SPANLUX: 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.
SPANLUX
Largest movements
- Receivables within one year +€185,164
up €185,164 (+56.6%), from €327,028 to €512,192
of which Other amounts receivable: +€196,216
- Current investments -€77,878
down €77,878 (-100.0%), from €77,878 to €0
- Tangible fixed assets -€54,572
down €54,572 (-4.8%), from €1.1m to €1.1m
of which Leasing and similar rights: -€37,133
- Short-term financial debts +€52,589
up €52,589 (+42.1%), from €125,000 to €177,589
- Debts after one year -€49,424
down €49,424 (-5.6%), from €884,275 to €834,851
- Accrued charges and deferred income -€38,333
down €38,333 (-3.9%), from €994,155 to €955,823
- Other debts +€37,754
up €37,754 (+21.9%), from €172,020 to €209,774
- Gross operating margin +€245,414
up €245,414 (+62.2%), from €394,873 to €640,288
- Staff costs +€92,984
up €92,984 (+81.0%), from €114,821 to €207,805
- Taxes +€44,703
up €44,703 (+157.4%), from €28,394 to €73,097
- Depreciation -€7,525
down €7,525 (-8.4%), from €89,435 to €81,909
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 | €2,310,958 | €2,302,794 | -€8,163 | -0.4% |
| Fixed assets | 21/28 | €1,142,486 | €1,079,037 | -€63,448 | -5.6% |
| Intangible fixed assets | 21 | €8,877 | €0 | -€8,877 | -100.0% |
| Tangible fixed assets | 22/27 | €1,133,609 | €1,079,037 | -€54,572 | -4.8% |
| Plant, machinery and equipment | 23 | €20,442 | €24,898 | +€4,455 | +21.8% |
| Furniture and vehicles | 24 | €40,937 | €27,686 | -€13,251 | -32.4% |
| Leasing and similar rights | 25 | €964,136 | €927,003 | -€37,133 | -3.9% |
| Other tangible fixed assets | 26 | €108,093 | €99,451 | -€8,642 | -8.0% |
| Current assets | 29/58 | €1,168,472 | €1,223,757 | +€55,285 | +4.7% |
| Stocks and contracts in progress | 3 | €91,973 | €69,728 | -€22,246 | -24.2% |
| Stocks | 30/36 | €91,973 | €69,728 | -€22,246 | -24.2% |
| Amounts receivable within one year | 40/41 | €327,028 | €512,192 | +€185,164 | +56.6% |
| Trade receivables | 40 | €37,543 | €26,491 | -€11,052 | -29.4% |
| Other amounts receivable | 41 | €289,485 | €485,700 | +€196,216 | +67.8% |
| Current investments | 50/53 | €77,878 | €0 | -€77,878 | -100.0% |
| Cash at bank and in hand | 54/58 | €54,549 | €47,578 | -€6,971 | -12.8% |
| Deferred charges and accrued income | 490/1 | €617,044 | €594,260 | -€22,784 | -3.7% |
| Total equity and liabilities | 10/49 | €2,310,958 | €2,302,794 | -€8,163 | -0.4% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,292,358 | €2,284,194 | -€8,163 | -0.4% |
| Amounts payable after more than one year | 17 | €884,275 | €834,851 | -€49,424 | -5.6% |
| Financial debts | 170/4 | €884,275 | €834,851 | -€49,424 | -5.6% |
| Amounts payable within one year | 42/48 | €413,927 | €493,521 | +€79,593 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €64,053 | €58,924 | -€5,129 | -8.0% |
| Financial debts | 43 | €125,000 | €177,589 | +€52,589 | +42.1% |
| Credit institutions | 430/8 | €125,000 | €177,589 | +€52,589 | +42.1% |
| Trade debts | 44 | €48,986 | €41,242 | -€7,744 | -15.8% |
| Suppliers | 440/4 | €48,986 | €41,242 | -€7,744 | -15.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,868 | €5,992 | +€2,124 | +54.9% |
| Taxes | 450/3 | €120 | €81 | -€39 | -32.6% |
| Remuneration and social security | 454/9 | €3,748 | €5,911 | +€2,163 | +57.7% |
| Other amounts payable | 47/48 | €172,020 | €209,774 | +€37,754 | +21.9% |
| Accrued charges and deferred income | 492/3 | €994,155 | €955,823 | -€38,333 | -3.9% |
| Non-recurring operating income | 76A | €79,906 | €113,794 | +€33,888 | +42.4% |
| Remuneration, social security and pensions | 62 | €114,821 | €207,805 | +€92,984 | +81.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,435 | €81,909 | -€7,525 | -8.4% |
| Other operating charges | 640/8 | €5,831 | €5,621 | -€210 | -3.6% |
| Non-recurring operating charges | 66A | €24,066 | €23,566 | -€500 | -2.1% |
| Gross operating margin | 9900 | €394,873 | €640,288 | +€245,414 | +62.2% |
| Operating profit (loss) | 9901 | €160,721 | €321,386 | +€160,665 | +100.0% |
| Financial income | 75/76B | €4,749 | €4,719 | -€31 | -0.6% |
| Recurring financial income | 75 | €4,749 | €4,719 | -€31 | -0.6% |
| Financial charges | 65/66B | €46,976 | €43,234 | -€3,741 | -8.0% |
| Recurring financial charges | 65 | €46,976 | €43,234 | -€3,741 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €118,495 | €282,871 | +€164,376 | +138.7% |
| Income taxes | 67/77 | €28,394 | €73,097 | +€44,703 | +157.4% |
| Profit (loss) for the period | 9904 | €90,101 | €209,774 | +€119,673 | +132.8% |
| Profit (loss) for the period to be appropriated | 9905 | €90,101 | €209,774 | +€119,673 | +132.8% |
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.