SMARTIMMO: 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.
SMARTIMMO
Largest movements
- Financial fixed assets +€2.3m
up €2.3m (+157.2%), from €1.5m to €3.7m
- Receivables within one year -€1.4m
down €1.4m (-56.6%), from €2.6m to €1.1m
of which Other amounts receivable: -€2.2m
- Tangible fixed assets -€779,534
down €779,534 (-23.5%), from €3.3m to €2.5m
of which Land and buildings: -€436,667
- Deferred charges and accrued income -€168,130
down €168,130 (-60.7%), from €276,820 to €108,690
- Accrued charges and deferred income +€296,104
up €296,104 (+807.2%), from €36,683 to €332,787
- Profit (loss) carried forward -€150,901
down €150,901 (-91.1%), from -€165,732 to -€316,633
- Provisions -€101,060
no longer reported in 2025 (was €101,060)
- Debts after one year -€100,890
down €100,890 (-32.8%), from €307,283 to €206,393
of which Financial debts: -€102,000
- Financial income -€340,384
down €340,384 (-87.3%), from €390,076 to €49,692
of which Financial income: -€332,009
- Financial charges -€128,792
down €128,792 (-28.6%), from €449,922 to €321,130
- Gross operating margin -€124,933
down €124,933 (-5.4%), from €2.3m to €2.2m
- Turnover -€124,004
down €124,004 (-13.5%), from €918,988 to €794,984
- Purchases and services +€111,157
up €111,157 (+5.4%), from €2.1m to €2.2m
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 | €8,092,784 | €8,071,523 | -€21,261 | -0.3% |
| Fixed assets | 21/28 | €5,003,550 | €6,535,017 | +€1.5m | +30.6% |
| Intangible fixed assets | 21 | €234,679 | €258,110 | +€23,431 | +10.0% |
| Tangible fixed assets | 22/27 | €3,314,077 | €2,534,543 | -€779,534 | -23.5% |
| Land and buildings | 22 | €2,063,853 | €1,627,186 | -€436,667 | -21.2% |
| Plant, machinery and equipment | 23 | €452,967 | €150,488 | -€302,479 | -66.8% |
| Furniture and vehicles | 24 | €63,110 | €58,436 | -€4,674 | -7.4% |
| Other tangible fixed assets | 26 | €734,147 | €698,433 | -€35,714 | -4.9% |
| Financial fixed assets | 28 | €1,454,794 | €3,742,364 | +€2.3m | +157.2% |
| Current assets | 29/58 | €3,089,234 | €1,536,506 | -€1.6m | -50.3% |
| Amounts receivable within one year | 40/41 | €2,556,667 | €1,110,004 | -€1.4m | -56.6% |
| Trade receivables | 40 | €248,155 | €1,032,804 | +€784,649 | +316.2% |
| Other amounts receivable | 41 | €2,308,512 | €77,200 | -€2.2m | -96.7% |
| Cash at bank and in hand | 54/58 | €255,747 | €317,812 | +€62,065 | +24.3% |
| Deferred charges and accrued income | 490/1 | €276,820 | €108,690 | -€168,130 | -60.7% |
| Total equity and liabilities | 10/49 | €8,092,784 | €8,071,523 | -€21,261 | -0.3% |
| Equity | 10/15 | -€54,865 | -€205,766 | -€150,901 | -275.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €90,867 | €90,867 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €88,867 | €88,867 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€165,732 | -€316,633 | -€150,901 | -91.1% |
| Provisions and deferred taxes | 16 | €101,060 | - | -€101,060 | |
| Provisions for liabilities and charges | 160/5 | €101,060 | - | -€101,060 | |
| Other liabilities and charges | 164/5 | €101,060 | - | -€101,060 | |
| Amounts payable | 17/49 | €8,046,589 | €8,277,289 | +€230,700 | +2.9% |
| Amounts payable after more than one year | 17 | €307,283 | €206,393 | -€100,890 | -32.8% |
| Financial debts | 170/4 | €307,283 | €205,283 | -€102,000 | -33.2% |
| Other amounts payable | 178/9 | - | €1,110 | +€1,110 | |
| Amounts payable within one year | 42/48 | €7,702,623 | €7,738,109 | +€35,486 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €101,189 | €101,189 | = | 0.0% |
| Trade debts | 44 | €299,736 | €340,630 | +€40,894 | +13.6% |
| Suppliers | 440/4 | €299,736 | €340,630 | +€40,894 | +13.6% |
| Taxes, remuneration and social security | 45 | €302,218 | €224,073 | -€78,145 | -25.9% |
| Taxes | 450/3 | €177,273 | €113,539 | -€63,734 | -36.0% |
| Remuneration and social security | 454/9 | €124,945 | €110,534 | -€14,411 | -11.5% |
| Other amounts payable | 47/48 | €6,999,480 | €7,072,217 | +€72,737 | +1.0% |
| Accrued charges and deferred income | 492/3 | €36,683 | €332,787 | +€296,104 | +807.2% |
| Turnover | 70 | €918,988 | €794,984 | -€124,004 | -13.5% |
| Non-recurring operating income | 76A | €4,361 | €101,060 | +€96,699 | +2217.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,066,446 | €2,177,603 | +€111,157 | +5.4% |
| Remuneration, social security and pensions | 62 | €1,049,867 | €1,145,672 | +€95,805 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €869,916 | €835,017 | -€34,899 | -4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,706 | - | -€13,706 | |
| Other operating charges | 640/8 | €72,375 | €87,293 | +€14,918 | +20.6% |
| Non-recurring operating charges | 66A | €109,583 | €2,332 | -€107,251 | -97.9% |
| Gross operating margin | 9900 | €2,321,632 | €2,196,699 | -€124,933 | -5.4% |
| Operating profit (loss) | 9901 | €206,185 | €126,385 | -€79,800 | -38.7% |
| Financial income | 75/76B | €390,076 | €49,692 | -€340,384 | -87.3% |
| Recurring financial income | 75 | €381,701 | €49,692 | -€332,009 | -87.0% |
| Non-recurring financial income | 76B | €8,375 | - | -€8,375 | |
| Financial charges | 65/66B | €449,922 | €321,130 | -€128,792 | -28.6% |
| Recurring financial charges | 65 | €449,922 | €321,130 | -€128,792 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €146,339 | -€145,053 | -€291,392 | |
| Income taxes | 67/77 | €2 | €5,848 | +€5,846 | +292300.0% |
| Profit (loss) for the period | 9904 | €146,337 | -€150,901 | -€297,238 | |
| Transfer from tax-exempt reserves | 789 | €88,867 | - | -€88,867 | |
| Profit (loss) for the period to be appropriated | 9905 | €235,204 | -€150,901 | -€386,105 |
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 30 September 2026 via checked.be.