SMARTLOG: 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.
SMARTLOG
Largest movements
- Cash +€115,242
up €115,242 (+20.2%), from €569,869 to €685,112
mainly Trade debts (+€72,960) and Net result for the year (+€61,553)
- Receivables within one year +€45,887
up €45,887 (+100.8%), from €45,514 to €91,401
of which Trade receivables: +€42,177
- Intangible fixed assets -€24,483
down €24,483 (-28.6%), from €85,558 to €61,076
- Trade debts +€72,960
up €72,960 (+303.4%), from €24,045 to €97,005
- Profit (loss) carried forward +€61,553
up €61,553 (+15.2%), from -€404,492 to -€342,939
- Gross operating margin -€39,897
down €39,897 (-30.3%), from €131,699 to €91,803
- Depreciation -€4,530
down €4,530 (-15.6%), from €29,012 to €24,483
- Write-downs +€3,600
new in 2025: €3,600
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 | €769,554 | €904,066 | +€134,513 | +17.5% |
| Fixed assets | 21/28 | €97,258 | €72,701 | -€24,557 | -25.2% |
| Intangible fixed assets | 21 | €85,558 | €61,076 | -€24,483 | -28.6% |
| Tangible fixed assets | 22/27 | €74 | €0 | -€74 | -100.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €74 | €0 | -€74 | -100.0% |
| Financial fixed assets | 28 | €11,625 | €11,625 | = | 0.0% |
| Current assets | 29/58 | €672,296 | €831,365 | +€159,069 | +23.7% |
| Stocks and contracts in progress | 3 | €56,808 | €54,748 | -€2,060 | -3.6% |
| Stocks | 30/36 | €56,808 | €54,748 | -€2,060 | -3.6% |
| Amounts receivable within one year | 40/41 | €45,514 | €91,401 | +€45,887 | +100.8% |
| Trade receivables | 40 | €44,959 | €87,136 | +€42,177 | +93.8% |
| Other amounts receivable | 41 | €555 | €4,264 | +€3,710 | +668.8% |
| Cash at bank and in hand | 54/58 | €569,869 | €685,112 | +€115,242 | +20.2% |
| Deferred charges and accrued income | 490/1 | €105 | €105 | = | 0.0% |
| Total equity and liabilities | 10/49 | €769,554 | €904,066 | +€134,513 | +17.5% |
| Equity | 10/15 | €745,508 | €807,061 | +€61,553 | +8.3% |
| Contributions | 10/11 | €1,150,000 | €1,150,000 | = | 0.0% |
| Capital | 10 | €1,150,000 | €1,150,000 | = | 0.0% |
| Issued capital | 100 | €1,150,000 | €1,150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€404,492 | -€342,939 | +€61,553 | +15.2% |
| Amounts payable | 17/49 | €24,045 | €97,005 | +€72,960 | +303.4% |
| Amounts payable within one year | 42/48 | €24,045 | €97,005 | +€72,960 | +303.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €24,045 | €97,005 | +€72,960 | +303.4% |
| Suppliers | 440/4 | €24,045 | €97,005 | +€72,960 | +303.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €700 | €0 | -€700 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,012 | €24,483 | -€4,530 | -15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,600 | +€3,600 | |
| Other operating charges | 640/8 | €720 | €1,492 | +€772 | +107.2% |
| Non-recurring operating charges | 66A | €692 | €74 | -€618 | -89.3% |
| Gross operating margin | 9900 | €131,699 | €91,803 | -€39,897 | -30.3% |
| Operating profit (loss) | 9901 | €101,275 | €62,153 | -€39,121 | -38.6% |
| Financial charges | 65/66B | €577 | €600 | +€24 | +4.1% |
| Recurring financial charges | 65 | €577 | €600 | +€24 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €100,698 | €61,553 | -€39,145 | -38.9% |
| Profit (loss) for the period | 9904 | €100,698 | €61,553 | -€39,145 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €100,698 | €61,553 | -€39,145 | -38.9% |
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.