SPCL Consulting: 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.
SPCL Consulting
Largest movements
- Tangible fixed assets +€592,749
up €592,749 (+88.2%), from €672,236 to €1.3m
of which Assets under construction and advance payments: +€512,606
- Current investments -€281,123
down €281,123 (-73.8%), from €381,151 to €100,028
- Cash +€46,257
up €46,257 (+103%), from €44,735 to €90,992
mainly Current investments (+€281,123) and Other debts (+€113,196)
- Receivables within one year -€36,179
down €36,179 (-21.7%), from €166,731 to €130,552
of which Trade receivables: -€30,861
- Other debts +€113,196
up €113,196 (+403%), from €28,070 to €141,266
- Reserves +€83,257
up €83,257 (+14.5%), from €575,549 to €658,806
- Trade debts +€69,770
up €69,770 (+427%), from €16,355 to €86,125
- Debts after one year +€41,079
up €41,079 (+7.7%), from €530,750 to €571,829
of which Financial debts: +€41,079
- Depreciation -€18,718
down €18,718 (-60.5%), from €30,953 to €12,235
- Taxes +€8,999
up €8,999 (+34.8%), from €25,873 to €34,873
- Financial charges -€6,764
down €6,764 (-30.6%), from €22,121 to €15,357
- Gross operating margin +€6,343
up €6,343 (+4.5%), from €142,215 to €148,559
- Other operating charges -€1,586
down €1,586 (-29.3%), from €5,415 to €3,829
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 | €1,265,692 | €1,589,404 | +€323,713 | +25.6% |
| Fixed assets | 21/28 | €672,236 | €1,264,986 | +€592,749 | +88.2% |
| Tangible fixed assets | 22/27 | €672,236 | €1,264,986 | +€592,749 | +88.2% |
| Land and buildings | 22 | €226,803 | €216,669 | -€10,134 | -4.5% |
| Furniture and vehicles | 24 | €32,825 | €123,103 | +€90,277 | +275% |
| Assets under construction and advance payments | 27 | €412,608 | €925,214 | +€512,606 | +124% |
| Current assets | 29/58 | €593,455 | €324,418 | -€269,037 | -45.3% |
| Amounts receivable within one year | 40/41 | €166,731 | €130,552 | -€36,179 | -21.7% |
| Trade receivables | 40 | €148,578 | €117,717 | -€30,861 | -20.8% |
| Other amounts receivable | 41 | €18,153 | €12,835 | -€5,318 | -29.3% |
| Current investments | 50/53 | €381,151 | €100,028 | -€281,123 | -73.8% |
| Cash at bank and in hand | 54/58 | €44,735 | €90,992 | +€46,257 | +103% |
| Deferred charges and accrued income | 490/1 | €838 | €2,846 | +€2,008 | +240% |
| Total equity and liabilities | 10/49 | €1,265,692 | €1,589,404 | +€323,713 | +25.6% |
| Equity | 10/15 | €594,149 | €677,406 | +€83,257 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €575,549 | €658,806 | +€83,257 | +14.5% |
| Distributable reserves | 133 | €575,549 | €658,806 | +€83,257 | +14.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €671,543 | €911,998 | +€240,456 | +35.8% |
| Amounts payable after more than one year | 17 | €530,750 | €571,829 | +€41,079 | +7.7% |
| Financial debts | 170/4 | €528,750 | €569,829 | +€41,079 | +7.8% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €130,028 | €326,115 | +€196,087 | +151% |
| Current portion of amounts payable after more than one year | 42 | €66,489 | €64,804 | -€1,684 | -2.5% |
| Financial debts | 43 | €11,067 | €13,799 | +€2,733 | +24.7% |
| Credit institutions | 430/8 | €11,067 | €13,799 | +€2,733 | +24.7% |
| Trade debts | 44 | €16,355 | €86,125 | +€69,770 | +427% |
| Suppliers | 440/4 | €16,355 | €86,125 | +€69,770 | +427% |
| Taxes, remuneration and social security | 45 | €8,048 | €20,120 | +€12,072 | +150% |
| Taxes | 450/3 | €5,122 | €17,184 | +€12,062 | +235% |
| Remuneration and social security | 454/9 | €2,926 | €2,936 | +€10 | +0.3% |
| Other amounts payable | 47/48 | €28,070 | €141,266 | +€113,196 | +403% |
| Accrued charges and deferred income | 492/3 | €10,765 | €14,054 | +€3,290 | +30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,953 | €12,235 | -€18,718 | -60.5% |
| Other operating charges | 640/8 | €5,415 | €3,829 | -€1,586 | -29.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €142,215 | €148,559 | +€6,343 | +4.5% |
| Operating profit (loss) | 9901 | €105,846 | €132,494 | +€26,647 | +25.2% |
| Financial income | 75/76B | €2,099 | €992 | -€1,107 | -52.7% |
| Recurring financial income | 75 | €2,099 | €992 | -€1,107 | -52.7% |
| Financial charges | 65/66B | €22,121 | €15,357 | -€6,764 | -30.6% |
| Recurring financial charges | 65 | €22,121 | €15,357 | -€6,764 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €85,824 | €118,130 | +€32,305 | +37.6% |
| Income taxes | 67/77 | €25,873 | €34,873 | +€8,999 | +34.8% |
| Profit (loss) for the period | 9904 | €59,951 | €83,257 | +€23,306 | +38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €59,951 | €83,257 | +€23,306 | +38.9% |
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.