SMARTSHIP: 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.
SMARTSHIP
Largest movements
- Tangible fixed assets -€24,523
down €24,523 (-42.7%), from €57,427 to €32,903
of which Plant, machinery and equipment: -€24,116
- Receivables within one year -€23,879
down €23,879 (-28.0%), from €85,209 to €61,331
of which Trade receivables: -€47,520
- Cash +€16,508
up €16,508 (+212%), from €7,796 to €24,304
mainly Receivables within one year (+€23,879) and Depreciation (+€17,828)
- Trade debts -€24,092
down €24,092 (-82.5%), from €29,207 to €5,114
- Reserves -€7,146
down €7,146 (-6.7%), from €106,137 to €98,991
- Gross operating margin -€7,719
down €7,719 (-23.8%), from €32,449 to €24,730
- Depreciation -€5,407
down €5,407 (-23.3%), from €23,235 to €17,828
- Staff costs -€2,727
down €2,727 (-66.0%), from €4,134 to €1,407
- Financial charges +€776
up €776 (+185%), from €420 to €1,195
- Other operating charges -€378
down €378 (-26.3%), from €1,438 to €1,060
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 | €151,380 | €120,587 | -€30,793 | -20.3% |
| Fixed assets | 21/28 | €57,679 | €32,903 | -€24,776 | -43.0% |
| Intangible fixed assets | 21 | €252 | €0 | -€252 | -100% |
| Tangible fixed assets | 22/27 | €57,427 | €32,903 | -€24,523 | -42.7% |
| Plant, machinery and equipment | 23 | €57,019 | €32,903 | -€24,116 | -42.3% |
| Furniture and vehicles | 24 | €408 | €0 | -€408 | -100% |
| Current assets | 29/58 | €93,701 | €87,684 | -€6,017 | -6.4% |
| Amounts receivable within one year | 40/41 | €85,209 | €61,331 | -€23,879 | -28.0% |
| Trade receivables | 40 | €61,893 | €14,372 | -€47,520 | -76.8% |
| Other amounts receivable | 41 | €23,317 | €46,958 | +€23,642 | +101% |
| Cash at bank and in hand | 54/58 | €7,796 | €24,304 | +€16,508 | +212% |
| Deferred charges and accrued income | 490/1 | €696 | €2,050 | +€1,354 | +195% |
| Total equity and liabilities | 10/49 | €151,380 | €120,587 | -€30,793 | -20.3% |
| Equity | 10/15 | €108,637 | €101,491 | -€7,146 | -6.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €106,137 | €98,991 | -€7,146 | -6.7% |
| Distributable reserves | 133 | €106,137 | €98,991 | -€7,146 | -6.7% |
| Amounts payable | 17/49 | €42,743 | €19,096 | -€23,647 | -55.3% |
| Amounts payable within one year | 42/48 | €42,672 | €19,096 | -€23,576 | -55.2% |
| Trade debts | 44 | €29,207 | €5,114 | -€24,092 | -82.5% |
| Suppliers | 440/4 | €29,207 | €5,114 | -€24,092 | -82.5% |
| Taxes, remuneration and social security | 45 | €13,465 | €13,363 | -€102 | -0.8% |
| Taxes | 450/3 | €13,465 | €10,350 | -€3,116 | -23.1% |
| Remuneration and social security | 454/9 | - | €3,014 | +€3,014 | |
| Other amounts payable | 47/48 | - | €618 | +€618 | |
| Accrued charges and deferred income | 492/3 | €71 | €0 | -€71 | -100% |
| Non-recurring operating income | 76A | €13,749 | €0 | -€13,749 | -100% |
| Remuneration, social security and pensions | 62 | €4,134 | €1,407 | -€2,727 | -66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,235 | €17,828 | -€5,407 | -23.3% |
| Other operating charges | 640/8 | €1,438 | €1,060 | -€378 | -26.3% |
| Non-recurring operating charges | 66A | €7,080 | €11,909 | +€4,828 | +68.2% |
| Gross operating margin | 9900 | €32,449 | €24,730 | -€7,719 | -23.8% |
| Operating profit (loss) | 9901 | -€3,439 | -€7,474 | -€4,035 | -117% |
| Financial income | 75/76B | €1,796 | €1,523 | -€273 | -15.2% |
| Recurring financial income | 75 | €1,796 | €1,523 | -€273 | -15.2% |
| Financial charges | 65/66B | €420 | €1,195 | +€776 | +185% |
| Recurring financial charges | 65 | €420 | €1,195 | +€776 | +185% |
| Profit (loss) for the period before taxes | 9903 | -€2,062 | -€7,146 | -€5,084 | -246% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,062 | -€7,146 | -€5,084 | -246% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,062 | -€7,146 | -€5,084 | -246% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.