S-PARAZAR: 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-PARAZAR
Largest movements
- Cash +€80,307
up €80,307 (+32.0%), from €250,808 to €331,115
mainly Net result for the year (+€156,877) and Depreciation (+€2,923)
- Current investments +€75,000
up €75,000 (+100%), from €75,000 to €150,000
- Reserves +€156,877
new in 2025: €156,877
of which Distributable reserves: +€78,992
- Taxes +€8,439
up €8,439 (+17.4%), from €48,429 to €56,868
- Gross operating margin +€5,664
up €5,664 (+2.7%), from €212,707 to €218,371
- Financial income -€2,544
down €2,544 (-84.1%), from €3,027 to €482
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 | €467,827 | €625,557 | +€157,731 | +33.7% |
| Fixed assets | 21/28 | €6,214 | €6,717 | +€503 | +8.1% |
| Tangible fixed assets | 22/27 | €6,214 | €6,717 | +€503 | +8.1% |
| Furniture and vehicles | 24 | €1,302 | €1,375 | +€73 | +5.6% |
| Other tangible fixed assets | 26 | €4,912 | €5,342 | +€430 | +8.8% |
| Current assets | 29/58 | €461,613 | €618,840 | +€157,228 | +34.1% |
| Amounts receivable within one year | 40/41 | €132,607 | €133,236 | +€629 | +0.5% |
| Trade receivables | 40 | €132,490 | €133,236 | +€746 | +0.6% |
| Other amounts receivable | 41 | €117 | €0 | -€117 | -100% |
| Current investments | 50/53 | €75,000 | €150,000 | +€75,000 | +100% |
| Cash at bank and in hand | 54/58 | €250,808 | €331,115 | +€80,307 | +32.0% |
| Deferred charges and accrued income | 490/1 | €3,197 | €4,490 | +€1,292 | +40.4% |
| Total equity and liabilities | 10/49 | €467,827 | €625,557 | +€157,731 | +33.7% |
| Equity | 10/15 | €401,260 | €558,136 | +€156,877 | +39.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €156,877 | +€156,877 | |
| Tax-exempt reserves | 132 | - | €77,885 | +€77,885 | |
| Distributable reserves | 133 | - | €78,992 | +€78,992 | |
| Profit (loss) carried forward | 14 | €400,260 | €400,260 | = | 0.0% |
| Amounts payable | 17/49 | €66,567 | €67,421 | +€854 | +1.3% |
| Amounts payable within one year | 42/48 | €66,096 | €67,350 | +€1,254 | +1.9% |
| Trade debts | 44 | €2,467 | €2,637 | +€170 | +6.9% |
| Suppliers | 440/4 | €2,467 | €2,637 | +€170 | +6.9% |
| Taxes, remuneration and social security | 45 | €62,079 | €61,992 | -€87 | -0.1% |
| Taxes | 450/3 | €58,579 | €58,492 | -€87 | -0.1% |
| Remuneration and social security | 454/9 | €3,500 | €3,500 | = | 0.0% |
| Other amounts payable | 47/48 | €1,550 | €2,721 | +€1,170 | +75.5% |
| Accrued charges and deferred income | 492/3 | €471 | €71 | -€400 | -84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,619 | €2,923 | +€304 | +11.6% |
| Other operating charges | 640/8 | €396 | €1,103 | +€707 | +179% |
| Gross operating margin | 9900 | €212,707 | €218,371 | +€5,664 | +2.7% |
| Operating profit (loss) | 9901 | €209,692 | €214,345 | +€4,653 | +2.2% |
| Financial income | 75/76B | €3,027 | €482 | -€2,544 | -84.1% |
| Recurring financial income | 75 | €3,027 | €482 | -€2,544 | -84.1% |
| Financial charges | 65/66B | €1,411 | €1,083 | -€328 | -23.2% |
| Recurring financial charges | 65 | €1,411 | €1,083 | -€328 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €211,308 | €213,744 | +€2,436 | +1.2% |
| Income taxes | 67/77 | €48,429 | €56,868 | +€8,439 | +17.4% |
| Profit (loss) for the period | 9904 | €162,879 | €156,877 | -€6,003 | -3.7% |
| Transfer to tax-exempt reserves | 689 | - | €77,885 | +€77,885 | |
| Profit (loss) for the period to be appropriated | 9905 | €162,879 | €78,992 | -€83,888 | -51.5% |
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 27 October 2026 via checked.be.