Ben Spooren: 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.
Ben Spooren
Largest movements
- Tangible fixed assets +€208,194
up €208,194 (+23.4%), from €887,874 to €1.1m
of which Land and buildings: +€213,721
- Cash -€17,359
down €17,359 (-51.9%), from €33,464 to €16,105
mainly Investment in fixed assets (net) (-€259,439) and Receivables within one year (-€1,599)
- Debts after one year +€125,948
up €125,948 (+15.0%), from €840,408 to €966,355
of which Financial debts: +€107,731
- Reserves +€63,066
up €63,066 (+36.2%), from €174,342 to €237,407
- Financial income +€40,000
up €40,000, from €0 to €40,000
- Turnover +€12,000
up €12,000 (+10.9%), from €110,400 to €122,400
- Gross operating margin +€11,797
up €11,797 (+11.6%), from €101,772 to €113,569
- Depreciation +€7,837
up €7,837 (+18.1%), from €43,408 to €51,245
- Financial charges +€4,336
up €4,336 (+16.5%), from €26,290 to €30,626
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 | €1,076,879 | €1,267,463 | +€190,583 | +17.7% |
| Fixed assets | 21/28 | €1,030,660 | €1,238,854 | +€208,194 | +20.2% |
| Tangible fixed assets | 22/27 | €887,874 | €1,096,067 | +€208,194 | +23.4% |
| Land and buildings | 22 | €878,372 | €1,092,094 | +€213,721 | +24.3% |
| Plant, machinery and equipment | 23 | €1,394 | €632 | -€762 | -54.6% |
| Furniture and vehicles | 24 | €8,107 | €3,341 | -€4,766 | -58.8% |
| Financial fixed assets | 28 | €142,787 | €142,787 | = | 0.0% |
| Current assets | 29/58 | €46,219 | €28,609 | -€17,610 | -38.1% |
| Amounts receivable within one year | 40/41 | €10,430 | €12,029 | +€1,599 | +15.3% |
| Trade receivables | 40 | €9,200 | €10,200 | +€1,000 | +10.9% |
| Other amounts receivable | 41 | €1,230 | €1,829 | +€599 | +48.7% |
| Cash at bank and in hand | 54/58 | €33,464 | €16,105 | -€17,359 | -51.9% |
| Deferred charges and accrued income | 490/1 | €2,326 | €476 | -€1,850 | -79.5% |
| Total equity and liabilities | 10/49 | €1,076,879 | €1,267,463 | +€190,583 | +17.7% |
| Equity | 10/15 | €186,842 | €249,907 | +€63,066 | +33.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €174,342 | €237,407 | +€63,066 | +36.2% |
| Distributable reserves | 133 | €174,342 | €237,407 | +€63,066 | +36.2% |
| Amounts payable | 17/49 | €890,038 | €1,017,555 | +€127,518 | +14.3% |
| Amounts payable after more than one year | 17 | €840,408 | €966,355 | +€125,948 | +15.0% |
| Financial debts | 170/4 | €687,950 | €795,681 | +€107,731 | +15.7% |
| Other amounts payable | 178/9 | €152,458 | €170,674 | +€18,216 | +11.9% |
| Amounts payable within one year | 42/48 | €49,630 | €51,200 | +€1,570 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €46,637 | €49,678 | +€3,042 | +6.5% |
| Trade debts | 44 | €2,966 | €1,422 | -€1,544 | -52.1% |
| Suppliers | 440/4 | €2,966 | €1,422 | -€1,544 | -52.1% |
| Taxes, remuneration and social security | 45 | €27 | €100 | +€73 | +268% |
| Taxes | 450/3 | €27 | €100 | +€73 | +268% |
| Turnover | 70 | €110,400 | €122,400 | +€12,000 | +10.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €50,784 | €52,802 | +€2,018 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,408 | €51,245 | +€7,837 | +18.1% |
| Other operating charges | 640/8 | €5,011 | €5,231 | +€220 | +4.4% |
| Gross operating margin | 9900 | €101,772 | €113,569 | +€11,797 | +11.6% |
| Operating profit (loss) | 9901 | €53,353 | €57,093 | +€3,740 | +7.0% |
| Financial income | 75/76B | €0 | €40,000 | +€40,000 | |
| Recurring financial income | 75 | €0 | €40,000 | +€40,000 | |
| Financial charges | 65/66B | €26,290 | €30,626 | +€4,336 | +16.5% |
| Recurring financial charges | 65 | €26,290 | €30,626 | +€4,336 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €27,063 | €66,467 | +€39,404 | +146% |
| Income taxes | 67/77 | €4,770 | €3,401 | -€1,369 | -28.7% |
| Profit (loss) for the period | 9904 | €22,292 | €63,066 | +€40,773 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €22,292 | €63,066 | +€40,773 | +183% |
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 24 October 2026 via checked.be.