START SMART: 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.
START SMART
Largest movements
- Cash -€25,021
down €25,021 (-84.2%), from €29,721 to €4,700
mainly Other debts (-€23,397) and Receivables within one year (-€3,260)
- Receivables within one year +€3,260
up €3,260 (+16.2%), from €20,076 to €23,336
of which Trade receivables: +€4,470
- Stocks and contracts -€2,176
no longer reported in 2025 (was €2,176)
- Deferred charges and accrued income +€571
up €571 (+30.0%), from €1,905 to €2,476
- Other debts -€23,397
down €23,397 (-60.6%), from €38,593 to €15,196
- Trade debts -€2,261
down €2,261 (-56.6%), from €3,998 to €1,737
- Tax, wage and social debts +€1,152
up €1,152 (+37.3%), from €3,086 to €4,239
- Profit (loss) carried forward +€1,124
up €1,124 (+716%), from €157 to €1,281
- Other operating charges +€2,915
up €2,915 (+720%), from €405 to €3,319
- Depreciation -€2,377
down €2,377 (-99.3%), from €2,394 to €17
- Taxes +€1,221
up €1,221 (+229%), from €532 to €1,753
- Gross operating margin +€629
up €629 (+10.4%), from €6,017 to €6,645
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 | €53,895 | €30,512 | -€23,382 | -43.4% |
| Fixed assets | 21/28 | €17 | - | -€17 | |
| Tangible fixed assets | 22/27 | €17 | - | -€17 | |
| Furniture and vehicles | 24 | €17 | - | -€17 | |
| Current assets | 29/58 | €53,878 | €30,512 | -€23,365 | -43.4% |
| Stocks and contracts in progress | 3 | €2,176 | - | -€2,176 | |
| Stocks | 30/36 | €2,176 | - | -€2,176 | |
| Amounts receivable within one year | 40/41 | €20,076 | €23,336 | +€3,260 | +16.2% |
| Trade receivables | 40 | €17,669 | €22,139 | +€4,470 | +25.3% |
| Other amounts receivable | 41 | €2,407 | €1,197 | -€1,210 | -50.3% |
| Cash at bank and in hand | 54/58 | €29,721 | €4,700 | -€25,021 | -84.2% |
| Deferred charges and accrued income | 490/1 | €1,905 | €2,476 | +€571 | +30.0% |
| Total equity and liabilities | 10/49 | €53,895 | €30,512 | -€23,382 | -43.4% |
| Equity | 10/15 | €8,217 | €9,341 | +€1,124 | +13.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157 | €1,281 | +€1,124 | +716% |
| Amounts payable | 17/49 | €45,678 | €21,172 | -€24,506 | -53.7% |
| Amounts payable within one year | 42/48 | €45,678 | €21,172 | -€24,506 | -53.7% |
| Trade debts | 44 | €3,998 | €1,737 | -€2,261 | -56.6% |
| Suppliers | 440/4 | €3,998 | €1,737 | -€2,261 | -56.6% |
| Taxes, remuneration and social security | 45 | €3,086 | €4,239 | +€1,152 | +37.3% |
| Taxes | 450/3 | €3,086 | €4,239 | +€1,152 | +37.3% |
| Other amounts payable | 47/48 | €38,593 | €15,196 | -€23,397 | -60.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,394 | €17 | -€2,377 | -99.3% |
| Other operating charges | 640/8 | €405 | €3,319 | +€2,915 | +720% |
| Gross operating margin | 9900 | €6,017 | €6,645 | +€629 | +10.4% |
| Operating profit (loss) | 9901 | €3,218 | €3,309 | +€92 | +2.8% |
| Financial income | 75/76B | €4 | €5 | +€1 | +18.5% |
| Recurring financial income | 75 | €4 | €5 | +€1 | +18.5% |
| Financial charges | 65/66B | €407 | €437 | +€30 | +7.4% |
| Recurring financial charges | 65 | €407 | €437 | +€30 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €2,815 | €2,877 | +€62 | +2.2% |
| Income taxes | 67/77 | €532 | €1,753 | +€1,221 | +229% |
| Profit (loss) for the period | 9904 | €2,283 | €1,124 | -€1,159 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,283 | €1,124 | -€1,159 | -50.8% |
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 13 October 2026 via checked.be.