SPANDAS: 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.
SPANDAS
Largest movements
- Cash +€104,797
up €104,797 (+269%), from €38,974 to €143,771
mainly Net result for the year (+€75,352) and Other debts (+€19,847)
- Intangible fixed assets -€4,181
down €4,181 (-77.8%), from €5,373 to €1,191
- Tangible fixed assets -€3,805
down €3,805 (-46.7%), from €8,146 to €4,341
of which Furniture and vehicles: -€2,225
- Receivables within one year +€2,698
up €2,698 (+15.6%), from €17,267 to €19,965
of which Trade receivables: +€11,162
- Profit (loss) carried forward +€70,596
no longer reported in 2025 (was -€70,596)
- Other debts +€19,847
new in 2025: €19,847
- Reserves +€4,756
up €4,756 (+3.7%), from €128,435 to €133,191
- Tax, wage and social debts +€3,821
up €3,821 (+1,438%), from €266 to €4,087
- Trade debts +€2,174
up €2,174 (+586%), from €371 to €2,545
- Gross operating margin +€127,226
up €127,226, from -€26,534 to €100,691
- Taxes +€13,559
up €13,559 (+5,103%), from €266 to €13,825
- Other operating charges +€1,979
up €1,979 (+170%), from €1,166 to €3,144
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 | €70,959 | €172,071 | +€101,112 | +142% |
| Fixed assets | 21/28 | €13,519 | €5,532 | -€7,987 | -59.1% |
| Intangible fixed assets | 21 | €5,373 | €1,191 | -€4,181 | -77.8% |
| Tangible fixed assets | 22/27 | €8,146 | €4,341 | -€3,805 | -46.7% |
| Plant, machinery and equipment | 23 | €1,581 | - | -€1,581 | |
| Furniture and vehicles | 24 | €6,566 | €4,341 | -€2,225 | -33.9% |
| Current assets | 29/58 | €57,440 | €166,539 | +€109,099 | +190% |
| Amounts receivable within one year | 40/41 | €17,267 | €19,965 | +€2,698 | +15.6% |
| Trade receivables | 40 | €8,803 | €19,965 | +€11,162 | +127% |
| Other amounts receivable | 41 | €8,464 | - | -€8,464 | |
| Cash at bank and in hand | 54/58 | €38,974 | €143,771 | +€104,797 | +269% |
| Deferred charges and accrued income | 490/1 | €1,199 | €2,802 | +€1,603 | +134% |
| Total equity and liabilities | 10/49 | €70,959 | €172,071 | +€101,112 | +142% |
| Equity | 10/15 | €70,239 | €145,591 | +€75,352 | +107% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €128,435 | €133,191 | +€4,756 | +3.7% |
| Distributable reserves | 133 | €128,435 | €133,191 | +€4,756 | +3.7% |
| Profit (loss) carried forward | 14 | -€70,596 | - | +€70,596 | |
| Amounts payable | 17/49 | €720 | €26,480 | +€25,760 | +3,578% |
| Amounts payable within one year | 42/48 | €637 | €26,480 | +€25,843 | +4,058% |
| Trade debts | 44 | €371 | €2,545 | +€2,174 | +586% |
| Suppliers | 440/4 | €371 | €2,545 | +€2,174 | +586% |
| Taxes, remuneration and social security | 45 | €266 | €4,087 | +€3,821 | +1,438% |
| Taxes | 450/3 | €266 | €4,087 | +€3,821 | +1,438% |
| Other amounts payable | 47/48 | - | €19,847 | +€19,847 | |
| Accrued charges and deferred income | 492/3 | €83 | - | -€83 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,977 | €6,406 | -€571 | -8.2% |
| Other operating charges | 640/8 | €1,166 | €3,144 | +€1,979 | +170% |
| Non-recurring operating charges | 66A | - | €1,581 | +€1,581 | |
| Gross operating margin | 9900 | -€26,534 | €100,691 | +€127,226 | |
| Operating profit (loss) | 9901 | -€34,677 | €89,560 | +€124,237 | |
| Financial income | 75/76B | €1 | €0 | -€0 | -41.7% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -41.7% |
| Financial charges | 65/66B | €555 | €384 | -€171 | -30.9% |
| Recurring financial charges | 65 | €555 | €384 | -€171 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | -€35,231 | €89,177 | +€124,408 | |
| Income taxes | 67/77 | €266 | €13,825 | +€13,559 | +5,103% |
| Profit (loss) for the period | 9904 | -€35,497 | €75,352 | +€110,849 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,497 | €75,352 | +€110,849 |
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 15 October 2026 via checked.be.