Smart Tech: what changed
Smart Tech
Largest movements
- Receivables within one year +€115,524
up €115,524 (+81.0%), from €142,681 to €258,205
of which Trade receivables: +€115,050
- Cash -€72,461
down €72,461 (-98.4%), from €73,648 to €1,187
mainly Receivables within one year (-€115,524) and Contributions, distributions and other (-€37,980)
- Tangible fixed assets +€8,741
up €8,741 (+29.5%), from €29,608 to €38,349
of which Furniture and vehicles: +€11,459
- Deferred charges and accrued income +€6,984
new in 2025: €6,984
- Other debts +€31,384
up €31,384 (+123%), from €25,482 to €56,866
- Short-term financial debts +€20,000
new in 2025: €20,000
- Trade debts -€15,435
down €15,435 (-21.8%), from €70,881 to €55,446
- Reserves +€14,493
up €14,493 (+12.5%), from €115,484 to €129,976
- Tax, wage and social debts +€8,425
up €8,425 (+23.5%), from €35,866 to €44,291
of which Remuneration and social security: +€10,866
- Gross operating margin +€95,523
up €95,523 (+49.1%), from €194,357 to €289,880
- Staff costs +€68,323
up €68,323 (+58.4%), from €116,907 to €185,229
- Taxes +€8,123
up €8,123 (+53.0%), from €15,322 to €23,446
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 | €257,791 | €316,579 | +€58,789 | +22.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €32,255 | €40,997 | +€8,741 | +27.1% |
| Tangible fixed assets | 22/27 | €29,608 | €38,349 | +€8,741 | +29.5% |
| Land and buildings | 22 | €3,926 | €3,220 | -€706 | -18.0% |
| Plant, machinery and equipment | 23 | €9,002 | €4,707 | -€4,295 | -47.7% |
| Furniture and vehicles | 24 | €16,680 | €28,139 | +€11,459 | +68.7% |
| Other tangible fixed assets | 26 | - | €2,283 | +€2,283 | |
| Financial fixed assets | 28 | €2,648 | €2,648 | = | 0.0% |
| Current assets | 29/58 | €225,535 | €275,583 | +€50,048 | +22.2% |
| Stocks and contracts in progress | 3 | €9,206 | €9,206 | = | 0.0% |
| Stocks | 30/36 | €9,206 | €9,206 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €142,681 | €258,205 | +€115,524 | +81.0% |
| Trade receivables | 40 | €115,358 | €230,407 | +€115,050 | +99.7% |
| Other amounts receivable | 41 | €27,323 | €27,797 | +€475 | +1.7% |
| Cash at bank and in hand | 54/58 | €73,648 | €1,187 | -€72,461 | -98.4% |
| Deferred charges and accrued income | 490/1 | - | €6,984 | +€6,984 | |
| Total equity and liabilities | 10/49 | €257,791 | €316,579 | +€58,789 | +22.8% |
| Equity | 10/15 | €125,562 | €139,976 | +€14,415 | +11.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €115,484 | €129,976 | +€14,493 | +12.5% |
| Distributable reserves | 133 | €115,484 | €129,976 | +€14,493 | +12.5% |
| Profit (loss) carried forward | 14 | €78 | - | -€78 | |
| Amounts payable | 17/49 | €132,229 | €176,603 | +€44,374 | +33.6% |
| Amounts payable within one year | 42/48 | €132,229 | €176,603 | +€44,374 | +33.6% |
| Financial debts | 43 | - | €20,000 | +€20,000 | |
| Credit institutions | 430/8 | - | €20,000 | +€20,000 | |
| Trade debts | 44 | €70,881 | €55,446 | -€15,435 | -21.8% |
| Suppliers | 440/4 | €70,881 | €55,446 | -€15,435 | -21.8% |
| Taxes, remuneration and social security | 45 | €35,866 | €44,291 | +€8,425 | +23.5% |
| Taxes | 450/3 | €30,512 | €28,071 | -€2,441 | -8.0% |
| Remuneration and social security | 454/9 | €5,354 | €16,220 | +€10,866 | +203% |
| Other amounts payable | 47/48 | €25,482 | €56,866 | +€31,384 | +123% |
| Remuneration, social security and pensions | 62 | €116,907 | €185,229 | +€68,323 | +58.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,150 | €16,819 | +€2,669 | +18.9% |
| Other operating charges | 640/8 | €6,928 | €5,475 | -€1,453 | -21.0% |
| Gross operating margin | 9900 | €194,357 | €289,880 | +€95,523 | +49.1% |
| Operating profit (loss) | 9901 | €56,373 | €82,357 | +€25,984 | +46.1% |
| Financial income | 75/76B | €733 | €3,031 | +€2,298 | +313% |
| Recurring financial income | 75 | €733 | €3,031 | +€2,298 | +313% |
| Financial charges | 65/66B | €9,706 | €9,547 | -€158 | -1.6% |
| Recurring financial charges | 65 | €9,706 | €9,547 | -€158 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €47,400 | €75,841 | +€28,440 | +60.0% |
| Income taxes | 67/77 | €15,322 | €23,446 | +€8,123 | +53.0% |
| Profit (loss) for the period | 9904 | €32,078 | €52,395 | +€20,317 | +63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,078 | €52,395 | +€20,317 | +63.3% |
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 4 November 2026 via checked.be.