SMARTMAT: 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.
What changed
SMARTMAT
NACE 47.120, Other non-specialised retail sale
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€2.0m
2023 · €1.8m+€201,683
Equity
€9.0m
2023 · €7.1m+€1.9m
Cash
€6.0m
2023 · €3.9m+€2.1m
Balance sheet total
€15.4m
2023 · €13.7m+€1.7m
Largest movements
Assets
- Cash +€2.1m
up €2.1m (+54.1%), from €3.9m to €6.0m
mainly Net result for the year (+€2.0m) and Depreciation (+€1.9m)
- Intangible fixed assets -€1.3m
down €1.3m (-28.0%), from €4.8m to €3.5m
- Current investments +€1.2m
up €1.2m (+87.8%), from €1.4m to €2.5m
- Receivables within one year -€275,353
down €275,353 (-22.3%), from €1.2m to €956,722
of which Trade receivables: -€446,176
Equity and liabilities
- Profit (loss) carried forward +€1.8m
up €1.8m (+174.7%), from €1.0m to €2.9m
- Advances received +€513,024
new in 2024: €513,024
- Current portion of long-term debt -€461,947
down €461,947 (-71.5%), from €646,185 to €184,239
- Accrued charges and deferred income -€315,407
down €315,407 (-41.1%), from €767,420 to €452,013
- Provisions +€200,000
new in 2024: €200,000
Income statement
- Turnover +€13.5m
up €13.5m (+36.7%), from €36.9m to €50.4m
- Goods and materials +€6.5m
up €6.5m (+33.7%), from €19.2m to €25.7m
of which Purchases: +€6.5m
- Services and other goods +€5.3m
up €5.3m (+49.9%), from €10.5m to €15.8m
From the 2023 result to the 2024 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.
Result 2023
€1.8m
Turnover
+€13.5m
Other operating income
-€48,377
Goods and materials
-€6.5m
Services and other goods
-€5.3m
Staff costs
-€111,546
Depreciation
+€67,025
Write-downs
-€135,453
Provisions
-€200,000
Other operating charges
-€2,185
Other operating items
-€718,769
Financial income
+€63,828
Financial charges
-€11,429
Taxes
-€470,616
Result 2024
€2.0m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4.5m
Investment
-€1.7m
Financing
-€684,732
Cash 2023
€3.9m
From operations (derived)
+€4.5m
Net result for the year
+€2.0m
Depreciation
+€1.9m
Stocks and contracts
+€4,591
Receivables within one year
+€275,353
Deferred charges and accrued income
+€15,873
Provisions
+€200,000
Trade debts
-€104,531
Tax, wage and social debts
+€44,122
Advances received
+€513,024
Other debts
+€41,462
Accrued charges and deferred income
-€315,407
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€541,051
Current investments
-€1.2m
Financing
-€684,732
Debts after one year
-€184,954
Current portion of long-term debt
-€461,947
Contributions, distributions and other
-€37,832
Cash 2024
€6.0m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,711,133 | €15,366,133 | +€1.7m | +12.1% |
| Fixed assets | 21/28 | €6,996,806 | €5,663,593 | -€1.3m | -19.1% |
| Intangible fixed assets | 21 | €4,797,071 | €3,456,132 | -€1.3m | -28.0% |
| Tangible fixed assets | 22/27 | €2,190,134 | €2,203,861 | +€13,727 | +0.6% |
| Plant, machinery and equipment | 23 | €45,171 | €48,004 | +€2,834 | +6.3% |
| Furniture and vehicles | 24 | €1,193,796 | €1,484,338 | +€290,542 | +24.3% |
| Leasing and similar rights | 25 | €697,526 | €463,552 | -€233,974 | -33.5% |
| Other tangible fixed assets | 26 | €253,642 | €207,967 | -€45,675 | -18.0% |
| Financial fixed assets | 28 | €9,600 | €3,600 | -€6,000 | -62.5% |
| Other financial fixed assets | 284/8 | €9,600 | €3,600 | -€6,000 | -62.5% |
| Amounts receivable and cash guarantees | 285/8 | €9,600 | €3,600 | -€6,000 | -62.5% |
| Current assets | 29/58 | €6,714,327 | €9,702,540 | +€3.0m | +44.5% |
| Stocks and contracts in progress | 3 | €90,089 | €85,499 | -€4,591 | -5.1% |
| Stocks | 30/36 | €90,089 | €85,499 | -€4,591 | -5.1% |
| Goods purchased for resale | 34 | €90,089 | €85,499 | -€4,591 | -5.1% |
| Amounts receivable within one year | 40/41 | €1,232,076 | €956,722 | -€275,353 | -22.3% |
| Trade receivables | 40 | €691,348 | €245,172 | -€446,176 | -64.5% |
| Other amounts receivable | 41 | €540,728 | €711,550 | +€170,822 | +31.6% |
| Current investments | 50/53 | €1,350,781 | €2,536,609 | +€1.2m | +87.8% |
| Other investments | 51/53 | €1,350,781 | €2,536,609 | +€1.2m | +87.8% |
| Cash at bank and in hand | 54/58 | €3,877,273 | €5,975,474 | +€2.1m | +54.1% |
| Deferred charges and accrued income | 490/1 | €164,108 | €148,236 | -€15,873 | -9.7% |
