Spaens: 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.
Spaens
Largest movements
- Tangible fixed assets -€31,203
down €31,203 (-4.2%), from €747,883 to €716,680
of which Land and buildings: -€27,414
- Current investments +€30,000
up €30,000 (+4.2%), from €720,000 to €750,000
- Cash -€19,272
down €19,272 (-15.6%), from €123,767 to €104,495
mainly Current investments (-€30,000) and Net result for the year (-€12,701)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€9,540
down €9,540 (-11.9%), from €79,913 to €70,373
- Financial income -€5,615
down €5,615 (-25.1%), from €22,371 to €16,757
- Financial charges -€5,098
down €5,098 (-8.6%), from €59,352 to €54,255
- Staff costs -€3,894
down €3,894 (-85.5%), from €4,554 to €660
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 | €1,614,949 | €1,608,913 | -€6,036 | -0.4% |
| Fixed assets | 21/28 | €747,883 | €716,680 | -€31,203 | -4.2% |
| Tangible fixed assets | 22/27 | €747,883 | €716,680 | -€31,203 | -4.2% |
| Land and buildings | 22 | €730,493 | €703,079 | -€27,414 | -3.8% |
| Plant, machinery and equipment | 23 | €10,832 | €9,449 | -€1,383 | -12.8% |
| Furniture and vehicles | 24 | €6,558 | €4,152 | -€2,407 | -36.7% |
| Current assets | 29/58 | €867,066 | €892,233 | +€25,167 | +2.9% |
| Amounts receivable within one year | 40/41 | €11,619 | €23,118 | +€11,499 | +99.0% |
| Trade receivables | 40 | - | €1,328 | +€1,328 | |
| Other amounts receivable | 41 | €11,619 | €21,791 | +€10,171 | +87.5% |
| Current investments | 50/53 | €720,000 | €750,000 | +€30,000 | +4.2% |
| Cash at bank and in hand | 54/58 | €123,767 | €104,495 | -€19,272 | -15.6% |
| Deferred charges and accrued income | 490/1 | €11,680 | €14,620 | +€2,940 | +25.2% |
| Total equity and liabilities | 10/49 | €1,614,949 | €1,608,913 | -€6,036 | -0.4% |
| Equity | 10/15 | €712,942 | €700,241 | -€12,701 | -1.8% |
| Contributions | 10/11 | €292,825 | €292,825 | = | 0.0% |
| Reserves | 13 | €454,525 | €454,525 | = | 0.0% |
| Distributable reserves | 133 | €454,525 | €454,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,408 | -€47,109 | -€12,701 | -36.9% |
| Amounts payable | 17/49 | €902,007 | €908,672 | +€6,665 | +0.7% |
| Amounts payable after more than one year | 17 | €795,842 | €800,784 | +€4,942 | +0.6% |
| Financial debts | 170/4 | €101,111 | €54,444 | -€46,667 | -46.2% |
| Other amounts payable | 178/9 | €694,731 | €746,340 | +€51,609 | +7.4% |
| Amounts payable within one year | 42/48 | €48,408 | €53,819 | +€5,411 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €46,667 | €46,667 | = | 0.0% |
| Trade debts | 44 | €1,644 | €7,152 | +€5,509 | +335% |
| Suppliers | 440/4 | €1,644 | €7,152 | +€5,509 | +335% |
| Taxes, remuneration and social security | 45 | €98 | - | -€98 | |
| Taxes | 450/3 | €10 | - | -€10 | |
| Remuneration and social security | 454/9 | €87 | - | -€87 | |
| Accrued charges and deferred income | 492/3 | €57,757 | €54,069 | -€3,688 | -6.4% |
| Remuneration, social security and pensions | 62 | €4,554 | €660 | -€3,894 | -85.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,233 | €31,203 | -€30 | -0.1% |
| Other operating charges | 640/8 | €13,452 | €13,541 | +€88 | +0.7% |
| Gross operating margin | 9900 | €79,913 | €70,373 | -€9,540 | -11.9% |
| Operating profit (loss) | 9901 | €30,674 | €24,970 | -€5,705 | -18.6% |
| Financial income | 75/76B | €22,371 | €16,757 | -€5,615 | -25.1% |
| Recurring financial income | 75 | €22,371 | €16,757 | -€5,615 | -25.1% |
| Financial charges | 65/66B | €59,352 | €54,255 | -€5,098 | -8.6% |
| Recurring financial charges | 65 | €59,352 | €54,255 | -€5,098 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,307 | -€12,528 | -€6,221 | -98.6% |
| Income taxes | 67/77 | -€93 | €173 | +€266 | |
| Profit (loss) for the period | 9904 | -€6,213 | -€12,701 | -€6,488 | -104% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,213 | -€12,701 | -€6,488 | -104% |
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 31 October 2026 via checked.be.