JOSEPH SPAAS: 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.
JOSEPH SPAAS
Largest movements
- Cash +€115,932
up €115,932 (+291%), from €39,902 to €155,834
mainly Current investments (+€100,000) and Other debts (+€14,453)
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Other debts +€14,453
up €14,453 (+95.4%), from €15,151 to €29,603
- Gross operating margin -€25,298
down €25,298 (-98.5%), from €25,689 to €390
- Financial income +€3,075
up €3,075 (+895%), from €344 to €3,418
- Other operating charges +€869
up €869 (+38.5%), from €2,256 to €3,126
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 | €146,642 | €161,125 | +€14,483 | +9.9% |
| Current assets | 29/58 | €146,642 | €161,125 | +€14,483 | +9.9% |
| Stocks and contracts in progress | 3 | €429 | €0 | -€429 | -100% |
| Stocks | 30/36 | €429 | €0 | -€429 | -100% |
| Amounts receivable within one year | 40/41 | €1,221 | €1,644 | +€424 | +34.7% |
| Trade receivables | 40 | €1,120 | €0 | -€1,120 | -100% |
| Other amounts receivable | 41 | €101 | €1,644 | +€1,544 | +1,531% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €39,902 | €155,834 | +€115,932 | +291% |
| Deferred charges and accrued income | 490/1 | €5,091 | €3,647 | -€1,444 | -28.4% |
| Total equity and liabilities | 10/49 | €146,642 | €161,125 | +€14,483 | +9.9% |
| Equity | 10/15 | €127,594 | €128,277 | +€683 | +0.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €2,594 | €3,277 | +€683 | +26.3% |
| Distributable reserves | 133 | €2,594 | €3,277 | +€683 | +26.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €19,049 | €32,848 | +€13,800 | +72.4% |
| Amounts payable within one year | 42/48 | €19,049 | €32,211 | +€13,162 | +69.1% |
| Trade debts | 44 | €3,883 | €2,607 | -€1,275 | -32.8% |
| Suppliers | 440/4 | €3,883 | €2,607 | -€1,275 | -32.8% |
| Taxes, remuneration and social security | 45 | €15 | €0 | -€15 | -100% |
| Taxes | 450/3 | €15 | €0 | -€15 | -100% |
| Other amounts payable | 47/48 | €15,151 | €29,603 | +€14,453 | +95.4% |
| Accrued charges and deferred income | 492/3 | - | €638 | +€638 | |
| Other operating charges | 640/8 | €2,256 | €3,126 | +€869 | +38.5% |
| Gross operating margin | 9900 | €25,689 | €390 | -€25,298 | -98.5% |
| Operating profit (loss) | 9901 | €23,432 | -€2,735 | -€26,167 | |
| Financial income | 75/76B | €344 | €3,418 | +€3,075 | +895% |
| Recurring financial income | 75 | €344 | €3,418 | +€3,075 | +895% |
| Financial charges | 65/66B | €111 | €0 | -€111 | -100% |
| Recurring financial charges | 65 | €111 | €0 | -€111 | -100% |
| Profit (loss) for the period before taxes | 9903 | €23,665 | €683 | -€22,982 | -97.1% |
| Profit (loss) for the period | 9904 | €23,665 | €683 | -€22,982 | -97.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,665 | €683 | -€22,982 | -97.1% |
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.