SPANOGHE: 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.
SPANOGHE
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+97.5%), from €1.1m to €2.1m
- Revaluation surpluses +€1.1m
new in 2025: €1.1m
- Other debts -€42,755
down €42,755 (-4.6%), from €923,696 to €880,941
- Depreciation +€15,438
up €15,438 (+40.0%), from €38,619 to €54,058
- Gross operating margin -€3,321
down €3,321 (-7.5%), from €44,152 to €40,831
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 | €1,066,188 | €2,098,405 | +€1.0m | +96.8% |
| Fixed assets | 21/28 | €1,062,021 | €2,096,969 | +€1.0m | +97.5% |
| Tangible fixed assets | 22/27 | €1,062,021 | €2,096,969 | +€1.0m | +97.5% |
| Land and buildings | 22 | €1,062,021 | €2,096,969 | +€1.0m | +97.5% |
| Current assets | 29/58 | €4,167 | €1,436 | -€2,731 | -65.5% |
| Cash at bank and in hand | 54/58 | €4,167 | €1,436 | -€2,731 | -65.5% |
| Total equity and liabilities | 10/49 | €1,066,188 | €2,098,405 | +€1.0m | +96.8% |
| Equity | 10/15 | €142,492 | €1,212,613 | +€1.1m | +751% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,085,975 | +€1.1m | |
| Reserves | 13 | €15,438 | €18,470 | +€3,031 | +19.6% |
| Non-distributable reserves | 130/1 | €15,438 | €15,438 | = | 0.0% |
| Legal reserve | 130 | €15,438 | €15,438 | = | 0.0% |
| Distributable reserves | 133 | - | €3,031 | +€3,031 | |
| Profit (loss) carried forward | 14 | -€244,786 | -€263,671 | -€18,885 | -7.7% |
| Amounts payable | 17/49 | €923,696 | €885,792 | -€37,904 | -4.1% |
| Amounts payable within one year | 42/48 | €923,696 | €885,792 | -€37,904 | -4.1% |
| Trade debts | 44 | - | €4,851 | +€4,851 | |
| Suppliers | 440/4 | - | €4,851 | +€4,851 | |
| Other amounts payable | 47/48 | €923,696 | €880,941 | -€42,755 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,619 | €54,058 | +€15,438 | +40.0% |
| Other operating charges | 640/8 | €5,334 | €5,547 | +€213 | +4.0% |
| Gross operating margin | 9900 | €44,152 | €40,831 | -€3,321 | -7.5% |
| Operating profit (loss) | 9901 | €198 | -€18,774 | -€18,972 | |
| Financial charges | 65/66B | €113 | €111 | -€2 | -2.1% |
| Recurring financial charges | 65 | €113 | €111 | -€2 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €85 | -€18,885 | -€18,970 | |
| Profit (loss) for the period | 9904 | €85 | -€18,885 | -€18,970 | |
| Profit (loss) for the period to be appropriated | 9905 | €85 | -€18,885 | -€18,970 |
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.