SPARAXIS: 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.
SPARAXIS
Largest movements
- Cash -€2.9m
down €2.9m (-97.6%), from €3.0m to €71,008
mainly Current investments (-€2.1m) and Contributions, distributions and other (-€1.0m)
- Current investments +€2.1m
new in 2025: €2.1m
- Profit (loss) carried forward -€732,974
no longer reported in 2025 (was €732,974)
- Reserves -€72,266
down €72,266 (-6.3%), from €1.2m to €1.1m
of which Distributable reserves: -€72,266
- Financial income -€188,533
down €188,533 (-79.7%), from €236,652 to €48,119
of which Non-recurring financial income: -€173,092
- Gross operating margin +€47,105
up €47,105 (+23.4%), from €201,541 to €248,646
- Write-downs +€25,505
new in 2025: €25,505
- Taxes +€6,737
up €6,737 (+10.0%), from €67,496 to €74,233
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 | €3,212,646 | €2,390,716 | -€821,931 | -25.6% |
| Current assets | 29/58 | €3,212,646 | €2,390,716 | -€821,931 | -25.6% |
| Amounts receivable within one year | 40/41 | €230,197 | €212,930 | -€17,267 | -7.5% |
| Trade receivables | 40 | €214,108 | €212,865 | -€1,243 | -0.6% |
| Other amounts receivable | 41 | €16,089 | €65 | -€16,024 | -99.6% |
| Current investments | 50/53 | - | €2,100,000 | +€2.1m | |
| Cash at bank and in hand | 54/58 | €2,982,449 | €71,008 | -€2.9m | -97.6% |
| Deferred charges and accrued income | 490/1 | - | €6,778 | +€6,778 | |
| Total equity and liabilities | 10/49 | €3,212,646 | €2,390,716 | -€821,931 | -25.6% |
| Equity | 10/15 | €2,156,224 | €1,350,984 | -€805,241 | -37.3% |
| Contributions | 10/11 | €273,250 | €273,250 | = | 0.0% |
| Capital | 10 | €273,250 | €273,250 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Uncalled capital | 101 | €726,750 | €726,750 | = | 0.0% |
| Reserves | 13 | €1,150,000 | €1,077,734 | -€72,266 | -6.3% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €1,050,000 | €977,734 | -€72,266 | -6.9% |
| Profit (loss) carried forward | 14 | €732,974 | - | -€732,974 | |
| Amounts payable | 17/49 | €1,056,422 | €1,039,732 | -€16,690 | -1.6% |
| Amounts payable within one year | 42/48 | €1,056,422 | €1,039,732 | -€16,690 | -1.6% |
| Trade debts | 44 | €6,319 | €2,762 | -€3,557 | -56.3% |
| Suppliers | 440/4 | €6,319 | €2,762 | -€3,557 | -56.3% |
| Taxes, remuneration and social security | 45 | €50,103 | €36,970 | -€13,133 | -26.2% |
| Taxes | 450/3 | €50,103 | €36,970 | -€13,133 | -26.2% |
| Other amounts payable | 47/48 | €1,000,000 | €1,000,000 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,505 | +€25,505 | |
| Other operating charges | 640/8 | €660 | €1,658 | +€998 | +151.2% |
| Gross operating margin | 9900 | €201,541 | €248,646 | +€47,105 | +23.4% |
| Operating profit (loss) | 9901 | €200,881 | €221,483 | +€20,603 | +10.3% |
| Financial income | 75/76B | €236,652 | €48,119 | -€188,533 | -79.7% |
| Recurring financial income | 75 | €63,560 | €48,119 | -€15,441 | -24.3% |
| Non-recurring financial income | 76B | €173,092 | - | -€173,092 | |
| Financial charges | 65/66B | €453 | €610 | +€157 | +34.6% |
| Recurring financial charges | 65 | €453 | €610 | +€157 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €437,079 | €268,992 | -€168,087 | -38.5% |
| Income taxes | 67/77 | €67,496 | €74,233 | +€6,737 | +10.0% |
| Profit (loss) for the period | 9904 | €369,583 | €194,759 | -€174,824 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €369,583 | €194,759 | -€174,824 | -47.3% |
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 6 October 2026 via checked.be.