Specter: 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.
What changed
Specter
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€313,652
2024 · €373,406-€59,754
Equity
€162,420
2024 · €158,768+€3,652
Cash
€17,295
2024 · €23,533-€6,238
Balance sheet total
€3.5m
2024 · €2.3m+€1.2m
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+52.9%), from €2.2m to €3.4m
of which Trade receivables: +€1.1m
Equity and liabilities
- Current portion of long-term debt +€833,995
up €833,995 (+201.6%), from €413,718 to €1.2m
- Trade debts +€261,489
up €261,489 (+24.0%), from €1.1m to €1.4m
- Short-term financial debts +€100,000
up €100,000, from €0 to €100,000
- Tax, wage and social debts +€63,162
up €63,162 (+59.5%), from €106,106 to €169,269
of which Remuneration and social security: +€62,871
- Other debts -€40,000
down €40,000 (-11.4%), from €350,000 to €310,000
Income statement
- Staff costs +€58,544
up €58,544 (+7.6%), from €773,035 to €831,579
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.
Result 2024
€373,406
Gross operating margin
-€10,222
Staff costs
-€58,544
Depreciation
-€2,036
Other operating charges
+€540
Financial charges
+€6,226
Taxes
+€4,282
Result 2025
€313,652
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.
From operations
-€573,678
Investment
-€37,805
Financing
+€605,245
Cash 2024
€23,533
From operations (derived)
-€573,678
Net result for the year
+€313,652
Depreciation
+€8,154
Receivables within one year
-€1.2m
Deferred charges and accrued income
-€18,224
Trade debts
+€261,489
Tax, wage and social debts
+€63,162
Other debts
-€40,000
Accrued charges and deferred income
+€4,548
Investment (derived)
-€37,805
Investment in fixed assets (net)
-€37,805
Financing
+€605,245
Debts after one year
-€18,750
Current portion of long-term debt
+€833,995
Short-term financial debts
+€100,000
Contributions, distributions and other
-€310,000
Cash 2025
€17,295
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,298,904 | €3,507,001 | +€1.2m | +52.6% |
| Fixed assets | 21/28 | €57,633 | €87,283 | +€29,650 | +51.4% |
| Tangible fixed assets | 22/27 | €40,141 | €67,658 | +€27,516 | +68.5% |
| Plant, machinery and equipment | 23 | €7,410 | €34,511 | +€27,101 | +365.8% |
| Furniture and vehicles | 24 | €5,009 | €9,167 | +€4,158 | +83.0% |
| Other tangible fixed assets | 26 | €27,723 | €23,980 | -€3,742 | -13.5% |
| Financial fixed assets | 28 | €17,492 | €19,626 | +€2,134 | +12.2% |
| Current assets | 29/58 | €2,241,271 | €3,419,718 | +€1.2m | +52.6% |
| Amounts receivable within one year | 40/41 | €2,204,426 | €3,370,887 | +€1.2m | +52.9% |
| Trade receivables | 40 | €1,987,579 | €3,060,749 | +€1.1m | +54.0% |
| Other amounts receivable | 41 | €216,847 | €310,138 | +€93,291 | +43.0% |
| Cash at bank and in hand | 54/58 | €23,533 | €17,295 | -€6,238 | -26.5% |
| Deferred charges and accrued income | 490/1 | €13,312 | €31,537 | +€18,224 | +136.9% |
| Total equity and liabilities | 10/49 | €2,298,904 | €3,507,001 | +€1.2m | +52.6% |
| Equity | 10/15 | €158,768 | €162,420 | +€3,652 | +2.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €153,768 | €157,420 | +€3,652 | +2.4% |
| Distributable reserves | 133 | €153,768 | €157,420 | +€3,652 | +2.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,140,137 | €3,344,581 | +€1.2m | +56.3% |
| Amounts payable after more than one year | 17 | €175,938 | €157,188 | -€18,750 | -10.7% |
| Financial debts | 170/4 | €175,938 | €157,188 | -€18,750 | -10.7% |
| Amounts payable within one year | 42/48 | €1,960,284 | €3,178,931 | +€1.2m | +62.2% |
| Current portion of amounts payable after more than one year | 42 | €413,718 | €1,247,713 | +€833,995 | +201.6% |
| Financial debts | 43 | €0 | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | €0 | €100,000 | +€100,000 | |
| Trade debts | 44 | €1,090,459 | €1,351,949 | +€261,489 | +24.0% |
| Suppliers | 440/4 | €1,090,459 | €1,351,949 | +€261,489 | +24.0% |
| Taxes, remuneration and social security | 45 | €106,106 | €169,269 | +€63,162 | +59.5% |
| Taxes | 450/3 | €21,964 | €22,254 | +€291 | +1.3% |
| Remuneration and social security | 454/9 | €84,143 | €147,014 | +€62,871 | +74.7% |
| Other amounts payable | 47/48 | €350,000 | €310,000 | -€40,000 | -11.4% |
| Accrued charges and deferred income | 492/3 | €3,915 | €8,463 | +€4,548 | +116.2% |
| Remuneration, social security and pensions | 62 | €773,035 | €831,579 | +€58,544 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,118 | €8,154 | +€2,036 | +33.3% |
| Other operating charges | 640/8 | €8,919 | €8,379 | -€540 | -6.1% |
| Gross operating margin | 9900 | €1,228,057 | €1,217,836 | -€10,222 | -0.8% |
| Operating profit (loss) | 9901 | €439,986 | €369,724 | -€70,262 | -16.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €49,883 | €43,657 | -€6,226 | -12.5% |
| Recurring financial charges | 65 | €49,883 | €43,657 | -€6,226 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €390,103 | €326,067 | -€64,036 | -16.4% |
| Income taxes | 67/77 | €16,697 | €12,415 | -€4,282 | -25.6% |
| Profit (loss) for the period | 9904 | €373,406 | €313,652 | -€59,754 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €373,406 | €313,652 | -€59,754 | -16.0% |
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 12 October 2026 via checked.be.