SPCm: 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.
SPCm
Largest movements
- Receivables within one year -€244,568
down €244,568 (-15.2%), from €1.6m to €1.4m
- Cash -€112,820
down €112,820 (-37.0%), from €304,864 to €192,044
mainly Trade debts (-€329,100) and Investment in fixed assets (net) (-€181,272)
- Tangible fixed assets -€67,675
down €67,675 (-5.5%), from €1.2m to €1.2m
- Trade debts -€329,100
down €329,100 (-31.6%), from €1.0m to €712,221
- Debts after one year -€125,000
down €125,000 (-38.5%), from €324,583 to €199,583
- Profit (loss) carried forward +€70,745
up €70,745 (+250.0%), from €28,300 to €99,046
- Tax, wage and social debts -€57,850
down €57,850 (-30.9%), from €187,077 to €129,227
of which Taxes: -€67,794
- Gross operating margin +€289,591
up €289,591 (+28.9%), from €1.0m to €1.3m
- Staff costs +€182,573
up €182,573 (+26.3%), from €693,583 to €876,156
- Depreciation +€26,749
up €26,749 (+12.0%), from €222,198 to €248,946
- Write-downs +€25,278
no longer reported in 2025 (was -€25,278)
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 | €4,248,873 | €3,787,418 | -€461,455 | -10.9% |
| Fixed assets | 21/28 | €1,240,146 | €1,172,472 | -€67,675 | -5.5% |
| Tangible fixed assets | 22/27 | €1,240,146 | €1,172,472 | -€67,675 | -5.5% |
| Land and buildings | 22 | €482,069 | €450,359 | -€31,710 | -6.6% |
| Plant, machinery and equipment | 23 | €730,776 | €703,596 | -€27,180 | -3.7% |
| Furniture and vehicles | 24 | €27,302 | €18,518 | -€8,784 | -32.2% |
| Current assets | 29/58 | €3,008,727 | €2,614,946 | -€393,780 | -13.1% |
| Stocks and contracts in progress | 3 | €902,355 | €860,027 | -€42,328 | -4.7% |
| Stocks | 30/36 | €902,355 | €860,027 | -€42,328 | -4.7% |
| Amounts receivable within one year | 40/41 | €1,606,215 | €1,361,647 | -€244,568 | -15.2% |
| Trade receivables | 40 | €1,606,215 | €1,361,647 | -€244,568 | -15.2% |
| Current investments | 50/53 | €195,222 | €201,164 | +€5,942 | +3.0% |
| Cash at bank and in hand | 54/58 | €304,864 | €192,044 | -€112,820 | -37.0% |
| Deferred charges and accrued income | 490/1 | €71 | €65 | -€6 | -8.3% |
| Total equity and liabilities | 10/49 | €4,248,873 | €3,787,418 | -€461,455 | -10.9% |
| Equity | 10/15 | €2,546,892 | €2,617,638 | +€70,745 | +2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,500,000 | €2,500,000 | = | 0.0% |
| Distributable reserves | 133 | €2,500,000 | €2,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,300 | €99,046 | +€70,745 | +250.0% |
| Amounts payable | 17/49 | €1,701,981 | €1,169,781 | -€532,200 | -31.3% |
| Amounts payable after more than one year | 17 | €324,583 | €199,583 | -€125,000 | -38.5% |
| Financial debts | 170/4 | €324,583 | €199,583 | -€125,000 | -38.5% |
| Amounts payable within one year | 42/48 | €1,361,898 | €970,197 | -€391,700 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €1,041,320 | €712,221 | -€329,100 | -31.6% |
| Suppliers | 440/4 | €1,041,320 | €712,221 | -€329,100 | -31.6% |
| Advances received on contracts in progress | 46 | €8,500 | - | -€8,500 | |
| Taxes, remuneration and social security | 45 | €187,077 | €129,227 | -€57,850 | -30.9% |
| Taxes | 450/3 | €104,591 | €36,797 | -€67,794 | -64.8% |
| Remuneration and social security | 454/9 | €82,486 | €92,430 | +€9,943 | +12.1% |
| Other amounts payable | 47/48 | - | €3,750 | +€3,750 | |
| Accrued charges and deferred income | 492/3 | €15,500 | - | -€15,500 | |
| Non-recurring operating income | 76A | - | €42,000 | +€42,000 | |
| Remuneration, social security and pensions | 62 | €693,583 | €876,156 | +€182,573 | +26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,198 | €248,946 | +€26,749 | +12.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€25,278 | - | +€25,278 | |
| Other operating charges | 640/8 | €57,222 | €70,000 | +€12,777 | +22.3% |
| Gross operating margin | 9900 | €1,000,970 | €1,290,561 | +€289,591 | +28.9% |
| Operating profit (loss) | 9901 | €53,245 | €95,459 | +€42,214 | +79.3% |
| Financial income | 75/76B | €1,569 | €6,645 | +€5,076 | +323.6% |
| Recurring financial income | 75 | €1,569 | €6,645 | +€5,076 | +323.6% |
| Financial charges | 65/66B | €2,977 | €3,909 | +€931 | +31.3% |
| Recurring financial charges | 65 | €2,977 | €3,909 | +€931 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €51,836 | €98,195 | +€46,359 | +89.4% |
| Income taxes | 67/77 | €15,976 | €27,450 | +€11,473 | +71.8% |
| Profit (loss) for the period | 9904 | €35,860 | €70,745 | +€34,885 | +97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,860 | €70,745 | +€34,885 | +97.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.