SMARTFUEL: 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.
SMARTFUEL
Largest movements
- Financial fixed assets -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Receivables within one year -€13,919
down €13,919 (-51.8%), from €26,857 to €12,939
of which Trade receivables: -€13,919
- Cash +€8,418
up €8,418 (+46.1%), from €18,273 to €26,691
mainly Net result for the year (+€49,028) and Investment in fixed assets (net) (+€20,000)
- Trade debts -€58,978
down €58,978 (-90.2%), from €65,372 to €6,393
- Profit (loss) carried forward +€49,028
up €49,028 (+18.7%), from -€261,743 to -€212,714
- Other debts -€12,181
down €12,181 (-8.5%), from €142,600 to €130,419
- Tax, wage and social debts -€3,462
down €3,462 (-55.9%), from €6,194 to €2,732
of which Remuneration and social security: -€2,012
- Staff costs -€45,060
down €45,060 (-99.8%), from €45,155 to €95
- Financial income +€836
up €836 (+68.7%), from €1,216 to €2,052
- Financial charges +€605
up €605 (+107.6%), from €563 to €1,168
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 | €65,223 | €39,630 | -€25,593 | -39.2% |
| Fixed assets | 21/28 | €20,092 | €0 | -€20,092 | -100.0% |
| Tangible fixed assets | 22/27 | €92 | €0 | -€92 | -100.0% |
| Furniture and vehicles | 24 | €92 | €0 | -€92 | -100.0% |
| Financial fixed assets | 28 | €20,000 | €0 | -€20,000 | -100.0% |
| Current assets | 29/58 | €45,131 | €39,630 | -€5,501 | -12.2% |
| Amounts receivable within one year | 40/41 | €26,857 | €12,939 | -€13,919 | -51.8% |
| Trade receivables | 40 | €26,857 | €12,939 | -€13,919 | -51.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €18,273 | €26,691 | +€8,418 | +46.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €65,223 | €39,630 | -€25,593 | -39.2% |
| Equity | 10/15 | -€149,243 | -€100,214 | +€49,028 | +32.9% |
| Contributions | 10/11 | €112,500 | €112,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€261,743 | -€212,714 | +€49,028 | +18.7% |
| Amounts payable | 17/49 | €214,465 | €139,844 | -€74,621 | -34.8% |
| Amounts payable after more than one year | 17 | €300 | €300 | = | 0.0% |
| Other amounts payable | 178/9 | €300 | €300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €214,165 | €139,544 | -€74,621 | -34.8% |
| Trade debts | 44 | €65,372 | €6,393 | -€58,978 | -90.2% |
| Suppliers | 440/4 | €65,372 | €6,393 | -€58,978 | -90.2% |
| Taxes, remuneration and social security | 45 | €6,194 | €2,732 | -€3,462 | -55.9% |
| Taxes | 450/3 | €4,182 | €2,732 | -€1,450 | -34.7% |
| Remuneration and social security | 454/9 | €2,012 | €0 | -€2,012 | -100.0% |
| Other amounts payable | 47/48 | €142,600 | €130,419 | -€12,181 | -8.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €45,155 | €95 | -€45,060 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138 | €92 | -€46 | -33.4% |
| Other operating charges | 640/8 | €678 | €694 | +€16 | +2.4% |
| Gross operating margin | 9900 | €49,489 | €49,024 | -€465 | -0.9% |
| Operating profit (loss) | 9901 | €3,518 | €48,144 | +€44,626 | +1268.5% |
| Financial income | 75/76B | €1,216 | €2,052 | +€836 | +68.7% |
| Recurring financial income | 75 | €1,216 | €2,052 | +€836 | +68.7% |
| Financial charges | 65/66B | €563 | €1,168 | +€605 | +107.6% |
| Recurring financial charges | 65 | €563 | €1,168 | +€605 | +107.6% |
| Profit (loss) for the period before taxes | 9903 | €4,172 | €49,028 | +€44,857 | +1075.3% |
| Income taxes | 67/77 | €202 | €0 | -€202 | -100.0% |
| Profit (loss) for the period | 9904 | €3,970 | €49,028 | +€45,058 | +1135.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,970 | €49,028 | +€45,058 | +1135.0% |
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 7 October 2026 via checked.be.