Joseph Spinks: 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 Spinks
Largest movements
- Cash -€59,971
down €59,971 (-31.6%), from €189,978 to €130,007
mainly Contributions, distributions and other (-€150,000) and Tax, wage and social debts (-€31,273)
- Receivables within one year +€13,014
up €13,014 (+19.3%), from €67,343 to €80,357
of which Other amounts receivable: +€11,302
- Tangible fixed assets -€11,692
down €11,692 (-12.3%), from €94,764 to €83,072
of which Land and buildings: -€10,858
- Deferred charges and accrued income +€9,497
new in 2025: €9,497
- Tax, wage and social debts -€31,273
down €31,273 (-43.8%), from €71,320 to €40,047
- Other debts -€20,832
down €20,832 (-83.7%), from €24,881 to €4,050
- Reserves +€4,660
up €4,660 (+1.9%), from €240,159 to €244,819
- Gross operating margin +€37,356
up €37,356 (+19.5%), from €191,859 to €229,215
- Other operating charges +€4,494
up €4,494 (+72.1%), from €6,231 to €10,725
- Taxes -€3,785
down €3,785 (-7.1%), from €52,948 to €49,163
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 | €352,085 | €302,932 | -€49,153 | -14.0% |
| Fixed assets | 21/28 | €94,764 | €83,072 | -€11,692 | -12.3% |
| Tangible fixed assets | 22/27 | €94,764 | €83,072 | -€11,692 | -12.3% |
| Land and buildings | 22 | €85,237 | €74,379 | -€10,858 | -12.7% |
| Plant, machinery and equipment | 23 | €1,491 | €469 | -€1,022 | -68.6% |
| Furniture and vehicles | 24 | €8,036 | €8,224 | +€188 | +2.3% |
| Current assets | 29/58 | €257,321 | €219,860 | -€37,460 | -14.6% |
| Amounts receivable within one year | 40/41 | €67,343 | €80,357 | +€13,014 | +19.3% |
| Trade receivables | 40 | €67,343 | €69,055 | +€1,711 | +2.5% |
| Other amounts receivable | 41 | - | €11,302 | +€11,302 | |
| Cash at bank and in hand | 54/58 | €189,978 | €130,007 | -€59,971 | -31.6% |
| Deferred charges and accrued income | 490/1 | - | €9,497 | +€9,497 | |
| Total equity and liabilities | 10/49 | €352,085 | €302,932 | -€49,153 | -14.0% |
| Equity | 10/15 | €252,559 | €257,219 | +€4,660 | +1.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Share premium | 1100/10 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €240,159 | €244,819 | +€4,660 | +1.9% |
| Distributable reserves | 133 | €240,159 | €244,819 | +€4,660 | +1.9% |
| Amounts payable | 17/49 | €99,526 | €45,713 | -€53,813 | -54.1% |
| Amounts payable within one year | 42/48 | €99,526 | €45,713 | -€53,813 | -54.1% |
| Trade debts | 44 | €3,324 | €1,616 | -€1,709 | -51.4% |
| Suppliers | 440/4 | €3,324 | €1,616 | -€1,709 | -51.4% |
| Taxes, remuneration and social security | 45 | €71,320 | €40,047 | -€31,273 | -43.8% |
| Taxes | 450/3 | €71,320 | €40,047 | -€31,273 | -43.8% |
| Other amounts payable | 47/48 | €24,881 | €4,050 | -€20,832 | -83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,715 | €15,498 | +€783 | +5.3% |
| Other operating charges | 640/8 | €6,231 | €10,725 | +€4,494 | +72.1% |
| Gross operating margin | 9900 | €191,859 | €229,215 | +€37,356 | +19.5% |
| Operating profit (loss) | 9901 | €170,913 | €202,992 | +€32,079 | +18.8% |
| Financial income | 75/76B | €68 | €832 | +€763 | +1,115% |
| Recurring financial income | 75 | €68 | €832 | +€763 | +1,115% |
| Financial charges | 65/66B | €41 | €1 | -€40 | -98.1% |
| Recurring financial charges | 65 | €41 | €1 | -€40 | -98.1% |
| Profit (loss) for the period before taxes | 9903 | €170,941 | €203,823 | +€32,882 | +19.2% |
| Income taxes | 67/77 | €52,948 | €49,163 | -€3,785 | -7.1% |
| Profit (loss) for the period | 9904 | €117,993 | €154,660 | +€36,667 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €117,993 | €154,660 | +€36,667 | +31.1% |
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 15 October 2026 via checked.be.