SPARTAN: 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.
SPARTAN
Largest movements
- Receivables after one year -€25,530
no longer reported in 2025 (was €25,530)
of which Trade receivables: -€25,530
- Receivables within one year +€20,530
new in 2025: €20,530
- Cash -€1,521
down €1,521 (-17.0%), from €8,939 to €7,418
mainly Receivables within one year (-€20,530) and Net result for the year (-€6,291)
- Profit (loss) carried forward -€6,291
down €6,291 (-64.1%), from €9,814 to €3,524
- Tax, wage and social debts -€544
down €544 (-73.9%), from €737 to €192
- Gross operating margin -€9,962
down €9,962, from €4,554 to -€5,409
- Other operating charges +€537
up €537 (+199%), from €270 to €807
- Depreciation -€285
no longer reported in 2025 (was €285)
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 | €34,469 | €27,948 | -€6,521 | -18.9% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €34,469 | €27,948 | -€6,521 | -18.9% |
| Amounts receivable after more than one year | 29 | €25,530 | - | -€25,530 | |
| Trade receivables | 290 | €25,530 | - | -€25,530 | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | - | €20,530 | +€20,530 | |
| Trade receivables | 40 | - | €20,530 | +€20,530 | |
| Cash at bank and in hand | 54/58 | €8,939 | €7,418 | -€1,521 | -17.0% |
| Total equity and liabilities | 10/49 | €34,469 | €27,948 | -€6,521 | -18.9% |
| Equity | 10/15 | €28,414 | €22,124 | -€6,291 | -22.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,814 | €3,524 | -€6,291 | -64.1% |
| Amounts payable | 17/49 | €6,055 | €5,825 | -€230 | -3.8% |
| Amounts payable within one year | 42/48 | €6,055 | €5,825 | -€230 | -3.8% |
| Trade debts | 44 | €1,097 | €1,411 | +€314 | +28.6% |
| Suppliers | 440/4 | €1,097 | €324 | -€773 | -70.4% |
| Bills of exchange payable | 441 | - | €1,087 | +€1,087 | |
| Taxes, remuneration and social security | 45 | €737 | €192 | -€544 | -73.9% |
| Taxes | 450/3 | €737 | €192 | -€544 | -73.9% |
| Other amounts payable | 47/48 | €4,221 | €4,221 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285 | - | -€285 | |
| Other operating charges | 640/8 | €270 | €807 | +€537 | +199% |
| Gross operating margin | 9900 | €4,554 | -€5,409 | -€9,962 | |
| Operating profit (loss) | 9901 | €3,998 | -€6,216 | -€10,214 | |
| Financial charges | 65/66B | €71 | €75 | +€4 | +5.6% |
| Recurring financial charges | 65 | €71 | €75 | +€4 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €3,927 | -€6,291 | -€10,218 | |
| Profit (loss) for the period | 9904 | €3,927 | -€6,291 | -€10,218 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,927 | -€6,291 | -€10,218 |
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 18 October 2026 via checked.be.