SPB INVEST: 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.
SPB INVEST
Largest movements
- Cash +€28,339
up €28,339 (+171%), from €16,595 to €44,934
mainly Net result for the year (+€59,294) and Depreciation (+€16,449)
- Tangible fixed assets -€4,711
down €4,711 (-1.8%), from €259,343 to €254,632
of which Land and buildings: -€16,385
- Profit (loss) carried forward +€59,294
up €59,294 (+399%), from €14,866 to €74,160
- Other debts -€33,094
down €33,094 (-88.9%), from €37,242 to €4,148
- Debts after one year -€8,914
down €8,914 (-4.0%), from €223,782 to €214,868
of which Financial debts: -€8,914
- Trade debts +€5,297
up €5,297 (+899%), from €589 to €5,886
- Financial income +€30,018
up €30,018 (+100%), from €30,009 to €60,027
- Other operating charges +€2,637
new in 2025: €2,637
- Gross operating margin +€2,278
up €2,278 (+9.0%), from €25,331 to €27,609
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 | €318,460 | €342,778 | +€24,319 | +7.6% |
| Fixed assets | 21/28 | €269,343 | €264,632 | -€4,711 | -1.7% |
| Tangible fixed assets | 22/27 | €259,343 | €254,632 | -€4,711 | -1.8% |
| Land and buildings | 22 | €259,343 | €242,958 | -€16,385 | -6.3% |
| Plant, machinery and equipment | 23 | - | €11,674 | +€11,674 | |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €49,117 | €78,146 | +€29,029 | +59.1% |
| Amounts receivable within one year | 40/41 | €32,522 | €33,212 | +€690 | +2.1% |
| Trade receivables | 40 | €499 | €949 | +€450 | +90.2% |
| Other amounts receivable | 41 | €32,023 | €32,263 | +€240 | +0.8% |
| Cash at bank and in hand | 54/58 | €16,595 | €44,934 | +€28,339 | +171% |
| Total equity and liabilities | 10/49 | €318,460 | €342,778 | +€24,319 | +7.6% |
| Equity | 10/15 | €39,866 | €99,160 | +€59,294 | +149% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,866 | €74,160 | +€59,294 | +399% |
| Amounts payable | 17/49 | €278,594 | €243,619 | -€34,975 | -12.6% |
| Amounts payable after more than one year | 17 | €223,782 | €214,868 | -€8,914 | -4.0% |
| Financial debts | 170/4 | €221,982 | €213,068 | -€8,914 | -4.0% |
| Other amounts payable | 178/9 | €1,800 | €1,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,812 | €28,750 | -€26,061 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €13,587 | €15,778 | +€2,191 | +16.1% |
| Trade debts | 44 | €589 | €5,886 | +€5,297 | +899% |
| Suppliers | 440/4 | €589 | €5,886 | +€5,297 | +899% |
| Taxes, remuneration and social security | 45 | €3,393 | €2,938 | -€455 | -13.4% |
| Taxes | 450/3 | €1,548 | €2,593 | +€1,045 | +67.5% |
| Remuneration and social security | 454/9 | €1,845 | €345 | -€1,500 | -81.3% |
| Other amounts payable | 47/48 | €37,242 | €4,148 | -€33,094 | -88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,419 | €16,449 | +€30 | +0.2% |
| Other operating charges | 640/8 | - | €2,637 | +€2,637 | |
| Gross operating margin | 9900 | €25,331 | €27,609 | +€2,278 | +9.0% |
| Operating profit (loss) | 9901 | €8,912 | €8,523 | -€389 | -4.4% |
| Financial income | 75/76B | €30,009 | €60,027 | +€30,018 | +100% |
| Recurring financial income | 75 | €30,009 | €60,027 | +€30,018 | +100% |
| Financial charges | 65/66B | €9,485 | €9,248 | -€237 | -2.5% |
| Recurring financial charges | 65 | €9,485 | €9,248 | -€237 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €29,436 | €59,301 | +€29,865 | +101% |
| Income taxes | 67/77 | €124 | €8 | -€116 | -93.7% |
| Profit (loss) for the period | 9904 | €29,312 | €59,294 | +€29,981 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €29,312 | €59,294 | +€29,981 | +102% |
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 27 October 2026 via checked.be.