SPA REVIVAL: 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.
SPA REVIVAL
Largest movements
- Receivables within one year -€19,349
down €19,349 (-55.7%), from €34,744 to €15,395
of which Trade receivables: -€18,780
- Intangible fixed assets -€18,333
down €18,333 (-85.7%), from €21,392 to €3,059
- Tangible fixed assets -€7,810
down €7,810 (-85.7%), from €9,113 to €1,303
- Cash +€3,650
up €3,650 (+14.2%), from €25,617 to €29,268
mainly Depreciation (+€26,144) and Short-term financial debts (+€20,000)
- Profit (loss) carried forward -€55,777
down €55,777 (-78.4%), from -€71,111 to -€126,888
- Short-term financial debts +€20,000
up €20,000 (+20.0%), from €100,000 to €120,000
- Trade debts -€5,990
down €5,990 (-28.7%), from €20,894 to €14,904
- Gross operating margin +€14,066
up €14,066 (+35.9%), from -€39,183 to -€25,117
- Financial charges -€1,577
down €1,577 (-27.7%), from €5,693 to €4,116
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 | €90,867 | €49,190 | -€41,678 | -45.9% |
| Fixed assets | 21/28 | €30,506 | €4,362 | -€26,144 | -85.7% |
| Intangible fixed assets | 21 | €21,392 | €3,059 | -€18,333 | -85.7% |
| Tangible fixed assets | 22/27 | €9,113 | €1,303 | -€7,810 | -85.7% |
| Furniture and vehicles | 24 | €9,113 | €1,303 | -€7,810 | -85.7% |
| Current assets | 29/58 | €60,362 | €44,827 | -€15,534 | -25.7% |
| Amounts receivable within one year | 40/41 | €34,744 | €15,395 | -€19,349 | -55.7% |
| Trade receivables | 40 | €33,386 | €14,607 | -€18,780 | -56.2% |
| Other amounts receivable | 41 | €1,358 | €789 | -€569 | -41.9% |
| Cash at bank and in hand | 54/58 | €25,617 | €29,268 | +€3,650 | +14.2% |
| Deferred charges and accrued income | 490/1 | €0 | €165 | +€165 | |
| Total equity and liabilities | 10/49 | €90,867 | €49,190 | -€41,678 | -45.9% |
| Equity | 10/15 | -€61,111 | -€116,888 | -€55,777 | -91.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,111 | -€126,888 | -€55,777 | -78.4% |
| Amounts payable | 17/49 | €151,978 | €166,078 | +€14,099 | +9.3% |
| Amounts payable within one year | 42/48 | €151,978 | €165,848 | +€13,869 | +9.1% |
| Financial debts | 43 | €100,000 | €120,000 | +€20,000 | +20.0% |
| Credit institutions | 430/8 | €100,000 | €120,000 | +€20,000 | +20.0% |
| Trade debts | 44 | €20,894 | €14,904 | -€5,990 | -28.7% |
| Suppliers | 440/4 | €20,894 | €14,904 | -€5,990 | -28.7% |
| Taxes, remuneration and social security | 45 | €223 | €0 | -€223 | -100% |
| Taxes | 450/3 | €223 | €0 | -€223 | -100% |
| Other amounts payable | 47/48 | €30,862 | €30,944 | +€82 | +0.3% |
| Accrued charges and deferred income | 492/3 | €0 | €230 | +€230 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,141 | €26,144 | +€3 | 0.0% |
| Other operating charges | 640/8 | €389 | €401 | +€11 | +2.9% |
| Gross operating margin | 9900 | -€39,183 | -€25,117 | +€14,066 | +35.9% |
| Operating profit (loss) | 9901 | -€65,713 | -€51,662 | +€14,052 | +21.4% |
| Financial charges | 65/66B | €5,693 | €4,116 | -€1,577 | -27.7% |
| Recurring financial charges | 65 | €5,693 | €4,116 | -€1,577 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€71,406 | -€55,777 | +€15,629 | +21.9% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€71,406 | -€55,777 | +€15,629 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,406 | -€55,777 | +€15,629 | +21.9% |
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 15 October 2026 via checked.be.