SPARTAN BROADCAST: 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 BROADCAST
Largest movements
- Tangible fixed assets +€172,991
up €172,991 (+423%), from €40,922 to €213,912
of which Land and buildings: +€187,567
- Receivables within one year +€46,762
up €46,762 (+92.8%), from €50,392 to €97,154
of which Trade receivables: +€33,603
- Cash +€31,193
up €31,193 (+148%), from €21,134 to €52,327
mainly Trade debts (+€168,227) and Debts after one year (+€69,643)
- Trade debts +€168,227
up €168,227 (+1,398%), from €12,036 to €180,263
- Debts after one year +€69,643
up €69,643 (+433%), from €16,066 to €85,709
- Provisions +€20,000
new in 2025: €20,000
- Tax, wage and social debts -€13,143
down €13,143 (-92.2%), from €14,260 to €1,117
of which Remuneration and social security: -€14,260
- Reserves +€8,000
new in 2025: €8,000
- Gross operating margin +€51,807
up €51,807 (+163%), from €31,855 to €83,662
- Financial charges +€30,659
up €30,659 (+1,865%), from €1,644 to €32,303
- Depreciation -€1,267
down €1,267 (-6.8%), from €18,699 to €17,432
- Taxes -€891
down €891 (-14.8%), from €6,017 to €5,126
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 | €112,448 | €364,387 | +€251,939 | +224% |
| Fixed assets | 21/28 | €40,922 | €213,912 | +€172,991 | +423% |
| Tangible fixed assets | 22/27 | €40,922 | €213,912 | +€172,991 | +423% |
| Land and buildings | 22 | - | €187,567 | +€187,567 | |
| Plant, machinery and equipment | 23 | - | €18,667 | +€18,667 | |
| Furniture and vehicles | 24 | €40,922 | €5,389 | -€35,533 | -86.8% |
| Leasing and similar rights | 25 | - | €2,290 | +€2,290 | |
| Current assets | 29/58 | €71,526 | €150,475 | +€78,949 | +110% |
| Amounts receivable within one year | 40/41 | €50,392 | €97,154 | +€46,762 | +92.8% |
| Trade receivables | 40 | €30,894 | €64,497 | +€33,603 | +109% |
| Other amounts receivable | 41 | €19,498 | €32,657 | +€13,158 | +67.5% |
| Cash at bank and in hand | 54/58 | €21,134 | €52,327 | +€31,193 | +148% |
| Deferred charges and accrued income | 490/1 | - | €994 | +€994 | |
| Total equity and liabilities | 10/49 | €112,448 | €364,387 | +€251,939 | +224% |
| Equity | 10/15 | €57,092 | €65,430 | +€8,338 | +14.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | - | €8,000 | +€8,000 | |
| Distributable reserves | 133 | - | €8,000 | +€8,000 | |
| Profit (loss) carried forward | 14 | €51,092 | €51,430 | +€338 | +0.7% |
| Provisions and deferred taxes | 16 | - | €20,000 | +€20,000 | |
| Provisions for liabilities and charges | 160/5 | - | €20,000 | +€20,000 | |
| Major repairs and maintenance | 162 | - | €20,000 | +€20,000 | |
| Amounts payable | 17/49 | €55,356 | €278,957 | +€223,601 | +404% |
| Amounts payable after more than one year | 17 | €16,066 | €85,709 | +€69,643 | +433% |
| Financial debts | 170/4 | €16,066 | €85,709 | +€69,643 | +433% |
| Amounts payable within one year | 42/48 | €39,290 | €193,248 | +€153,959 | +392% |
| Financial debts | 43 | €9,435 | €8,310 | -€1,125 | -11.9% |
| Credit institutions | 430/8 | - | €8,310 | +€8,310 | |
| Other loans | 439 | €9,435 | - | -€9,435 | |
| Trade debts | 44 | €12,036 | €180,263 | +€168,227 | +1,398% |
| Suppliers | 440/4 | €12,036 | €180,263 | +€168,227 | +1,398% |
| Taxes, remuneration and social security | 45 | €14,260 | €1,117 | -€13,143 | -92.2% |
| Taxes | 450/3 | - | €1,117 | +€1,117 | |
| Remuneration and social security | 454/9 | €14,260 | - | -€14,260 | |
| Other amounts payable | 47/48 | €3,559 | €3,559 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,699 | €17,432 | -€1,267 | -6.8% |
| Other operating charges | 640/8 | €457 | €463 | +€6 | +1.4% |
| Non-recurring operating charges | 66A | - | €20,000 | +€20,000 | |
| Gross operating margin | 9900 | €31,855 | €83,662 | +€51,807 | +163% |
| Operating profit (loss) | 9901 | €12,700 | €45,767 | +€33,067 | +260% |
| Financial income | 75/76B | €7 | €0 | -€7 | -99.7% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -99.7% |
| Financial charges | 65/66B | €1,644 | €32,303 | +€30,659 | +1,865% |
| Recurring financial charges | 65 | €1,644 | €32,303 | +€30,659 | +1,865% |
| Profit (loss) for the period before taxes | 9903 | €11,062 | €13,464 | +€2,401 | +21.7% |
| Income taxes | 67/77 | €6,017 | €5,126 | -€891 | -14.8% |
| Profit (loss) for the period | 9904 | €5,045 | €8,338 | +€3,293 | +65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,045 | €8,338 | +€3,293 | +65.3% |
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 23 October 2026 via checked.be.