SPADE: 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.
SPADE
Largest movements
- Receivables within one year -€18,654
down €18,654 (-10.0%), from €186,926 to €168,272
of which Other amounts receivable: -€18,452
- Intangible fixed assets -€12,190
down €12,190 (-15.2%), from €80,410 to €68,220
- Cash +€8,002
up €8,002 (+4.1%), from €194,641 to €202,643
mainly Depreciation (+€36,351) and Net result for the year (+€30,931)
- Tax, wage and social debts -€31,731
down €31,731 (-28.3%), from €112,319 to €80,588
of which Taxes: -€17,669
- Accrued charges and deferred income -€30,320
down €30,320 (-56.7%), from €53,452 to €23,132
- Other debts +€29,941
up €29,941 (+263%), from €11,385 to €41,326
- Trade debts +€17,954
up €17,954 (+25.6%), from €70,104 to €88,058
- Reserves -€10,426
down €10,426 (-16.2%), from €64,435 to €54,009
of which Distributable reserves: -€10,426
- Staff costs -€91,047
down €91,047 (-21.4%), from €424,818 to €333,771
- Gross operating margin -€54,787
down €54,787 (-11.5%), from €475,669 to €420,882
- Taxes +€12,273
up €12,273 (+161%), from €7,623 to €19,896
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 | €488,157 | €463,605 | -€24,552 | -5.0% |
| Fixed assets | 21/28 | €93,878 | €80,156 | -€13,722 | -14.6% |
| Intangible fixed assets | 21 | €80,410 | €68,220 | -€12,190 | -15.2% |
| Tangible fixed assets | 22/27 | €4,995 | €3,463 | -€1,532 | -30.7% |
| Furniture and vehicles | 24 | €4,995 | €3,463 | -€1,532 | -30.7% |
| Financial fixed assets | 28 | €8,472 | €8,472 | = | 0.0% |
| Current assets | 29/58 | €394,279 | €383,450 | -€10,830 | -2.7% |
| Amounts receivable within one year | 40/41 | €186,926 | €168,272 | -€18,654 | -10.0% |
| Trade receivables | 40 | €121,349 | €121,146 | -€203 | -0.2% |
| Other amounts receivable | 41 | €65,577 | €47,126 | -€18,452 | -28.1% |
| Current investments | 50/53 | €7,500 | €7,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €194,641 | €202,643 | +€8,002 | +4.1% |
| Deferred charges and accrued income | 490/1 | €5,212 | €5,035 | -€177 | -3.4% |
| Total equity and liabilities | 10/49 | €488,157 | €463,605 | -€24,552 | -5.0% |
| Equity | 10/15 | €240,896 | €230,500 | -€10,396 | -4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,435 | €54,009 | -€10,426 | -16.2% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Own shares acquired | 1312 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €56,935 | €46,509 | -€10,426 | -18.3% |
| Profit (loss) carried forward | 14 | €157,861 | €157,891 | +€31 | 0.0% |
| Amounts payable | 17/49 | €247,261 | €233,105 | -€14,156 | -5.7% |
| Amounts payable within one year | 42/48 | €193,809 | €209,972 | +€16,164 | +8.3% |
| Trade debts | 44 | €70,104 | €88,058 | +€17,954 | +25.6% |
| Suppliers | 440/4 | €70,104 | €88,058 | +€17,954 | +25.6% |
| Taxes, remuneration and social security | 45 | €112,319 | €80,588 | -€31,731 | -28.3% |
| Taxes | 450/3 | €54,617 | €36,948 | -€17,669 | -32.4% |
| Remuneration and social security | 454/9 | €57,703 | €43,640 | -€14,063 | -24.4% |
| Other amounts payable | 47/48 | €11,385 | €41,326 | +€29,941 | +263% |
| Accrued charges and deferred income | 492/3 | €53,452 | €23,132 | -€30,320 | -56.7% |
| Non-recurring operating income | 76A | €12,554 | - | -€12,554 | |
| Remuneration, social security and pensions | 62 | €424,818 | €333,771 | -€91,047 | -21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,689 | €36,351 | -€1,338 | -3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,020 | - | -€3,020 | |
| Other operating charges | 640/8 | €1,219 | €311 | -€908 | -74.5% |
| Gross operating margin | 9900 | €475,669 | €420,882 | -€54,787 | -11.5% |
| Operating profit (loss) | 9901 | €8,922 | €50,449 | +€41,527 | +465% |
| Financial income | 75/76B | €1,529 | €942 | -€587 | -38.4% |
| Recurring financial income | 75 | €1,529 | €942 | -€587 | -38.4% |
| Financial charges | 65/66B | €389 | €565 | +€176 | +45.3% |
| Recurring financial charges | 65 | €389 | €565 | +€176 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €10,062 | €50,826 | +€40,764 | +405% |
| Income taxes | 67/77 | €7,623 | €19,896 | +€12,273 | +161% |
| Profit (loss) for the period | 9904 | €2,440 | €30,931 | +€28,491 | +1,168% |
| Profit (loss) for the period to be appropriated | 9905 | €2,440 | €30,931 | +€28,491 | +1,168% |
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.