SMARTREFLEX: 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.
SMARTREFLEX
Largest movements
- Cash -€33,242
down €33,242 (-45.2%), from €73,493 to €40,251
mainly Other debts (-€49,310) and Net result for the year (-€11,633)
- Current investments -€22,026
down €22,026 (-8.0%), from €275,025 to €252,999
- Receivables within one year -€14,131
down €14,131 (-92.3%), from €15,303 to €1,172
of which Trade receivables: -€14,118
- Other debts -€49,310
down €49,310 (-25.1%), from €196,689 to €147,379
- Profit (loss) carried forward -€11,633
down €11,633 (-33.9%), from €34,299 to €22,667
- Accrued charges and deferred income -€5,746
down €5,746 (-96.6%), from €5,946 to €200
- Gross operating margin -€74,068
down €74,068, from €43,579 to -€30,489
- Financial income +€18,989
up €18,989 (+973.0%), from €1,952 to €20,941
- Taxes -€10,359
down €10,359 (-97.1%), from €10,668 to €309
- Financial charges -€5,856
down €5,856 (-98.8%), from €5,928 to €72
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 | €368,908 | €298,565 | -€70,343 | -19.1% |
| Fixed assets | 21/28 | €2,537 | €1,820 | -€717 | -28.3% |
| Tangible fixed assets | 22/27 | €2,537 | €1,820 | -€717 | -28.3% |
| Furniture and vehicles | 24 | €2,537 | €1,820 | -€717 | -28.3% |
| Current assets | 29/58 | €366,372 | €296,745 | -€69,627 | -19.0% |
| Amounts receivable within one year | 40/41 | €15,303 | €1,172 | -€14,131 | -92.3% |
| Trade receivables | 40 | €14,399 | €281 | -€14,118 | -98.0% |
| Other amounts receivable | 41 | €904 | €891 | -€13 | -1.5% |
| Current investments | 50/53 | €275,025 | €252,999 | -€22,026 | -8.0% |
| Cash at bank and in hand | 54/58 | €73,493 | €40,251 | -€33,242 | -45.2% |
| Deferred charges and accrued income | 490/1 | €2,550 | €2,323 | -€227 | -8.9% |
| Total equity and liabilities | 10/49 | €368,908 | €298,565 | -€70,343 | -19.1% |
| Equity | 10/15 | €161,800 | €150,168 | -€11,633 | -7.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €121,301 | €121,301 | = | 0.0% |
| Tax-exempt reserves | 132 | €141 | €141 | = | 0.0% |
| Distributable reserves | 133 | €121,160 | €121,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,299 | €22,667 | -€11,633 | -33.9% |
| Amounts payable | 17/49 | €207,108 | €148,397 | -€58,711 | -28.3% |
| Amounts payable within one year | 42/48 | €201,162 | €148,197 | -€52,965 | -26.3% |
| Trade debts | 44 | €1,369 | €819 | -€550 | -40.2% |
| Suppliers | 440/4 | €1,369 | €819 | -€550 | -40.2% |
| Taxes, remuneration and social security | 45 | €3,104 | €0 | -€3,104 | -100.0% |
| Taxes | 450/3 | €3,104 | €0 | -€3,104 | -100.0% |
| Other amounts payable | 47/48 | €196,689 | €147,379 | -€49,310 | -25.1% |
| Accrued charges and deferred income | 492/3 | €5,946 | €200 | -€5,746 | -96.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816 | €717 | -€100 | -12.2% |
| Other operating charges | 640/8 | €803 | €986 | +€183 | +22.8% |
| Gross operating margin | 9900 | €43,579 | -€30,489 | -€74,068 | |
| Operating profit (loss) | 9901 | €41,960 | -€32,192 | -€74,152 | |
| Financial income | 75/76B | €1,952 | €20,941 | +€18,989 | +973.0% |
| Recurring financial income | 75 | €1,952 | €20,941 | +€18,989 | +973.0% |
| Financial charges | 65/66B | €5,928 | €72 | -€5,856 | -98.8% |
| Recurring financial charges | 65 | €5,928 | €72 | -€5,856 | -98.8% |
| Profit (loss) for the period before taxes | 9903 | €37,983 | -€11,323 | -€49,306 | |
| Income taxes | 67/77 | €10,668 | €309 | -€10,359 | -97.1% |
| Profit (loss) for the period | 9904 | €27,315 | -€11,633 | -€38,947 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,315 | -€11,633 | -€38,947 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.