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
- Cash -€10,215
down €10,215 (-66.7%), from €15,320 to €5,105
mainly Net result for the year (-€16,779) and Other debts (-€2,800)
- Tangible fixed assets -€8,244
down €8,244 (-37.2%), from €22,151 to €13,907
- Receivables within one year -€1,209
down €1,209 (-8.2%), from €14,657 to €13,448
of which Trade receivables: -€2,812
- Deferred charges and accrued income +€1,174
up €1,174 (+52.1%), from €2,254 to €3,428
- Profit (loss) carried forward -€13,348
new in 2025: -€13,348
- Reserves -€3,431
down €3,431 (-10.1%), from €33,887 to €30,456
- Other debts -€2,800
down €2,800 (-62.3%), from €4,495 to €1,695
- Trade debts +€1,170
up €1,170 (+7.8%), from €14,950 to €16,120
- Gross operating margin -€23,750
down €23,750, from €15,926 to -€7,824
- Taxes -€2,307
down €2,307 (-100%), from €2,307 to €0
- Depreciation +€1,168
up €1,168 (+16.5%), from €7,076 to €8,244
- Other operating charges -€564
down €564 (-48.6%), from €1,161 to €597
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 | €65,732 | €47,323 | -€18,409 | -28.0% |
| Fixed assets | 21/28 | €22,151 | €13,907 | -€8,244 | -37.2% |
| Tangible fixed assets | 22/27 | €22,151 | €13,907 | -€8,244 | -37.2% |
| Plant, machinery and equipment | 23 | €22,151 | €13,907 | -€8,244 | -37.2% |
| Current assets | 29/58 | €43,581 | €33,416 | -€10,165 | -23.3% |
| Stocks and contracts in progress | 3 | €11,350 | €11,435 | +€85 | +0.7% |
| Stocks | 30/36 | €11,350 | €11,435 | +€85 | +0.7% |
| Amounts receivable within one year | 40/41 | €14,657 | €13,448 | -€1,209 | -8.2% |
| Trade receivables | 40 | €9,338 | €6,526 | -€2,812 | -30.1% |
| Other amounts receivable | 41 | €5,318 | €6,921 | +€1,603 | +30.1% |
| Cash at bank and in hand | 54/58 | €15,320 | €5,105 | -€10,215 | -66.7% |
| Deferred charges and accrued income | 490/1 | €2,254 | €3,428 | +€1,174 | +52.1% |
| Total equity and liabilities | 10/49 | €65,732 | €47,323 | -€18,409 | -28.0% |
| Equity | 10/15 | €46,287 | €29,508 | -€16,779 | -36.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €33,887 | €30,456 | -€3,431 | -10.1% |
| Distributable reserves | 133 | €33,887 | €30,456 | -€3,431 | -10.1% |
| Profit (loss) carried forward | 14 | - | -€13,348 | -€13,348 | |
| Amounts payable | 17/49 | €19,445 | €17,815 | -€1,630 | -8.4% |
| Amounts payable within one year | 42/48 | €19,445 | €17,815 | -€1,630 | -8.4% |
| Trade debts | 44 | €14,950 | €16,120 | +€1,170 | +7.8% |
| Suppliers | 440/4 | €14,950 | €16,120 | +€1,170 | +7.8% |
| Other amounts payable | 47/48 | €4,495 | €1,695 | -€2,800 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,076 | €8,244 | +€1,168 | +16.5% |
| Other operating charges | 640/8 | €1,161 | €597 | -€564 | -48.6% |
| Gross operating margin | 9900 | €15,926 | -€7,824 | -€23,750 | |
| Operating profit (loss) | 9901 | €7,688 | -€16,666 | -€24,354 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €87 | €114 | +€26 | +30.4% |
| Recurring financial charges | 65 | €87 | €114 | +€26 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €7,601 | -€16,779 | -€24,380 | |
| Income taxes | 67/77 | €2,307 | €0 | -€2,307 | -100% |
| Profit (loss) for the period | 9904 | €5,294 | -€16,779 | -€22,073 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,294 | -€16,779 | -€22,073 |
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 13 October 2026 via checked.be.