SPARTAN ADVICE: what changed
SPARTAN ADVICE
Largest movements
- Receivables after one year -€83,600
down €83,600 (-26.1%), from €320,300 to €236,700
- Cash -€58,376
down €58,376 (-75.1%), from €77,709 to €19,333
mainly Contributions, distributions and other (-€88,000) and Net result for the year (-€26,936)
- Current investments -€19,500
down €19,500 (-32.8%), from €59,475 to €39,975
- Receivables within one year +€17,715
up €17,715 (+10.6%), from €166,657 to €184,372
of which Other amounts receivable: +€38,405
- Reserves -€100,000
down €100,000 (-16.8%), from €593,825 to €493,825
of which Distributable reserves: -€100,000
- Tax, wage and social debts -€18,060
down €18,060 (-94.9%), from €19,022 to €962
of which Remuneration and social security: -€9,166
- Profit (loss) carried forward -€14,936
down €14,936 (-96.6%), from €15,467 to €531
- Trade debts -€6,620
down €6,620 (-96.2%), from €6,880 to €260
- Gross operating margin -€112,723
down €112,723, from €90,053 to -€22,670
- Financial income +€34,216
up €34,216 (+226%), from €15,111 to €49,327
- Taxes -€11,952
down €11,952 (-95.6%), from €12,504 to €552
- Staff costs -€11,120
down €11,120 (-17.9%), from €62,052 to €50,932
- Depreciation -€3,235
down €3,235 (-75.5%), from €4,282 to €1,047
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 | €649,727 | €504,278 | -€145,449 | -22.4% |
| Fixed assets | 21/28 | €24,671 | €23,624 | -€1,047 | -4.2% |
| Tangible fixed assets | 22/27 | €24,671 | €23,624 | -€1,047 | -4.2% |
| Furniture and vehicles | 24 | €1,518 | €471 | -€1,047 | -69.0% |
| Other tangible fixed assets | 26 | €23,153 | €23,153 | = | 0.0% |
| Current assets | 29/58 | €625,056 | €480,654 | -€144,402 | -23.1% |
| Amounts receivable after more than one year | 29 | €320,300 | €236,700 | -€83,600 | -26.1% |
| Other amounts receivable | 291 | €320,300 | €236,700 | -€83,600 | -26.1% |
| Amounts receivable within one year | 40/41 | €166,657 | €184,372 | +€17,715 | +10.6% |
| Trade receivables | 40 | €20,690 | - | -€20,690 | |
| Other amounts receivable | 41 | €145,967 | €184,372 | +€38,405 | +26.3% |
| Current investments | 50/53 | €59,475 | €39,975 | -€19,500 | -32.8% |
| Cash at bank and in hand | 54/58 | €77,709 | €19,333 | -€58,376 | -75.1% |
| Deferred charges and accrued income | 490/1 | €915 | €274 | -€641 | -70.1% |
| Total equity and liabilities | 10/49 | €649,727 | €504,278 | -€145,449 | -22.4% |
| Equity | 10/15 | €615,492 | €500,556 | -€114,936 | -18.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €593,825 | €493,825 | -€100,000 | -16.8% |
| Tax-exempt reserves | 132 | €41,465 | €41,465 | = | 0.0% |
| Distributable reserves | 133 | €552,360 | €452,360 | -€100,000 | -18.1% |
| Profit (loss) carried forward | 14 | €15,467 | €531 | -€14,936 | -96.6% |
| Amounts payable | 17/49 | €34,235 | €3,722 | -€30,513 | -89.1% |
| Amounts payable within one year | 42/48 | €34,235 | €3,722 | -€30,513 | -89.1% |
| Financial debts | 43 | €8,333 | €2,500 | -€5,833 | -70.0% |
| Credit institutions | 430/8 | €8,333 | €2,500 | -€5,833 | -70.0% |
| Trade debts | 44 | €6,880 | €260 | -€6,620 | -96.2% |
| Suppliers | 440/4 | €6,880 | €260 | -€6,620 | -96.2% |
| Taxes, remuneration and social security | 45 | €19,022 | €962 | -€18,060 | -94.9% |
| Taxes | 450/3 | €9,856 | €962 | -€8,894 | -90.2% |
| Remuneration and social security | 454/9 | €9,166 | - | -€9,166 | |
| Remuneration, social security and pensions | 62 | €62,052 | €50,932 | -€11,120 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,282 | €1,047 | -€3,235 | -75.5% |
| Other operating charges | 640/8 | €616 | €703 | +€87 | +14.1% |
| Gross operating margin | 9900 | €90,053 | -€22,670 | -€112,723 | |
| Operating profit (loss) | 9901 | €23,103 | -€75,352 | -€98,455 | |
| Financial income | 75/76B | €15,111 | €49,327 | +€34,216 | +226% |
| Recurring financial income | 75 | €15,111 | €49,327 | +€34,216 | +226% |
| Financial charges | 65/66B | €606 | €359 | -€247 | -40.8% |
| Recurring financial charges | 65 | €606 | €359 | -€247 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €37,608 | -€26,384 | -€63,992 | |
| Income taxes | 67/77 | €12,504 | €552 | -€11,952 | -95.6% |
| Profit (loss) for the period | 9904 | €25,104 | -€26,936 | -€52,040 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,104 | -€26,936 | -€52,040 |
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 8 November 2026 via checked.be.