Spaenhoven: 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.
Spaenhoven
Largest movements
- Current investments +€381,288
up €381,288 (+259%), from €147,360 to €528,648
- Cash -€227,350
down €227,350 (-48.5%), from €469,218 to €241,869
mainly Current investments (-€381,288) and Contributions, distributions and other (-€170,000)
- Receivables within one year -€42,246
down €42,246 (-45.9%), from €92,047 to €49,800
of which Trade receivables: -€42,228
- Trade debts +€62,229
up €62,229 (+12.2%), from €509,277 to €571,506
- Other debts +€36,000
up €36,000 (+26.9%), from €134,000 to €170,000
- Tax, wage and social debts +€12,925
up €12,925 (+234%), from €5,513 to €18,438
of which Taxes: +€14,329
- Gross operating margin +€52,350
up €52,350 (+25.7%), from €203,373 to €255,723
- Taxes +€9,296
up €9,296 (+17.9%), from €51,878 to €61,174
- Financial income -€6,512
down €6,512 (-51.4%), from €12,670 to €6,158
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 | €717,045 | €828,844 | +€111,799 | +15.6% |
| Fixed assets | 21/28 | €6,600 | €6,303 | -€297 | -4.5% |
| Intangible fixed assets | 21 | €1,525 | €1,135 | -€390 | -25.6% |
| Tangible fixed assets | 22/27 | €4,751 | €4,844 | +€93 | +2.0% |
| Furniture and vehicles | 24 | €4,751 | €4,844 | +€93 | +2.0% |
| Financial fixed assets | 28 | €324 | €324 | = | 0.0% |
| Current assets | 29/58 | €710,445 | €822,541 | +€112,096 | +15.8% |
| Amounts receivable within one year | 40/41 | €92,047 | €49,800 | -€42,246 | -45.9% |
| Trade receivables | 40 | €86,173 | €43,944 | -€42,228 | -49.0% |
| Other amounts receivable | 41 | €5,874 | €5,856 | -€18 | -0.3% |
| Current investments | 50/53 | €147,360 | €528,648 | +€381,288 | +259% |
| Cash at bank and in hand | 54/58 | €469,218 | €241,869 | -€227,350 | -48.5% |
| Deferred charges and accrued income | 490/1 | €1,820 | €2,224 | +€404 | +22.2% |
| Total equity and liabilities | 10/49 | €717,045 | €828,844 | +€111,799 | +15.6% |
| Equity | 10/15 | €68,256 | €68,900 | +€644 | +0.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56 | €700 | +€644 | +1,159% |
| Amounts payable | 17/49 | €648,790 | €759,944 | +€111,154 | +17.1% |
| Amounts payable within one year | 42/48 | €648,790 | €759,944 | +€111,154 | +17.1% |
| Trade debts | 44 | €509,277 | €571,506 | +€62,229 | +12.2% |
| Suppliers | 440/4 | €509,277 | €571,506 | +€62,229 | +12.2% |
| Taxes, remuneration and social security | 45 | €5,513 | €18,438 | +€12,925 | +234% |
| Taxes | 450/3 | €3,078 | €17,407 | +€14,329 | +466% |
| Remuneration and social security | 454/9 | €2,435 | €1,031 | -€1,404 | -57.6% |
| Other amounts payable | 47/48 | €134,000 | €170,000 | +€36,000 | +26.9% |
| Remuneration, social security and pensions | 62 | €15,683 | €16,956 | +€1,272 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,037 | €2,084 | +€47 | +2.3% |
| Other operating charges | 640/8 | €6,527 | €6,061 | -€466 | -7.1% |
| Gross operating margin | 9900 | €203,373 | €255,723 | +€52,350 | +25.7% |
| Operating profit (loss) | 9901 | €179,125 | €230,622 | +€51,497 | +28.7% |
| Financial income | 75/76B | €12,670 | €6,158 | -€6,512 | -51.4% |
| Recurring financial income | 75 | €12,670 | €6,158 | -€6,512 | -51.4% |
| Financial charges | 65/66B | €5,864 | €4,962 | -€902 | -15.4% |
| Recurring financial charges | 65 | €5,864 | €4,962 | -€902 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €185,932 | €231,819 | +€45,887 | +24.7% |
| Income taxes | 67/77 | €51,878 | €61,174 | +€9,296 | +17.9% |
| Profit (loss) for the period | 9904 | €134,054 | €170,644 | +€36,591 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €134,054 | €170,644 | +€36,591 | +27.3% |
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 30 October 2026 via checked.be.