Cedric Spillebeen: 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.
Cedric Spillebeen
Largest movements
- Receivables within one year -€37,725
down €37,725 (-82.7%), from €45,611 to €7,886
of which Trade receivables: -€41,577
- Intangible fixed assets +€27,642
new in 2025: €27,642
- Cash -€4,120
down €4,120 (-12.4%), from €33,144 to €29,024
mainly Investment in fixed assets (net) (-€31,551) and Tax, wage and social debts (-€8,550)
- Tax, wage and social debts -€8,550
down €8,550 (-99.9%), from €8,555 to €5
- Profit (loss) carried forward -€4,884
down €4,884 (-48.4%), from -€10,086 to -€14,971
- Depreciation +€3,067
up €3,067 (+375%), from €818 to €3,885
- Financial charges +€1,996
up €1,996 (+59.4%), from €3,359 to €5,355
- Other operating charges +€309
up €309 (+48.9%), from €631 to €940
- Gross operating margin +€212
up €212 (+4.0%), from €5,266 to €5,478
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 | €81,649 | €67,658 | -€13,991 | -17.1% |
| Fixed assets | 21/28 | €2,263 | €29,929 | +€27,666 | +1,222% |
| Intangible fixed assets | 21 | - | €27,642 | +€27,642 | |
| Tangible fixed assets | 22/27 | €2,263 | €2,287 | +€24 | +1.0% |
| Furniture and vehicles | 24 | €2,263 | €2,287 | +€24 | +1.0% |
| Current assets | 29/58 | €79,386 | €37,729 | -€41,656 | -52.5% |
| Amounts receivable within one year | 40/41 | €45,611 | €7,886 | -€37,725 | -82.7% |
| Trade receivables | 40 | €41,577 | €0 | -€41,577 | -100% |
| Other amounts receivable | 41 | €4,034 | €7,886 | +€3,852 | +95.5% |
| Cash at bank and in hand | 54/58 | €33,144 | €29,024 | -€4,120 | -12.4% |
| Deferred charges and accrued income | 490/1 | €631 | €820 | +€189 | +29.9% |
| Total equity and liabilities | 10/49 | €81,649 | €67,658 | -€13,991 | -17.1% |
| Equity | 10/15 | €13,873 | €8,989 | -€4,884 | -35.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €11,560 | €11,560 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €11,560 | €11,560 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,086 | -€14,971 | -€4,884 | -48.4% |
| Amounts payable | 17/49 | €67,775 | €58,669 | -€9,106 | -13.4% |
| Amounts payable after more than one year | 17 | €58,190 | €57,535 | -€656 | -1.1% |
| Other amounts payable | 178/9 | €58,190 | €57,535 | -€656 | -1.1% |
| Amounts payable within one year | 42/48 | €9,585 | €1,134 | -€8,451 | -88.2% |
| Trade debts | 44 | €1,030 | €1,129 | +€99 | +9.6% |
| Suppliers | 440/4 | €1,030 | €1,129 | +€99 | +9.6% |
| Taxes, remuneration and social security | 45 | €8,555 | €5 | -€8,550 | -99.9% |
| Taxes | 450/3 | €8,555 | €5 | -€8,550 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €818 | €3,885 | +€3,067 | +375% |
| Other operating charges | 640/8 | €631 | €940 | +€309 | +48.9% |
| Gross operating margin | 9900 | €5,266 | €5,478 | +€212 | +4.0% |
| Operating profit (loss) | 9901 | €3,817 | €653 | -€3,164 | -82.9% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €3,359 | €5,355 | +€1,996 | +59.4% |
| Recurring financial charges | 65 | €3,359 | €5,355 | +€1,996 | +59.4% |
| Profit (loss) for the period before taxes | 9903 | €458 | -€4,700 | -€5,158 | |
| Income taxes | 67/77 | €197 | €184 | -€13 | -6.4% |
| Profit (loss) for the period | 9904 | €261 | -€4,884 | -€5,146 | |
| Profit (loss) for the period to be appropriated | 9905 | €261 | -€4,884 | -€5,146 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.