SPALEMA: 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.
SPALEMA
Largest movements
- Current investments +€45,000
up €45,000 (+60.4%), from €74,521 to €119,521
- Tangible fixed assets -€9,894
down €9,894 (-10.0%), from €99,348 to €89,454
of which Other tangible fixed assets: -€9,894
- Cash -€9,800
down €9,800 (-29.8%), from €32,940 to €23,140
mainly Contributions, distributions and other (-€47,196) and Current investments (-€45,000)
- Other debts +€20,616
up €20,616 (+64.4%), from €32,004 to €52,621
- Tax, wage and social debts +€5,603
up €5,603 (+37.8%), from €14,817 to €20,420
- Trade debts -€3,872
down €3,872 (-97.6%), from €3,969 to €97
- Gross operating margin +€7,895
up €7,895 (+10.8%), from €72,789 to €80,684
- Taxes -€4,654
down €4,654 (-31.1%), from €14,977 to €10,322
- Depreciation +€1,081
up €1,081 (+12.3%), from €8,813 to €9,894
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 | €207,958 | €232,114 | +€24,157 | +11.6% |
| Fixed assets | 21/28 | €99,348 | €89,454 | -€9,894 | -10.0% |
| Tangible fixed assets | 22/27 | €99,348 | €89,454 | -€9,894 | -10.0% |
| Land and buildings | 22 | €17,353 | €17,353 | = | 0.0% |
| Other tangible fixed assets | 26 | €81,996 | €72,101 | -€9,894 | -12.1% |
| Current assets | 29/58 | €108,610 | €142,661 | +€34,051 | +31.4% |
| Current investments | 50/53 | €74,521 | €119,521 | +€45,000 | +60.4% |
| Cash at bank and in hand | 54/58 | €32,940 | €23,140 | -€9,800 | -29.8% |
| Deferred charges and accrued income | 490/1 | €1,149 | - | -€1,149 | |
| Total equity and liabilities | 10/49 | €207,958 | €232,114 | +€24,157 | +11.6% |
| Equity | 10/15 | €116,668 | €118,477 | +€1,809 | +1.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €16,668 | €18,477 | +€1,809 | +10.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €6,668 | €8,477 | +€1,809 | +27.1% |
| Amounts payable | 17/49 | €91,290 | €113,637 | +€22,348 | +24.5% |
| Amounts payable after more than one year | 17 | €40,500 | €40,500 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Other amounts payable | 178/9 | €500 | €500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €50,790 | €73,137 | +€22,348 | +44.0% |
| Trade debts | 44 | €3,969 | €97 | -€3,872 | -97.6% |
| Suppliers | 440/4 | €3,969 | €97 | -€3,872 | -97.6% |
| Taxes, remuneration and social security | 45 | €14,817 | €20,420 | +€5,603 | +37.8% |
| Taxes | 450/3 | €14,817 | €20,420 | +€5,603 | +37.8% |
| Other amounts payable | 47/48 | €32,004 | €52,621 | +€20,616 | +64.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,813 | €9,894 | +€1,081 | +12.3% |
| Other operating charges | 640/8 | €8,056 | €8,305 | +€249 | +3.1% |
| Gross operating margin | 9900 | €72,789 | €80,684 | +€7,895 | +10.8% |
| Operating profit (loss) | 9901 | €55,919 | €62,485 | +€6,566 | +11.7% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €3,593 | €3,163 | -€431 | -12.0% |
| Recurring financial charges | 65 | €3,593 | €3,163 | -€431 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €52,326 | €59,328 | +€7,002 | +13.4% |
| Income taxes | 67/77 | €14,977 | €10,322 | -€4,654 | -31.1% |
| Profit (loss) for the period | 9904 | €37,349 | €49,005 | +€11,656 | +31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,349 | €49,005 | +€11,656 | +31.2% |
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 13 October 2026 via checked.be.