SPANHOVE: what changed
Two fiscal 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.
SPANHOVE
Largest movements
- Stocks and contracts -€104,363
down €104,363 (-100.0%), from €104,363 to €0
- Cash -€91,292
down €91,292 (-58.8%), from €155,332 to €64,040
mainly Contributions, distributions and other (-€143,000) and Tax, wage and social debts (-€32,692)
- Tangible fixed assets -€13,090
down €13,090 (-100.0%), from €13,090 to €0
of which Other tangible fixed assets: -€10,128
- Receivables within one year +€3,958
up €3,958 (+154.7%), from €2,558 to €6,516
of which Other amounts receivable: +€6,219
- Reserves -€164,341
down €164,341 (-80.1%), from €205,059 to €40,718
of which Distributable reserves: -€147,582
- Tax, wage and social debts -€32,692
down €32,692 (-97.4%), from €33,552 to €860
- Other debts -€5,155
down €5,155 (-34.1%), from €15,133 to €9,978
- Trade debts -€4,842
down €4,842 (-100.0%), from €4,842 to €0
- Gross operating margin -€30,505
down €30,505, from €23,564 to -€6,940
- Write-downs +€16,327
up €16,327, from -€16,327 to €0
- Taxes -€11,843
down €11,843 (-98.0%), from €12,081 to €238
- Financial income -€6,456
down €6,456 (-93.9%), from €6,873 to €417
- Depreciation -€4,039
down €4,039 (-100.0%), from €4,039 to €0
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 | €278,002 | €70,556 | -€207,446 | -74.6% |
| Fixed assets | 21/28 | €13,090 | €0 | -€13,090 | -100.0% |
| Tangible fixed assets | 22/27 | €13,090 | €0 | -€13,090 | -100.0% |
| Plant, machinery and equipment | 23 | €42 | €0 | -€42 | -100.0% |
| Furniture and vehicles | 24 | €2,920 | €0 | -€2,920 | -100.0% |
| Other tangible fixed assets | 26 | €10,128 | €0 | -€10,128 | -100.0% |
| Current assets | 29/58 | €264,912 | €70,556 | -€194,357 | -73.4% |
| Stocks and contracts in progress | 3 | €104,363 | €0 | -€104,363 | -100.0% |
| Stocks | 30/36 | €104,363 | €0 | -€104,363 | -100.0% |
| Amounts receivable within one year | 40/41 | €2,558 | €6,516 | +€3,958 | +154.7% |
| Trade receivables | 40 | €2,261 | €0 | -€2,261 | -100.0% |
| Other amounts receivable | 41 | €297 | €6,516 | +€6,219 | +2093.1% |
| Cash at bank and in hand | 54/58 | €155,332 | €64,040 | -€91,292 | -58.8% |
| Deferred charges and accrued income | 490/1 | €2,659 | €0 | -€2,659 | -100.0% |
| Total equity and liabilities | 10/49 | €278,002 | €70,556 | -€207,446 | -74.6% |
| Equity | 10/15 | €224,059 | €59,718 | -€164,341 | -73.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €205,059 | €40,718 | -€164,341 | -80.1% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,758 | €0 | -€16,758 | -100.0% |
| Distributable reserves | 133 | €186,401 | €38,818 | -€147,582 | -79.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,943 | €10,838 | -€43,106 | -79.9% |
| Amounts payable within one year | 42/48 | €53,526 | €10,838 | -€42,688 | -79.8% |
| Trade debts | 44 | €4,842 | €0 | -€4,842 | -100.0% |
| Suppliers | 440/4 | €4,842 | €0 | -€4,842 | -100.0% |
| Taxes, remuneration and social security | 45 | €33,552 | €860 | -€32,692 | -97.4% |
| Taxes | 450/3 | €33,552 | €860 | -€32,692 | -97.4% |
| Other amounts payable | 47/48 | €15,133 | €9,978 | -€5,155 | -34.1% |
| Accrued charges and deferred income | 492/3 | €417 | €0 | -€417 | -100.0% |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,039 | €0 | -€4,039 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,327 | €0 | +€16,327 | |
| Other operating charges | 640/8 | €1,604 | €1,423 | -€180 | -11.2% |
| Non-recurring operating charges | 66A | - | €12,039 | +€12,039 | |
| Gross operating margin | 9900 | €23,564 | -€6,940 | -€30,505 | |
| Operating profit (loss) | 9901 | €34,249 | -€20,402 | -€54,651 | |
| Financial income | 75/76B | €6,873 | €417 | -€6,456 | -93.9% |
| Recurring financial income | 75 | €6,873 | €417 | -€6,456 | -93.9% |
| Financial charges | 65/66B | €1,160 | €1,117 | -€43 | -3.7% |
| Recurring financial charges | 65 | €1,160 | €1,117 | -€43 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €39,961 | -€21,103 | -€61,064 | |
| Income taxes | 67/77 | €12,081 | €238 | -€11,843 | -98.0% |
| Profit (loss) for the period | 9904 | €27,880 | -€21,341 | -€49,221 | |
| Transfer from tax-exempt reserves | 789 | - | €16,758 | +€16,758 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,880 | -€4,582 | -€32,463 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.