Smartspace: what changed
What changed
Smartspace
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€39,759
2024 · €55,800-€16,040
Equity
€172,652
2024 · €132,893+€39,759
Cash
€47,044
2024 · €91,774-€44,730
Balance sheet total
€1.8m
2024 · €1.9m-€73,946
Largest movements
Assets
- Tangible fixed assets -€73,853
down €73,853 (-4.2%), from €1.8m to €1.7m
of which Land and buildings: -€67,689
- Cash -€44,730
down €44,730 (-48.7%), from €91,774 to €47,044
mainly Debts after one year (-€100,000) and Receivables within one year (-€39,808)
- Receivables within one year +€39,808
up €39,808 (+77.2%), from €51,537 to €91,345
of which Other amounts receivable: +€45,543
Equity and liabilities
- Debts after one year -€100,000
down €100,000 (-6.4%), from €1.6m to €1.5m
- Reserves +€39,759
up €39,759 (+34.8%), from €114,293 to €154,052
Income statement
- Gross operating margin -€52,967
down €52,967 (-17.3%), from €305,802 to €252,835
- Financial charges -€22,690
down €22,690 (-30.0%), from €75,718 to €53,029
- Other operating charges -€17,660
down €17,660 (-23.3%), from €75,800 to €58,139
- Write-downs +€15,773
up €15,773, from -€9,591 to €6,182
- Taxes -€5,897
down €5,897 (-30.9%), from €19,062 to €13,166
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€55,800
Gross operating margin
-€52,967
Depreciation
+€5,485
Write-downs
-€15,773
Other operating charges
+€17,660
Financial income
+€969
Financial charges
+€22,690
Taxes
+€5,897
Result 2025
€39,759
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€65,352
Investment
-€10,083
Financing
-€100,000
Cash 2024
€91,774
From operations (derived)
+€65,352
Net result for the year
+€39,759
Depreciation
+€83,535
Receivables within one year
-€39,808
Deferred charges and accrued income
-€4,429
Trade debts
-€18,874
Tax, wage and social debts
+€265
Other debts
+€4,903
Investment (derived)
-€10,083
Investment in fixed assets (net)
-€10,083
Financing
-€100,000
Debts after one year
-€100,000
Cash 2025
€47,044
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,906,729 | €1,832,783 | -€73,946 | -3.9% |
| Fixed assets | 21/28 | €1,761,780 | €1,688,327 | -€73,453 | -4.2% |
| Tangible fixed assets | 22/27 | €1,761,380 | €1,687,527 | -€73,853 | -4.2% |
| Land and buildings | 22 | €1,735,385 | €1,667,697 | -€67,689 | -3.9% |
| Plant, machinery and equipment | 23 | €9,433 | €8,430 | -€1,002 | -10.6% |
| Furniture and vehicles | 24 | €16,562 | €11,400 | -€5,162 | -31.2% |
| Financial fixed assets | 28 | €400 | €800 | +€400 | +100% |
| Current assets | 29/58 | €144,949 | €144,456 | -€493 | -0.3% |
| Amounts receivable within one year | 40/41 | €51,537 | €91,345 | +€39,808 | +77.2% |
| Trade receivables | 40 | €45,030 | €39,295 | -€5,735 | -12.7% |
| Other amounts receivable | 41 | €6,507 | €52,051 | +€45,543 | +700% |
| Cash at bank and in hand | 54/58 | €91,774 | €47,044 | -€44,730 | -48.7% |
| Deferred charges and accrued income | 490/1 | €1,638 | €6,067 | +€4,429 | +270% |
| Total equity and liabilities | 10/49 | €1,906,729 | €1,832,783 | -€73,946 | -3.9% |
| Equity | 10/15 | €132,893 | €172,652 | +€39,759 | +29.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,293 | €154,052 | +€39,759 | +34.8% |
| Distributable reserves | 133 | €114,293 | €154,052 | +€39,759 | +34.8% |
| Amounts payable | 17/49 | €1,773,836 | €1,660,131 | -€113,705 | -6.4% |
| Amounts payable after more than one year | 17 | €1,558,334 | €1,458,334 | -€100,000 | -6.4% |
| Financial debts | 170/4 | €1,558,334 | €1,458,334 | -€100,000 | -6.4% |
| Amounts payable within one year | 42/48 | €215,503 | €201,798 | -€13,705 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €64,024 | €45,150 | -€18,874 | -29.5% |
| Suppliers | 440/4 | €64,024 | €45,150 | -€18,874 | -29.5% |
| Taxes, remuneration and social security | 45 | €6,152 | €6,418 | +€265 | +4.3% |
| Taxes | 450/3 | €6,152 | €6,418 | +€265 | +4.3% |
| Other amounts payable | 47/48 | €45,327 | €50,230 | +€4,903 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,021 | €83,535 | -€5,485 | -6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,591 | €6,182 | +€15,773 | |
| Other operating charges | 640/8 | €75,800 | €58,139 | -€17,660 | -23.3% |
| Gross operating margin | 9900 | €305,802 | €252,835 | -€52,967 | -17.3% |
| Operating profit (loss) | 9901 | €150,573 | €104,978 | -€45,595 | -30.3% |
| Financial income | 75/76B | €7 | €976 | +€969 | +13,000% |
| Recurring financial income | 75 | €7 | €976 | +€969 | +13,000% |
| Non-recurring financial income | 76B | €7 | - | -€7 | |
| Financial charges | 65/66B | €75,718 | €53,029 | -€22,690 | -30.0% |
| Recurring financial charges | 65 | €75,718 | €53,029 | -€22,690 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €74,862 | €52,925 | -€21,937 | -29.3% |
| Income taxes | 67/77 | €19,062 | €13,166 | -€5,897 | -30.9% |
| Profit (loss) for the period | 9904 | €55,800 | €39,759 | -€16,040 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,800 | €39,759 | -€16,040 | -28.7% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.