SmartTax: 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.
SmartTax
Largest movements
- Receivables within one year +€58,821
up €58,821 (+17.7%), from €331,574 to €390,395
of which Trade receivables: +€58,149
- Cash +€35,069
up €35,069 (+15.8%), from €222,164 to €257,233
- Intangible fixed assets -€32,473
down €32,473 (-13.4%), from €241,819 to €209,345
- Tangible fixed assets -€12,784
down €12,784 (-6.5%), from €196,885 to €184,101
of which Land and buildings: -€20,121
- Debts after one year -€127,668
down €127,668 (-22.8%), from €559,886 to €432,218
- Trade debts +€93,167
up €93,167 (+1893.4%), from €4,921 to €98,088
- Current portion of long-term debt +€47,048
up €47,048 (+71.1%), from €66,136 to €113,183
- Other debts +€31,308
up €31,308 (+25.0%), from €125,436 to €156,743
- Gross operating margin +€217,037
up €217,037 (+39.2%), from €554,140 to €771,177
- Staff costs +€139,494
up €139,494 (+47.3%), from €295,128 to €434,622
- Other operating charges +€28,167
up €28,167 (+111.1%), from €25,360 to €53,527
- Depreciation +€27,976
up €27,976 (+38.7%), from €72,346 to €100,322
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,013,265 | €1,060,331 | +€47,065 | +4.6% |
| Fixed assets | 21/28 | €445,404 | €400,147 | -€45,257 | -10.2% |
| Intangible fixed assets | 21 | €241,819 | €209,345 | -€32,473 | -13.4% |
| Tangible fixed assets | 22/27 | €196,885 | €184,101 | -€12,784 | -6.5% |
| Land and buildings | 22 | €160,700 | €140,579 | -€20,121 | -12.5% |
| Plant, machinery and equipment | 23 | €30,932 | €23,005 | -€7,928 | -25.6% |
| Furniture and vehicles | 24 | €5,253 | €20,517 | +€15,265 | +290.6% |
| Financial fixed assets | 28 | €6,700 | €6,700 | = | 0.0% |
| Current assets | 29/58 | €567,862 | €660,184 | +€92,322 | +16.3% |
| Amounts receivable within one year | 40/41 | €331,574 | €390,395 | +€58,821 | +17.7% |
| Trade receivables | 40 | €314,023 | €372,172 | +€58,149 | +18.5% |
| Other amounts receivable | 41 | €17,550 | €18,223 | +€672 | +3.8% |
| Cash at bank and in hand | 54/58 | €222,164 | €257,233 | +€35,069 | +15.8% |
| Deferred charges and accrued income | 490/1 | €14,124 | €12,556 | -€1,568 | -11.1% |
| Total equity and liabilities | 10/49 | €1,013,265 | €1,060,331 | +€47,065 | +4.6% |
| Equity | 10/15 | €148,612 | €143,732 | -€4,880 | -3.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €62,770 | €57,890 | -€4,880 | -7.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €56,620 | €51,740 | -€4,880 | -8.6% |
| Profit (loss) carried forward | 14 | €24,342 | €24,342 | = | 0.0% |
| Amounts payable | 17/49 | €864,653 | €916,598 | +€51,945 | +6.0% |
| Amounts payable after more than one year | 17 | €559,886 | €432,218 | -€127,668 | -22.8% |
| Financial debts | 170/4 | €559,886 | €432,218 | -€127,668 | -22.8% |
| Amounts payable within one year | 42/48 | €273,376 | €452,989 | +€179,614 | +65.7% |
| Current portion of amounts payable after more than one year | 42 | €66,136 | €113,183 | +€47,048 | +71.1% |
| Financial debts | 43 | €620 | €518 | -€102 | -16.4% |
| Credit institutions | 430/8 | €620 | €518 | -€102 | -16.4% |
| Trade debts | 44 | €4,921 | €98,088 | +€93,167 | +1893.4% |
| Suppliers | 440/4 | €4,921 | €98,088 | +€93,167 | +1893.4% |
| Taxes, remuneration and social security | 45 | €76,264 | €84,457 | +€8,193 | +10.7% |
| Taxes | 450/3 | €21,591 | €13,337 | -€8,254 | -38.2% |
| Remuneration and social security | 454/9 | €54,673 | €71,120 | +€16,447 | +30.1% |
| Other amounts payable | 47/48 | €125,436 | €156,743 | +€31,308 | +25.0% |
| Accrued charges and deferred income | 492/3 | €31,391 | €31,391 | = | 0.0% |
| Non-recurring operating income | 76A | €9,869 | €298 | -€9,571 | -97.0% |
| Remuneration, social security and pensions | 62 | €295,128 | €434,622 | +€139,494 | +47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,346 | €100,322 | +€27,976 | +38.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,994 | -€2,994 | |
| Other operating charges | 640/8 | €25,360 | €53,527 | +€28,167 | +111.1% |
| Non-recurring operating charges | 66A | €424 | €366 | -€58 | -13.7% |
| Gross operating margin | 9900 | €554,140 | €771,177 | +€217,037 | +39.2% |
| Operating profit (loss) | 9901 | €160,883 | €185,335 | +€24,452 | +15.2% |
| Financial income | 75/76B | €0 | €10 | +€10 | +50800.0% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +50800.0% |
| Financial charges | 65/66B | €8,896 | €8,654 | -€242 | -2.7% |
| Recurring financial charges | 65 | €8,896 | €8,654 | -€242 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €151,987 | €176,691 | +€24,704 | +16.3% |
| Income taxes | 67/77 | €8,722 | €8,610 | -€112 | -1.3% |
| Profit (loss) for the period | 9904 | €143,265 | €168,082 | +€24,816 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €143,265 | €168,082 | +€24,816 | +17.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.