SP Heating: what changed
Two fiscal 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.
SP Heating
Largest movements
- Receivables within one year -€7,855
down €7,855 (-25.9%), from €30,374 to €22,518
of which Trade receivables: -€14,899
- Cash -€7,026
down €7,026 (-6.1%), from €114,253 to €107,226
mainly Trade debts (-€14,260) and Investment in fixed assets (net) (-€9,199)
- Tangible fixed assets +€5,193
new in 2025: €5,193
- Stocks and contracts -€2,374
down €2,374 (-20.7%), from €11,452 to €9,077
- Financial fixed assets +€2,100
new in 2025: €2,100
- Trade debts -€14,260
down €14,260 (-73.0%), from €19,524 to €5,264
- Reserves +€12,892
up €12,892 (+10.5%), from €123,158 to €136,050
- Tax, wage and social debts -€9,079
no longer reported in 2025 (was €9,079)
- Gross operating margin +€17,741
up €17,741 (+228.6%), from €7,760 to €25,500
- Taxes +€4,408
up €4,408 (+668.4%), from €659 to €5,068
- Depreciation +€1,800
up €1,800 (+1688.1%), from €107 to €1,906
- Other operating charges +€1,079
up €1,079 (+190.9%), from €565 to €1,645
- Staff costs -€934
no longer reported in 2025 (was €934)
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 | €160,507 | €151,667 | -€8,840 | -5.5% |
| Fixed assets | 21/28 | - | €7,293 | +€7,293 | |
| Tangible fixed assets | 22/27 | - | €5,193 | +€5,193 | |
| Furniture and vehicles | 24 | - | €5,193 | +€5,193 | |
| Financial fixed assets | 28 | - | €2,100 | +€2,100 | |
| Current assets | 29/58 | €160,507 | €144,374 | -€16,133 | -10.1% |
| Stocks and contracts in progress | 3 | €11,452 | €9,077 | -€2,374 | -20.7% |
| Stocks | 30/36 | €11,452 | €9,077 | -€2,374 | -20.7% |
| Amounts receivable within one year | 40/41 | €30,374 | €22,518 | -€7,855 | -25.9% |
| Trade receivables | 40 | €18,242 | €3,343 | -€14,899 | -81.7% |
| Other amounts receivable | 41 | €12,131 | €19,175 | +€7,044 | +58.1% |
| Cash at bank and in hand | 54/58 | €114,253 | €107,226 | -€7,026 | -6.1% |
| Deferred charges and accrued income | 490/1 | €4,429 | €5,552 | +€1,123 | +25.3% |
| Total equity and liabilities | 10/49 | €160,507 | €151,667 | -€8,840 | -5.5% |
| Equity | 10/15 | €129,158 | €142,050 | +€12,892 | +10.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €123,158 | €136,050 | +€12,892 | +10.5% |
| Distributable reserves | 133 | €123,158 | €136,050 | +€12,892 | +10.5% |
| Amounts payable | 17/49 | €31,349 | €9,617 | -€21,731 | -69.3% |
| Amounts payable within one year | 42/48 | €31,349 | €9,433 | -€21,915 | -69.9% |
| Trade debts | 44 | €19,524 | €5,264 | -€14,260 | -73.0% |
| Suppliers | 440/4 | €19,524 | €5,264 | -€14,260 | -73.0% |
| Taxes, remuneration and social security | 45 | €9,079 | - | -€9,079 | |
| Taxes | 450/3 | €9,079 | - | -€9,079 | |
| Other amounts payable | 47/48 | €2,745 | €4,169 | +€1,424 | +51.9% |
| Accrued charges and deferred income | 492/3 | - | €184 | +€184 | |
| Remuneration, social security and pensions | 62 | €934 | - | -€934 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107 | €1,906 | +€1,800 | +1688.1% |
| Other operating charges | 640/8 | €565 | €1,645 | +€1,079 | +190.9% |
| Gross operating margin | 9900 | €7,760 | €25,500 | +€17,741 | +228.6% |
| Operating profit (loss) | 9901 | €6,154 | €21,950 | +€15,795 | +256.7% |
| Financial income | 75/76B | €607 | €915 | +€308 | +50.8% |
| Recurring financial income | 75 | €607 | €915 | +€308 | +50.8% |
| Financial charges | 65/66B | €5,495 | €4,905 | -€590 | -10.7% |
| Recurring financial charges | 65 | €5,495 | €4,905 | -€590 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €1,266 | €17,959 | +€16,694 | +1319.1% |
| Income taxes | 67/77 | €659 | €5,068 | +€4,408 | +668.4% |
| Profit (loss) for the period | 9904 | €606 | €12,892 | +€12,286 | +2027.2% |
| Profit (loss) for the period to be appropriated | 9905 | €606 | €12,892 | +€12,286 | +2027.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.