Smarts Analytics: 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.
Smarts Analytics
Largest movements
- Receivables within one year +€88,056
up €88,056 (+57.4%), from €153,333 to €241,389
of which Trade receivables: +€62,973
- Deferred charges and accrued income +€39,011
up €39,011 (+11043.2%), from €353 to €39,365
- Tangible fixed assets +€20,542
up €20,542 (+457.8%), from €4,487 to €25,030
of which Furniture and vehicles: +€21,307
- Cash +€9,848
up €9,848 (+324.1%), from €3,039 to €12,887
mainly Trade debts (+€131,272) and Tax, wage and social debts (+€49,141)
- Stocks and contracts +€5,500
new in 2025: €5,500
- Trade debts +€131,272
up €131,272 (+277.1%), from €47,365 to €178,637
of which Suppliers: +€148,038
- Tax, wage and social debts +€49,141
up €49,141 (+385.6%), from €12,743 to €61,884
- Advances received -€34,138
down €34,138 (-57.1%), from €59,816 to €25,678
- Debts after one year +€22,000
new in 2025: €22,000
- Other debts -€16,000
no longer reported in 2025 (was €16,000)
- Other operating charges +€17,690
up €17,690 (+1114.3%), from €1,588 to €19,278
- Staff costs -€15,397
down €15,397 (-95.2%), from €16,169 to €772
- Depreciation -€3,987
down €3,987 (-46.5%), from €8,570 to €4,583
- Gross operating margin -€1,935
down €1,935 (-3.7%), from €51,701 to €49,766
- Financial charges +€1,249
up €1,249 (+338.5%), from €369 to €1,618
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 | €161,212 | €324,170 | +€162,957 | +101.1% |
| Fixed assets | 21/28 | €4,487 | €25,030 | +€20,542 | +457.8% |
| Tangible fixed assets | 22/27 | €4,487 | €25,030 | +€20,542 | +457.8% |
| Plant, machinery and equipment | 23 | €3,168 | €2,404 | -€764 | -24.1% |
| Furniture and vehicles | 24 | €1,319 | €22,626 | +€21,307 | +1614.8% |
| Current assets | 29/58 | €156,725 | €299,140 | +€142,415 | +90.9% |
| Stocks and contracts in progress | 3 | - | €5,500 | +€5,500 | |
| Stocks | 30/36 | - | €5,500 | +€5,500 | |
| Amounts receivable within one year | 40/41 | €153,333 | €241,389 | +€88,056 | +57.4% |
| Trade receivables | 40 | €129,852 | €192,826 | +€62,973 | +48.5% |
| Other amounts receivable | 41 | €23,480 | €48,563 | +€25,083 | +106.8% |
| Cash at bank and in hand | 54/58 | €3,039 | €12,887 | +€9,848 | +324.1% |
| Deferred charges and accrued income | 490/1 | €353 | €39,365 | +€39,011 | +11043.2% |
| Total equity and liabilities | 10/49 | €161,212 | €324,170 | +€162,957 | +101.1% |
| Equity | 10/15 | €25,288 | €31,565 | +€6,277 | +24.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,088 | €25,365 | +€6,277 | +32.9% |
| Amounts payable | 17/49 | €135,924 | €292,605 | +€156,681 | +115.3% |
| Amounts payable after more than one year | 17 | - | €22,000 | +€22,000 | |
| Other amounts payable | 178/9 | - | €22,000 | +€22,000 | |
| Amounts payable within one year | 42/48 | €135,924 | €266,200 | +€130,276 | +95.8% |
| Trade debts | 44 | €47,365 | €178,637 | +€131,272 | +277.1% |
| Suppliers | 440/4 | €30,599 | €178,637 | +€148,038 | +483.8% |
| Bills of exchange payable | 441 | €16,766 | - | -€16,766 | |
| Advances received on contracts in progress | 46 | €59,816 | €25,678 | -€34,138 | -57.1% |
| Taxes, remuneration and social security | 45 | €12,743 | €61,884 | +€49,141 | +385.6% |
| Taxes | 450/3 | €12,743 | €61,884 | +€49,141 | +385.6% |
| Other amounts payable | 47/48 | €16,000 | - | -€16,000 | |
| Accrued charges and deferred income | 492/3 | - | €4,405 | +€4,405 | |
| Remuneration, social security and pensions | 62 | €16,169 | €772 | -€15,397 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,570 | €4,583 | -€3,987 | -46.5% |
| Other operating charges | 640/8 | €1,588 | €19,278 | +€17,690 | +1114.3% |
| Gross operating margin | 9900 | €51,701 | €49,766 | -€1,935 | -3.7% |
| Operating profit (loss) | 9901 | €25,374 | €25,134 | -€241 | -0.9% |
| Financial income | 75/76B | €47 | €81 | +€35 | +74.1% |
| Recurring financial income | 75 | €47 | €81 | +€35 | +74.1% |
| Financial charges | 65/66B | €369 | €1,618 | +€1,249 | +338.5% |
| Recurring financial charges | 65 | €369 | €1,618 | +€1,249 | +338.5% |
| Profit (loss) for the period before taxes | 9903 | €25,052 | €23,597 | -€1,455 | -5.8% |
| Income taxes | 67/77 | €3,266 | €3,320 | +€54 | +1.7% |
| Profit (loss) for the period | 9904 | €21,786 | €20,277 | -€1,509 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,786 | €20,277 | -€1,509 | -6.9% |
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 8 October 2026 via checked.be.