PER SPINAM: 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.
PER SPINAM
Largest movements
- Cash -€53,273
down €53,273 (-42.4%), from €125,701 to €72,428
mainly Debts after one year (-€100,489) and Investment in fixed assets (net) (-€64,896)
- Tangible fixed assets -€28,246
down €28,246 (-1.8%), from €1.6m to €1.6m
of which Plant, machinery and equipment: -€22,129
- Debts after one year -€100,489
down €100,489 (-10.9%), from €919,788 to €819,300
- Reserves +€70,671
up €70,671 (+25.7%), from €274,890 to €345,561
of which Distributable reserves: +€70,671
- Other debts -€45,416
down €45,416 (-12.9%), from €352,393 to €306,977
- Tax, wage and social debts -€40,668
down €40,668 (-80.1%), from €50,784 to €10,116
of which Taxes: -€41,073
- Trade debts +€33,061
up €33,061 (+793%), from €4,169 to €37,231
- Taxes -€7,277
down €7,277 (-19.4%), from €37,467 to €30,190
- Depreciation +€3,339
up €3,339 (+3.6%), from €93,370 to €96,709
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 | €1,735,728 | €1,661,979 | -€73,749 | -4.2% |
| Fixed assets | 21/28 | €1,601,299 | €1,569,486 | -€31,812 | -2.0% |
| Intangible fixed assets | 21 | €7,511 | €3,945 | -€3,566 | -47.5% |
| Tangible fixed assets | 22/27 | €1,593,787 | €1,565,541 | -€28,246 | -1.8% |
| Land and buildings | 22 | €258,540 | €248,514 | -€10,026 | -3.9% |
| Plant, machinery and equipment | 23 | €39,013 | €16,884 | -€22,129 | -56.7% |
| Furniture and vehicles | 24 | €3,894 | €26,605 | +€22,711 | +583% |
| Other tangible fixed assets | 26 | €1,292,340 | €1,273,537 | -€18,803 | -1.5% |
| Current assets | 29/58 | €134,430 | €92,493 | -€41,937 | -31.2% |
| Stocks and contracts in progress | 3 | €7,268 | €1,325 | -€5,943 | -81.8% |
| Stocks | 30/36 | €7,268 | €1,325 | -€5,943 | -81.8% |
| Amounts receivable within one year | 40/41 | €144 | €15,971 | +€15,827 | +10,991% |
| Trade receivables | 40 | €144 | €1,040 | +€896 | +622% |
| Other amounts receivable | 41 | €0 | €14,931 | +€14,931 | |
| Cash at bank and in hand | 54/58 | €125,701 | €72,428 | -€53,273 | -42.4% |
| Deferred charges and accrued income | 490/1 | €1,317 | €2,769 | +€1,452 | +110% |
| Total equity and liabilities | 10/49 | €1,735,728 | €1,661,979 | -€73,749 | -4.2% |
| Equity | 10/15 | €293,490 | €364,161 | +€70,671 | +24.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €274,890 | €345,561 | +€70,671 | +25.7% |
| Tax-exempt reserves | 132 | €10,216 | €10,216 | = | 0.0% |
| Distributable reserves | 133 | €264,674 | €335,346 | +€70,671 | +26.7% |
| Amounts payable | 17/49 | €1,442,239 | €1,297,818 | -€144,421 | -10.0% |
| Amounts payable after more than one year | 17 | €919,788 | €819,300 | -€100,489 | -10.9% |
| Financial debts | 170/4 | €919,788 | €819,300 | -€100,489 | -10.9% |
| Amounts payable within one year | 42/48 | €522,450 | €455,269 | -€67,182 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €115,103 | €100,489 | -€14,615 | -12.7% |
| Financial debts | 43 | - | €456 | +€456 | |
| Credit institutions | 430/8 | - | €456 | +€456 | |
| Trade debts | 44 | €4,169 | €37,231 | +€33,061 | +793% |
| Suppliers | 440/4 | €4,169 | €37,231 | +€33,061 | +793% |
| Taxes, remuneration and social security | 45 | €50,784 | €10,116 | -€40,668 | -80.1% |
| Taxes | 450/3 | €41,073 | - | -€41,073 | |
| Remuneration and social security | 454/9 | €9,712 | €10,116 | +€405 | +4.2% |
| Other amounts payable | 47/48 | €352,393 | €306,977 | -€45,416 | -12.9% |
| Accrued charges and deferred income | 492/3 | €0 | €23,250 | +€23,250 | |
| Remuneration, social security and pensions | 62 | €54,669 | €56,877 | +€2,209 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,370 | €96,709 | +€3,339 | +3.6% |
| Other operating charges | 640/8 | €4,160 | €3,879 | -€281 | -6.8% |
| Gross operating margin | 9900 | €290,463 | €292,657 | +€2,194 | +0.8% |
| Operating profit (loss) | 9901 | €138,264 | €135,192 | -€3,072 | -2.2% |
| Financial income | 75/76B | €167 | €459 | +€293 | +176% |
| Recurring financial income | 75 | €167 | €459 | +€293 | +176% |
| Financial charges | 65/66B | €32,699 | €34,790 | +€2,091 | +6.4% |
| Recurring financial charges | 65 | €32,699 | €34,790 | +€2,091 | +6.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €105,732 | €100,862 | -€4,870 | -4.6% |
| Income taxes | 67/77 | €37,467 | €30,190 | -€7,277 | -19.4% |
| Profit (loss) for the period | 9904 | €68,265 | €70,671 | +€2,407 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,265 | €70,671 | +€2,407 | +3.5% |
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 21 October 2026 via checked.be.