SPARVERIUS: 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.
SPARVERIUS
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Receivables within one year -€44,656
down €44,656 (-57.4%), from €77,744 to €33,088
of which Trade receivables: -€43,694
- Cash +€25,473
up €25,473 (+266%), from €9,564 to €35,037
mainly Current investments (+€100,000) and Receivables within one year (+€44,656)
- Tangible fixed assets -€14,840
down €14,840 (-3.7%), from €404,657 to €389,817
of which Land and buildings: -€15,361
- Debts after one year -€108,112
down €108,112 (-37.5%), from €288,446 to €180,333
of which Other amounts payable: -€81,291
- Other debts -€36,065
down €36,065 (-53.4%), from €67,576 to €31,511
- Gross operating margin -€26,703
down €26,703 (-39.4%), from €67,751 to €41,048
- Taxes -€6,958
down €6,958 (-65.3%), from €10,659 to €3,701
- Financial charges -€5,050
down €5,050 (-42.4%), from €11,902 to €6,852
- Other operating charges +€2,225
up €2,225 (+135%), from €1,652 to €3,877
- Depreciation +€1,822
up €1,822 (+10.1%), from €18,109 to €19,932
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 | €603,065 | €465,007 | -€138,058 | -22.9% |
| Fixed assets | 21/28 | €405,437 | €390,597 | -€14,840 | -3.7% |
| Tangible fixed assets | 22/27 | €404,657 | €389,817 | -€14,840 | -3.7% |
| Land and buildings | 22 | €384,569 | €369,208 | -€15,361 | -4.0% |
| Furniture and vehicles | 24 | €7,018 | €4,209 | -€2,809 | -40.0% |
| Other tangible fixed assets | 26 | €13,069 | €16,400 | +€3,331 | +25.5% |
| Financial fixed assets | 28 | €780 | €780 | = | 0.0% |
| Current assets | 29/58 | €197,628 | €74,410 | -€123,219 | -62.3% |
| Stocks and contracts in progress | 3 | €7,820 | €5,380 | -€2,440 | -31.2% |
| Stocks | 30/36 | €7,820 | €5,380 | -€2,440 | -31.2% |
| Amounts receivable within one year | 40/41 | €77,744 | €33,088 | -€44,656 | -57.4% |
| Trade receivables | 40 | €67,894 | €24,200 | -€43,694 | -64.4% |
| Other amounts receivable | 41 | €9,850 | €8,888 | -€961 | -9.8% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €9,564 | €35,037 | +€25,473 | +266% |
| Deferred charges and accrued income | 490/1 | €2,501 | €904 | -€1,597 | -63.9% |
| Total equity and liabilities | 10/49 | €603,065 | €465,007 | -€138,058 | -22.9% |
| Equity | 10/15 | €217,657 | €223,541 | +€5,884 | +2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €211,457 | €217,341 | +€5,884 | +2.8% |
| Distributable reserves | 133 | €211,457 | €217,341 | +€5,884 | +2.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €385,409 | €241,466 | -€143,943 | -37.3% |
| Amounts payable after more than one year | 17 | €288,446 | €180,333 | -€108,112 | -37.5% |
| Financial debts | 170/4 | €207,155 | €180,333 | -€26,821 | -12.9% |
| Other amounts payable | 178/9 | €81,291 | €0 | -€81,291 | -100% |
| Amounts payable within one year | 42/48 | €96,963 | €61,132 | -€35,830 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €26,014 | €26,821 | +€807 | +3.1% |
| Trade debts | 44 | €2,098 | €856 | -€1,241 | -59.2% |
| Suppliers | 440/4 | €2,098 | €856 | -€1,241 | -59.2% |
| Taxes, remuneration and social security | 45 | €1,275 | €1,944 | +€669 | +52.5% |
| Taxes | 450/3 | €1,275 | €1,944 | +€669 | +52.5% |
| Other amounts payable | 47/48 | €67,576 | €31,511 | -€36,065 | -53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,109 | €19,932 | +€1,822 | +10.1% |
| Other operating charges | 640/8 | €1,652 | €3,877 | +€2,225 | +135% |
| Gross operating margin | 9900 | €67,751 | €41,048 | -€26,703 | -39.4% |
| Operating profit (loss) | 9901 | €47,989 | €17,239 | -€30,750 | -64.1% |
| Financial income | 75/76B | €24 | €31 | +€6 | +26.6% |
| Recurring financial income | 75 | €24 | €31 | +€6 | +26.6% |
| Financial charges | 65/66B | €11,902 | €6,852 | -€5,050 | -42.4% |
| Recurring financial charges | 65 | €11,902 | €6,852 | -€5,050 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €36,112 | €10,418 | -€25,694 | -71.2% |
| Income taxes | 67/77 | €10,659 | €3,701 | -€6,958 | -65.3% |
| Profit (loss) for the period | 9904 | €25,453 | €6,717 | -€18,736 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,453 | €6,717 | -€18,736 | -73.6% |
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.