SMARTGROUP: 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.
SMARTGROUP
Largest movements
- Cash -€54,836
down €54,836 (-57.5%), from €95,316 to €40,479
mainly Receivables within one year (-€45,227) and Trade debts (-€27,152)
- Receivables within one year +€45,227
up €45,227 (+34.3%), from €131,805 to €177,031
of which Trade receivables: +€44,684
- Tangible fixed assets +€6,445
up €6,445 (+15.6%), from €41,434 to €47,879
of which Furniture and vehicles: +€28,722
- Trade debts -€27,152
down €27,152 (-54.1%), from €50,145 to €22,993
- Tax, wage and social debts +€15,714
up €15,714 (+66.5%), from €23,643 to €39,357
of which Remuneration and social security: +€36,324
- Current portion of long-term debt +€15,000
up €15,000 (+235.7%), from €6,364 to €21,364
- Profit (loss) carried forward -€6,464
down €6,464 (-33.7%), from -€19,171 to -€25,635
- Gross operating margin -€62,867
down €62,867 (-49.8%), from €126,301 to €63,434
- Financial charges +€20,115
up €20,115 (+699.7%), from €2,875 to €22,990
of which Non-recurring financial charges: +€21,427
- Staff costs -€11,498
down €11,498 (-36.2%), from €31,737 to €20,239
- Taxes -€7,212
down €7,212 (-32.5%), from €22,212 to €15,000
- Depreciation +€3,979
up €3,979 (+52.6%), from €7,568 to €11,546
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €269,088 | €265,773 | -€3,314 | -1.2% |
| Fixed assets | 21/28 | €41,967 | €48,262 | +€6,295 | +15.0% |
| Intangible fixed assets | 21 | €533 | €383 | -€150 | -28.1% |
| Tangible fixed assets | 22/27 | €41,434 | €47,879 | +€6,445 | +15.6% |
| Land and buildings | 22 | €23,045 | €2,458 | -€20,587 | -89.3% |
| Plant, machinery and equipment | 23 | €8,470 | €6,780 | -€1,690 | -20.0% |
| Furniture and vehicles | 24 | €9,919 | €38,641 | +€28,722 | +289.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €227,121 | €217,511 | -€9,610 | -4.2% |
| Amounts receivable within one year | 40/41 | €131,805 | €177,031 | +€45,227 | +34.3% |
| Trade receivables | 40 | €70,750 | €115,435 | +€44,684 | +63.2% |
| Other amounts receivable | 41 | €61,054 | €61,597 | +€542 | +0.9% |
| Cash at bank and in hand | 54/58 | €95,316 | €40,479 | -€54,836 | -57.5% |
| Total equity and liabilities | 10/49 | €269,088 | €265,773 | -€3,314 | -1.2% |
| Equity | 10/15 | €172,324 | €165,860 | -€6,464 | -3.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €172,945 | €172,945 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,132 | €5,132 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,132 | €5,132 | = | 0.0% |
| Distributable reserves | 133 | €167,814 | €167,814 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,171 | -€25,635 | -€6,464 | -33.7% |
| Amounts payable | 17/49 | €96,764 | €99,913 | +€3,149 | +3.3% |
| Amounts payable within one year | 42/48 | €81,764 | €84,913 | +€3,149 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €6,364 | €21,364 | +€15,000 | +235.7% |
| Financial debts | 43 | €1,612 | €1,200 | -€413 | -25.6% |
| Credit institutions | 430/8 | €1,612 | €1,200 | -€413 | -25.6% |
| Trade debts | 44 | €50,145 | €22,993 | -€27,152 | -54.1% |
| Suppliers | 440/4 | €50,145 | €22,993 | -€27,152 | -54.1% |
| Taxes, remuneration and social security | 45 | €23,643 | €39,357 | +€15,714 | +66.5% |
| Taxes | 450/3 | €20,610 | - | -€20,610 | |
| Remuneration and social security | 454/9 | €3,033 | €39,357 | +€36,324 | +1197.5% |
| Accrued charges and deferred income | 492/3 | €15,000 | €15,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €31,737 | €20,239 | -€11,498 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,568 | €11,546 | +€3,979 | +52.6% |
| Other operating charges | 640/8 | €265 | €156 | -€109 | -41.1% |
| Gross operating margin | 9900 | €126,301 | €63,434 | -€62,867 | -49.8% |
| Operating profit (loss) | 9901 | €86,731 | €31,493 | -€55,238 | -63.7% |
| Financial income | 75/76B | €109 | €33 | -€75 | -69.4% |
| Recurring financial income | 75 | €109 | €33 | -€75 | -69.4% |
| Financial charges | 65/66B | €2,875 | €22,990 | +€20,115 | +699.7% |
| Recurring financial charges | 65 | €2,875 | €1,563 | -€1,312 | -45.6% |
| Non-recurring financial charges | 66B | - | €21,427 | +€21,427 | |
| Profit (loss) for the period before taxes | 9903 | €83,966 | €8,536 | -€75,429 | -89.8% |
| Income taxes | 67/77 | €22,212 | €15,000 | -€7,212 | -32.5% |
| Profit (loss) for the period | 9904 | €61,753 | -€6,464 | -€68,217 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,753 | -€6,464 | -€68,217 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.