Spear Friend: 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.
Spear Friend
Largest movements
- Cash +€20,455
up €20,455 (+55.4%), from €36,912 to €57,367
mainly Net result for the year (+€49,727) and Tax, wage and social debts (+€3,463)
- Tangible fixed assets +€5,528
up €5,528 (+80.0%), from €6,908 to €12,436
of which Other tangible fixed assets: +€6,726
- Receivables within one year +€2,766
up €2,766 (+20.8%), from €13,329 to €16,095
of which Trade receivables: +€4,044
- Profit (loss) carried forward +€24,478
up €24,478 (+96.9%), from €25,250 to €49,727
- Tax, wage and social debts +€3,463
up €3,463 (+44.0%), from €7,864 to €11,327
- Gross operating margin +€28,387
up €28,387 (+74.2%), from €38,251 to €66,638
- Taxes +€5,838
up €5,838 (+66.9%), from €8,723 to €14,561
- Financial income +€1,985
up €1,985 (+3,970,180%), from €0 to €1,985
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 | €98,039 | €126,356 | +€28,317 | +28.9% |
| Fixed assets | 21/28 | €6,908 | €12,436 | +€5,528 | +80.0% |
| Tangible fixed assets | 22/27 | €6,908 | €12,436 | +€5,528 | +80.0% |
| Plant, machinery and equipment | 23 | €6,908 | €5,710 | -€1,198 | -17.3% |
| Other tangible fixed assets | 26 | - | €6,726 | +€6,726 | |
| Current assets | 29/58 | €91,132 | €113,920 | +€22,789 | +25.0% |
| Amounts receivable within one year | 40/41 | €13,329 | €16,095 | +€2,766 | +20.8% |
| Trade receivables | 40 | €12,052 | €16,095 | +€4,044 | +33.6% |
| Other amounts receivable | 41 | €1,277 | €0 | -€1,277 | -100% |
| Current investments | 50/53 | €39,292 | €39,292 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,912 | €57,367 | +€20,455 | +55.4% |
| Deferred charges and accrued income | 490/1 | €1,598 | €1,165 | -€433 | -27.1% |
| Total equity and liabilities | 10/49 | €98,039 | €126,356 | +€28,317 | +28.9% |
| Equity | 10/15 | €85,980 | €110,457 | +€24,478 | +28.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €55,730 | €55,730 | = | 0.0% |
| Distributable reserves | 133 | €55,730 | €55,730 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,250 | €49,727 | +€24,478 | +96.9% |
| Amounts payable | 17/49 | €12,060 | €15,899 | +€3,839 | +31.8% |
| Amounts payable within one year | 42/48 | €12,060 | €15,899 | +€3,839 | +31.8% |
| Trade debts | 44 | €84 | €247 | +€163 | +194% |
| Suppliers | 440/4 | €84 | €247 | +€163 | +194% |
| Taxes, remuneration and social security | 45 | €7,864 | €11,327 | +€3,463 | +44.0% |
| Taxes | 450/3 | €7,864 | €11,327 | +€3,463 | +44.0% |
| Other amounts payable | 47/48 | €4,111 | €4,325 | +€213 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,198 | €1,305 | +€108 | +9.0% |
| Other operating charges | 640/8 | €1,025 | €1,056 | +€31 | +3.0% |
| Gross operating margin | 9900 | €38,251 | €66,638 | +€28,387 | +74.2% |
| Operating profit (loss) | 9901 | €36,028 | €64,277 | +€28,249 | +78.4% |
| Financial income | 75/76B | €0 | €1,985 | +€1,985 | +3,970,180% |
| Recurring financial income | 75 | €0 | €1,985 | +€1,985 | +3,970,180% |
| Financial charges | 65/66B | €2,156 | €1,974 | -€182 | -8.5% |
| Recurring financial charges | 65 | €2,156 | €1,974 | -€182 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €33,872 | €64,288 | +€30,416 | +89.8% |
| Income taxes | 67/77 | €8,723 | €14,561 | +€5,838 | +66.9% |
| Profit (loss) for the period | 9904 | €25,149 | €49,727 | +€24,578 | +97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,149 | €49,727 | +€24,578 | +97.7% |
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 20 October 2026 via checked.be.