SmartGrow: 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.
SmartGrow
Largest movements
- Receivables within one year +€22,833
up €22,833 (+129.2%), from €17,670 to €40,504
of which Trade receivables: +€22,833
- Cash +€13,716
up €13,716 (+15.1%), from €90,953 to €104,670
mainly Net result for the year (+€45,274) and Other debts (+€27,457)
- Tangible fixed assets -€7,010
down €7,010 (-85.9%), from €8,164 to €1,154
- Other debts +€27,457
up €27,457 (+142.6%), from €19,250 to €46,707
- Tax, wage and social debts +€2,585
up €2,585 (+20.7%), from €12,472 to €15,057
of which Remuneration and social security: +€2,740
- Financial charges -€20,701
down €20,701 (-38.8%), from €53,421 to €32,720
- Gross operating margin +€15,476
up €15,476 (+18.1%), from €85,694 to €101,170
- Taxes +€6,969
up €6,969 (+96.5%), from €7,223 to €14,192
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 | €118,621 | €148,302 | +€29,681 | +25.0% |
| Fixed assets | 21/28 | €8,404 | €1,394 | -€7,010 | -83.4% |
| Tangible fixed assets | 22/27 | €8,164 | €1,154 | -€7,010 | -85.9% |
| Furniture and vehicles | 24 | €8,164 | €1,154 | -€7,010 | -85.9% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €110,218 | €146,908 | +€36,690 | +33.3% |
| Amounts receivable within one year | 40/41 | €17,670 | €40,504 | +€22,833 | +129.2% |
| Trade receivables | 40 | €11,652 | €34,485 | +€22,833 | +196.0% |
| Other amounts receivable | 41 | €6,019 | €6,019 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €90,953 | €104,670 | +€13,716 | +15.1% |
| Deferred charges and accrued income | 490/1 | €1,594 | €1,735 | +€141 | +8.8% |
| Total equity and liabilities | 10/49 | €118,621 | €148,302 | +€29,681 | +25.0% |
| Equity | 10/15 | €86,187 | €86,187 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €83,687 | €83,687 | = | 0.0% |
| Distributable reserves | 133 | €83,687 | €83,687 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €32,434 | €62,115 | +€29,681 | +91.5% |
| Amounts payable within one year | 42/48 | €32,052 | €62,115 | +€30,062 | +93.8% |
| Trade debts | 44 | €330 | €351 | +€20 | +6.1% |
| Suppliers | 440/4 | €330 | €351 | +€20 | +6.1% |
| Taxes, remuneration and social security | 45 | €12,472 | €15,057 | +€2,585 | +20.7% |
| Taxes | 450/3 | €12,472 | €12,317 | -€155 | -1.2% |
| Remuneration and social security | 454/9 | - | €2,740 | +€2,740 | |
| Other amounts payable | 47/48 | €19,250 | €46,707 | +€27,457 | +142.6% |
| Accrued charges and deferred income | 492/3 | €382 | €0 | -€382 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €241 | +€241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,938 | €7,010 | +€72 | +1.0% |
| Other operating charges | 640/8 | €982 | €1,734 | +€752 | +76.5% |
| Gross operating margin | 9900 | €85,694 | €101,170 | +€15,476 | +18.1% |
| Operating profit (loss) | 9901 | €77,774 | €92,186 | +€14,412 | +18.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €53,421 | €32,720 | -€20,701 | -38.8% |
| Recurring financial charges | 65 | €53,421 | €32,720 | -€20,701 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €24,353 | €59,466 | +€35,113 | +144.2% |
| Income taxes | 67/77 | €7,223 | €14,192 | +€6,969 | +96.5% |
| Profit (loss) for the period | 9904 | €17,130 | €45,274 | +€28,144 | +164.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,130 | €45,274 | +€28,144 | +164.3% |
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 8 October 2026 via checked.be.