BO SPAENC: 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.
BO SPAENC
Largest movements
- Cash -€23,050
down €23,050 (-41.2%), from €55,926 to €32,876
mainly Investment in fixed assets (net) (-€12,397) and Tax, wage and social debts (-€10,278)
- Tangible fixed assets +€6,851
up €6,851 (+34.2%), from €20,053 to €26,904
of which Other tangible fixed assets: +€12,397
- Deferred charges and accrued income -€1,912
down €1,912 (-61.7%), from €3,097 to €1,185
- Receivables within one year +€1,705
up €1,705 (+5.7%), from €30,156 to €31,862
of which Other amounts receivable: +€10,936
- Tax, wage and social debts -€10,278
down €10,278 (-98.8%), from €10,400 to €122
- Trade debts -€8,962
down €8,962 (-43.2%), from €20,755 to €11,793
- Advances received +€3,392
new in 2025: €3,392
- Gross operating margin -€29,685
down €29,685 (-78.9%), from €37,628 to €7,943
- Taxes -€12,132
down €12,132 (-87.7%), from €13,839 to €1,707
- Depreciation +€1,337
up €1,337 (+31.8%), from €4,208 to €5,546
- Financial charges -€948
down €948 (-88.4%), from €1,072 to €125
of which Non-recurring financial charges: -€878
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 | €109,232 | €92,827 | -€16,406 | -15.0% |
| Fixed assets | 21/28 | €20,053 | €26,904 | +€6,851 | +34.2% |
| Tangible fixed assets | 22/27 | €20,053 | €26,904 | +€6,851 | +34.2% |
| Land and buildings | 22 | €4,901 | €3,901 | -€1,000 | -20.4% |
| Plant, machinery and equipment | 23 | €10,537 | €7,012 | -€3,526 | -33.5% |
| Furniture and vehicles | 24 | €4,615 | €3,595 | -€1,020 | -22.1% |
| Other tangible fixed assets | 26 | - | €12,397 | +€12,397 | |
| Current assets | 29/58 | €89,180 | €65,923 | -€23,257 | -26.1% |
| Amounts receivable within one year | 40/41 | €30,156 | €31,862 | +€1,705 | +5.7% |
| Trade receivables | 40 | €28,202 | €18,971 | -€9,231 | -32.7% |
| Other amounts receivable | 41 | €1,954 | €12,891 | +€10,936 | +560% |
| Cash at bank and in hand | 54/58 | €55,926 | €32,876 | -€23,050 | -41.2% |
| Deferred charges and accrued income | 490/1 | €3,097 | €1,185 | -€1,912 | -61.7% |
| Total equity and liabilities | 10/49 | €109,232 | €92,827 | -€16,406 | -15.0% |
| Equity | 10/15 | €78,077 | €77,520 | -€557 | -0.7% |
| Contributions | 10/11 | €8,684 | €8,684 | = | 0.0% |
| Reserves | 13 | €69,393 | €69,393 | = | 0.0% |
| Distributable reserves | 133 | €69,393 | €69,393 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€557 | -€557 | |
| Amounts payable | 17/49 | €31,155 | €15,307 | -€15,849 | -50.9% |
| Amounts payable within one year | 42/48 | €31,155 | €15,307 | -€15,849 | -50.9% |
| Trade debts | 44 | €20,755 | €11,793 | -€8,962 | -43.2% |
| Suppliers | 440/4 | €20,755 | €11,793 | -€8,962 | -43.2% |
| Advances received on contracts in progress | 46 | - | €3,392 | +€3,392 | |
| Taxes, remuneration and social security | 45 | €10,400 | €122 | -€10,278 | -98.8% |
| Taxes | 450/3 | €10,400 | €122 | -€10,278 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,208 | €5,546 | +€1,337 | +31.8% |
| Other operating charges | 640/8 | €1,172 | €1,123 | -€49 | -4.2% |
| Gross operating margin | 9900 | €37,628 | €7,943 | -€29,685 | -78.9% |
| Operating profit (loss) | 9901 | €32,248 | €1,275 | -€30,973 | -96.0% |
| Financial income | 75/76B | €47 | - | -€47 | |
| Recurring financial income | 75 | €47 | - | -€47 | |
| Financial charges | 65/66B | €1,072 | €125 | -€948 | -88.4% |
| Recurring financial charges | 65 | €194 | €125 | -€70 | -35.9% |
| Non-recurring financial charges | 66B | €878 | - | -€878 | |
| Profit (loss) for the period before taxes | 9903 | €31,223 | €1,150 | -€30,072 | -96.3% |
| Income taxes | 67/77 | €13,839 | €1,707 | -€12,132 | -87.7% |
| Profit (loss) for the period | 9904 | €17,383 | -€557 | -€17,941 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,383 | -€557 | -€17,941 |
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 16 October 2026 via checked.be.