Michael Sprengers: 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.
Michael Sprengers
Largest movements
- Receivables within one year -€49,467
down €49,467 (-77.3%), from €64,027 to €14,560
of which Other amounts receivable: -€35,778
- Cash -€32,279
down €32,279 (-54.6%), from €59,149 to €26,870
mainly Contributions, distributions and other (-€181,729) and Trade debts (-€8,241)
- Receivables after one year -€7,500
down €7,500 (-100%), from €7,500 to €0
- Reserves -€130,302
down €130,302 (-100%), from €130,302 to €0
- Other debts +€51,729
new in 2025: €51,729
- Trade debts -€8,241
down €8,241 (-84.8%), from €9,715 to €1,474
- Tax, wage and social debts -€3,635
down €3,635 (-15.3%), from €23,789 to €20,154
- Gross operating margin -€4,872
down €4,872 (-6.7%), from €72,902 to €68,031
- Financial income +€2,231
up €2,231 (+287%), from €778 to €3,009
- Depreciation +€831
up €831 (+21.5%), from €3,858 to €4,689
- Taxes -€783
down €783 (-5.5%), from €14,231 to €13,449
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 | €166,207 | €75,757 | -€90,450 | -54.4% |
| Fixed assets | 21/28 | €33,221 | €32,746 | -€475 | -1.4% |
| Tangible fixed assets | 22/27 | €33,221 | €32,746 | -€475 | -1.4% |
| Plant, machinery and equipment | 23 | €509 | €309 | -€200 | -39.3% |
| Furniture and vehicles | 24 | €9,028 | €2,573 | -€6,456 | -71.5% |
| Other tangible fixed assets | 26 | €23,684 | €29,865 | +€6,181 | +26.1% |
| Current assets | 29/58 | €132,985 | €43,010 | -€89,975 | -67.7% |
| Amounts receivable after more than one year | 29 | €7,500 | €0 | -€7,500 | -100% |
| Other amounts receivable | 291 | €7,500 | €0 | -€7,500 | -100% |
| Stocks and contracts in progress | 3 | €896 | €864 | -€32 | -3.6% |
| Stocks | 30/36 | €896 | €864 | -€32 | -3.6% |
| Amounts receivable within one year | 40/41 | €64,027 | €14,560 | -€49,467 | -77.3% |
| Trade receivables | 40 | €25,452 | €11,764 | -€13,688 | -53.8% |
| Other amounts receivable | 41 | €38,574 | €2,796 | -€35,778 | -92.8% |
| Cash at bank and in hand | 54/58 | €59,149 | €26,870 | -€32,279 | -54.6% |
| Deferred charges and accrued income | 490/1 | €1,414 | €717 | -€697 | -49.3% |
| Total equity and liabilities | 10/49 | €166,207 | €75,757 | -€90,450 | -54.4% |
| Equity | 10/15 | €132,702 | €2,400 | -€130,302 | -98.2% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €130,302 | €0 | -€130,302 | -100% |
| Distributable reserves | 133 | €130,302 | €0 | -€130,302 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €33,504 | €73,357 | +€39,853 | +119% |
| Amounts payable within one year | 42/48 | €33,504 | €73,357 | +€39,853 | +119% |
| Trade debts | 44 | €9,715 | €1,474 | -€8,241 | -84.8% |
| Suppliers | 440/4 | €9,715 | €1,474 | -€8,241 | -84.8% |
| Taxes, remuneration and social security | 45 | €23,789 | €20,154 | -€3,635 | -15.3% |
| Taxes | 450/3 | €23,789 | €20,154 | -€3,635 | -15.3% |
| Other amounts payable | 47/48 | - | €51,729 | +€51,729 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,858 | €4,689 | +€831 | +21.5% |
| Other operating charges | 640/8 | €525 | €905 | +€381 | +72.5% |
| Gross operating margin | 9900 | €72,902 | €68,031 | -€4,872 | -6.7% |
| Operating profit (loss) | 9901 | €68,520 | €62,437 | -€6,083 | -8.9% |
| Financial income | 75/76B | €778 | €3,009 | +€2,231 | +287% |
| Recurring financial income | 75 | €778 | €3,009 | +€2,231 | +287% |
| Financial charges | 65/66B | €905 | €571 | -€335 | -37.0% |
| Recurring financial charges | 65 | €905 | €571 | -€335 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €68,392 | €64,875 | -€3,518 | -5.1% |
| Income taxes | 67/77 | €14,231 | €13,449 | -€783 | -5.5% |
| Profit (loss) for the period | 9904 | €54,161 | €51,426 | -€2,735 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,161 | €51,426 | -€2,735 | -5.0% |
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 31 October 2026 via checked.be.