SPAC Consult: 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.
SPAC Consult
Largest movements
- Cash -€143,292
down €143,292 (-69.2%), from €207,080 to €63,788
mainly Advances received (-€200,000) and Receivables within one year (-€42,235)
- Receivables within one year +€42,235
up €42,235 (+1587.1%), from €2,661 to €44,896
of which Trade receivables: +€38,271
- Tangible fixed assets +€10,489
new in 2025: €10,489
- Advances received -€200,000
no longer reported in 2025 (was €200,000)
- Profit (loss) carried forward +€73,162
up €73,162, from -€69,283 to €3,879
- Other debts +€72,276
up €72,276 (+804.1%), from €8,988 to €81,264
- Debts after one year -€40,000
down €40,000 (-89.0%), from €44,965 to €4,965
- Tax, wage and social debts +€4,060
up €4,060 (+89.7%), from €4,527 to €8,587
- Gross operating margin +€121,485
up €121,485, from -€37,545 to €83,940
- Taxes +€4,924
up €4,924 (+2074.2%), from €237 to €5,161
- Financial charges +€3,182
up €3,182 (+256.7%), from €1,240 to €4,422
- Depreciation +€1,019
new in 2025: €1,019
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 | €210,964 | €119,556 | -€91,408 | -43.3% |
| Fixed assets | 21/28 | - | €10,489 | +€10,489 | |
| Tangible fixed assets | 22/27 | - | €10,489 | +€10,489 | |
| Furniture and vehicles | 24 | - | €10,489 | +€10,489 | |
| Current assets | 29/58 | €210,964 | €109,067 | -€101,897 | -48.3% |
| Amounts receivable within one year | 40/41 | €2,661 | €44,896 | +€42,235 | +1587.1% |
| Trade receivables | 40 | €2,557 | €40,828 | +€38,271 | +1496.7% |
| Other amounts receivable | 41 | €104 | €4,068 | +€3,964 | +3806.7% |
| Cash at bank and in hand | 54/58 | €207,080 | €63,788 | -€143,292 | -69.2% |
| Deferred charges and accrued income | 490/1 | €1,223 | €383 | -€840 | -68.7% |
| Total equity and liabilities | 10/49 | €210,964 | €119,556 | -€91,408 | -43.3% |
| Equity | 10/15 | -€59,283 | €13,879 | +€73,162 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,283 | €3,879 | +€73,162 | |
| Amounts payable | 17/49 | €270,247 | €105,677 | -€164,570 | -60.9% |
| Amounts payable after more than one year | 17 | €44,965 | €4,965 | -€40,000 | -89.0% |
| Financial debts | 170/4 | €44,965 | €4,965 | -€40,000 | -89.0% |
| Amounts payable within one year | 42/48 | €219,728 | €93,367 | -€126,361 | -57.5% |
| Financial debts | 43 | - | €179 | +€179 | |
| Credit institutions | 430/8 | - | €179 | +€179 | |
| Trade debts | 44 | €6,213 | €3,337 | -€2,876 | -46.3% |
| Suppliers | 440/4 | €6,213 | €3,337 | -€2,876 | -46.3% |
| Advances received on contracts in progress | 46 | €200,000 | - | -€200,000 | |
| Taxes, remuneration and social security | 45 | €4,527 | €8,587 | +€4,060 | +89.7% |
| Taxes | 450/3 | €4,527 | €8,587 | +€4,060 | +89.7% |
| Other amounts payable | 47/48 | €8,988 | €81,264 | +€72,276 | +804.1% |
| Accrued charges and deferred income | 492/3 | €5,554 | €7,345 | +€1,791 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,019 | +€1,019 | |
| Other operating charges | 640/8 | €489 | €255 | -€234 | -47.8% |
| Gross operating margin | 9900 | -€37,545 | €83,940 | +€121,485 | |
| Operating profit (loss) | 9901 | -€38,034 | €82,666 | +€120,700 | |
| Financial income | 75/76B | €426 | €79 | -€347 | -81.4% |
| Recurring financial income | 75 | €426 | €79 | -€347 | -81.4% |
| Financial charges | 65/66B | €1,240 | €4,422 | +€3,182 | +256.7% |
| Recurring financial charges | 65 | €1,240 | €4,422 | +€3,182 | +256.7% |
| Profit (loss) for the period before taxes | 9903 | -€38,848 | €78,323 | +€117,171 | |
| Income taxes | 67/77 | €237 | €5,161 | +€4,924 | +2074.2% |
| Profit (loss) for the period | 9904 | -€39,086 | €73,162 | +€112,248 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,086 | €73,162 | +€112,248 |
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 2 October 2026 via checked.be.