SPEC-MAR: 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.
SPEC-MAR
Largest movements
- Receivables within one year -€23,790
down €23,790 (-30.9%), from €76,879 to €53,088
of which Trade receivables: -€23,319
- Cash +€17,328
up €17,328 (+545.7%), from €3,175 to €20,504
mainly Receivables within one year (+€23,790) and Debts after one year (+€17,349)
- Receivables after one year +€10,604
up €10,604 (+8.4%), from €125,703 to €136,308
- Tangible fixed assets -€5,127
down €5,127 (-43.6%), from €11,761 to €6,634
of which Furniture and vehicles: -€4,777
- Debts after one year +€17,349
up €17,349 (+94.9%), from €18,289 to €35,639
- Trade debts -€16,488
down €16,488 (-64.5%), from €25,545 to €9,057
- Reserves -€16,462
down €16,462 (-27.3%), from €60,246 to €43,784
of which Distributable reserves: -€16,462
- Other debts +€12,639
up €12,639 (+45.5%), from €27,784 to €40,423
- Current portion of long-term debt +€7,053
up €7,053 (+74.1%), from €9,521 to €16,574
- Gross operating margin -€53,746
down €53,746 (-84.5%), from €63,585 to €9,839
- Taxes -€10,187
down €10,187, from €9,843 to -€344
- Financial charges +€4,154
up €4,154 (+238.3%), from €1,743 to €5,896
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €218,667 | €217,385 | -€1,282 | -0.6% |
| Fixed assets | 21/28 | €11,761 | €6,634 | -€5,127 | -43.6% |
| Tangible fixed assets | 22/27 | €11,761 | €6,634 | -€5,127 | -43.6% |
| Plant, machinery and equipment | 23 | €1,192 | €841 | -€351 | -29.4% |
| Furniture and vehicles | 24 | €10,569 | €5,793 | -€4,777 | -45.2% |
| Current assets | 29/58 | €206,906 | €210,751 | +€3,846 | +1.9% |
| Amounts receivable after more than one year | 29 | €125,703 | €136,308 | +€10,604 | +8.4% |
| Other amounts receivable | 291 | €125,703 | €136,308 | +€10,604 | +8.4% |
| Amounts receivable within one year | 40/41 | €76,879 | €53,088 | -€23,790 | -30.9% |
| Trade receivables | 40 | €75,104 | €51,786 | -€23,319 | -31.0% |
| Other amounts receivable | 41 | €1,774 | €1,303 | -€472 | -26.6% |
| Cash at bank and in hand | 54/58 | €3,175 | €20,504 | +€17,328 | +545.7% |
| Deferred charges and accrued income | 490/1 | €1,148 | €851 | -€297 | -25.8% |
| Total equity and liabilities | 10/49 | €218,667 | €217,385 | -€1,282 | -0.6% |
| Equity | 10/15 | €118,836 | €98,804 | -€20,032 | -16.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,246 | €43,784 | -€16,462 | -27.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €58,386 | €41,924 | -€16,462 | -28.2% |
| Profit (loss) carried forward | 14 | €52,390 | €48,820 | -€3,570 | -6.8% |
| Amounts payable | 17/49 | €99,831 | €118,581 | +€18,750 | +18.8% |
| Amounts payable after more than one year | 17 | €18,289 | €35,639 | +€17,349 | +94.9% |
| Financial debts | 170/4 | €18,289 | €35,639 | +€17,349 | +94.9% |
| Amounts payable within one year | 42/48 | €81,542 | €82,942 | +€1,401 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €9,521 | €16,574 | +€7,053 | +74.1% |
| Financial debts | 43 | €3 | €2,298 | +€2,295 | +85649.6% |
| Credit institutions | 430/8 | €3 | €2,298 | +€2,295 | +85649.6% |
| Trade debts | 44 | €25,545 | €9,057 | -€16,488 | -64.5% |
| Suppliers | 440/4 | €25,545 | €9,057 | -€16,488 | -64.5% |
| Taxes, remuneration and social security | 45 | €18,689 | €14,590 | -€4,099 | -21.9% |
| Taxes | 450/3 | €18,689 | €14,590 | -€4,099 | -21.9% |
| Other amounts payable | 47/48 | €27,784 | €40,423 | +€12,639 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,156 | €6,026 | -€130 | -2.1% |
| Other operating charges | 640/8 | €1,428 | €1,446 | +€18 | +1.3% |
| Non-recurring operating charges | 66A | €38 | €384 | +€346 | +911.7% |
| Gross operating margin | 9900 | €63,585 | €9,839 | -€53,746 | -84.5% |
| Operating profit (loss) | 9901 | €55,963 | €1,983 | -€53,980 | -96.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,743 | €5,896 | +€4,154 | +238.3% |
| Recurring financial charges | 65 | €1,743 | €5,896 | +€4,154 | +238.3% |
| Profit (loss) for the period before taxes | 9903 | €54,220 | -€3,914 | -€58,134 | |
| Income taxes | 67/77 | €9,843 | -€344 | -€10,187 | |
| Profit (loss) for the period | 9904 | €44,377 | -€3,570 | -€47,947 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,377 | -€3,570 | -€47,947 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.