DE SPECHT: 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.
DE SPECHT
Largest movements
- Financial fixed assets -€603,605
down €603,605 (-100%), from €603,605 to €0
- Cash +€138,112
up €138,112 (+436%), from €31,713 to €169,825
mainly Investment in fixed assets (net) (+€570,714) and Net result for the year (+€477,988)
- Receivables after one year +€117,000
new in 2025: €117,000
- Tangible fixed assets -€38,975
down €38,975 (-3.9%), from €1.0m to €971,580
of which Land and buildings: -€28,262
- Other debts -€883,802
down €883,802 (-99.2%), from €890,923 to €7,121
- Reserves +€477,988
up €477,988 (+388%), from €123,094 to €601,082
- Tax, wage and social debts +€52,148
up €52,148 (+525%), from €9,925 to €62,073
of which Taxes: +€54,148
- Debts after one year -€30,000
down €30,000 (-7.6%), from €392,500 to €362,500
- Financial income +€598,849
new in 2025: €598,849
of which Non-recurring financial income: +€596,915
- Gross operating margin -€145,755
down €145,755 (-91.1%), from €160,019 to €14,264
- Taxes +€27,512
up €27,512 (+135%), from €20,435 to €47,948
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 | €1,723,479 | €1,341,334 | -€382,145 | -22.2% |
| Fixed assets | 21/28 | €1,614,159 | €971,580 | -€642,579 | -39.8% |
| Tangible fixed assets | 22/27 | €1,010,554 | €971,580 | -€38,975 | -3.9% |
| Land and buildings | 22 | €965,415 | €937,153 | -€28,262 | -2.9% |
| Plant, machinery and equipment | 23 | €4,428 | €3,430 | -€998 | -22.5% |
| Furniture and vehicles | 24 | €40,711 | €30,996 | -€9,715 | -23.9% |
| Financial fixed assets | 28 | €603,605 | €0 | -€603,605 | -100% |
| Current assets | 29/58 | €109,320 | €369,754 | +€260,434 | +238% |
| Amounts receivable after more than one year | 29 | - | €117,000 | +€117,000 | |
| Other amounts receivable | 291 | - | €117,000 | +€117,000 | |
| Amounts receivable within one year | 40/41 | €76,057 | €77,485 | +€1,428 | +1.9% |
| Trade receivables | 40 | €76,057 | €19,569 | -€56,488 | -74.3% |
| Other amounts receivable | 41 | €0 | €57,916 | +€57,916 | |
| Cash at bank and in hand | 54/58 | €31,713 | €169,825 | +€138,112 | +436% |
| Deferred charges and accrued income | 490/1 | €1,550 | €5,444 | +€3,894 | +251% |
| Total equity and liabilities | 10/49 | €1,723,479 | €1,341,334 | -€382,145 | -22.2% |
| Equity | 10/15 | €399,294 | €877,282 | +€477,988 | +120% |
| Contributions | 10/11 | €276,200 | €276,200 | = | 0.0% |
| Reserves | 13 | €123,094 | €601,082 | +€477,988 | +388% |
| Distributable reserves | 133 | €123,094 | €601,082 | +€477,988 | +388% |
| Amounts payable | 17/49 | €1,324,185 | €464,051 | -€860,133 | -65.0% |
| Amounts payable after more than one year | 17 | €392,500 | €362,500 | -€30,000 | -7.6% |
| Financial debts | 170/4 | €392,500 | €362,500 | -€30,000 | -7.6% |
| Amounts payable within one year | 42/48 | €931,204 | €101,056 | -€830,147 | -89.1% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €355 | €1,862 | +€1,507 | +424% |
| Suppliers | 440/4 | €355 | €1,862 | +€1,507 | +424% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €9,925 | €62,073 | +€52,148 | +525% |
| Taxes | 450/3 | €7,925 | €62,073 | +€54,148 | +683% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | €890,923 | €7,121 | -€883,802 | -99.2% |
| Accrued charges and deferred income | 492/3 | €481 | €495 | +€14 | +2.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,453 | €71,865 | +€412 | +0.6% |
| Other operating charges | 640/8 | €8,017 | €8,326 | +€309 | +3.9% |
| Non-recurring operating charges | 66A | €0 | €63 | +€63 | |
| Gross operating margin | 9900 | €160,019 | €14,264 | -€145,755 | -91.1% |
| Operating profit (loss) | 9901 | €80,549 | -€65,991 | -€146,540 | |
| Financial income | 75/76B | - | €598,849 | +€598,849 | |
| Recurring financial income | 75 | - | €1,934 | +€1,934 | |
| Non-recurring financial income | 76B | - | €596,915 | +€596,915 | |
| Financial charges | 65/66B | €7,345 | €6,922 | -€423 | -5.8% |
| Recurring financial charges | 65 | €7,345 | €6,922 | -€423 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €73,204 | €525,936 | +€452,732 | +618% |
| Income taxes | 67/77 | €20,435 | €47,948 | +€27,512 | +135% |
| Profit (loss) for the period | 9904 | €52,769 | €477,988 | +€425,219 | +806% |
| Profit (loss) for the period to be appropriated | 9905 | €52,769 | €477,988 | +€425,219 | +806% |
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 30 October 2026 via checked.be.