aSpeculo: what changed
Two fiscal 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.
aSpeculo
Largest movements
- Tangible fixed assets -€35,538
down €35,538 (-8.6%), from €412,661 to €377,123
of which Other tangible fixed assets: -€23,882
- Receivables within one year -€34,572
down €34,572 (-21.3%), from €162,479 to €127,907
of which Other amounts receivable: -€19,910
- Cash -€10,702
down €10,702 (-63.0%), from €16,996 to €6,294
mainly Tax, wage and social debts (-€74,836) and Current portion of long-term debt (-€31,060)
- Tax, wage and social debts -€74,836
down €74,836 (-91.7%), from €81,579 to €6,743
- Reserves +€48,239
up €48,239 (+14.4%), from €334,410 to €382,649
- Current portion of long-term debt -€31,060
down €31,060 (-35.5%), from €87,562 to €56,503
- Debts after one year -€30,850
down €30,850 (-65.7%), from €46,970 to €16,120
- Trade debts +€12,573
up €12,573 (+32.4%), from €38,847 to €51,419
- Gross operating margin -€86,218
down €86,218 (-34.8%), from €247,605 to €161,387
- Financial charges +€49,574
up €49,574 (+2865.8%), from €1,730 to €51,304
of which Financial charges: +€46,368
- Taxes -€25,940
down €25,940 (-50.5%), from €51,341 to €25,402
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.
Cash bridge derived
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 | €595,736 | €516,433 | -€79,303 | -13.3% |
| Fixed assets | 21/28 | €412,661 | €377,123 | -€35,538 | -8.6% |
| Tangible fixed assets | 22/27 | €412,661 | €377,123 | -€35,538 | -8.6% |
| Plant, machinery and equipment | 23 | €1,976 | €988 | -€988 | -50.0% |
| Furniture and vehicles | 24 | €94,282 | €83,614 | -€10,668 | -11.3% |
| Other tangible fixed assets | 26 | €316,403 | €292,521 | -€23,882 | -7.5% |
| Current assets | 29/58 | €183,075 | €139,311 | -€43,765 | -23.9% |
| Amounts receivable within one year | 40/41 | €162,479 | €127,907 | -€34,572 | -21.3% |
| Trade receivables | 40 | €102,350 | €87,688 | -€14,662 | -14.3% |
| Other amounts receivable | 41 | €60,129 | €40,219 | -€19,910 | -33.1% |
| Cash at bank and in hand | 54/58 | €16,996 | €6,294 | -€10,702 | -63.0% |
| Deferred charges and accrued income | 490/1 | €3,600 | €5,109 | +€1,509 | +41.9% |
| Total equity and liabilities | 10/49 | €595,736 | €516,433 | -€79,303 | -13.3% |
| Equity | 10/15 | €337,410 | €385,649 | +€48,239 | +14.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €334,410 | €382,649 | +€48,239 | +14.4% |
| Distributable reserves | 133 | €334,410 | €382,649 | +€48,239 | +14.4% |
| Amounts payable | 17/49 | €258,326 | €130,784 | -€127,542 | -49.4% |
| Amounts payable after more than one year | 17 | €46,970 | €16,120 | -€30,850 | -65.7% |
| Financial debts | 170/4 | €46,970 | €16,120 | -€30,850 | -65.7% |
| Amounts payable within one year | 42/48 | €211,356 | €114,665 | -€96,691 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €87,562 | €56,503 | -€31,060 | -35.5% |
| Trade debts | 44 | €38,847 | €51,419 | +€12,573 | +32.4% |
| Suppliers | 440/4 | €38,847 | €51,419 | +€12,573 | +32.4% |
| Taxes, remuneration and social security | 45 | €81,579 | €6,743 | -€74,836 | -91.7% |
| Taxes | 450/3 | €81,579 | €6,743 | -€74,836 | -91.7% |
| Other amounts payable | 47/48 | €3,368 | - | -€3,368 | |
| Non-recurring operating income | 76A | €1,513 | - | -€1,513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,496 | €35,538 | +€42 | +0.1% |
| Other operating charges | 640/8 | €1,115 | €1,511 | +€396 | +35.5% |
| Non-recurring operating charges | 66A | €1 | - | -€1 | |
| Gross operating margin | 9900 | €247,605 | €161,387 | -€86,218 | -34.8% |
| Operating profit (loss) | 9901 | €210,993 | €124,338 | -€86,655 | -41.1% |
| Financial income | 75/76B | €1,200 | €606 | -€594 | -49.5% |
| Recurring financial income | 75 | €1,200 | €606 | -€594 | -49.5% |
| Financial charges | 65/66B | €1,730 | €51,304 | +€49,574 | +2865.8% |
| Recurring financial charges | 65 | €1,730 | €48,097 | +€46,368 | +2680.4% |
| Non-recurring financial charges | 66B | - | €3,207 | +€3,207 | |
| Profit (loss) for the period before taxes | 9903 | €210,464 | €73,640 | -€136,823 | -65.0% |
| Income taxes | 67/77 | €51,341 | €25,402 | -€25,940 | -50.5% |
| Profit (loss) for the period | 9904 | €159,122 | €48,239 | -€110,884 | -69.7% |
| Profit (loss) for the period to be appropriated | 9905 | €159,122 | €48,239 | -€110,884 | -69.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.