SPCO: 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.
SPCO
Largest movements
- Receivables within one year -€45,930
down €45,930 (-72.5%), from €63,318 to €17,388
- Cash -€1,357
down €1,357 (-98.6%), from €1,377 to €20
mainly Other debts (-€23,000) and Net result for the year (-€12,800)
- Other debts -€23,000
no longer reported in 2025 (was €23,000)
- Tax, wage and social debts -€11,487
down €11,487 (-92.4%), from €12,426 to €940
- Reserves -€9,609
down €9,609 (-43.9%), from €21,876 to €12,268
- Profit (loss) carried forward -€3,192
no longer reported in 2025 (was €3,192)
- Gross operating margin -€16,131
down €16,131, from €12,128 to -€4,003
- Taxes -€3,544
down €3,544, from €2,242 to -€1,302
- Other operating charges +€1,598
up €1,598 (+17.2%), from €9,299 to €10,897
- Financial income -€1,101
down €1,101 (-55.6%), from €1,978 to €878
- Financial charges -€418
down €418 (-83.8%), from €498 to €81
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 | €64,694 | €17,407 | -€47,287 | -73.1% |
| Current assets | 29/58 | €64,694 | €17,407 | -€47,287 | -73.1% |
| Amounts receivable within one year | 40/41 | €63,318 | €17,388 | -€45,930 | -72.5% |
| Other amounts receivable | 41 | €63,318 | €17,388 | -€45,930 | -72.5% |
| Cash at bank and in hand | 54/58 | €1,377 | €20 | -€1,357 | -98.6% |
| Total equity and liabilities | 10/49 | €64,694 | €17,407 | -€47,287 | -73.1% |
| Equity | 10/15 | €29,268 | €16,468 | -€12,800 | -43.7% |
| Contributions | 10/11 | €4,200 | €4,200 | = | 0.0% |
| Reserves | 13 | €21,876 | €12,268 | -€9,609 | -43.9% |
| Distributable reserves | 133 | €21,876 | €12,268 | -€9,609 | -43.9% |
| Profit (loss) carried forward | 14 | €3,192 | - | -€3,192 | |
| Amounts payable | 17/49 | €35,426 | €940 | -€34,487 | -97.3% |
| Amounts payable within one year | 42/48 | €35,426 | €940 | -€34,487 | -97.3% |
| Taxes, remuneration and social security | 45 | €12,426 | €940 | -€11,487 | -92.4% |
| Taxes | 450/3 | €12,426 | €940 | -€11,487 | -92.4% |
| Other amounts payable | 47/48 | €23,000 | - | -€23,000 | |
| Other operating charges | 640/8 | €9,299 | €10,897 | +€1,598 | +17.2% |
| Gross operating margin | 9900 | €12,128 | -€4,003 | -€16,131 | |
| Operating profit (loss) | 9901 | €2,830 | -€14,900 | -€17,730 | |
| Financial income | 75/76B | €1,978 | €878 | -€1,101 | -55.6% |
| Recurring financial income | 75 | €1,978 | €878 | -€1,101 | -55.6% |
| Financial charges | 65/66B | €498 | €81 | -€418 | -83.8% |
| Recurring financial charges | 65 | €498 | €81 | -€418 | -83.8% |
| Profit (loss) for the period before taxes | 9903 | €4,310 | -€14,103 | -€18,413 | |
| Income taxes | 67/77 | €2,242 | -€1,302 | -€3,544 | |
| Profit (loss) for the period | 9904 | €2,068 | -€12,800 | -€14,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,068 | -€12,800 | -€14,868 |
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 30 September 2026 via checked.be.