SPAD: 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.
SPAD
Largest movements
- Receivables within one year -€6,534
no longer reported in 2025 (was €6,534)
- Cash +€277
new in 2025: €277
mainly Receivables within one year (+€6,534) and Net result for the year (+€3,695)
- Other debts -€8,467
down €8,467 (-16.9%), from €50,134 to €41,667
- Profit (loss) carried forward +€3,695
up €3,695 (+5.4%), from -€68,295 to -€64,600
- Trade debts -€1,345
down €1,345 (-35.7%), from €3,765 to €2,420
- Tax, wage and social debts -€136
down €136 (-14.7%), from €926 to €790
- Gross operating margin -€506
down €506 (-11.9%), from €4,251 to €3,745
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 | €6,534 | €277 | -€6,257 | -95.8% |
| Current assets | 29/58 | €6,534 | €277 | -€6,257 | -95.8% |
| Amounts receivable within one year | 40/41 | €6,534 | - | -€6,534 | |
| Trade receivables | 40 | €6,534 | - | -€6,534 | |
| Cash at bank and in hand | 54/58 | - | €277 | +€277 | |
| Total equity and liabilities | 10/49 | €6,534 | €277 | -€6,257 | -95.8% |
| Equity | 10/15 | -€48,295 | -€44,600 | +€3,695 | +7.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,295 | -€64,600 | +€3,695 | +5.4% |
| Amounts payable | 17/49 | €54,829 | €44,877 | -€9,952 | -18.2% |
| Amounts payable within one year | 42/48 | €54,829 | €44,877 | -€9,952 | -18.2% |
| Financial debts | 43 | €4 | - | -€4 | |
| Credit institutions | 430/8 | €4 | - | -€4 | |
| Trade debts | 44 | €3,765 | €2,420 | -€1,345 | -35.7% |
| Suppliers | 440/4 | €3,765 | €2,420 | -€1,345 | -35.7% |
| Taxes, remuneration and social security | 45 | €926 | €790 | -€136 | -14.7% |
| Taxes | 450/3 | €926 | €790 | -€136 | -14.7% |
| Other amounts payable | 47/48 | €50,134 | €41,667 | -€8,467 | -16.9% |
| Gross operating margin | 9900 | €4,251 | €3,745 | -€506 | -11.9% |
| Operating profit (loss) | 9901 | €4,251 | €3,745 | -€506 | -11.9% |
| Financial charges | 65/66B | €50 | €50 | = | 0.0% |
| Recurring financial charges | 65 | €50 | €50 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €4,201 | €3,695 | -€506 | -12.0% |
| Profit (loss) for the period | 9904 | €4,201 | €3,695 | -€506 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,201 | €3,695 | -€506 | -12.0% |
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 12 October 2026 via checked.be.