 | -31.0% |
| Financial income | 75/76B | €3,489 | €6,153 | +€2,664 | +76.4% |
| Recurring financial income | 75 | €3,489 | €6,153 | +€2,664 | +76.4% |
| Financial charges | 65/66B | €7,913 | €8,946 | +€1,033 | +13.1% |
| Recurring financial charges | 65 | €7,913 | €8,946 | +€1,033 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €36,266 | €25,291 | -€10,975 | -30.3% |
| Income taxes | 67/77 | €6,700 | €8,000 | +€1,300 | +19.4% |
| Profit (loss) for the period | 9904 | €29,566 | €17,291 | -€12,275 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,566 | €17,291 | -€12,275 | -41.5% |
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.