S.P.C.: 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.
S.P.C.
Largest movements
- Cash +€189,196
up €189,196 (+1870.2%), from €10,116 to €199,312
mainly Receivables within one year (+€185,622) and Net result for the year (+€101,524)
- Receivables within one year -€185,622
down €185,622 (-99.4%), from €186,682 to €1,060
- Tangible fixed assets -€2,310
down €2,310 (-72.6%), from €3,179 to €870
of which Plant, machinery and equipment: -€1,558
- Other debts +€70,000
up €70,000 (+69.9%), from €100,118 to €170,118
- Profit (loss) carried forward -€68,476
down €68,476 (-94.3%), from €72,599 to €4,123
- Gross operating margin +€14,822
up €14,822 (+11.3%), from €131,419 to €146,241
- Taxes +€2,622
up €2,622 (+8.4%), from €31,318 to €33,940
- Other operating charges +€2,010
up €2,010 (+32.5%), from €6,184 to €8,195
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.
Cash bridge derived
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 | €199,978 | €201,241 | +€1,264 | +0.6% |
| Fixed assets | 21/28 | €3,179 | €870 | -€2,310 | -72.6% |
| Tangible fixed assets | 22/27 | €3,179 | €870 | -€2,310 | -72.6% |
| Plant, machinery and equipment | 23 | €2,202 | €644 | -€1,558 | -70.7% |
| Furniture and vehicles | 24 | €977 | €226 | -€752 | -76.9% |
| Current assets | 29/58 | €196,798 | €200,372 | +€3,574 | +1.8% |
| Amounts receivable within one year | 40/41 | €186,682 | €1,060 | -€185,622 | -99.4% |
| Other amounts receivable | 41 | €186,682 | €1,060 | -€185,622 | -99.4% |
| Cash at bank and in hand | 54/58 | €10,116 | €199,312 | +€189,196 | +1870.2% |
| Total equity and liabilities | 10/49 | €199,978 | €201,241 | +€1,264 | +0.6% |
| Equity | 10/15 | €99,599 | €31,123 | -€68,476 | -68.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,599 | €4,123 | -€68,476 | -94.3% |
| Amounts payable | 17/49 | €100,379 | €170,118 | +€69,740 | +69.5% |
| Amounts payable within one year | 42/48 | €100,379 | €170,118 | +€69,740 | +69.5% |
| Taxes, remuneration and social security | 45 | €260 | - | -€260 | |
| Taxes | 450/3 | €260 | - | -€260 | |
| Other amounts payable | 47/48 | €100,118 | €170,118 | +€70,000 | +69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,310 | €2,310 | = | 0.0% |
| Other operating charges | 640/8 | €6,184 | €8,195 | +€2,010 | +32.5% |
| Non-recurring operating charges | 66A | €411 | - | -€411 | |
| Gross operating margin | 9900 | €131,419 | €146,241 | +€14,822 | +11.3% |
| Operating profit (loss) | 9901 | €122,515 | €135,737 | +€13,222 | +10.8% |
| Financial charges | 65/66B | €319 | €273 | -€47 | -14.7% |
| Recurring financial charges | 65 | €319 | €273 | -€47 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €122,195 | €135,464 | +€13,269 | +10.9% |
| Income taxes | 67/77 | €31,318 | €33,940 | +€2,622 | +8.4% |
| Profit (loss) for the period | 9904 | €90,877 | €101,524 | +€10,647 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,877 | €101,524 | +€10,647 | +11.7% |
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 10 October 2026 via checked.be.