Smart Alternative: 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.
Smart Alternative
Largest movements
- Receivables within one year +€35,731
up €35,731 (+104%), from €34,521 to €70,252
of which Other amounts receivable: +€23,417
- Cash -€4,952
down €4,952 (-85.1%), from €5,818 to €866
mainly Receivables within one year (-€35,731) and Investment in fixed assets (net) (-€2,055)
- Profit (loss) carried forward +€19,694
up €19,694 (+175%), from €11,232 to €30,925
- Tax, wage and social debts +€7,303
up €7,303 (+28.9%), from €25,289 to €32,592
- Trade debts +€3,865
up €3,865 (+38.5%), from €10,044 to €13,909
- Gross operating margin +€11,655
up €11,655 (+59.6%), from €19,554 to €31,209
- Taxes +€4,129
up €4,129 (+84.4%), from €4,894 to €9,023
- Other operating charges +€680
up €680 (+70.3%), from €967 to €1,647
- Financial income +€408
up €408 (+42.0%), from €969 to €1,377
- Depreciation -€342
down €342 (-14.8%), from €2,314 to €1,972
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 | €48,552 | €79,414 | +€30,862 | +63.6% |
| Fixed assets | 21/28 | €8,214 | €8,296 | +€83 | +1.0% |
| Tangible fixed assets | 22/27 | €8,214 | €8,296 | +€83 | +1.0% |
| Plant, machinery and equipment | 23 | €6,499 | €6,981 | +€482 | +7.4% |
| Furniture and vehicles | 24 | €1,715 | €1,316 | -€399 | -23.3% |
| Current assets | 29/58 | €40,338 | €71,118 | +€30,779 | +76.3% |
| Amounts receivable within one year | 40/41 | €34,521 | €70,252 | +€35,731 | +104% |
| Trade receivables | 40 | €231 | €12,546 | +€12,314 | +5,320% |
| Other amounts receivable | 41 | €34,289 | €57,706 | +€23,417 | +68.3% |
| Cash at bank and in hand | 54/58 | €5,818 | €866 | -€4,952 | -85.1% |
| Total equity and liabilities | 10/49 | €48,552 | €79,414 | +€30,862 | +63.6% |
| Equity | 10/15 | €13,219 | €32,913 | +€19,694 | +149% |
| Contributions | 10/11 | €1,988 | €1,988 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,232 | €30,925 | +€19,694 | +175% |
| Amounts payable | 17/49 | €35,333 | €46,501 | +€11,168 | +31.6% |
| Amounts payable within one year | 42/48 | €35,333 | €46,501 | +€11,168 | +31.6% |
| Trade debts | 44 | €10,044 | €13,909 | +€3,865 | +38.5% |
| Suppliers | 440/4 | €10,044 | €13,909 | +€3,865 | +38.5% |
| Taxes, remuneration and social security | 45 | €25,289 | €32,592 | +€7,303 | +28.9% |
| Taxes | 450/3 | €25,289 | €32,592 | +€7,303 | +28.9% |
| Non-recurring operating income | 76A | €100 | - | -€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,314 | €1,972 | -€342 | -14.8% |
| Other operating charges | 640/8 | €967 | €1,647 | +€680 | +70.3% |
| Gross operating margin | 9900 | €19,554 | €31,209 | +€11,655 | +59.6% |
| Operating profit (loss) | 9901 | €16,273 | €27,589 | +€11,317 | +69.5% |
| Financial income | 75/76B | €969 | €1,377 | +€408 | +42.0% |
| Recurring financial income | 75 | €969 | €1,377 | +€408 | +42.0% |
| Financial charges | 65/66B | €120 | €249 | +€129 | +107% |
| Recurring financial charges | 65 | €120 | €249 | +€129 | +107% |
| Profit (loss) for the period before taxes | 9903 | €17,122 | €28,717 | +€11,595 | +67.7% |
| Income taxes | 67/77 | €4,894 | €9,023 | +€4,129 | +84.4% |
| Profit (loss) for the period | 9904 | €12,228 | €19,694 | +€7,466 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,228 | €19,694 | +€7,466 | +61.1% |
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 30 October 2026 via checked.be.