| Total equity and liabilities | 10/49 | €13,711,133 | €15,366,133 | +€1.7m | +12.1% |
| Equity | 10/15 | €7,096,118 | €9,019,349 | +€1.9m | +27.1% |
| Contributions | 10/11 | €5,942,542 | €5,942,542 | = | 0.0% |
| Capital | 10 | €5,942,542 | €5,942,542 | = | 0.0% |
| Issued capital | 100 | €5,942,542 | €5,942,542 | = | 0.0% |
| Reserves | 13 | €108,710 | €206,763 | +€98,053 | +90.2% |
| Non-distributable reserves | 130/1 | €108,710 | €206,763 | +€98,053 | +90.2% |
| Legal reserve | 130 | €108,710 | €206,763 | +€98,053 | +90.2% |
| Profit (loss) carried forward | 14 | €1,044,866 | €2,870,044 | +€1.8m | +174.7% |
| Provisions and deferred taxes | 16 | - | €200,000 | +€200,000 | |
| Provisions for liabilities and charges | 160/5 | - | €200,000 | +€200,000 | |
| Other liabilities and charges | 164/5 | - | €200,000 | +€200,000 | |
| Amounts payable | 17/49 | €6,615,015 | €6,146,784 | -€468,231 | -7.1% |
| Amounts payable after more than one year | 17 | €636,011 | €451,057 | -€184,954 | -29.1% |
| Financial debts | 170/4 | €636,011 | €451,057 | -€184,954 | -29.1% |
| Leasing and similar obligations | 172 | €636,011 | €451,057 | -€184,954 | -29.1% |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €5,211,584 | €5,243,714 | +€32,130 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €646,185 | €184,239 | -€461,947 | -71.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,309,791 | €4,205,260 | -€104,531 | -2.4% |
| Suppliers | 440/4 | €4,309,791 | €4,205,260 | -€104,531 | -2.4% |
| Advances received on contracts in progress | 46 | - | €513,024 | +€513,024 | |
| Taxes, remuneration and social security | 45 | €255,607 | €299,729 | +€44,122 | +17.3% |
| Taxes | 450/3 | €3,656 | €29,511 | +€25,856 | +707.3% |
| Remuneration and social security | 454/9 | €251,952 | €270,218 | +€18,266 | +7.2% |
| Other amounts payable | 47/48 | - | €41,462 | +€41,462 | |
| Accrued charges and deferred income | 492/3 | €767,420 | €452,013 | -€315,407 | -41.1% |
| Operating income | 70/76A | €37,066,765 | €50,528,838 | +€13.5m | +36.3% |
| Turnover | 70 | €36,868,030 | €50,382,434 | +€13.5m | +36.7% |
| Other operating income | 74 | €178,968 | €130,590 | -€48,377 | -27.0% |
| Non-recurring operating income | 76A | €19,767 | €15,813 | -€3,954 | -20.0% |
| Operating charges | 60/66A | €34,580,982 | €47,423,155 | +€12.8m | +37.1% |
| Goods for resale, raw materials and consumables | 60 | €19,210,110 | €25,691,746 | +€6.5m | +33.7% |
| Purchases | 600/8 | €19,161,122 | €25,687,156 | +€6.5m | +34.1% |
| Change in stocks: decrease (increase) | 609 | €48,988 | €4,591 | -€44,398 | -90.6% |
| Services and other goods | 61 | €10,542,593 | €15,806,155 | +€5.3m | +49.9% |
| Remuneration, social security and pensions | 62 | €2,420,593 | €2,532,139 | +€111,546 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,941,288 | €1,874,264 | -€67,025 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €81,109 | €216,562 | +€135,453 | +167.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €200,000 | +€200,000 | |
| Other operating charges | 640/8 | €20,553 | €22,738 | +€2,185 | +10.6% |
| Non-recurring operating charges | 66A | €364,735 | €1,079,550 | +€714,816 | +196.0% |
| Operating profit (loss) | 9901 | €2,485,782 | €3,105,683 | +€619,900 | +24.9% |
| Financial income | 75/76B | €1,994 | €65,822 | +€63,828 | +3200.7% |
| Recurring financial income | 75 | €1,994 | €65,822 | +€63,828 | +3200.7% |
| Income from current assets | 751 | €1,115 | €63,851 | +€62,736 | +5626.0% |
| Other financial income | 752/9 | €879 | €1,970 | +€1,091 | +124.1% |
| Financial charges | 65/66B | €243,369 | €254,799 | +€11,429 | +4.7% |
| Recurring financial charges | 65 | €243,369 | €254,799 | +€11,429 | +4.7% |
| Debt charges | 650 | €48,817 | €29,936 | -€18,881 | -38.7% |
| Other financial charges | 652/9 | €194,553 | €224,863 | +€30,310 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €2,244,407 | €2,916,706 | +€672,298 | +30.0% |
| Income taxes | 67/77 | €485,027 | €955,643 | +€470,616 | +97.0% |
| Taxes | 670/3 | €485,027 | €955,643 | +€470,616 | +97.0% |
| Profit (loss) for the period | 9904 | €1,759,380 | €1,961,063 | +€201,683 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,759,380 | €1,961,063 | +€201,683 | +11.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.