SPACETECH: 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.
SPACETECH
Largest movements
- Current investments +€12,197
up €12,197 (+5.1%), from €240,184 to €252,381
- Cash +€9,283
up €9,283 (+71.1%), from €13,058 to €22,341
mainly Net result for the year (+€20,041) and Depreciation (+€1,982)
- Reserves +€20,041
up €20,041 (+12.1%), from €164,991 to €185,031
of which Distributable reserves: +€20,041
- Taxes -€2,613
down €2,613 (-39.7%), from €6,588 to €3,975
- Depreciation -€2,454
down €2,454 (-55.3%), from €4,436 to €1,982
- Other operating charges -€1,789
no longer reported in 2025 (was €1,789)
- Financial income +€905
up €905 (+141.0%), from €642 to €1,547
of which Financial income: +€1,352
- Gross operating margin +€680
up €680 (+2.8%), from €24,013 to €24,693
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 | €275,707 | €296,748 | +€21,041 | +7.6% |
| Fixed assets | 21/28 | €21,982 | €20,000 | -€1,982 | -9.0% |
| Tangible fixed assets | 22/27 | €21,982 | €20,000 | -€1,982 | -9.0% |
| Land and buildings | 22 | €21,982 | €20,000 | -€1,982 | -9.0% |
| Current assets | 29/58 | €253,725 | €276,748 | +€23,023 | +9.1% |
| Amounts receivable within one year | 40/41 | €483 | €2,026 | +€1,543 | +319.7% |
| Other amounts receivable | 41 | €483 | €2,026 | +€1,543 | +319.7% |
| Current investments | 50/53 | €240,184 | €252,381 | +€12,197 | +5.1% |
| Cash at bank and in hand | 54/58 | €13,058 | €22,341 | +€9,283 | +71.1% |
| Total equity and liabilities | 10/49 | €275,707 | €296,748 | +€21,041 | +7.6% |
| Equity | 10/15 | €193,633 | €213,674 | +€20,041 | +10.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €164,991 | €185,031 | +€20,041 | +12.1% |
| Tax-exempt reserves | 132 | €41,831 | €41,831 | = | 0.0% |
| Distributable reserves | 133 | €123,160 | €143,201 | +€20,041 | +16.3% |
| Investment grants | 15 | €10,050 | €10,050 | = | 0.0% |
| Amounts payable | 17/49 | €82,074 | €83,074 | +€1,000 | +1.2% |
| Amounts payable within one year | 42/48 | €82,074 | €83,074 | +€1,000 | +1.2% |
| Other amounts payable | 47/48 | €82,074 | €83,074 | +€1,000 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,436 | €1,982 | -€2,454 | -55.3% |
| Other operating charges | 640/8 | €1,789 | - | -€1,789 | |
| Gross operating margin | 9900 | €24,013 | €24,693 | +€680 | +2.8% |
| Operating profit (loss) | 9901 | €17,788 | €22,711 | +€4,922 | +27.7% |
| Financial income | 75/76B | €642 | €1,547 | +€905 | +141.0% |
| Recurring financial income | 75 | €195 | €1,547 | +€1,352 | +693.2% |
| Non-recurring financial income | 76B | €447 | - | -€447 | |
| Financial charges | 65/66B | €313 | €242 | -€72 | -22.9% |
| Recurring financial charges | 65 | €313 | €242 | -€72 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €18,116 | €24,016 | +€5,899 | +32.6% |
| Income taxes | 67/77 | €6,588 | €3,975 | -€2,613 | -39.7% |
| Profit (loss) for the period | 9904 | €11,528 | €20,041 | +€8,512 | +73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,528 | €20,041 | +€8,512 | +73.8% |
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 29 September 2026 via checked.be.