SMARTKODER: 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.
SMARTKODER
Largest movements
- Cash +€199,091
up €199,091 (+314.3%), from €63,335 to €262,426
mainly Investment in fixed assets (net) (+€175,812) and Net result for the year (+€89,777)
- Tangible fixed assets -€176,722
down €176,722 (-99.2%), from €178,088 to €1,366
of which Land and buildings: -€177,249
- Current investments -€39,000
no longer reported in 2025 (was €39,000)
- Reserves +€77,454
up €77,454 (+65.1%), from €118,962 to €196,416
- Debts after one year -€53,736
no longer reported in 2025 (was €53,736)
- Other debts -€41,994
down €41,994 (-50.7%), from €82,860 to €40,867
- Tax, wage and social debts +€11,459
up €11,459 (+109.0%), from €10,515 to €21,974
of which Taxes: +€9,143
- Current portion of long-term debt -€8,450
no longer reported in 2025 (was €8,450)
- Gross operating margin +€73,668
up €73,668 (+129.7%), from €56,795 to €130,463
- Taxes +€22,843
up €22,843 (+172.6%), from €13,237 to €36,080
- Depreciation -€4,860
down €4,860 (-84.2%), from €5,770 to €910
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 | €295,881 | €280,406 | -€15,475 | -5.2% |
| Fixed assets | 21/28 | €178,113 | €1,391 | -€176,722 | -99.2% |
| Tangible fixed assets | 22/27 | €178,088 | €1,366 | -€176,722 | -99.2% |
| Land and buildings | 22 | €177,249 | - | -€177,249 | |
| Furniture and vehicles | 24 | €839 | €1,366 | +€527 | +62.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €117,768 | €279,015 | +€161,247 | +136.9% |
| Amounts receivable within one year | 40/41 | €12,197 | €13,764 | +€1,567 | +12.8% |
| Trade receivables | 40 | €12,197 | €13,764 | +€1,567 | +12.8% |
| Current investments | 50/53 | €39,000 | - | -€39,000 | |
| Cash at bank and in hand | 54/58 | €63,335 | €262,426 | +€199,091 | +314.3% |
| Deferred charges and accrued income | 490/1 | €3,236 | €2,825 | -€411 | -12.7% |
| Total equity and liabilities | 10/49 | €295,881 | €280,406 | -€15,475 | -5.2% |
| Equity | 10/15 | €137,562 | €215,016 | +€77,454 | +56.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,962 | €196,416 | +€77,454 | +65.1% |
| Distributable reserves | 133 | €118,962 | €196,416 | +€77,454 | +65.1% |
| Amounts payable | 17/49 | €158,319 | €65,389 | -€92,929 | -58.7% |
| Amounts payable after more than one year | 17 | €53,736 | - | -€53,736 | |
| Financial debts | 170/4 | €53,736 | - | -€53,736 | |
| Amounts payable within one year | 42/48 | €103,258 | €64,189 | -€39,069 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €8,450 | - | -€8,450 | |
| Trade debts | 44 | €1,433 | €1,349 | -€84 | -5.8% |
| Suppliers | 440/4 | €1,433 | €1,349 | -€84 | -5.8% |
| Taxes, remuneration and social security | 45 | €10,515 | €21,974 | +€11,459 | +109.0% |
| Taxes | 450/3 | €8,249 | €17,393 | +€9,143 | +110.8% |
| Remuneration and social security | 454/9 | €2,265 | €4,581 | +€2,316 | +102.2% |
| Other amounts payable | 47/48 | €82,860 | €40,867 | -€41,994 | -50.7% |
| Accrued charges and deferred income | 492/3 | €1,325 | €1,200 | -€125 | -9.4% |
| Non-recurring operating income | 76A | - | €75,201 | +€75,201 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,770 | €910 | -€4,860 | -84.2% |
| Other operating charges | 640/8 | €1,601 | €1,292 | -€309 | -19.3% |
| Gross operating margin | 9900 | €56,795 | €130,463 | +€73,668 | +129.7% |
| Operating profit (loss) | 9901 | €49,424 | €128,261 | +€78,837 | +159.5% |
| Financial income | 75/76B | €2,093 | €1,227 | -€866 | -41.4% |
| Recurring financial income | 75 | €2,093 | €1,227 | -€866 | -41.4% |
| Financial charges | 65/66B | €4,076 | €3,631 | -€444 | -10.9% |
| Recurring financial charges | 65 | €4,076 | €3,631 | -€444 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €47,441 | €125,856 | +€78,416 | +165.3% |
| Income taxes | 67/77 | €13,237 | €36,080 | +€22,843 | +172.6% |
| Profit (loss) for the period | 9904 | €34,204 | €89,777 | +€55,573 | +162.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,204 | €89,777 | +€55,573 | +162.5% |
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 9 October 2026 via checked.be.