DE SPEYEBEEK: 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.
What changed
DE SPEYEBEEK
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · -€456,327+€1.9m
Equity
€469,327
2024 · -€987,289+€1.5m
Cash
€1,872
2024 · €33,514-€31,642
Balance sheet total
€6.3m
2024 · €6.5m-€207,085
Largest movements
Assets
- Current investments -€159,317
down €159,317 (-16.8%), from €950,806 to €791,489
Equity and liabilities
- Debts after one year -€1.5m
down €1.5m (-68.8%), from €2.2m to €674,469
- Profit (loss) carried forward +€1.5m
up €1.5m (+9.9%), from -€14.7m to -€13.3m
- Other debts -€136,000
down €136,000 (-2.8%), from €4.9m to €4.8m
Income statement
- Financial income +€2.0m
up €2.0m (+8,585%), from €23,408 to €2.0m
of which Financial income: +€1.5m
- Write-downs +€231,863
up €231,863, from -€231,863 to €0
- Financial charges -€216,143
down €216,143 (-27.4%), from €788,719 to €572,576
of which Financial charges: -€265,133
- Provisions +€73,645
up €73,645 (+99.9%), from -€73,701 to -€56
- Gross operating margin -€7,435
down €7,435, from €4,458 to -€2,977
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.
Result 2024
-€456,327
Gross operating margin
-€7,435
Write-downs
-€231,863
Provisions
-€73,645
Other operating charges
-€2,730
Financial income
+€2.0m
Financial charges
+€216,143
Taxes
+€2,900
Result 2025
€1.5m
raises the resultlowers the result
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.
From operations
+€1.3m
Investment
+€175,936
Financing
-€1.5m
Cash 2024
€33,514
From operations (derived)
+€1.3m
Net result for the year
+€1.5m
Receivables after one year
+€55,963
Smaller working-capital items
+€1,177
Receivables within one year
-€57,689
Trade debts
-€9,207
Other debts
-€136,000
Accrued charges and deferred income
-€34,152
Investment (derived)
+€175,936
Investment in fixed assets (net)
+€16,618
Current investments
+€159,317
Financing
-€1.5m
Debts after one year
-€1.5m
Cash 2025
€1,872
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,476,939 | €6,269,853 | -€207,085 | -3.2% |
| Fixed assets | 21/28 | €4,914,915 | €4,898,296 | -€16,618 | -0.3% |
| Tangible fixed assets | 22/27 | €319,891 | €319,891 | = | 0.0% |
| Other tangible fixed assets | 26 | €319,891 | €319,891 | = | 0.0% |
| Financial fixed assets | 28 | €4,595,023 | €4,578,405 | -€16,618 | -0.4% |
| Current assets | 29/58 | €1,562,024 | €1,371,557 | -€190,467 | -12.2% |
| Amounts receivable after more than one year | 29 | €55,963 | €0 | -€55,963 | -100% |
| Other amounts receivable | 291 | €55,963 | €0 | -€55,963 | -100% |
| Stocks and contracts in progress | 3 | €77,149 | €75,665 | -€1,484 | -1.9% |
| Stocks | 30/36 | €77,149 | €75,665 | -€1,484 | -1.9% |
| Amounts receivable within one year | 40/41 | €175,919 | €233,607 | +€57,689 | +32.8% |
| Trade receivables | 40 | €169,618 | €226,156 | +€56,538 | +33.3% |
| Other amounts receivable | 41 | €6,301 | €7,451 | +€1,150 | +18.3% |
| Current investments | 50/53 | €950,806 | €791,489 | -€159,317 | -16.8% |
| Cash at bank and in hand | 54/58 | €33,514 | €1,872 | -€31,642 | -94.4% |
| Deferred charges and accrued income | 490/1 | €268,673 | €268,924 | +€251 | +0.1% |
| Total equity and liabilities | 10/49 | €6,476,939 | €6,269,853 | -€207,085 | -3.2% |
| Equity | 10/15 | -€987,289 | €469,327 | +€1.5m | |
| Contributions | 10/11 | €12,500,000 | €12,500,000 | = | 0.0% |
| Capital | 10 | €12,500,000 | €12,500,000 | = | 0.0% |
| Issued capital | 100 | €12,500,000 | €12,500,000 | = | 0.0% |
| Reserves | 13 | €1,250,000 | €1,250,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,250,000 | €1,250,000 | = | 0.0% |
| Legal reserve | 130 | €1,250,000 | €1,250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,737,289 | -€13,280,673 | +€1.5m | +9.9% |
| Provisions and deferred taxes | 16 | €158,364 | €158,308 | -€56 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €158,364 | €158,308 | -€56 | 0.0% |
| Other liabilities and charges | 164/5 | €158,364 | €158,308 | -€56 | 0.0% |
| Amounts payable | 17/49 | €7,305,863 | €5,642,218 | -€1.7m | -22.8% |
| Amounts payable after more than one year | 17 | €2,158,755 | €674,469 | -€1.5m | -68.8% |
| Other amounts payable | 178/9 | €2,158,755 | €674,469 | -€1.5m | -68.8% |
| Amounts payable within one year | 42/48 | €5,045,279 | €4,900,072 | -€145,207 | -2.9% |
| Trade debts | 44 | €133,478 | €124,271 | -€9,207 | -6.9% |
| Suppliers | 440/4 | €133,478 | €124,271 | -€9,207 | -6.9% |
| Other amounts payable | 47/48 | €4,911,801 | €4,775,801 | -€136,000 | -2.8% |
| Accrued charges and deferred income | 492/3 | €101,829 | €67,677 | -€34,152 | -33.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€231,863 | €0 | +€231,863 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€73,701 | -€56 | +€73,645 | +99.9% |
| Other operating charges | 640/8 | €1,037 | €3,768 | +€2,730 | +263% |
| Gross operating margin | 9900 | €4,458 | -€2,977 | -€7,435 | |
| Operating profit (loss) | 9901 | €308,984 | -€6,688 | -€315,673 | |
| Financial income | 75/76B | €23,408 | €2,032,981 | +€2.0m | +8,585% |
| Recurring financial income | 75 | €17,640 | €1,483,682 | +€1.5m | +8,311% |
| Non-recurring financial income | 76B | €5,768 | €549,299 | +€543,531 | +9,423% |
| Financial charges | 65/66B | €788,719 | €572,576 | -€216,143 | -27.4% |
| Recurring financial charges | 65 | €333,102 | €67,970 | -€265,133 | -79.6% |
| Non-recurring financial charges | 66B | €455,617 | €504,607 | +€48,990 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | -€456,327 | €1,453,716 | +€1.9m | |
| Income taxes | 67/77 | €0 | -€2,900 | -€2,900 | |
| Profit (loss) for the period | 9904 | -€456,327 | €1,456,616 | +€1.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€456,327 | €1,456,616 | +€1.9m |
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 15 October 2026 via checked.be.