SPARKALIS: what changed
SPARKALIS
Largest movements
- Financial fixed assets +€2.1m
up €2.1m (+24.1%), from €8.8m to €10.9m
- Receivables after one year +€1.6m
new in 2025: €1.6m
- Cash -€1.0m
down €1.0m (-66.5%), from €1.6m to €529,333
mainly Investment in fixed assets (net) (-€2.1m) and Receivables after one year (-€1.6m)
- Receivables within one year -€973,422
down €973,422 (-69.2%), from €1.4m to €434,031
of which Other amounts receivable: -€981,407
- Contributions +€3.0m
up €3.0m (+25.0%), from €12.0m to €15.0m
- Profit (loss) carried forward -€1.4m
down €1.4m (-91.0%), from -€1.6m to -€3.0m
- Financial charges +€1.2m
up €1.2m (+2,924%), from €39,537 to €1.2m
of which Non-recurring financial charges: +€1.2m
- Gross operating margin -€142,858
down €142,858 (-103%), from -€139,090 to -€281,948
- Financial income -€18,135
down €18,135 (-22.6%), from €80,352 to €62,217
of which Financial income: -€47,322
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,851,275 | €13,510,211 | +€1.7m | +14.0% |
| Formation expenses | 20 | €1,904 | €952 | -€952 | -50.0% |
| Fixed assets | 21/28 | €8,786,636 | €10,905,787 | +€2.1m | +24.1% |
| Financial fixed assets | 28 | €8,786,636 | €10,905,787 | +€2.1m | +24.1% |
| Current assets | 29/58 | €3,062,735 | €2,603,472 | -€459,263 | -15.0% |
| Amounts receivable after more than one year | 29 | - | €1,556,649 | +€1.6m | |
| Trade receivables | 290 | - | €1,556,649 | +€1.6m | |
| Amounts receivable within one year | 40/41 | €1,407,453 | €434,031 | -€973,422 | -69.2% |
| Trade receivables | 40 | €84,104 | €92,090 | +€7,985 | +9.5% |
| Other amounts receivable | 41 | €1,323,348 | €341,942 | -€981,407 | -74.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,578,719 | €529,333 | -€1.0m | -66.5% |
| Deferred charges and accrued income | 490/1 | €76,564 | €83,460 | +€6,896 | +9.0% |
| Total equity and liabilities | 10/49 | €11,851,275 | €13,510,211 | +€1.7m | +14.0% |
| Equity | 10/15 | €10,437,927 | €12,018,804 | +€1.6m | +15.1% |
| Contributions | 10/11 | €11,995,272 | €14,993,314 | +€3.0m | +25.0% |
| Capital | 10 | €11,995,272 | €14,993,314 | +€3.0m | +25.0% |
| Issued capital | 100 | €11,995,272 | €14,993,314 | +€3.0m | +25.0% |
| Profit (loss) carried forward | 14 | -€1,557,346 | -€2,974,510 | -€1.4m | -91.0% |
| Amounts payable | 17/49 | €1,413,348 | €1,491,407 | +€78,058 | +5.5% |
| Amounts payable after more than one year | 17 | €1,218,556 | €1,163,313 | -€55,243 | -4.5% |
| Financial debts | 170/4 | €1,218,556 | €1,163,313 | -€55,243 | -4.5% |
| Amounts payable within one year | 42/48 | €82,666 | €202,608 | +€119,942 | +145% |
| Trade debts | 44 | €82,666 | €202,608 | +€119,942 | +145% |
| Suppliers | 440/4 | €82,666 | €202,608 | +€119,942 | +145% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €112,126 | €125,485 | +€13,359 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €952 | €952 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€139,090 | -€281,948 | -€142,858 | -103% |
| Operating profit (loss) | 9901 | -€141,009 | -€283,898 | -€142,889 | -101% |
| Financial income | 75/76B | €80,352 | €62,217 | -€18,135 | -22.6% |
| Recurring financial income | 75 | €80,352 | €33,031 | -€47,322 | -58.9% |
| Non-recurring financial income | 76B | - | €29,186 | +€29,186 | |
| Financial charges | 65/66B | €39,537 | €1,195,483 | +€1.2m | +2,924% |
| Recurring financial charges | 65 | €39,537 | €28,600 | -€10,937 | -27.7% |
| Non-recurring financial charges | 66B | - | €1,166,883 | +€1.2m | |
| Profit (loss) for the period before taxes | 9903 | -€100,194 | -€1,417,164 | -€1.3m | -1,314% |
| Profit (loss) for the period | 9904 | -€100,194 | -€1,417,164 | -€1.3m | -1,314% |
| Profit (loss) for the period to be appropriated | 9905 | -€100,194 | -€1,417,164 | -€1.3m | -1,314% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.