SMARTWEAR: 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.
SMARTWEAR
Largest movements
- Cash -€9,767
down €9,767 (-48.9%), from €19,960 to €10,193
mainly Debts after one year (-€24,584) and Tax, wage and social debts (-€1,003)
- Debts after one year -€24,584
down €24,584 (-10.7%), from €230,156 to €205,572
of which Financial debts: -€24,584
- Trade debts +€11,785
up €11,785 (+2,438%), from €483 to €12,268
- Profit (loss) carried forward +€3,538
up €3,538 (+150%), from €2,362 to €5,900
- Gross operating margin +€2,834
up €2,834 (+27.8%), from €10,195 to €13,029
- Financial charges +€2,804
up €2,804 (+50.9%), from €5,507 to €8,311
- Other operating charges +€807
up €807 (+432%), from €187 to €994
- Staff costs -€163
no longer reported in 2025 (was €163)
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 | €322,299 | €312,662 | -€9,636 | -3.0% |
| Fixed assets | 21/28 | €285,088 | €285,088 | = | 0.0% |
| Financial fixed assets | 28 | €285,088 | €285,088 | = | 0.0% |
| Current assets | 29/58 | €37,211 | €27,575 | -€9,636 | -25.9% |
| Amounts receivable within one year | 40/41 | €17,251 | €17,382 | +€131 | +0.8% |
| Trade receivables | 40 | €17,251 | €17,271 | +€20 | +0.1% |
| Other amounts receivable | 41 | - | €111 | +€111 | |
| Cash at bank and in hand | 54/58 | €19,960 | €10,193 | -€9,767 | -48.9% |
| Total equity and liabilities | 10/49 | €322,299 | €312,662 | -€9,636 | -3.0% |
| Equity | 10/15 | €64,940 | €68,664 | +€3,724 | +5.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €578 | €764 | +€186 | +32.2% |
| Non-distributable reserves | 130/1 | €578 | €764 | +€186 | +32.2% |
| Legal reserve | 130 | €578 | €764 | +€186 | +32.2% |
| Profit (loss) carried forward | 14 | €2,362 | €5,900 | +€3,538 | +150% |
| Amounts payable | 17/49 | €257,358 | €243,998 | -€13,360 | -5.2% |
| Amounts payable after more than one year | 17 | €230,156 | €205,572 | -€24,584 | -10.7% |
| Financial debts | 170/4 | €150,156 | €125,572 | -€24,584 | -16.4% |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €27,202 | €38,426 | +€11,224 | +41.3% |
| Current portion of amounts payable after more than one year | 42 | €23,492 | €24,584 | +€1,093 | +4.7% |
| Trade debts | 44 | €483 | €12,268 | +€11,785 | +2,438% |
| Suppliers | 440/4 | €483 | €12,268 | +€11,785 | +2,438% |
| Taxes, remuneration and social security | 45 | €1,468 | €465 | -€1,003 | -68.3% |
| Taxes | 450/3 | €1,468 | €465 | -€1,003 | -68.3% |
| Other amounts payable | 47/48 | €1,759 | €1,108 | -€651 | -37.0% |
| Remuneration, social security and pensions | 62 | €163 | - | -€163 | |
| Other operating charges | 640/8 | €187 | €994 | +€807 | +432% |
| Gross operating margin | 9900 | €10,195 | €13,029 | +€2,834 | +27.8% |
| Operating profit (loss) | 9901 | €9,845 | €12,035 | +€2,190 | +22.2% |
| Financial income | 75/76B | €50 | - | -€50 | |
| Recurring financial income | 75 | €50 | - | -€50 | |
| Financial charges | 65/66B | €5,507 | €8,311 | +€2,804 | +50.9% |
| Recurring financial charges | 65 | €5,507 | €8,311 | +€2,804 | +50.9% |
| Profit (loss) for the period before taxes | 9903 | €4,388 | €3,724 | -€664 | -15.1% |
| Profit (loss) for the period | 9904 | €4,388 | €3,724 | -€664 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,388 | €3,724 | -€664 | -15.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.