SI-Spine: 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.
SI-Spine
Largest movements
- Receivables after one year -€50,000
down €50,000 (-100%), from €50,000 to €0
- Cash +€11,941
up €11,941 (+21.3%), from €56,075 to €68,017
mainly Receivables after one year (+€50,000) and Net result for the year (+€15,951)
- Tangible fixed assets -€8,104
down €8,104 (-14.0%), from €57,979 to €49,876
of which Furniture and vehicles: -€11,813
- Receivables within one year -€6,276
down €6,276 (-10.6%), from €59,468 to €53,192
of which Trade receivables: -€17,374
- Deferred charges and accrued income -€6,186
down €6,186 (-78.1%), from €7,922 to €1,735
- Reserves -€44,494
down €44,494 (-29.2%), from €152,213 to €107,719
- Debts after one year -€8,134
down €8,134 (-20.0%), from €40,597 to €32,463
- Trade debts -€5,035
down €5,035 (-42.3%), from €11,894 to €6,858
- Gross operating margin -€25,153
down €25,153 (-37.1%), from €67,775 to €42,622
- Taxes -€5,609
down €5,609 (-37.8%), from €14,830 to €9,221
- Depreciation +€1,184
up €1,184 (+10.0%), from €11,816 to €13,000
- Other operating charges -€1,019
down €1,019 (-24.4%), from €4,171 to €3,152
- Financial charges -€752
down €752 (-25.0%), from €3,007 to €2,255
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 | €231,444 | €172,820 | -€58,625 | -25.3% |
| Fixed assets | 21/28 | €57,979 | €49,876 | -€8,104 | -14.0% |
| Tangible fixed assets | 22/27 | €57,979 | €49,876 | -€8,104 | -14.0% |
| Furniture and vehicles | 24 | €48,478 | €36,665 | -€11,813 | -24.4% |
| Other tangible fixed assets | 26 | €9,502 | €13,211 | +€3,709 | +39.0% |
| Current assets | 29/58 | €173,465 | €122,944 | -€50,521 | -29.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €0 | -€50,000 | -100% |
| Other amounts receivable | 291 | €50,000 | €0 | -€50,000 | -100% |
| Amounts receivable within one year | 40/41 | €59,468 | €53,192 | -€6,276 | -10.6% |
| Trade receivables | 40 | €53,567 | €36,193 | -€17,374 | -32.4% |
| Other amounts receivable | 41 | €5,901 | €16,999 | +€11,098 | +188% |
| Cash at bank and in hand | 54/58 | €56,075 | €68,017 | +€11,941 | +21.3% |
| Deferred charges and accrued income | 490/1 | €7,922 | €1,735 | -€6,186 | -78.1% |
| Total equity and liabilities | 10/49 | €231,444 | €172,820 | -€58,625 | -25.3% |
| Equity | 10/15 | €158,413 | €113,919 | -€44,494 | -28.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €152,213 | €107,719 | -€44,494 | -29.2% |
| Distributable reserves | 133 | €152,213 | €107,719 | -€44,494 | -29.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €73,031 | €58,901 | -€14,130 | -19.3% |
| Amounts payable after more than one year | 17 | €40,597 | €32,463 | -€8,134 | -20.0% |
| Financial debts | 170/4 | €40,597 | €32,463 | -€8,134 | -20.0% |
| Amounts payable within one year | 42/48 | €32,435 | €26,439 | -€5,996 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €7,785 | €8,134 | +€350 | +4.5% |
| Trade debts | 44 | €11,894 | €6,858 | -€5,035 | -42.3% |
| Suppliers | 440/4 | €11,894 | €6,858 | -€5,035 | -42.3% |
| Taxes, remuneration and social security | 45 | €12,756 | €11,446 | -€1,310 | -10.3% |
| Taxes | 450/3 | €12,756 | €11,446 | -€1,310 | -10.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,816 | €13,000 | +€1,184 | +10.0% |
| Other operating charges | 640/8 | €4,171 | €3,152 | -€1,019 | -24.4% |
| Non-recurring operating charges | 66A | €8,831 | €0 | -€8,831 | -100% |
| Gross operating margin | 9900 | €67,775 | €42,622 | -€25,153 | -37.1% |
| Operating profit (loss) | 9901 | €42,957 | €26,470 | -€16,487 | -38.4% |
| Financial income | 75/76B | €1,312 | €958 | -€354 | -27.0% |
| Recurring financial income | 75 | €1,312 | €958 | -€354 | -27.0% |
| Financial charges | 65/66B | €3,007 | €2,255 | -€752 | -25.0% |
| Recurring financial charges | 65 | €3,007 | €2,255 | -€752 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €41,262 | €25,173 | -€16,089 | -39.0% |
| Income taxes | 67/77 | €14,830 | €9,221 | -€5,609 | -37.8% |
| Profit (loss) for the period | 9904 | €26,432 | €15,951 | -€10,481 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,432 | €15,951 | -€10,481 | -39.7% |
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 16 October 2026 via checked.be.