Spectrum by lot: 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.
Spectrum by lot
Largest movements
- Receivables within one year -€32,731
down €32,731 (-16.2%), from €202,116 to €169,384
of which Other amounts receivable: -€37,767
- Tangible fixed assets +€20,632
up €20,632 (+2,031%), from €1,016 to €21,648
of which Land and buildings: +€10,341
- Cash -€4,543
down €4,543 (-73.0%), from €6,222 to €1,679
mainly Net result for the year (-€50,912) and Investment in fixed assets (net) (-€21,974)
- Profit (loss) carried forward -€50,912
down €50,912 (-27.8%), from €183,086 to €132,174
- Trade debts +€35,047
up €35,047 (+696%), from €5,039 to €40,086
- Gross operating margin -€47,261
down €47,261 (-2,087%), from -€2,265 to -€49,526
- Depreciation +€1,100
up €1,100 (+454%), from €242 to €1,342
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 | €209,353 | €192,712 | -€16,642 | -7.9% |
| Fixed assets | 21/28 | €1,016 | €21,648 | +€20,632 | +2,031% |
| Tangible fixed assets | 22/27 | €1,016 | €21,648 | +€20,632 | +2,031% |
| Land and buildings | 22 | - | €10,341 | +€10,341 | |
| Plant, machinery and equipment | 23 | €1,016 | €11,307 | +€10,291 | +1,013% |
| Current assets | 29/58 | €208,337 | €171,063 | -€37,274 | -17.9% |
| Amounts receivable within one year | 40/41 | €202,116 | €169,384 | -€32,731 | -16.2% |
| Trade receivables | 40 | €113,074 | €118,110 | +€5,036 | +4.5% |
| Other amounts receivable | 41 | €89,041 | €51,274 | -€37,767 | -42.4% |
| Cash at bank and in hand | 54/58 | €6,222 | €1,679 | -€4,543 | -73.0% |
| Total equity and liabilities | 10/49 | €209,353 | €192,712 | -€16,642 | -7.9% |
| Equity | 10/15 | €203,537 | €152,625 | -€50,912 | -25.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €183,086 | €132,174 | -€50,912 | -27.8% |
| Amounts payable | 17/49 | €5,816 | €40,086 | +€34,270 | +589% |
| Amounts payable within one year | 42/48 | €5,816 | €40,086 | +€34,270 | +589% |
| Trade debts | 44 | €5,039 | €40,086 | +€35,047 | +696% |
| Suppliers | 440/4 | €5,039 | €40,086 | +€35,047 | +696% |
| Taxes, remuneration and social security | 45 | €777 | - | -€777 | |
| Taxes | 450/3 | €777 | - | -€777 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242 | €1,342 | +€1,100 | +454% |
| Other operating charges | 640/8 | €118 | - | -€118 | |
| Gross operating margin | 9900 | -€2,265 | -€49,526 | -€47,261 | -2,087% |
| Operating profit (loss) | 9901 | -€2,625 | -€50,868 | -€48,243 | -1,838% |
| Financial charges | 65/66B | €0 | €44 | +€44 | +20,819% |
| Recurring financial charges | 65 | €0 | €44 | +€44 | +20,819% |
| Profit (loss) for the period before taxes | 9903 | -€2,625 | -€50,912 | -€48,287 | -1,839% |
| Profit (loss) for the period | 9904 | -€2,625 | -€50,912 | -€48,287 | -1,839% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,625 | -€50,912 | -€48,287 | -1,839% |
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 29 October 2026 via checked.be.