SPARTANO: 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.
SPARTANO
Largest movements
- Tangible fixed assets +€15,432
up €15,432 (+105%), from €14,678 to €30,109
of which Furniture and vehicles: +€15,999
- Receivables within one year +€6,806
up €6,806 (+27.0%), from €25,167 to €31,972
of which Other amounts receivable: +€5,422
- Cash +€4,231
up €4,231 (+1.8%), from €239,712 to €243,943
mainly Net result for the year (+€47,015) and Debts after one year (+€8,723)
- Stocks and contracts +€3,392
up €3,392 (+70.3%), from €4,821 to €8,213
- Reserves +€12,728
up €12,728 (+4.7%), from €271,348 to €284,076
of which Distributable reserves: +€12,728
- Debts after one year +€8,723
new in 2025: €8,723
- Current portion of long-term debt +€5,916
new in 2025: €5,916
- Trade debts +€5,606
up €5,606 (+704%), from €796 to €6,403
- Other debts -€3,404
down €3,404 (-55.6%), from €6,120 to €2,717
- Gross operating margin +€12,705
up €12,705 (+17.9%), from €71,058 to €83,763
- Taxes +€5,112
up €5,112 (+25.0%), from €20,487 to €25,598
- Financial income -€1,549
down €1,549 (-75.6%), from €2,050 to €501
- Financial charges +€942
up €942 (+64.0%), from €1,473 to €2,416
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 | €286,681 | €315,973 | +€29,292 | +10.2% |
| Fixed assets | 21/28 | €14,678 | €30,109 | +€15,432 | +105% |
| Tangible fixed assets | 22/27 | €14,678 | €30,109 | +€15,432 | +105% |
| Plant, machinery and equipment | 23 | €457 | €0 | -€457 | -100% |
| Furniture and vehicles | 24 | €14,110 | €30,109 | +€15,999 | +113% |
| Other tangible fixed assets | 26 | €110 | €0 | -€110 | -100% |
| Current assets | 29/58 | €272,004 | €285,864 | +€13,861 | +5.1% |
| Stocks and contracts in progress | 3 | €4,821 | €8,213 | +€3,392 | +70.3% |
| Stocks | 30/36 | €4,821 | €8,213 | +€3,392 | +70.3% |
| Amounts receivable within one year | 40/41 | €25,167 | €31,972 | +€6,806 | +27.0% |
| Trade receivables | 40 | €70 | €1,454 | +€1,383 | +1,964% |
| Other amounts receivable | 41 | €25,096 | €30,519 | +€5,422 | +21.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €239,712 | €243,943 | +€4,231 | +1.8% |
| Deferred charges and accrued income | 490/1 | €2,304 | €1,736 | -€568 | -24.6% |
| Total equity and liabilities | 10/49 | €286,681 | €315,973 | +€29,292 | +10.2% |
| Equity | 10/15 | €277,548 | €290,276 | +€12,728 | +4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €271,348 | €284,076 | +€12,728 | +4.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €271,348 | €284,076 | +€12,728 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,133 | €25,697 | +€16,564 | +181% |
| Amounts payable after more than one year | 17 | - | €8,723 | +€8,723 | |
| Financial debts | 170/4 | - | €8,723 | +€8,723 | |
| Amounts payable within one year | 42/48 | €9,088 | €16,868 | +€7,780 | +85.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,916 | +€5,916 | |
| Trade debts | 44 | €796 | €6,403 | +€5,606 | +704% |
| Suppliers | 440/4 | €796 | €6,403 | +€5,606 | +704% |
| Taxes, remuneration and social security | 45 | €2,171 | €1,833 | -€338 | -15.6% |
| Taxes | 450/3 | €2,171 | €1,833 | -€338 | -15.6% |
| Other amounts payable | 47/48 | €6,120 | €2,717 | -€3,404 | -55.6% |
| Accrued charges and deferred income | 492/3 | €45 | €106 | +€61 | +134% |
| Non-recurring operating income | 76A | - | €5,307 | +€5,307 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,590 | €7,588 | -€1 | 0.0% |
| Other operating charges | 640/8 | €1,143 | €1,647 | +€504 | +44.1% |
| Gross operating margin | 9900 | €71,058 | €83,763 | +€12,705 | +17.9% |
| Operating profit (loss) | 9901 | €62,326 | €74,528 | +€12,202 | +19.6% |
| Financial income | 75/76B | €2,050 | €501 | -€1,549 | -75.6% |
| Recurring financial income | 75 | €2,050 | €501 | -€1,549 | -75.6% |
| Financial charges | 65/66B | €1,473 | €2,416 | +€942 | +64.0% |
| Recurring financial charges | 65 | €1,473 | €2,416 | +€942 | +64.0% |
| Profit (loss) for the period before taxes | 9903 | €62,903 | €72,613 | +€9,710 | +15.4% |
| Income taxes | 67/77 | €20,487 | €25,598 | +€5,112 | +25.0% |
| Profit (loss) for the period | 9904 | €42,416 | €47,015 | +€4,598 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,416 | €47,015 | +€4,598 | +10.8% |
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 20 October 2026 via checked.be.