Smartmatic Belgium: 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.
Smartmatic Belgium
Largest movements
- Receivables within one year -€2.7m
down €2.7m (-76.6%), from €3.6m to €832,629
of which Other amounts receivable: -€2.3m
- Cash -€366,114
down €366,114 (-89.1%), from €410,898 to €44,785
mainly Other debts (-€3.2m) and Trade debts (-€189,985)
- Deferred charges and accrued income -€166,161
down €166,161 (-98.3%), from €168,971 to €2,810
- Other debts -€3.2m
down €3.2m (-100%), from €3.2m to €0
- Trade debts -€189,985
down €189,985 (-75.6%), from €251,439 to €61,455
- Accrued charges and deferred income +€71,291
up €71,291 (+4,075%), from €1,750 to €73,040
- Profit (loss) carried forward +€55,115
up €55,115 (+10.9%), from €503,707 to €558,822
- Gross operating margin -€172,000
down €172,000 (-27.6%), from €623,963 to €451,964
- Taxes -€111,247
down €111,247 (-84.8%), from €131,126 to €19,879
- Staff costs -€76,496
down €76,496 (-50.0%), from €152,984 to €76,488
- Financial charges +€15,865
up €15,865 (+373%), from €4,250 to €20,115
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.
Derived cash bridge
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 | €4,142,308 | €880,546 | -€3.3m | -78.7% |
| Fixed assets | 21/28 | €926 | €323 | -€604 | -65.2% |
| Tangible fixed assets | 22/27 | €693 | €89 | -€604 | -87.1% |
| Plant, machinery and equipment | 23 | €693 | €89 | -€604 | -87.1% |
| Financial fixed assets | 28 | €233 | €233 | = | 0.0% |
| Current assets | 29/58 | €4,141,381 | €880,223 | -€3.3m | -78.7% |
| Amounts receivable within one year | 40/41 | €3,561,512 | €832,629 | -€2.7m | -76.6% |
| Trade receivables | 40 | €511,008 | €67,018 | -€443,990 | -86.9% |
| Other amounts receivable | 41 | €3,050,505 | €765,611 | -€2.3m | -74.9% |
| Cash at bank and in hand | 54/58 | €410,898 | €44,785 | -€366,114 | -89.1% |
| Deferred charges and accrued income | 490/1 | €168,971 | €2,810 | -€166,161 | -98.3% |
| Total equity and liabilities | 10/49 | €4,142,308 | €880,546 | -€3.3m | -78.7% |
| Equity | 10/15 | €524,112 | €579,227 | +€55,115 | +10.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €503,707 | €558,822 | +€55,115 | +10.9% |
| Amounts payable | 17/49 | €3,618,196 | €301,319 | -€3.3m | -91.7% |
| Amounts payable within one year | 42/48 | €3,616,446 | €228,279 | -€3.4m | -93.7% |
| Trade debts | 44 | €251,439 | €61,455 | -€189,985 | -75.6% |
| Suppliers | 440/4 | €251,439 | €61,455 | -€189,985 | -75.6% |
| Taxes, remuneration and social security | 45 | €160,505 | €166,824 | +€6,320 | +3.9% |
| Taxes | 450/3 | €137,023 | €154,000 | +€16,977 | +12.4% |
| Remuneration and social security | 454/9 | €23,482 | €12,825 | -€10,657 | -45.4% |
| Other amounts payable | 47/48 | €3,204,502 | €0 | -€3.2m | -100% |
| Accrued charges and deferred income | 492/3 | €1,750 | €73,040 | +€71,291 | +4,075% |
| Non-recurring operating income | 76A | €63 | €0 | -€63 | -100% |
| Remuneration, social security and pensions | 62 | €152,984 | €76,488 | -€76,496 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €604 | €604 | = | 0.0% |
| Other operating charges | 640/8 | €726 | €631 | -€94 | -13.0% |
| Non-recurring operating charges | 66A | - | €279,132 | +€279,132 | |
| Gross operating margin | 9900 | €623,963 | €451,964 | -€172,000 | -27.6% |
| Operating profit (loss) | 9901 | €469,650 | €95,109 | -€374,541 | -79.7% |
| Financial income | 75/76B | €2,057 | €0 | -€2,057 | -100.0% |
| Recurring financial income | 75 | €2,057 | €0 | -€2,057 | -100.0% |
| Financial charges | 65/66B | €4,250 | €20,115 | +€15,865 | +373% |
| Recurring financial charges | 65 | €4,250 | €20,115 | +€15,865 | +373% |
| Profit (loss) for the period before taxes | 9903 | €467,457 | €74,994 | -€392,463 | -84.0% |
| Income taxes | 67/77 | €131,126 | €19,879 | -€111,247 | -84.8% |
| Profit (loss) for the period | 9904 | €336,331 | €55,115 | -€281,217 | -83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €336,331 | €55,115 | -€281,217 | -83.6% |
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 28 October 2026 via checked.be.