SP Projects: 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 Projects
Largest movements
- Cash +€24,388
up €24,388 (+511274.6%), from €5 to €24,393
mainly Net result for the year (+€44,973) and Depreciation (+€10,975)
- Tangible fixed assets +€12,550
up €12,550 (+26.9%), from €46,571 to €59,121
of which Other tangible fixed assets: +€14,766
- Receivables within one year +€4,352
up €4,352 (+21.6%), from €20,129 to €24,481
of which Trade receivables: +€3,000
- Profit (loss) carried forward +€44,973
up €44,973 (+285.3%), from €15,764 to €60,737
- Debts after one year -€13,160
down €13,160 (-40.4%), from €32,573 to €19,412
- Tax, wage and social debts +€9,343
up €9,343 (+139.7%), from €6,686 to €16,029
of which Taxes: +€11,682
- Current portion of long-term debt +€2,146
up €2,146 (+38.3%), from €5,607 to €7,754
- Trade debts -€1,551
down €1,551 (-26.9%), from €5,756 to €4,205
- Gross operating margin +€44,524
up €44,524 (+183.6%), from €24,254 to €68,778
- Depreciation +€7,455
up €7,455 (+211.8%), from €3,519 to €10,975
- Taxes +€7,335
up €7,335 (+168.7%), from €4,347 to €11,682
- Financial charges +€712
up €712 (+104.2%), from €683 to €1,395
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 | €67,666 | €109,037 | +€41,371 | +61.1% |
| Fixed assets | 21/28 | €46,571 | €59,121 | +€12,550 | +26.9% |
| Tangible fixed assets | 22/27 | €46,571 | €59,121 | +€12,550 | +26.9% |
| Furniture and vehicles | 24 | €44,974 | €42,757 | -€2,217 | -4.9% |
| Other tangible fixed assets | 26 | €1,597 | €16,364 | +€14,766 | +924.4% |
| Current assets | 29/58 | €21,095 | €49,916 | +€28,821 | +136.6% |
| Amounts receivable within one year | 40/41 | €20,129 | €24,481 | +€4,352 | +21.6% |
| Trade receivables | 40 | €10,000 | €13,000 | +€3,000 | +30.0% |
| Other amounts receivable | 41 | €10,129 | €11,481 | +€1,352 | +13.3% |
| Cash at bank and in hand | 54/58 | €5 | €24,393 | +€24,388 | +511274.6% |
| Deferred charges and accrued income | 490/1 | €961 | €1,043 | +€82 | +8.5% |
| Total equity and liabilities | 10/49 | €67,666 | €109,037 | +€41,371 | +61.1% |
| Equity | 10/15 | €16,264 | €61,237 | +€44,973 | +276.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,764 | €60,737 | +€44,973 | +285.3% |
| Amounts payable | 17/49 | €51,402 | €47,800 | -€3,602 | -7.0% |
| Amounts payable after more than one year | 17 | €32,573 | €19,412 | -€13,160 | -40.4% |
| Financial debts | 170/4 | €32,573 | €19,412 | -€13,160 | -40.4% |
| Amounts payable within one year | 42/48 | €18,050 | €27,988 | +€9,938 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | €5,607 | €7,754 | +€2,146 | +38.3% |
| Trade debts | 44 | €5,756 | €4,205 | -€1,551 | -26.9% |
| Suppliers | 440/4 | €5,756 | €4,205 | -€1,551 | -26.9% |
| Taxes, remuneration and social security | 45 | €6,686 | €16,029 | +€9,343 | +139.7% |
| Taxes | 450/3 | €4,347 | €16,029 | +€11,682 | +268.7% |
| Remuneration and social security | 454/9 | €2,339 | - | -€2,339 | |
| Accrued charges and deferred income | 492/3 | €780 | €400 | -€380 | -48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,519 | €10,975 | +€7,455 | +211.8% |
| Other operating charges | 640/8 | €25 | €289 | +€264 | +1057.7% |
| Gross operating margin | 9900 | €24,254 | €68,778 | +€44,524 | +183.6% |
| Operating profit (loss) | 9901 | €20,710 | €57,514 | +€36,804 | +177.7% |
| Financial income | 75/76B | €84 | €536 | +€452 | +537.0% |
| Recurring financial income | 75 | €84 | €536 | +€452 | +537.0% |
| Financial charges | 65/66B | €683 | €1,395 | +€712 | +104.2% |
| Recurring financial charges | 65 | €683 | €1,395 | +€712 | +104.2% |
| Profit (loss) for the period before taxes | 9903 | €20,111 | €56,656 | +€36,545 | +181.7% |
| Income taxes | 67/77 | €4,347 | €11,682 | +€7,335 | +168.7% |
| Profit (loss) for the period | 9904 | €15,764 | €44,973 | +€29,210 | +185.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,764 | €44,973 | +€29,210 | +185.3% |
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 3 October 2026 via checked.be.