SMARTLINE: 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.
SMARTLINE
Largest movements
- Tangible fixed assets -€12,863
down €12,863 (-19.9%), from €64,539 to €51,676
of which Furniture and vehicles: -€12,863
- Receivables within one year +€8,335
up €8,335 (+23.4%), from €35,644 to €43,980
of which Other amounts receivable: +€9,757
- Cash -€6,195
down €6,195 (-99.5%), from €6,224 to €29
mainly Net result for the year (-€25,792) and Debts after one year (-€11,098)
- Profit (loss) carried forward -€25,792
down €25,792 (-87.3%), from €29,551 to €3,759
- Short-term financial debts +€18,540
new in 2025: €18,540
- Debts after one year -€11,098
down €11,098 (-26.4%), from €42,072 to €30,974
- Trade debts +€8,499
up €8,499 (+298.4%), from €2,849 to €11,348
- Accrued charges and deferred income -€1,200
no longer reported in 2025 (was €1,200)
- Gross operating margin -€50,325
down €50,325, from €47,795 to -€2,530
- Staff costs -€18,153
down €18,153 (-69.6%), from €26,079 to €7,926
- Other operating charges -€6,279
down €6,279 (-87.9%), from €7,141 to €862
- Depreciation +€5,986
up €5,986 (+87.0%), from €6,877 to €12,863
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 | €108,899 | €97,145 | -€11,753 | -10.8% |
| Fixed assets | 21/28 | €64,714 | €51,851 | -€12,863 | -19.9% |
| Tangible fixed assets | 22/27 | €64,539 | €51,676 | -€12,863 | -19.9% |
| Furniture and vehicles | 24 | €57,439 | €44,576 | -€12,863 | -22.4% |
| Other tangible fixed assets | 26 | €7,100 | €7,100 | = | 0.0% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €44,185 | €45,294 | +€1,110 | +2.5% |
| Amounts receivable within one year | 40/41 | €35,644 | €43,980 | +€8,335 | +23.4% |
| Trade receivables | 40 | €9,266 | €7,845 | -€1,421 | -15.3% |
| Other amounts receivable | 41 | €26,378 | €36,134 | +€9,757 | +37.0% |
| Cash at bank and in hand | 54/58 | €6,224 | €29 | -€6,195 | -99.5% |
| Deferred charges and accrued income | 490/1 | €2,317 | €1,286 | -€1,031 | -44.5% |
| Total equity and liabilities | 10/49 | €108,899 | €97,145 | -€11,753 | -10.8% |
| Equity | 10/15 | €43,811 | €18,019 | -€25,792 | -58.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €29,551 | €3,759 | -€25,792 | -87.3% |
| Amounts payable | 17/49 | €65,088 | €79,126 | +€14,038 | +21.6% |
| Amounts payable after more than one year | 17 | €42,072 | €30,974 | -€11,098 | -26.4% |
| Financial debts | 170/4 | €42,072 | €30,974 | -€11,098 | -26.4% |
| Amounts payable within one year | 42/48 | €21,816 | €48,152 | +€26,336 | +120.7% |
| Current portion of amounts payable after more than one year | 42 | €10,631 | €10,899 | +€268 | +2.5% |
| Financial debts | 43 | - | €18,540 | +€18,540 | |
| Credit institutions | 430/8 | - | €18,540 | +€18,540 | |
| Trade debts | 44 | €2,849 | €11,348 | +€8,499 | +298.4% |
| Suppliers | 440/4 | €2,849 | €11,348 | +€8,499 | +298.4% |
| Taxes, remuneration and social security | 45 | €8,336 | €7,365 | -€971 | -11.6% |
| Taxes | 450/3 | €5,571 | €4,202 | -€1,369 | -24.6% |
| Remuneration and social security | 454/9 | €2,765 | €3,163 | +€398 | +14.4% |
| Accrued charges and deferred income | 492/3 | €1,200 | - | -€1,200 | |
| Remuneration, social security and pensions | 62 | €26,079 | €7,926 | -€18,153 | -69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,877 | €12,863 | +€5,986 | +87.0% |
| Other operating charges | 640/8 | €7,141 | €862 | -€6,279 | -87.9% |
| Non-recurring operating charges | 66A | - | €133 | +€133 | |
| Gross operating margin | 9900 | €47,795 | -€2,530 | -€50,325 | |
| Operating profit (loss) | 9901 | €7,698 | -€24,314 | -€32,013 | |
| Financial income | 75/76B | €1,383 | €1,655 | +€272 | +19.7% |
| Recurring financial income | 75 | €1,383 | €1,655 | +€272 | +19.7% |
| Financial charges | 65/66B | €2,585 | €2,952 | +€367 | +14.2% |
| Recurring financial charges | 65 | €2,585 | €2,952 | +€367 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €6,496 | -€25,611 | -€32,108 | |
| Income taxes | 67/77 | €456 | €180 | -€276 | -60.4% |
| Profit (loss) for the period | 9904 | €6,040 | -€25,792 | -€31,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,040 | -€25,792 | -€31,832 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.