SPECTRAL: 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.
SPECTRAL
Largest movements
- Cash +€9,802
up €9,802 (+15.9%), from €61,712 to €71,514
mainly Net result for the year (+€30,663) and Other debts (+€11,750)
- Receivables within one year +€6,593
up €6,593 (+6.7%), from €98,216 to €104,809
of which Trade receivables: +€15,386
- Tangible fixed assets -€4,197
down €4,197 (-8.5%), from €49,207 to €45,010
of which Furniture and vehicles: -€5,308
- Other debts +€11,750
up €11,750 (+111.9%), from €10,500 to €22,250
- Reserves +€8,413
up €8,413 (+5.2%), from €160,778 to €169,191
of which Distributable reserves: +€8,413
- Current portion of long-term debt -€7,083
down €7,083 (-51.5%), from €13,755 to €6,672
- Debts after one year -€6,672
down €6,672 (-49.0%), from €13,619 to €6,946
- Tax, wage and social debts +€3,862
up €3,862 (+109.9%), from €3,514 to €7,376
- Financial income +€9,955
up €9,955 (+174.1%), from €5,718 to €15,673
- Gross operating margin +€7,166
up €7,166 (+23.4%), from €30,657 to €37,823
- Taxes +€4,380
up €4,380 (+50.7%), from €8,641 to €13,021
- Depreciation +€1,304
up €1,304 (+30.8%), from €4,227 to €5,531
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 | €209,134 | €221,333 | +€12,199 | +5.8% |
| Fixed assets | 21/28 | €49,207 | €45,010 | -€4,197 | -8.5% |
| Tangible fixed assets | 22/27 | €49,207 | €45,010 | -€4,197 | -8.5% |
| Land and buildings | 22 | €12,543 | €12,543 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €1,112 | +€1,112 | |
| Furniture and vehicles | 24 | €36,663 | €31,355 | -€5,308 | -14.5% |
| Current assets | 29/58 | €159,928 | €176,323 | +€16,396 | +10.3% |
| Amounts receivable within one year | 40/41 | €98,216 | €104,809 | +€6,593 | +6.7% |
| Trade receivables | 40 | €11,852 | €27,238 | +€15,386 | +129.8% |
| Other amounts receivable | 41 | €86,364 | €77,571 | -€8,792 | -10.2% |
| Cash at bank and in hand | 54/58 | €61,712 | €71,514 | +€9,802 | +15.9% |
| Total equity and liabilities | 10/49 | €209,134 | €221,333 | +€12,199 | +5.8% |
| Equity | 10/15 | €166,976 | €175,388 | +€8,413 | +5.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €160,778 | €169,191 | +€8,413 | +5.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €158,919 | €167,332 | +€8,413 | +5.3% |
| Amounts payable | 17/49 | €42,159 | €45,945 | +€3,786 | +9.0% |
| Amounts payable after more than one year | 17 | €13,619 | €6,946 | -€6,672 | -49.0% |
| Financial debts | 170/4 | €13,619 | €6,946 | -€6,672 | -49.0% |
| Amounts payable within one year | 42/48 | €28,540 | €38,999 | +€10,458 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €13,755 | €6,672 | -€7,083 | -51.5% |
| Trade debts | 44 | €771 | €2,700 | +€1,929 | +250.0% |
| Suppliers | 440/4 | €771 | €2,700 | +€1,929 | +250.0% |
| Taxes, remuneration and social security | 45 | €3,514 | €7,376 | +€3,862 | +109.9% |
| Taxes | 450/3 | €3,514 | €7,376 | +€3,862 | +109.9% |
| Other amounts payable | 47/48 | €10,500 | €22,250 | +€11,750 | +111.9% |
| Non-recurring operating income | 76A | €7,000 | - | -€7,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,227 | €5,531 | +€1,304 | +30.8% |
| Other operating charges | 640/8 | €1,203 | €1,227 | +€24 | +2.0% |
| Non-recurring operating charges | 66A | €400 | - | -€400 | |
| Gross operating margin | 9900 | €30,657 | €37,823 | +€7,166 | +23.4% |
| Operating profit (loss) | 9901 | €24,827 | €31,066 | +€6,238 | +25.1% |
| Financial income | 75/76B | €5,718 | €15,673 | +€9,955 | +174.1% |
| Recurring financial income | 75 | €5,718 | €15,673 | +€9,955 | +174.1% |
| Financial charges | 65/66B | €3,312 | €3,054 | -€257 | -7.8% |
| Recurring financial charges | 65 | €3,312 | €3,054 | -€257 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €27,234 | €43,684 | +€16,450 | +60.4% |
| Income taxes | 67/77 | €8,641 | €13,021 | +€4,380 | +50.7% |
| Profit (loss) for the period | 9904 | €18,593 | €30,663 | +€12,070 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,593 | €30,663 | +€12,070 | +64.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.