SMARTPARTNERS: 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.
SMARTPARTNERS
Largest movements
- Receivables within one year +€46,819
up €46,819 (+49.4%), from €94,782 to €141,601
of which Other amounts receivable: +€44,034
- Cash +€18,346
up €18,346 (+262.5%), from €6,990 to €25,336
mainly Other debts (+€120,000) and Net result for the year (+€45,270)
- Tangible fixed assets -€15,798
down €15,798 (-38.8%), from €40,692 to €24,894
- Other debts +€120,000
new in 2025: €120,000
- Profit (loss) carried forward -€95,907
down €95,907 (-95.8%), from €100,094 to €4,187
- Tax, wage and social debts +€24,650
up €24,650 (+120.0%), from €20,548 to €45,199
- Gross operating margin -€9,376
down €9,376 (-11.3%), from €83,181 to €73,805
- Depreciation +€7,505
up €7,505 (+90.5%), from €8,293 to €15,798
- Taxes -€4,075
down €4,075 (-24.6%), from €16,548 to €12,474
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 | €142,464 | €191,831 | +€49,367 | +34.7% |
| Fixed assets | 21/28 | €40,692 | €24,894 | -€15,798 | -38.8% |
| Tangible fixed assets | 22/27 | €40,692 | €24,894 | -€15,798 | -38.8% |
| Furniture and vehicles | 24 | €40,692 | €24,894 | -€15,798 | -38.8% |
| Current assets | 29/58 | €101,772 | €166,937 | +€65,165 | +64.0% |
| Amounts receivable within one year | 40/41 | €94,782 | €141,601 | +€46,819 | +49.4% |
| Trade receivables | 40 | €50,950 | €53,735 | +€2,785 | +5.5% |
| Other amounts receivable | 41 | €43,832 | €87,866 | +€44,034 | +100.5% |
| Cash at bank and in hand | 54/58 | €6,990 | €25,336 | +€18,346 | +262.5% |
| Total equity and liabilities | 10/49 | €142,464 | €191,831 | +€49,367 | +34.7% |
| Equity | 10/15 | €120,554 | €24,647 | -€95,907 | -79.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,094 | €4,187 | -€95,907 | -95.8% |
| Amounts payable | 17/49 | €21,910 | €167,184 | +€145,274 | +663.0% |
| Amounts payable within one year | 42/48 | €21,910 | €167,184 | +€145,274 | +663.0% |
| Trade debts | 44 | €1,362 | €1,985 | +€624 | +45.8% |
| Suppliers | 440/4 | €1,362 | €1,985 | +€624 | +45.8% |
| Taxes, remuneration and social security | 45 | €20,548 | €45,199 | +€24,650 | +120.0% |
| Taxes | 450/3 | €20,548 | €45,199 | +€24,650 | +120.0% |
| Other amounts payable | 47/48 | - | €120,000 | +€120,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,293 | €15,798 | +€7,505 | +90.5% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €83,181 | €73,805 | -€9,376 | -11.3% |
| Operating profit (loss) | 9901 | €74,501 | €58,007 | -€16,494 | -22.1% |
| Financial charges | 65/66B | €54 | €263 | +€210 | +389.1% |
| Recurring financial charges | 65 | €54 | €263 | +€210 | +389.1% |
| Profit (loss) for the period before taxes | 9903 | €74,447 | €57,743 | -€16,703 | -22.4% |
| Income taxes | 67/77 | €16,548 | €12,474 | -€4,075 | -24.6% |
| Profit (loss) for the period | 9904 | €57,898 | €45,270 | -€12,629 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €57,898 | €45,270 | -€12,629 | -21.8% |
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 4 October 2026 via checked.be.