SPADIN-SCHAAF: 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.
SPADIN-SCHAAF
Largest movements
- Cash +€86,966
up €86,966 (+22.1%), from €394,239 to €481,205
mainly Net result for the year (+€99,644) and Depreciation (+€5,647)
- Reserves +€99,644
up €99,644 (+27.6%), from €361,060 to €460,704
- Other debts -€7,538
down €7,538 (-50.8%), from €14,835 to €7,298
- Tax, wage and social debts -€6,328
down €6,328 (-47.3%), from €13,387 to €7,059
- Gross operating margin -€36,509
down €36,509 (-19.1%), from €191,461 to €154,952
- Taxes -€11,162
down €11,162 (-18.8%), from €59,326 to €48,164
- Depreciation -€2,432
down €2,432 (-30.1%), from €8,080 to €5,647
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 | €422,565 | €512,186 | +€89,621 | +21.2% |
| Fixed assets | 21/28 | €15,111 | €13,824 | -€1,288 | -8.5% |
| Tangible fixed assets | 22/27 | €15,111 | €13,824 | -€1,288 | -8.5% |
| Furniture and vehicles | 24 | €15,111 | €13,824 | -€1,288 | -8.5% |
| Current assets | 29/58 | €407,454 | €498,363 | +€90,909 | +22.3% |
| Amounts receivable within one year | 40/41 | €13,215 | €17,158 | +€3,943 | +29.8% |
| Trade receivables | 40 | €12,541 | €5,322 | -€7,219 | -57.6% |
| Other amounts receivable | 41 | €674 | €11,836 | +€11,162 | +1,657% |
| Cash at bank and in hand | 54/58 | €394,239 | €481,205 | +€86,966 | +22.1% |
| Total equity and liabilities | 10/49 | €422,565 | €512,186 | +€89,621 | +21.2% |
| Equity | 10/15 | €362,560 | €462,204 | +€99,644 | +27.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €361,060 | €460,704 | +€99,644 | +27.6% |
| Distributable reserves | 133 | €361,060 | €460,704 | +€99,644 | +27.6% |
| Amounts payable | 17/49 | €60,005 | €49,983 | -€10,023 | -16.7% |
| Amounts payable within one year | 42/48 | €58,823 | €49,983 | -€8,841 | -15.0% |
| Trade debts | 44 | €30,601 | €35,626 | +€5,025 | +16.4% |
| Suppliers | 440/4 | €30,601 | €35,626 | +€5,025 | +16.4% |
| Taxes, remuneration and social security | 45 | €13,387 | €7,059 | -€6,328 | -47.3% |
| Taxes | 450/3 | €13,387 | €7,059 | -€6,328 | -47.3% |
| Other amounts payable | 47/48 | €14,835 | €7,298 | -€7,538 | -50.8% |
| Accrued charges and deferred income | 492/3 | €1,182 | €0 | -€1,182 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,080 | €5,647 | -€2,432 | -30.1% |
| Other operating charges | 640/8 | €1,485 | €1,356 | -€130 | -8.7% |
| Gross operating margin | 9900 | €191,461 | €154,952 | -€36,509 | -19.1% |
| Operating profit (loss) | 9901 | €181,896 | €147,949 | -€33,947 | -18.7% |
| Financial charges | 65/66B | €117 | €141 | +€24 | +20.5% |
| Recurring financial charges | 65 | €117 | €141 | +€24 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €181,779 | €147,808 | -€33,971 | -18.7% |
| Income taxes | 67/77 | €59,326 | €48,164 | -€11,162 | -18.8% |
| Profit (loss) for the period | 9904 | €122,453 | €99,644 | -€22,809 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €122,453 | €99,644 | -€22,809 | -18.6% |
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 18 October 2026 via checked.be.