Specon: 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.
Specon
Largest movements
- Cash -€30,845
down €30,845 (-44.8%), from €68,809 to €37,964
mainly Contributions, distributions and other (-€75,000) and Tax, wage and social debts (-€12,731)
- Receivables within one year -€24,532
down €24,532 (-60.8%), from €40,342 to €15,811
of which Trade receivables: -€36,623
- Tangible fixed assets -€5,449
down €5,449 (-53.5%), from €10,181 to €4,731
of which Furniture and vehicles: -€3,715
- Deferred charges and accrued income -€2,403
down €2,403 (-97.4%), from €2,466 to €63
- Reserves -€46,206
down €46,206 (-59.0%), from €78,367 to €32,161
- Tax, wage and social debts -€12,731
down €12,731 (-74.1%), from €17,174 to €4,443
- Trade debts -€2,926
down €2,926 (-61.9%), from €4,727 to €1,801
- Other debts -€2,218
down €2,218 (-64.8%), from €3,423 to €1,205
- Gross operating margin -€61,100
down €61,100 (-59.0%), from €103,582 to €42,483
- Taxes -€11,891
down €11,891 (-59.0%), from €20,167 to €8,276
- Depreciation -€1,643
down €1,643 (-39.2%), from €4,188 to €2,546
- Other operating charges -€1,556
down €1,556 (-58.8%), from €2,646 to €1,090
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 | €123,148 | €59,919 | -€63,230 | -51.3% |
| Fixed assets | 21/28 | €11,531 | €6,081 | -€5,449 | -47.3% |
| Tangible fixed assets | 22/27 | €10,181 | €4,731 | -€5,449 | -53.5% |
| Plant, machinery and equipment | 23 | €1,912 | €714 | -€1,198 | -62.7% |
| Furniture and vehicles | 24 | €5,349 | €1,634 | -€3,715 | -69.4% |
| Other tangible fixed assets | 26 | €2,920 | €2,383 | -€536 | -18.4% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €111,618 | €53,837 | -€57,780 | -51.8% |
| Amounts receivable within one year | 40/41 | €40,342 | €15,811 | -€24,532 | -60.8% |
| Trade receivables | 40 | €40,342 | €3,719 | -€36,623 | -90.8% |
| Other amounts receivable | 41 | - | €12,091 | +€12,091 | |
| Cash at bank and in hand | 54/58 | €68,809 | €37,964 | -€30,845 | -44.8% |
| Deferred charges and accrued income | 490/1 | €2,466 | €63 | -€2,403 | -97.4% |
| Total equity and liabilities | 10/49 | €123,148 | €59,919 | -€63,230 | -51.3% |
| Equity | 10/15 | €96,967 | €50,761 | -€46,206 | -47.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €78,367 | €32,161 | -€46,206 | -59.0% |
| Distributable reserves | 133 | €78,367 | €32,161 | -€46,206 | -59.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €26,181 | €9,157 | -€17,024 | -65.0% |
| Amounts payable within one year | 42/48 | €26,181 | €9,157 | -€17,024 | -65.0% |
| Financial debts | 43 | €857 | €1,709 | +€851 | +99.3% |
| Credit institutions | 430/8 | €857 | €1,709 | +€851 | +99.3% |
| Trade debts | 44 | €4,727 | €1,801 | -€2,926 | -61.9% |
| Suppliers | 440/4 | €4,727 | €1,801 | -€2,926 | -61.9% |
| Taxes, remuneration and social security | 45 | €17,174 | €4,443 | -€12,731 | -74.1% |
| Taxes | 450/3 | €17,174 | €4,443 | -€12,731 | -74.1% |
| Other amounts payable | 47/48 | €3,423 | €1,205 | -€2,218 | -64.8% |
| Non-recurring operating income | 76A | - | €9,446 | +€9,446 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,188 | €2,546 | -€1,643 | -39.2% |
| Other operating charges | 640/8 | €2,646 | €1,090 | -€1,556 | -58.8% |
| Gross operating margin | 9900 | €103,582 | €42,483 | -€61,100 | -59.0% |
| Operating profit (loss) | 9901 | €96,748 | €38,847 | -€57,901 | -59.8% |
| Financial income | 75/76B | €287 | €0 | -€287 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +700.0% |
| Non-recurring financial income | 76B | €287 | €0 | -€287 | -100.0% |
| Financial charges | 65/66B | €2,102 | €1,777 | -€325 | -15.5% |
| Recurring financial charges | 65 | €2,102 | €1,777 | -€325 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €94,933 | €37,070 | -€57,862 | -61.0% |
| Income taxes | 67/77 | €20,167 | €8,276 | -€11,891 | -59.0% |
| Profit (loss) for the period | 9904 | €74,766 | €28,794 | -€45,972 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €74,766 | €28,794 | -€45,972 | -61.5% |
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 10 October 2026 via checked.be.