MARGO SPRUYTTE: what changed
MARGO SPRUYTTE
Largest movements
- Receivables within one year +€9,899
up €9,899 (+61.2%), from €16,162 to €26,061
of which Trade receivables: +€5,866
- Tangible fixed assets -€4,510
down €4,510 (-18.2%), from €24,800 to €20,289
of which Furniture and vehicles: -€4,860
- Cash +€4,423
up €4,423 (+13.3%), from €33,184 to €37,607
mainly Net result for the year (+€12,007) and Depreciation (+€5,983)
- Reserves +€12,007
up €12,007 (+34.1%), from €35,201 to €47,208
- Debts after one year -€5,221
down €5,221 (-31.6%), from €16,501 to €11,279
- Tax, wage and social debts +€4,491
up €4,491 (+31.2%), from €14,413 to €18,904
of which Taxes: +€4,462
- Trade debts -€1,168
down €1,168 (-73.2%), from €1,597 to €429
- Gross operating margin -€28,143
down €28,143 (-54.7%), from €51,429 to €23,286
- Taxes -€5,485
down €5,485 (-54.9%), from €9,984 to €4,499
- Depreciation +€2,256
up €2,256 (+60.5%), from €3,727 to €5,983
- Financial income +€1,015
new in 2025: €1,015
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
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €76,732 | €86,041 | +€9,310 | +12.1% |
| Fixed assets | 21/28 | €26,498 | €21,788 | -€4,710 | -17.8% |
| Intangible fixed assets | 21 | €873 | €673 | -€200 | -22.9% |
| Tangible fixed assets | 22/27 | €24,800 | €20,289 | -€4,510 | -18.2% |
| Plant, machinery and equipment | 23 | €3,580 | €2,760 | -€820 | -22.9% |
| Furniture and vehicles | 24 | €21,219 | €16,359 | -€4,860 | -22.9% |
| Other tangible fixed assets | 26 | - | €1,170 | +€1,170 | |
| Financial fixed assets | 28 | €825 | €825 | = | 0.0% |
| Current assets | 29/58 | €50,234 | €64,254 | +€14,020 | +27.9% |
| Amounts receivable within one year | 40/41 | €16,162 | €26,061 | +€9,899 | +61.2% |
| Trade receivables | 40 | - | €5,866 | +€5,866 | |
| Other amounts receivable | 41 | €16,162 | €20,195 | +€4,033 | +25.0% |
| Cash at bank and in hand | 54/58 | €33,184 | €37,607 | +€4,423 | +13.3% |
| Deferred charges and accrued income | 490/1 | €887 | €586 | -€302 | -34.0% |
| Total equity and liabilities | 10/49 | €76,732 | €86,041 | +€9,310 | +12.1% |
| Equity | 10/15 | €38,201 | €50,208 | +€12,007 | +31.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €35,201 | €47,208 | +€12,007 | +34.1% |
| Distributable reserves | 133 | €35,201 | €47,208 | +€12,007 | +34.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,530 | €35,834 | -€2,697 | -7.0% |
| Amounts payable after more than one year | 17 | €16,501 | €11,279 | -€5,221 | -31.6% |
| Financial debts | 170/4 | €16,501 | €11,279 | -€5,221 | -31.6% |
| Amounts payable within one year | 42/48 | €21,830 | €24,554 | +€2,725 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €4,961 | €5,221 | +€260 | +5.2% |
| Trade debts | 44 | €1,597 | €429 | -€1,168 | -73.2% |
| Suppliers | 440/4 | €1,597 | €429 | -€1,168 | -73.2% |
| Taxes, remuneration and social security | 45 | €14,413 | €18,904 | +€4,491 | +31.2% |
| Taxes | 450/3 | €10,847 | €15,309 | +€4,462 | +41.1% |
| Remuneration and social security | 454/9 | €3,566 | €3,596 | +€29 | +0.8% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100% |
| Accrued charges and deferred income | 492/3 | €200 | €0 | -€200 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,727 | €5,983 | +€2,256 | +60.5% |
| Other operating charges | 640/8 | €478 | €478 | +€0 | 0.0% |
| Gross operating margin | 9900 | €51,429 | €23,286 | -€28,143 | -54.7% |
| Operating profit (loss) | 9901 | €47,224 | €16,825 | -€30,399 | -64.4% |
| Financial income | 75/76B | - | €1,015 | +€1,015 | |
| Recurring financial income | 75 | - | €1,015 | +€1,015 | |
| Financial charges | 65/66B | €1,180 | €1,334 | +€154 | +13.1% |
| Recurring financial charges | 65 | €1,180 | €1,334 | +€154 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €46,044 | €16,506 | -€29,538 | -64.2% |
| Income taxes | 67/77 | €9,984 | €4,499 | -€5,485 | -54.9% |
| Profit (loss) for the period | 9904 | €36,060 | €12,007 | -€24,054 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,060 | €12,007 | -€24,054 | -66.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 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.