SMARTIM: 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.
SMARTIM
Largest movements
- Receivables within one year +€5,203
up €5,203 (+13.9%), from €37,450 to €42,653
- Current investments +€2,848
up €2,848 (+8.8%), from €32,410 to €35,258
- Reserves +€11,452
up €11,452 (+65.3%), from €17,543 to €28,995
of which Distributable reserves: +€11,452
- Other debts -€2,714
down €2,714 (-8.7%), from €31,120 to €28,406
- Trade debts -€2,233
no longer reported in 2025 (was €2,233)
- Tax, wage and social debts +€1,424
up €1,424 (+10.9%), from €13,018 to €14,442
- Gross operating margin +€10,915
up €10,915 (+125.4%), from €8,705 to €19,620
- Depreciation -€5,056
down €5,056 (-96.8%), from €5,221 to €165
- Taxes +€4,119
up €4,119 (+545.6%), from €755 to €4,874
- Financial charges +€407
up €407 (+26.4%), from €1,544 to €1,952
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,994 | €78,923 | +€7,929 | +11.2% |
| Fixed assets | 21/28 | €330 | €165 | -€165 | -50.0% |
| Tangible fixed assets | 22/27 | €330 | €165 | -€165 | -50.0% |
| Furniture and vehicles | 24 | €330 | €165 | -€165 | -50.0% |
| Current assets | 29/58 | €70,664 | €78,757 | +€8,094 | +11.5% |
| Amounts receivable within one year | 40/41 | €37,450 | €42,653 | +€5,203 | +13.9% |
| Trade receivables | 40 | €37,450 | €42,653 | +€5,203 | +13.9% |
| Current investments | 50/53 | €32,410 | €35,258 | +€2,848 | +8.8% |
| Deferred charges and accrued income | 490/1 | €804 | €847 | +€43 | +5.4% |
| Total equity and liabilities | 10/49 | €70,994 | €78,923 | +€7,929 | +11.2% |
| Equity | 10/15 | €24,622 | €36,075 | +€11,452 | +46.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,543 | €28,995 | +€11,452 | +65.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,683 | €27,135 | +€11,452 | +73.0% |
| Profit (loss) carried forward | 14 | €879 | €879 | +€0 | 0.0% |
| Amounts payable | 17/49 | €46,371 | €42,848 | -€3,523 | -7.6% |
| Amounts payable within one year | 42/48 | €46,371 | €42,848 | -€3,523 | -7.6% |
| Trade debts | 44 | €2,233 | - | -€2,233 | |
| Suppliers | 440/4 | €2,233 | - | -€2,233 | |
| Taxes, remuneration and social security | 45 | €13,018 | €14,442 | +€1,424 | +10.9% |
| Taxes | 450/3 | €13,018 | €14,442 | +€1,424 | +10.9% |
| Other amounts payable | 47/48 | €31,120 | €28,406 | -€2,714 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,221 | €165 | -€5,056 | -96.8% |
| Other operating charges | 640/8 | €1,164 | €1,177 | +€13 | +1.1% |
| Gross operating margin | 9900 | €8,705 | €19,620 | +€10,915 | +125.4% |
| Operating profit (loss) | 9901 | €2,320 | €18,278 | +€15,958 | +687.8% |
| Financial charges | 65/66B | €1,544 | €1,952 | +€407 | +26.4% |
| Recurring financial charges | 65 | €1,544 | €1,952 | +€407 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €776 | €16,326 | +€15,550 | +2004.5% |
| Income taxes | 67/77 | €755 | €4,874 | +€4,119 | +545.6% |
| Profit (loss) for the period | 9904 | €21 | €11,452 | +€11,431 | +55037.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21 | €11,452 | +€11,431 | +55037.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.