SPANCO: 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.
SPANCO
Largest movements
- Tangible fixed assets -€27,067
down €27,067 (-26.9%), from €100,692 to €73,625
of which Furniture and vehicles: -€26,006
- Cash -€9,782
down €9,782 (-42.8%), from €22,829 to €13,048
mainly Net result for the year (-€23,269) and Debts after one year (-€16,284)
- Receivables within one year -€4,806
down €4,806 (-29.1%), from €16,489 to €11,683
of which Trade receivables: -€4,857
- Profit (loss) carried forward -€23,269
down €23,269 (-41.9%), from €55,482 to €32,214
- Debts after one year -€16,284
down €16,284 (-34.0%), from €47,927 to €31,644
- Tax, wage and social debts -€1,923
down €1,923 (-27.1%), from €7,091 to €5,168
of which Taxes: -€1,923
- Gross operating margin -€1,204
down €1,204 (-12.0%), from €10,062 to €8,858
- Depreciation -€511
down €511 (-1.8%), from €28,943 to €28,432
- Financial charges -€407
down €407 (-12.7%), from €3,211 to €2,804
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 | €142,593 | €100,913 | -€41,680 | -29.2% |
| Fixed assets | 21/28 | €100,692 | €73,625 | -€27,067 | -26.9% |
| Tangible fixed assets | 22/27 | €100,692 | €73,625 | -€27,067 | -26.9% |
| Plant, machinery and equipment | 23 | €1,577 | €836 | -€741 | -47.0% |
| Furniture and vehicles | 24 | €98,050 | €72,044 | -€26,006 | -26.5% |
| Other tangible fixed assets | 26 | €1,064 | €744 | -€320 | -30.1% |
| Current assets | 29/58 | €41,901 | €27,289 | -€14,612 | -34.9% |
| Amounts receivable within one year | 40/41 | €16,489 | €11,683 | -€4,806 | -29.1% |
| Trade receivables | 40 | €16,465 | €11,608 | -€4,857 | -29.5% |
| Other amounts receivable | 41 | €25 | €75 | +€51 | +205.9% |
| Cash at bank and in hand | 54/58 | €22,829 | €13,048 | -€9,782 | -42.8% |
| Deferred charges and accrued income | 490/1 | €2,582 | €2,558 | -€25 | -1.0% |
| Total equity and liabilities | 10/49 | €142,593 | €100,913 | -€41,680 | -29.2% |
| Equity | 10/15 | €61,682 | €38,414 | -€23,269 | -37.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,482 | €32,214 | -€23,269 | -41.9% |
| Amounts payable | 17/49 | €80,911 | €62,500 | -€18,411 | -22.8% |
| Amounts payable after more than one year | 17 | €47,927 | €31,644 | -€16,284 | -34.0% |
| Financial debts | 170/4 | €47,927 | €31,644 | -€16,284 | -34.0% |
| Amounts payable within one year | 42/48 | €32,983 | €30,856 | -€2,127 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €15,630 | €16,284 | +€654 | +4.2% |
| Trade debts | 44 | €1,068 | €484 | -€583 | -54.6% |
| Suppliers | 440/4 | €1,068 | €484 | -€583 | -54.6% |
| Taxes, remuneration and social security | 45 | €7,091 | €5,168 | -€1,923 | -27.1% |
| Taxes | 450/3 | €4,791 | €2,868 | -€1,923 | -40.1% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €9,195 | €8,920 | -€275 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,943 | €28,432 | -€511 | -1.8% |
| Other operating charges | 640/8 | €517 | €547 | +€30 | +5.9% |
| Gross operating margin | 9900 | €10,062 | €8,858 | -€1,204 | -12.0% |
| Operating profit (loss) | 9901 | -€19,398 | -€20,122 | -€724 | -3.7% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €3,211 | €2,804 | -€407 | -12.7% |
| Recurring financial charges | 65 | €3,211 | €2,804 | -€407 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | -€22,609 | -€22,920 | -€310 | -1.4% |
| Income taxes | 67/77 | €375 | €349 | -€26 | -7.0% |
| Profit (loss) for the period | 9904 | -€22,985 | -€23,269 | -€284 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,985 | -€23,269 | -€284 | -1.2% |
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 12 October 2026 via checked.be.