SPC Project: what changed
Two fiscal 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.
SPC Project
Largest movements
- Cash +€107,888
up €107,888 (+3852.6%), from €2,800 to €110,689
mainly Net result for the year (+€90,617) and Receivables within one year (+€88,804)
- Receivables within one year -€88,804
down €88,804 (-62.3%), from €142,505 to €53,701
of which Trade receivables: -€93,792
- Stocks and contracts +€25,500
new in 2025: €25,500
- Tangible fixed assets +€22,200
up €22,200 (+348.4%), from €6,373 to €28,572
of which Furniture and vehicles: +€15,242
- Financial fixed assets +€2,930
up €2,930 (+2583.8%), from €113 to €3,043
- Profit (loss) carried forward +€90,617
up €90,617 (+213.4%), from €42,466 to €133,083
- Advances received -€50,170
no longer reported in 2025 (was €50,170)
- Trade debts +€17,473
up €17,473 (+583.2%), from €2,996 to €20,469
- Tax, wage and social debts +€9,699
up €9,699 (+27.2%), from €35,656 to €45,355
of which Taxes: +€7,699
- Other debts -€9,606
down €9,606 (-69.2%), from €13,876 to €4,270
- Gross operating margin +€126,671
up €126,671 (+230.7%), from €54,901 to €181,573
- Other operating charges +€61,202
up €61,202 (+8810.8%), from €695 to €61,897
- Taxes +€13,798
up €13,798 (+122.6%), from €11,252 to €25,051
- Depreciation +€2,759
up €2,759 (+419.2%), from €658 to €3,417
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.
Cash bridge derived
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 | €152,664 | €223,936 | +€71,272 | +46.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €6,486 | €31,616 | +€25,130 | +387.4% |
| Tangible fixed assets | 22/27 | €6,373 | €28,572 | +€22,200 | +348.4% |
| Land and buildings | 22 | €2,102 | €6,319 | +€4,217 | +200.6% |
| Plant, machinery and equipment | 23 | €2,085 | €4,825 | +€2,741 | +131.5% |
| Furniture and vehicles | 24 | €2,186 | €17,428 | +€15,242 | +697.3% |
| Financial fixed assets | 28 | €113 | €3,043 | +€2,930 | +2583.8% |
| Current assets | 29/58 | €146,178 | €192,321 | +€46,143 | +31.6% |
| Stocks and contracts in progress | 3 | - | €25,500 | +€25,500 | |
| Stocks | 30/36 | - | €25,500 | +€25,500 | |
| Amounts receivable within one year | 40/41 | €142,505 | €53,701 | -€88,804 | -62.3% |
| Trade receivables | 40 | €142,493 | €48,701 | -€93,792 | -65.8% |
| Other amounts receivable | 41 | €12 | €5,000 | +€4,988 | +41532.0% |
| Cash at bank and in hand | 54/58 | €2,800 | €110,689 | +€107,888 | +3852.6% |
| Deferred charges and accrued income | 490/1 | €873 | €2,432 | +€1,559 | +178.6% |
| Total equity and liabilities | 10/49 | €152,664 | €223,936 | +€71,272 | +46.7% |
| Equity | 10/15 | €49,966 | €140,583 | +€90,617 | +181.4% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,466 | €133,083 | +€90,617 | +213.4% |
| Amounts payable | 17/49 | €102,699 | €83,353 | -€19,345 | -18.8% |
| Amounts payable after more than one year | 17 | - | €8,724 | +€8,724 | |
| Financial debts | 170/4 | - | €8,724 | +€8,724 | |
| Amounts payable within one year | 42/48 | €102,699 | €74,630 | -€28,069 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,535 | +€4,535 | |
| Trade debts | 44 | €2,996 | €20,469 | +€17,473 | +583.2% |
| Suppliers | 440/4 | €2,996 | €20,469 | +€17,473 | +583.2% |
| Advances received on contracts in progress | 46 | €50,170 | - | -€50,170 | |
| Taxes, remuneration and social security | 45 | €35,656 | €45,355 | +€9,699 | +27.2% |
| Taxes | 450/3 | €33,656 | €41,355 | +€7,699 | +22.9% |
| Remuneration and social security | 454/9 | €2,000 | €4,000 | +€2,000 | +100.0% |
| Other amounts payable | 47/48 | €13,876 | €4,270 | -€9,606 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €658 | €3,417 | +€2,759 | +419.2% |
| Other operating charges | 640/8 | €695 | €61,897 | +€61,202 | +8810.8% |
| Gross operating margin | 9900 | €54,901 | €181,573 | +€126,671 | +230.7% |
| Operating profit (loss) | 9901 | €53,549 | €116,259 | +€62,711 | +117.1% |
| Financial income | 75/76B | €0 | €5 | +€4 | +1055.0% |
| Recurring financial income | 75 | €0 | €5 | +€4 | +1055.0% |
| Financial charges | 65/66B | €203 | €596 | +€393 | +193.4% |
| Recurring financial charges | 65 | €203 | €596 | +€393 | +193.4% |
| Profit (loss) for the period before taxes | 9903 | €53,346 | €115,668 | +€62,322 | +116.8% |
| Income taxes | 67/77 | €11,252 | €25,051 | +€13,798 | +122.6% |
| Profit (loss) for the period | 9904 | €42,094 | €90,617 | +€48,524 | +115.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,094 | €90,617 | +€48,524 | +115.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.