H-SPIERE: 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.
H-SPIERE
Largest movements
- Tangible fixed assets -€4,316
down €4,316 (-7.4%), from €58,597 to €54,280
of which Plant, machinery and equipment: -€2,498
- Other debts +€8,746
up €8,746 (+189%), from €4,618 to €13,365
- Debts after one year -€8,689
down €8,689 (-7.9%), from €109,558 to €100,869
of which Financial debts: -€8,689
- Profit (loss) carried forward -€5,730
down €5,730 (-7.0%), from -€82,297 to -€88,027
- Trade debts +€787
new in 2025: €787
- Gross operating margin +€1,189
up €1,189 (+50.5%), from €2,357 to €3,546
- Depreciation -€296
down €296 (-6.4%), from €4,612 to €4,316
- Financial charges -€254
down €254 (-9.3%), from €2,723 to €2,469
- Other operating charges +€126
up €126 (+5.5%), from €2,289 to €2,414
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 | €59,130 | €54,361 | -€4,769 | -8.1% |
| Fixed assets | 21/28 | €58,597 | €54,280 | -€4,316 | -7.4% |
| Tangible fixed assets | 22/27 | €58,597 | €54,280 | -€4,316 | -7.4% |
| Land and buildings | 22 | €41,818 | €40,000 | -€1,818 | -4.3% |
| Plant, machinery and equipment | 23 | €16,779 | €14,280 | -€2,498 | -14.9% |
| Current assets | 29/58 | €533 | €80 | -€453 | -84.9% |
| Cash at bank and in hand | 54/58 | €533 | €80 | -€453 | -84.9% |
| Total equity and liabilities | 10/49 | €59,130 | €54,361 | -€4,769 | -8.1% |
| Equity | 10/15 | -€63,697 | -€69,427 | -€5,730 | -9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,297 | -€88,027 | -€5,730 | -7.0% |
| Amounts payable | 17/49 | €122,827 | €123,788 | +€961 | +0.8% |
| Amounts payable after more than one year | 17 | €109,558 | €100,869 | -€8,689 | -7.9% |
| Financial debts | 170/4 | €106,658 | €97,969 | -€8,689 | -8.1% |
| Other amounts payable | 178/9 | €2,900 | €2,900 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,269 | €22,919 | +€9,649 | +72.7% |
| Current portion of amounts payable after more than one year | 42 | €8,507 | €8,691 | +€185 | +2.2% |
| Trade debts | 44 | - | €787 | +€787 | |
| Suppliers | 440/4 | - | €787 | +€787 | |
| Taxes, remuneration and social security | 45 | €144 | €76 | -€68 | -47.2% |
| Taxes | 450/3 | €144 | €76 | -€68 | -47.2% |
| Other amounts payable | 47/48 | €4,618 | €13,365 | +€8,746 | +189% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,612 | €4,316 | -€296 | -6.4% |
| Other operating charges | 640/8 | €2,289 | €2,414 | +€126 | +5.5% |
| Gross operating margin | 9900 | €2,357 | €3,546 | +€1,189 | +50.5% |
| Operating profit (loss) | 9901 | -€4,544 | -€3,184 | +€1,360 | +29.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,723 | €2,469 | -€254 | -9.3% |
| Recurring financial charges | 65 | €2,723 | €2,469 | -€254 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,267 | -€5,654 | +€1,613 | +22.2% |
| Income taxes | 67/77 | €74 | €76 | +€3 | +3.6% |
| Profit (loss) for the period | 9904 | -€7,340 | -€5,730 | +€1,611 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,340 | -€5,730 | +€1,611 | +21.9% |
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 19 October 2026 via checked.be.