Het Spoor: what changed
Het Spoor
Largest movements
- Tangible fixed assets -€19,754
down €19,754 (-12.8%), from €154,052 to €134,298
- Other debts +€96,400
up €96,400 (+32.0%), from €301,604 to €398,004
- Profit (loss) carried forward -€39,534
down €39,534 (-9.4%), from -€418,592 to -€458,126
- Short-term financial debts -€29,960
down €29,960 (-100%), from €29,960 to €0
- Current portion of long-term debt -€27,951
down €27,951 (-49.2%), from €56,859 to €28,909
- Reserves -€10,062
down €10,062 (-30.9%), from €32,524 to €22,462
of which Tax-exempt reserves: -€10,062
- Gross operating margin -€31,230
down €31,230, from €12,331 to -€18,899
- Financial charges -€9,101
down €9,101 (-64.8%), from €14,038 to €4,937
- Depreciation +€7,902
up €7,902 (+66.7%), from €11,853 to €19,754
- Other operating charges +€4,167
up €4,167 (+227%), from €1,839 to €6,005
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €154,061 | €135,692 | -€18,370 | -11.9% |
| Fixed assets | 21/28 | €154,052 | €134,298 | -€19,754 | -12.8% |
| Tangible fixed assets | 22/27 | €154,052 | €134,298 | -€19,754 | -12.8% |
| Land and buildings | 22 | €154,052 | €134,298 | -€19,754 | -12.8% |
| Current assets | 29/58 | €9 | €1,394 | +€1,385 | +15,594% |
| Cash at bank and in hand | 54/58 | €9 | €1,394 | +€1,385 | +15,594% |
| Total equity and liabilities | 10/49 | €154,061 | €135,692 | -€18,370 | -11.9% |
| Equity | 10/15 | -€324,068 | -€373,664 | -€49,596 | -15.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €32,524 | €22,462 | -€10,062 | -30.9% |
| Non-distributable reserves | 130/1 | €325 | €325 | = | 0.0% |
| Legal reserve | 130 | €325 | €325 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,199 | €22,137 | -€10,062 | -31.2% |
| Profit (loss) carried forward | 14 | -€418,592 | -€458,126 | -€39,534 | -9.4% |
| Amounts payable | 17/49 | €478,129 | €509,356 | +€31,226 | +6.5% |
| Amounts payable after more than one year | 17 | €89,707 | €81,709 | -€7,998 | -8.9% |
| Financial debts | 170/4 | €89,707 | €81,709 | -€7,998 | -8.9% |
| Amounts payable within one year | 42/48 | €388,423 | €427,647 | +€39,224 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €56,859 | €28,909 | -€27,951 | -49.2% |
| Financial debts | 43 | €29,960 | €0 | -€29,960 | -100% |
| Credit institutions | 430/8 | €29,960 | €0 | -€29,960 | -100% |
| Trade debts | 44 | - | €734 | +€734 | |
| Suppliers | 440/4 | - | €734 | +€734 | |
| Other amounts payable | 47/48 | €301,604 | €398,004 | +€96,400 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,853 | €19,754 | +€7,902 | +66.7% |
| Other operating charges | 640/8 | €1,839 | €6,005 | +€4,167 | +227% |
| Gross operating margin | 9900 | €12,331 | -€18,899 | -€31,230 | |
| Operating profit (loss) | 9901 | -€1,360 | -€44,659 | -€43,298 | -3,183% |
| Financial charges | 65/66B | €14,038 | €4,937 | -€9,101 | -64.8% |
| Recurring financial charges | 65 | €14,038 | €4,937 | -€9,101 | -64.8% |
| Profit (loss) for the period before taxes | 9903 | -€15,398 | -€49,596 | -€34,197 | -222% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€15,398 | -€49,596 | -€34,197 | -222% |
| Transfer from tax-exempt reserves | 789 | €8,050 | €10,062 | +€2,012 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,349 | -€39,534 | -€32,185 | -438% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.