SP International: 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.
SP International
Largest movements
- Receivables within one year +€73,793
up €73,793 (+12.7%), from €583,149 to €656,942
of which Trade receivables: +€73,793
- Stocks and contracts +€48,715
up €48,715 (+11.2%), from €435,000 to €483,715
- Tangible fixed assets -€34,444
down €34,444 (-80.0%), from €43,046 to €8,602
of which Furniture and vehicles: -€30,827
- Trade debts +€457,406
up €457,406 (+201%), from €228,120 to €685,525
- Advances received -€431,518
no longer reported in 2025 (was €431,518)
- Reserves +€72,651
up €72,651 (+35.7%), from €203,508 to €276,160
- Other debts -€41,489
down €41,489 (-56.2%), from €73,773 to €32,284
- Debts after one year +€31,500
up €31,500 (+78.8%), from €40,000 to €71,500
- Gross operating margin -€25,334
down €25,334 (-17.7%), from €143,449 to €118,115
- Depreciation -€7,388
down €7,388 (-62.4%), from €11,848 to €4,460
- Other operating charges -€2,366
down €2,366 (-89.4%), from €2,647 to €281
- Financial charges +€2,274
up €2,274 (+28.1%), from €8,082 to €10,356
- Taxes -€1,478
down €1,478 (-5.6%), from €26,204 to €24,726
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 | €1,063,263 | €1,151,174 | +€87,910 | +8.3% |
| Fixed assets | 21/28 | €43,046 | €8,602 | -€34,444 | -80.0% |
| Tangible fixed assets | 22/27 | €43,046 | €8,602 | -€34,444 | -80.0% |
| Plant, machinery and equipment | 23 | €12,220 | €8,602 | -€3,617 | -29.6% |
| Furniture and vehicles | 24 | €30,827 | - | -€30,827 | |
| Current assets | 29/58 | €1,020,217 | €1,142,571 | +€122,354 | +12.0% |
| Stocks and contracts in progress | 3 | €435,000 | €483,715 | +€48,715 | +11.2% |
| Stocks | 30/36 | €435,000 | €483,715 | +€48,715 | +11.2% |
| Amounts receivable within one year | 40/41 | €583,149 | €656,942 | +€73,793 | +12.7% |
| Trade receivables | 40 | €515,190 | €588,983 | +€73,793 | +14.3% |
| Other amounts receivable | 41 | €67,959 | €67,959 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,068 | €1,914 | -€154 | -7.5% |
| Total equity and liabilities | 10/49 | €1,063,263 | €1,151,174 | +€87,910 | +8.3% |
| Equity | 10/15 | €213,508 | €286,160 | +€72,651 | +34.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €203,508 | €276,160 | +€72,651 | +35.7% |
| Distributable reserves | 133 | €203,508 | €276,160 | +€72,651 | +35.7% |
| Amounts payable | 17/49 | €849,755 | €865,014 | +€15,259 | +1.8% |
| Amounts payable after more than one year | 17 | €40,000 | €71,500 | +€31,500 | +78.8% |
| Financial debts | 170/4 | €40,000 | €71,500 | +€31,500 | +78.8% |
| Amounts payable within one year | 42/48 | €802,865 | €786,623 | -€16,241 | -2.0% |
| Financial debts | 43 | €39 | €39 | = | 0.0% |
| Credit institutions | 430/8 | €39 | €39 | = | 0.0% |
| Trade debts | 44 | €228,120 | €685,525 | +€457,406 | +201% |
| Suppliers | 440/4 | €228,120 | €685,525 | +€457,406 | +201% |
| Advances received on contracts in progress | 46 | €431,518 | - | -€431,518 | |
| Taxes, remuneration and social security | 45 | €69,416 | €68,776 | -€640 | -0.9% |
| Taxes | 450/3 | €69,416 | €66,010 | -€3,406 | -4.9% |
| Remuneration and social security | 454/9 | - | €2,766 | +€2,766 | |
| Other amounts payable | 47/48 | €73,773 | €32,284 | -€41,489 | -56.2% |
| Accrued charges and deferred income | 492/3 | €6,890 | €6,890 | = | 0.0% |
| Non-recurring operating income | 76A | - | €7,544 | +€7,544 | |
| Remuneration, social security and pensions | 62 | €1,922 | €953 | -€969 | -50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,848 | €4,460 | -€7,388 | -62.4% |
| Other operating charges | 640/8 | €2,647 | €281 | -€2,366 | -89.4% |
| Non-recurring operating charges | 66A | - | €5,369 | +€5,369 | |
| Gross operating margin | 9900 | €143,449 | €118,115 | -€25,334 | -17.7% |
| Operating profit (loss) | 9901 | €127,032 | €107,052 | -€19,981 | -15.7% |
| Financial income | 75/76B | €551 | €682 | +€132 | +24.0% |
| Recurring financial income | 75 | €551 | €682 | +€132 | +24.0% |
| Financial charges | 65/66B | €8,082 | €10,356 | +€2,274 | +28.1% |
| Recurring financial charges | 65 | €8,082 | €10,356 | +€2,274 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €119,500 | €97,378 | -€22,122 | -18.5% |
| Income taxes | 67/77 | €26,204 | €24,726 | -€1,478 | -5.6% |
| Profit (loss) for the period | 9904 | €93,296 | €72,651 | -€20,645 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €93,296 | €72,651 | -€20,645 | -22.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.