SPC: what changed
SPC
Largest movements
- Cash -€348,406
down €348,406 (-87.6%), from €397,921 to €49,515
mainly Contributions, distributions and other (-€367,600) and Investment in fixed assets (net) (-€34,944)
- Receivables within one year +€8,014
up €8,014 (+26.7%), from €30,065 to €38,079
of which Trade receivables: +€6,464
- Reserves -€287,116
down €287,116 (-69.3%), from €414,072 to €126,956
of which Distributable reserves: -€287,116
- Tax, wage and social debts -€34,258
down €34,258 (-69.2%), from €49,521 to €15,263
- Current portion of long-term debt -€23,702
down €23,702 (-100%), from €23,702 to €0
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Other debts -€7,350
down €7,350 (-97.1%), from €7,570 to €219
- Gross operating margin -€12,313
down €12,313 (-7.5%), from €164,273 to €151,960
- Depreciation +€7,962
up €7,962 (+35.6%), from €22,380 to €30,341
- Taxes -€5,020
down €5,020 (-15.0%), from €33,467 to €28,447
- Financial income +€1,836
up €1,836 (+82.3%), from €2,229 to €4,065
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 | €505,531 | €166,736 | -€338,795 | -67.0% |
| Fixed assets | 21/28 | €61,680 | €66,282 | +€4,603 | +7.5% |
| Tangible fixed assets | 22/27 | €61,680 | €66,282 | +€4,603 | +7.5% |
| Furniture and vehicles | 24 | €61,680 | €66,282 | +€4,603 | +7.5% |
| Current assets | 29/58 | €443,851 | €100,453 | -€343,398 | -77.4% |
| Amounts receivable after more than one year | 29 | €13,643 | €10,008 | -€3,635 | -26.6% |
| Other amounts receivable | 291 | €13,643 | €10,008 | -€3,635 | -26.6% |
| Amounts receivable within one year | 40/41 | €30,065 | €38,079 | +€8,014 | +26.7% |
| Trade receivables | 40 | €30,060 | €36,524 | +€6,464 | +21.5% |
| Other amounts receivable | 41 | €5 | €1,555 | +€1,550 | +34,455% |
| Cash at bank and in hand | 54/58 | €397,921 | €49,515 | -€348,406 | -87.6% |
| Deferred charges and accrued income | 490/1 | €2,223 | €2,852 | +€629 | +28.3% |
| Total equity and liabilities | 10/49 | €505,531 | €166,736 | -€338,795 | -67.0% |
| Equity | 10/15 | €420,272 | €145,556 | -€274,716 | -65.4% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €414,072 | €126,956 | -€287,116 | -69.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €253 | €253 | = | 0.0% |
| Distributable reserves | 133 | €413,818 | €126,703 | -€287,116 | -69.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €85,259 | €21,179 | -€64,079 | -75.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €82,626 | €16,796 | -€65,830 | -79.7% |
| Current portion of amounts payable after more than one year | 42 | €23,702 | €0 | -€23,702 | -100% |
| Trade debts | 44 | €1,833 | €1,313 | -€520 | -28.4% |
| Suppliers | 440/4 | €1,833 | €1,313 | -€520 | -28.4% |
| Taxes, remuneration and social security | 45 | €49,521 | €15,263 | -€34,258 | -69.2% |
| Taxes | 450/3 | €49,521 | €15,263 | -€34,258 | -69.2% |
| Other amounts payable | 47/48 | €7,570 | €219 | -€7,350 | -97.1% |
| Accrued charges and deferred income | 492/3 | €2,632 | €4,383 | +€1,751 | +66.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,380 | €30,341 | +€7,962 | +35.6% |
| Other operating charges | 640/8 | €2,194 | €2,244 | +€50 | +2.3% |
| Gross operating margin | 9900 | €164,273 | €151,960 | -€12,313 | -7.5% |
| Operating profit (loss) | 9901 | €139,699 | €119,374 | -€20,325 | -14.5% |
| Financial income | 75/76B | €2,229 | €4,065 | +€1,836 | +82.3% |
| Recurring financial income | 75 | €2,229 | €4,065 | +€1,836 | +82.3% |
| Financial charges | 65/66B | €1,562 | €2,107 | +€545 | +34.9% |
| Recurring financial charges | 65 | €1,562 | €2,107 | +€545 | +34.9% |
| Profit (loss) for the period before taxes | 9903 | €140,367 | €121,332 | -€19,035 | -13.6% |
| Income taxes | 67/77 | €33,467 | €28,447 | -€5,020 | -15.0% |
| Profit (loss) for the period | 9904 | €106,899 | €92,884 | -€14,015 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €106,899 | €92,884 | -€14,015 | -13.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.