SMARTSECURE: 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.
SMARTSECURE
Largest movements
- Receivables within one year -€103,196
down €103,196 (-27.7%), from €372,038 to €268,843
of which Other amounts receivable: -€105,383
- Intangible fixed assets +€21,770
new in 2025: €21,770
- Tangible fixed assets +€17,794
up €17,794 (+392.0%), from €4,540 to €22,334
of which Furniture and vehicles: +€13,334
- Stocks and contracts +€10,450
new in 2025: €10,450
- Cash +€10,201
up €10,201 (+175.5%), from €5,811 to €16,011
mainly Receivables within one year (+€103,196) and Trade debts (+€27,609)
- Tax, wage and social debts -€70,770
down €70,770 (-27.5%), from €257,687 to €186,917
of which Remuneration and social security: -€135,010
- Trade debts +€27,609
up €27,609 (+58.1%), from €47,545 to €75,153
- Gross operating margin -€35,638
down €35,638 (-11.0%), from €322,565 to €286,926
- Taxes -€15,073
down €15,073 (-95.5%), from €15,785 to €713
- Staff costs +€10,455
up €10,455 (+4.0%), from €264,138 to €274,592
- Depreciation +€10,276
up €10,276 (+2232.5%), from €460 to €10,736
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 | €382,421 | €340,386 | -€42,035 | -11.0% |
| Fixed assets | 21/28 | €4,540 | €44,104 | +€39,564 | +871.5% |
| Intangible fixed assets | 21 | - | €21,770 | +€21,770 | |
| Tangible fixed assets | 22/27 | €4,540 | €22,334 | +€17,794 | +392.0% |
| Plant, machinery and equipment | 23 | €4,540 | €9,000 | +€4,460 | +98.2% |
| Furniture and vehicles | 24 | - | €13,334 | +€13,334 | |
| Current assets | 29/58 | €377,881 | €296,282 | -€81,599 | -21.6% |
| Stocks and contracts in progress | 3 | - | €10,450 | +€10,450 | |
| Stocks | 30/36 | - | €10,450 | +€10,450 | |
| Amounts receivable within one year | 40/41 | €372,038 | €268,843 | -€103,196 | -27.7% |
| Trade receivables | 40 | €46,423 | €48,610 | +€2,187 | +4.7% |
| Other amounts receivable | 41 | €325,615 | €220,233 | -€105,383 | -32.4% |
| Cash at bank and in hand | 54/58 | €5,811 | €16,011 | +€10,201 | +175.5% |
| Deferred charges and accrued income | 490/1 | €32 | €979 | +€946 | +2920.2% |
| Total equity and liabilities | 10/49 | €382,421 | €340,386 | -€42,035 | -11.0% |
| Equity | 10/15 | €76,842 | €77,122 | +€280 | +0.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €960 | €960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €960 | €960 | = | 0.0% |
| Reserves not available under the articles | 1311 | €960 | €960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,882 | €51,162 | +€280 | +0.5% |
| Amounts payable | 17/49 | €305,579 | €263,265 | -€42,314 | -13.8% |
| Amounts payable within one year | 42/48 | €305,232 | €262,917 | -€42,314 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | - | €847 | +€847 | |
| Trade debts | 44 | €47,545 | €75,153 | +€27,609 | +58.1% |
| Suppliers | 440/4 | €47,545 | €75,153 | +€27,609 | +58.1% |
| Taxes, remuneration and social security | 45 | €257,687 | €186,917 | -€70,770 | -27.5% |
| Taxes | 450/3 | €84,058 | €148,297 | +€64,239 | +76.4% |
| Remuneration and social security | 454/9 | €173,629 | €38,620 | -€135,010 | -77.8% |
| Accrued charges and deferred income | 492/3 | €348 | €348 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €264,138 | €274,592 | +€10,455 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €460 | €10,736 | +€10,276 | +2232.5% |
| Other operating charges | 640/8 | - | €300 | +€300 | |
| Gross operating margin | 9900 | €322,565 | €286,926 | -€35,638 | -11.0% |
| Operating profit (loss) | 9901 | €57,967 | €1,298 | -€56,669 | -97.8% |
| Financial charges | 65/66B | €39 | €306 | +€267 | +685.2% |
| Recurring financial charges | 65 | €39 | €306 | +€267 | +685.2% |
| Profit (loss) for the period before taxes | 9903 | €57,928 | €992 | -€56,936 | -98.3% |
| Income taxes | 67/77 | €15,785 | €713 | -€15,073 | -95.5% |
| Profit (loss) for the period | 9904 | €42,142 | €280 | -€41,863 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,142 | €280 | -€41,863 | -99.3% |
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.