S.P. INVEST: what changed
S.P. INVEST
Largest movements
- Receivables within one year +€59,060
up €59,060 (+168%), from €35,248 to €94,308
- Cash -€3,200
down €3,200 (-48.4%), from €6,616 to €3,416
mainly Receivables within one year (-€59,060) and Investment in fixed assets (net) (-€1,131)
- Profit (loss) carried forward +€35,596
up €35,596 (+179%), from €19,938 to €55,534
- Other debts +€12,947
up €12,947 (+152%), from €8,500 to €21,447
- Tax, wage and social debts +€8,632
up €8,632 (+78.0%), from €11,071 to €19,703
of which Taxes: +€7,238
- Gross operating margin +€20,684
up €20,684 (+82.4%), from €25,111 to €45,795
- Taxes +€4,099
up €4,099 (+81.2%), from €5,045 to €9,144
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 | €43,477 | €100,084 | +€56,607 | +130% |
| Fixed assets | 21/28 | €1,614 | €2,361 | +€747 | +46.3% |
| Tangible fixed assets | 22/27 | €1,614 | €2,361 | +€747 | +46.3% |
| Furniture and vehicles | 24 | - | €1,087 | +€1,087 | |
| Other tangible fixed assets | 26 | €1,614 | €1,274 | -€340 | -21.1% |
| Current assets | 29/58 | €41,864 | €97,723 | +€55,859 | +133% |
| Amounts receivable within one year | 40/41 | €35,248 | €94,308 | +€59,060 | +168% |
| Trade receivables | 40 | €35,248 | €94,308 | +€59,060 | +168% |
| Cash at bank and in hand | 54/58 | €6,616 | €3,416 | -€3,200 | -48.4% |
| Total equity and liabilities | 10/49 | €43,477 | €100,084 | +€56,607 | +130% |
| Equity | 10/15 | €22,938 | €58,534 | +€35,596 | +155% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,938 | €55,534 | +€35,596 | +179% |
| Amounts payable | 17/49 | €20,539 | €41,550 | +€21,011 | +102% |
| Amounts payable within one year | 42/48 | €20,539 | €41,550 | +€21,011 | +102% |
| Trade debts | 44 | €968 | €400 | -€568 | -58.7% |
| Suppliers | 440/4 | €968 | €400 | -€568 | -58.7% |
| Taxes, remuneration and social security | 45 | €11,071 | €19,703 | +€8,632 | +78.0% |
| Taxes | 450/3 | €8,715 | €15,953 | +€7,238 | +83.0% |
| Remuneration and social security | 454/9 | €2,356 | €3,750 | +€1,394 | +59.2% |
| Other amounts payable | 47/48 | €8,500 | €21,447 | +€12,947 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86 | €384 | +€298 | +345% |
| Other operating charges | 640/8 | - | €409 | +€409 | |
| Gross operating margin | 9900 | €25,111 | €45,795 | +€20,684 | +82.4% |
| Operating profit (loss) | 9901 | €25,024 | €45,001 | +€19,977 | +79.8% |
| Financial charges | 65/66B | €41 | €261 | +€220 | +537% |
| Recurring financial charges | 65 | €41 | €261 | +€220 | +537% |
| Profit (loss) for the period before taxes | 9903 | €24,983 | €44,740 | +€19,757 | +79.1% |
| Income taxes | 67/77 | €5,045 | €9,144 | +€4,099 | +81.2% |
| Profit (loss) for the period | 9904 | €19,938 | €35,596 | +€15,658 | +78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,938 | €35,596 | +€15,658 | +78.5% |
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 6 November 2026 via checked.be.