SPAGHETTI HEROES: 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.
SPAGHETTI HEROES
Largest movements
- Receivables within one year -€35,920
down €35,920 (-22.3%), from €160,743 to €124,823
of which Other amounts receivable: -€46,247
- Tangible fixed assets +€33,234
up €33,234 (+115%), from €28,971 to €62,205
of which Other tangible fixed assets: +€33,051
- Stocks and contracts +€12,332
up €12,332 (+71.3%), from €17,304 to €29,636
- Deferred charges and accrued income +€4,746
up €4,746 (+84.1%), from €5,645 to €10,390
- Trade debts +€31,032
up €31,032 (+89.2%), from €34,774 to €65,806
- Other debts -€15,000
down €15,000 (-25.0%), from €60,000 to €45,000
- Tax, wage and social debts -€6,212
down €6,212 (-20.9%), from €29,667 to €23,454
of which Taxes: -€8,549
- Gross operating margin -€63,107
down €63,107 (-16.1%), from €391,932 to €328,825
- Other operating charges -€12,339
down €12,339 (-81.6%), from €15,121 to €2,782
- Taxes -€12,072
down €12,072 (-43.8%), from €27,568 to €15,496
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 | €221,046 | €233,922 | +€12,876 | +5.8% |
| Fixed assets | 21/28 | €34,335 | €66,990 | +€32,654 | +95.1% |
| Intangible fixed assets | 21 | €1,315 | €735 | -€580 | -44.1% |
| Tangible fixed assets | 22/27 | €28,971 | €62,205 | +€33,234 | +115% |
| Plant, machinery and equipment | 23 | €4,764 | €4,751 | -€13 | -0.3% |
| Furniture and vehicles | 24 | €2,013 | €2,210 | +€197 | +9.8% |
| Other tangible fixed assets | 26 | €22,193 | €55,244 | +€33,051 | +149% |
| Financial fixed assets | 28 | €4,050 | €4,050 | = | 0.0% |
| Current assets | 29/58 | €186,710 | €166,932 | -€19,779 | -10.6% |
| Stocks and contracts in progress | 3 | €17,304 | €29,636 | +€12,332 | +71.3% |
| Stocks | 30/36 | €17,304 | €29,636 | +€12,332 | +71.3% |
| Amounts receivable within one year | 40/41 | €160,743 | €124,823 | -€35,920 | -22.3% |
| Trade receivables | 40 | €2,465 | €12,792 | +€10,327 | +419% |
| Other amounts receivable | 41 | €158,278 | €112,031 | -€46,247 | -29.2% |
| Cash at bank and in hand | 54/58 | €3,019 | €2,082 | -€936 | -31.0% |
| Deferred charges and accrued income | 490/1 | €5,645 | €10,390 | +€4,746 | +84.1% |
| Total equity and liabilities | 10/49 | €221,046 | €233,922 | +€12,876 | +5.8% |
| Equity | 10/15 | €96,605 | €98,689 | +€2,084 | +2.2% |
| Contributions | 10/11 | €10,898 | €10,898 | = | 0.0% |
| Reserves | 13 | €85,707 | €87,791 | +€2,084 | +2.4% |
| Distributable reserves | 133 | €85,707 | €87,791 | +€2,084 | +2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €124,441 | €135,233 | +€10,792 | +8.7% |
| Amounts payable within one year | 42/48 | €124,441 | €134,261 | +€9,820 | +7.9% |
| Trade debts | 44 | €34,774 | €65,806 | +€31,032 | +89.2% |
| Suppliers | 440/4 | €34,774 | €65,806 | +€31,032 | +89.2% |
| Taxes, remuneration and social security | 45 | €29,667 | €23,454 | -€6,212 | -20.9% |
| Taxes | 450/3 | €14,479 | €5,930 | -€8,549 | -59.0% |
| Remuneration and social security | 454/9 | €15,188 | €17,525 | +€2,336 | +15.4% |
| Other amounts payable | 47/48 | €60,000 | €45,000 | -€15,000 | -25.0% |
| Accrued charges and deferred income | 492/3 | - | €972 | +€972 | |
| Remuneration, social security and pensions | 62 | €248,765 | €248,580 | -€185 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,215 | €11,936 | -€3,279 | -21.6% |
| Other operating charges | 640/8 | €15,121 | €2,782 | -€12,339 | -81.6% |
| Gross operating margin | 9900 | €391,932 | €328,825 | -€63,107 | -16.1% |
| Operating profit (loss) | 9901 | €112,831 | €65,528 | -€47,304 | -41.9% |
| Financial income | 75/76B | €1,906 | €3,223 | +€1,318 | +69.1% |
| Recurring financial income | 75 | €1,906 | €3,223 | +€1,318 | +69.1% |
| Financial charges | 65/66B | €9,148 | €6,171 | -€2,976 | -32.5% |
| Recurring financial charges | 65 | €9,148 | €6,171 | -€2,976 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €105,589 | €62,580 | -€43,010 | -40.7% |
| Income taxes | 67/77 | €27,568 | €15,496 | -€12,072 | -43.8% |
| Profit (loss) for the period | 9904 | €78,022 | €47,084 | -€30,938 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,022 | €47,084 | -€30,938 | -39.7% |
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.