SPEC legal: 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.
SPEC legal
Largest movements
- Cash +€25,369
up €25,369 (+48.6%), from €52,236 to €77,605
mainly Net result for the year (+€36,266) and Depreciation (+€2,862)
- Receivables within one year +€6,047
up €6,047 (+2,223%), from €272 to €6,319
of which Other amounts receivable: +€5,676
- Tangible fixed assets -€1,966
down €1,966 (-23.8%), from €8,268 to €6,302
of which Furniture and vehicles: -€2,516
- Reserves +€36,000
up €36,000 (+91.6%), from €39,293 to €75,293
- Other debts -€6,009
down €6,009 (-80.4%), from €7,470 to €1,461
- Tax, wage and social debts -€2,144
down €2,144 (-19.8%), from €10,824 to €8,679
- Trade debts +€1,337
up €1,337 (+220%), from €609 to €1,946
- Gross operating margin +€8,954
up €8,954 (+22.5%), from €39,810 to €48,763
- Depreciation +€1,153
up €1,153 (+67.5%), from €1,709 to €2,862
- Taxes -€1,107
down €1,107 (-10.3%), from €10,747 to €9,641
- Financial income +€619
new in 2025: €619
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 | €60,917 | €90,368 | +€29,451 | +48.3% |
| Fixed assets | 21/28 | €8,268 | €6,302 | -€1,966 | -23.8% |
| Tangible fixed assets | 22/27 | €8,268 | €6,302 | -€1,966 | -23.8% |
| Furniture and vehicles | 24 | €8,268 | €5,752 | -€2,516 | -30.4% |
| Other tangible fixed assets | 26 | - | €550 | +€550 | |
| Current assets | 29/58 | €52,649 | €84,066 | +€31,417 | +59.7% |
| Amounts receivable within one year | 40/41 | €272 | €6,319 | +€6,047 | +2,223% |
| Trade receivables | 40 | - | €371 | +€371 | |
| Other amounts receivable | 41 | €272 | €5,948 | +€5,676 | +2,087% |
| Cash at bank and in hand | 54/58 | €52,236 | €77,605 | +€25,369 | +48.6% |
| Deferred charges and accrued income | 490/1 | €142 | €142 | = | 0.0% |
| Total equity and liabilities | 10/49 | €60,917 | €90,368 | +€29,451 | +48.3% |
| Equity | 10/15 | €42,016 | €78,282 | +€36,266 | +86.3% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €39,293 | €75,293 | +€36,000 | +91.6% |
| Distributable reserves | 133 | €39,293 | €75,293 | +€36,000 | +91.6% |
| Profit (loss) carried forward | 14 | €123 | €389 | +€266 | +217% |
| Amounts payable | 17/49 | €18,902 | €12,086 | -€6,816 | -36.1% |
| Amounts payable within one year | 42/48 | €18,902 | €12,086 | -€6,816 | -36.1% |
| Trade debts | 44 | €609 | €1,946 | +€1,337 | +220% |
| Suppliers | 440/4 | €609 | €1,946 | +€1,337 | +220% |
| Taxes, remuneration and social security | 45 | €10,824 | €8,679 | -€2,144 | -19.8% |
| Taxes | 450/3 | €10,824 | €8,679 | -€2,144 | -19.8% |
| Other amounts payable | 47/48 | €7,470 | €1,461 | -€6,009 | -80.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,709 | €2,862 | +€1,153 | +67.5% |
| Other operating charges | 640/8 | - | €403 | +€403 | |
| Gross operating margin | 9900 | €39,810 | €48,763 | +€8,954 | +22.5% |
| Operating profit (loss) | 9901 | €38,101 | €45,498 | +€7,397 | +19.4% |
| Financial income | 75/76B | - | €619 | +€619 | |
| Recurring financial income | 75 | - | €619 | +€619 | |
| Financial charges | 65/66B | €61 | €210 | +€149 | +244% |
| Recurring financial charges | 65 | €61 | €210 | +€149 | +244% |
| Profit (loss) for the period before taxes | 9903 | €38,040 | €45,907 | +€7,867 | +20.7% |
| Income taxes | 67/77 | €10,747 | €9,641 | -€1,107 | -10.3% |
| Profit (loss) for the period | 9904 | €27,293 | €36,266 | +€8,974 | +32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,293 | €36,266 | +€8,974 | +32.9% |
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 20 October 2026 via checked.be.