SMARTELIA: what changed
SMARTELIA
Largest movements
- Receivables within one year +€235,690
up €235,690 (+42.9%), from €549,969 to €785,659
of which Other amounts receivable: +€488,387
- Cash -€135,977
down €135,977 (-72.2%), from €188,298 to €52,321
mainly Receivables within one year (-€235,690) and Tax, wage and social debts (-€90,974)
- Deferred charges and accrued income -€52,400
down €52,400 (-81.9%), from €64,000 to €11,600
- Intangible fixed assets +€8,687
new in 2025: €8,687
- Trade debts +€202,581
up €202,581 (+50.6%), from €400,420 to €603,001
- Tax, wage and social debts -€90,974
down €90,974 (-39.7%), from €229,109 to €138,135
- Other debts -€65,792
down €65,792 (-54.3%), from €121,104 to €55,312
- Short-term financial debts +€14,660
new in 2025: €14,660
- Gross operating margin -€69,964
down €69,964 (-53.5%), from €130,767 to €60,803
- Taxes -€62,299
down €62,299 (-96.3%), from €64,722 to €2,423
- Financial income -€17,800
down €17,800 (-85.5%), from €20,825 to €3,025
- Other operating charges +€3,161
up €3,161 (+815%), from €388 to €3,549
- Depreciation +€2,413
new in 2025: €2,413
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €802,267 | €858,267 | +€56,000 | +7.0% |
| Fixed assets | 21/28 | - | €8,687 | +€8,687 | |
| Intangible fixed assets | 21 | - | €8,687 | +€8,687 | |
| Current assets | 29/58 | €802,267 | €849,580 | +€47,313 | +5.9% |
| Amounts receivable within one year | 40/41 | €549,969 | €785,659 | +€235,690 | +42.9% |
| Trade receivables | 40 | €549,969 | €297,272 | -€252,697 | -45.9% |
| Other amounts receivable | 41 | - | €488,387 | +€488,387 | |
| Cash at bank and in hand | 54/58 | €188,298 | €52,321 | -€135,977 | -72.2% |
| Deferred charges and accrued income | 490/1 | €64,000 | €11,600 | -€52,400 | -81.9% |
| Total equity and liabilities | 10/49 | €802,267 | €858,267 | +€56,000 | +7.0% |
| Equity | 10/15 | €24,753 | €27,577 | +€2,824 | +11.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,537 | €1,537 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,537 | €1,537 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,537 | €1,537 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,016 | €19,840 | +€2,824 | +16.6% |
| Amounts payable | 17/49 | €777,514 | €830,690 | +€53,176 | +6.8% |
| Amounts payable within one year | 42/48 | €750,633 | €811,108 | +€60,475 | +8.1% |
| Financial debts | 43 | - | €14,660 | +€14,660 | |
| Credit institutions | 430/8 | - | €14,660 | +€14,660 | |
| Trade debts | 44 | €400,420 | €603,001 | +€202,581 | +50.6% |
| Suppliers | 440/4 | €400,420 | €603,001 | +€202,581 | +50.6% |
| Taxes, remuneration and social security | 45 | €229,109 | €138,135 | -€90,974 | -39.7% |
| Taxes | 450/3 | €229,109 | €138,135 | -€90,974 | -39.7% |
| Other amounts payable | 47/48 | €121,104 | €55,312 | -€65,792 | -54.3% |
| Accrued charges and deferred income | 492/3 | €26,881 | €19,582 | -€7,299 | -27.2% |
| Non-recurring operating income | 76A | €565 | - | -€565 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,413 | +€2,413 | |
| Other operating charges | 640/8 | €388 | €3,549 | +€3,161 | +815% |
| Gross operating margin | 9900 | €130,767 | €60,803 | -€69,964 | -53.5% |
| Operating profit (loss) | 9901 | €130,379 | €54,841 | -€75,538 | -57.9% |
| Financial income | 75/76B | €20,825 | €3,025 | -€17,800 | -85.5% |
| Recurring financial income | 75 | €20,825 | €3,025 | -€17,800 | -85.5% |
| Financial charges | 65/66B | €1,729 | €2,619 | +€890 | +51.5% |
| Recurring financial charges | 65 | €1,729 | €2,619 | +€890 | +51.5% |
| Profit (loss) for the period before taxes | 9903 | €149,475 | €55,247 | -€94,228 | -63.0% |
| Income taxes | 67/77 | €64,722 | €2,423 | -€62,299 | -96.3% |
| Profit (loss) for the period | 9904 | €84,753 | €52,824 | -€31,929 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,753 | €52,824 | -€31,929 | -37.7% |
Next steps
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 5 November 2026 via checked.be.