SPALO: 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.
SPALO
Largest movements
- Tangible fixed assets -€10,080
down €10,080 (-41.6%), from €24,259 to €14,179
of which Plant, machinery and equipment: -€5,916
- Cash +€2,450
up €2,450 (+65170.2%), from €4 to €2,454
mainly Depreciation (+€12,656) and Trade debts (+€3,466)
- Profit (loss) carried forward -€5,854
new in 2025: -€5,854
- Trade debts +€3,466
up €3,466 (+901.2%), from €385 to €3,850
- Debts after one year -€2,216
no longer reported in 2025 (was €2,216)
- Current portion of long-term debt -€2,069
down €2,069 (-48.3%), from €4,286 to €2,217
- Tax, wage and social debts -€503
no longer reported in 2025 (was €503)
- Gross operating margin -€12,502
down €12,502 (-60.9%), from €20,537 to €8,035
- Taxes -€2,464
no longer reported in 2025 (was €2,464)
- Depreciation +€485
up €485 (+4.0%), from €12,171 to €12,656
- Financial charges +€307
up €307 (+41.7%), from €735 to €1,042
- Other operating charges -€229
down €229 (-54.4%), from €420 to €192
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.
Cash bridge derived
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 | €44,197 | €37,020 | -€7,177 | -16.2% |
| Fixed assets | 21/28 | €24,259 | €14,179 | -€10,080 | -41.6% |
| Tangible fixed assets | 22/27 | €24,259 | €14,179 | -€10,080 | -41.6% |
| Plant, machinery and equipment | 23 | €16,021 | €10,106 | -€5,916 | -36.9% |
| Furniture and vehicles | 24 | €5,351 | €1,529 | -€3,822 | -71.4% |
| Other tangible fixed assets | 26 | €2,886 | €2,544 | -€342 | -11.9% |
| Current assets | 29/58 | €19,938 | €22,841 | +€2,903 | +14.6% |
| Amounts receivable within one year | 40/41 | €19,684 | €19,959 | +€275 | +1.4% |
| Trade receivables | 40 | €7,954 | €11,243 | +€3,289 | +41.4% |
| Other amounts receivable | 41 | €11,730 | €8,716 | -€3,014 | -25.7% |
| Cash at bank and in hand | 54/58 | €4 | €2,454 | +€2,450 | +65170.2% |
| Deferred charges and accrued income | 490/1 | €250 | €428 | +€177 | +70.8% |
| Total equity and liabilities | 10/49 | €44,197 | €37,020 | -€7,177 | -16.2% |
| Equity | 10/15 | €36,807 | €30,953 | -€5,854 | -15.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €30,607 | €30,607 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €28,747 | €28,747 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,854 | -€5,854 | |
| Amounts payable | 17/49 | €7,390 | €6,067 | -€1,323 | -17.9% |
| Amounts payable after more than one year | 17 | €2,216 | - | -€2,216 | |
| Financial debts | 170/4 | €2,216 | - | -€2,216 | |
| Amounts payable within one year | 42/48 | €5,174 | €6,067 | +€893 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €4,286 | €2,217 | -€2,069 | -48.3% |
| Trade debts | 44 | €385 | €3,850 | +€3,466 | +901.2% |
| Suppliers | 440/4 | €385 | €3,850 | +€3,466 | +901.2% |
| Taxes, remuneration and social security | 45 | €503 | - | -€503 | |
| Taxes | 450/3 | €503 | - | -€503 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,171 | €12,656 | +€485 | +4.0% |
| Other operating charges | 640/8 | €420 | €192 | -€229 | -54.4% |
| Gross operating margin | 9900 | €20,537 | €8,035 | -€12,502 | -60.9% |
| Operating profit (loss) | 9901 | €7,946 | -€4,812 | -€12,758 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €735 | €1,042 | +€307 | +41.7% |
| Recurring financial charges | 65 | €735 | €1,042 | +€307 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €7,212 | -€5,854 | -€13,066 | |
| Income taxes | 67/77 | €2,464 | - | -€2,464 | |
| Profit (loss) for the period | 9904 | €4,749 | -€5,854 | -€10,603 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,749 | -€5,854 | -€10,603 |
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 11 October 2026 via checked.be.