DANIEL SPREUTELS: 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.
DANIEL SPREUTELS
Largest movements
- Receivables within one year -€46,839
down €46,839 (-94.8%), from €49,427 to €2,588
- Receivables after one year +€18,520
up €18,520 (+158%), from €11,750 to €30,270
- Cash -€4,564
down €4,564 (-2.9%), from €158,075 to €153,510
mainly Trade debts (-€37,176) and Receivables after one year (-€18,520)
- Trade debts -€37,176
down €37,176 (-95.4%), from €38,969 to €1,794
- Reserves +€10,611
up €10,611 (+43.2%), from €24,588 to €35,198
of which Distributable reserves: +€10,611
- Advances received -€3,630
no longer reported in 2025 (was €3,630)
- Staff costs -€11,740
down €11,740, from €11,051 to -€689
- Gross operating margin +€7,182
up €7,182 (+47.3%), from €15,168 to €22,350
- Taxes +€3,715
up €3,715 (+80.0%), from €4,645 to €8,360
- Other operating charges +€3,258
up €3,258 (+302%), from €1,078 to €4,336
- Financial income +€579
up €579 (+282%), from €206 to €785
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 | €220,110 | €188,303 | -€31,807 | -14.5% |
| Fixed assets | 21/28 | €544 | €379 | -€165 | -30.4% |
| Tangible fixed assets | 22/27 | €544 | €379 | -€165 | -30.4% |
| Furniture and vehicles | 24 | €544 | €379 | -€165 | -30.4% |
| Current assets | 29/58 | €219,566 | €187,924 | -€31,642 | -14.4% |
| Amounts receivable after more than one year | 29 | €11,750 | €30,270 | +€18,520 | +158% |
| Other amounts receivable | 291 | €11,750 | €30,270 | +€18,520 | +158% |
| Amounts receivable within one year | 40/41 | €49,427 | €2,588 | -€46,839 | -94.8% |
| Trade receivables | 40 | €49,427 | €2,588 | -€46,839 | -94.8% |
| Cash at bank and in hand | 54/58 | €158,075 | €153,510 | -€4,564 | -2.9% |
| Deferred charges and accrued income | 490/1 | €315 | €1,556 | +€1,241 | +394% |
| Total equity and liabilities | 10/49 | €220,110 | €188,303 | -€31,807 | -14.5% |
| Equity | 10/15 | €165,965 | €175,743 | +€9,778 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,588 | €35,198 | +€10,611 | +43.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €22,728 | €33,338 | +€10,611 | +46.7% |
| Profit (loss) carried forward | 14 | €122,777 | €121,944 | -€833 | -0.7% |
| Amounts payable | 17/49 | €54,145 | €12,560 | -€41,585 | -76.8% |
| Amounts payable within one year | 42/48 | €54,145 | €12,160 | -€41,985 | -77.5% |
| Trade debts | 44 | €38,969 | €1,794 | -€37,176 | -95.4% |
| Suppliers | 440/4 | €38,969 | €1,794 | -€37,176 | -95.4% |
| Advances received on contracts in progress | 46 | €3,630 | - | -€3,630 | |
| Taxes, remuneration and social security | 45 | €10,506 | €9,529 | -€977 | -9.3% |
| Taxes | 450/3 | €9,647 | €9,529 | -€118 | -1.2% |
| Remuneration and social security | 454/9 | €859 | - | -€859 | |
| Other amounts payable | 47/48 | €1,040 | €837 | -€202 | -19.5% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €11,051 | -€689 | -€11,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117 | €165 | +€48 | +41.5% |
| Other operating charges | 640/8 | €1,078 | €4,336 | +€3,258 | +302% |
| Gross operating margin | 9900 | €15,168 | €22,350 | +€7,182 | +47.3% |
| Operating profit (loss) | 9901 | €2,922 | €18,538 | +€15,616 | +534% |
| Financial income | 75/76B | €206 | €785 | +€579 | +282% |
| Recurring financial income | 75 | €206 | €785 | +€579 | +282% |
| Financial charges | 65/66B | €313 | €352 | +€39 | +12.4% |
| Recurring financial charges | 65 | €313 | €352 | +€39 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €2,815 | €18,970 | +€16,156 | +574% |
| Income taxes | 67/77 | €4,645 | €8,360 | +€3,715 | +80.0% |
| Profit (loss) for the period | 9904 | -€1,830 | €10,611 | +€12,441 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,830 | €10,611 | +€12,441 |
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 22 October 2026 via checked.be.