SPARES: 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.
SPARES
Largest movements
- Receivables within one year -€316,416
down €316,416 (-22.6%), from €1.4m to €1.1m
of which Other amounts receivable: -€217,802
- Cash +€232,656
up €232,656 (+44.6%), from €521,565 to €754,222
mainly Trade debts (+€461,501) and Receivables within one year (+€316,416)
- Stocks and contracts +€176,344
up €176,344 (+240.7%), from €73,272 to €249,615
- Trade debts +€461,501
up €461,501 (+35.6%), from €1.3m to €1.8m
- Advances received -€211,715
down €211,715 (-100.0%), from €211,715 to €0
- Other debts -€180,000
down €180,000 (-64.3%), from €280,000 to €100,000
- Gross operating margin +€20,250
up €20,250 (+46.3%), from €43,697 to €63,946
- Financial charges +€18,804
up €18,804 (+140.9%), from €13,347 to €32,151
- Taxes +€2,647
up €2,647 (+29.7%), from €8,908 to €11,555
- Other operating charges -€2,330
down €2,330 (-69.6%), from €3,347 to €1,017
- Financial income -€2,169
down €2,169 (-100.0%), from €2,169 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 | €2,142,617 | €2,235,201 | +€92,584 | +4.3% |
| Fixed assets | 21/28 | €148,200 | €148,200 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €148,200 | €148,200 | = | 0.0% |
| Current assets | 29/58 | €1,994,417 | €2,087,001 | +€92,584 | +4.6% |
| Stocks and contracts in progress | 3 | €73,272 | €249,615 | +€176,344 | +240.7% |
| Stocks | 30/36 | €73,272 | €249,615 | +€176,344 | +240.7% |
| Amounts receivable within one year | 40/41 | €1,399,580 | €1,083,164 | -€316,416 | -22.6% |
| Trade receivables | 40 | €927,676 | €829,062 | -€98,614 | -10.6% |
| Other amounts receivable | 41 | €471,904 | €254,102 | -€217,802 | -46.2% |
| Cash at bank and in hand | 54/58 | €521,565 | €754,222 | +€232,656 | +44.6% |
| Total equity and liabilities | 10/49 | €2,142,617 | €2,235,201 | +€92,584 | +4.3% |
| Equity | 10/15 | €345,221 | €364,444 | +€19,223 | +5.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €330,221 | €349,444 | +€19,223 | +5.8% |
| Amounts payable | 17/49 | €1,797,397 | €1,870,758 | +€73,361 | +4.1% |
| Amounts payable within one year | 42/48 | €1,797,397 | €1,870,758 | +€73,361 | +4.1% |
| Trade debts | 44 | €1,297,702 | €1,759,203 | +€461,501 | +35.6% |
| Suppliers | 440/4 | €1,297,702 | €1,759,203 | +€461,501 | +35.6% |
| Advances received on contracts in progress | 46 | €211,715 | €0 | -€211,715 | -100.0% |
| Taxes, remuneration and social security | 45 | €7,980 | €11,555 | +€3,575 | +44.8% |
| Taxes | 450/3 | €7,980 | €11,555 | +€3,575 | +44.8% |
| Other amounts payable | 47/48 | €280,000 | €100,000 | -€180,000 | -64.3% |
| Other operating charges | 640/8 | €3,347 | €1,017 | -€2,330 | -69.6% |
| Gross operating margin | 9900 | €43,697 | €63,946 | +€20,250 | +46.3% |
| Operating profit (loss) | 9901 | €40,349 | €62,929 | +€22,580 | +56.0% |
| Financial income | 75/76B | €2,169 | €0 | -€2,169 | -100.0% |
| Recurring financial income | 75 | €2,169 | €0 | -€2,169 | -100.0% |
| Financial charges | 65/66B | €13,347 | €32,151 | +€18,804 | +140.9% |
| Recurring financial charges | 65 | €13,347 | €32,151 | +€18,804 | +140.9% |
| Profit (loss) for the period before taxes | 9903 | €29,171 | €30,778 | +€1,607 | +5.5% |
| Income taxes | 67/77 | €8,908 | €11,555 | +€2,647 | +29.7% |
| Profit (loss) for the period | 9904 | €20,263 | €19,223 | -€1,040 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,263 | €19,223 | -€1,040 | -5.1% |
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 9 October 2026 via checked.be.