SPECTRUM-EUROPE: 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-EUROPE
Largest movements
- Receivables within one year +€11,315
up €11,315 (+1,949%), from €581 to €11,895
of which Trade receivables: +€10,970
- Cash -€4,913
down €4,913 (-34.4%), from €14,278 to €9,364
mainly Receivables within one year (-€11,315) and Other debts (-€10,581)
- Deferred charges and accrued income -€3,699
no longer reported in 2025 (was €3,699)
- Other debts -€10,581
down €10,581 (-40.2%), from €26,346 to €15,765
- Trade debts +€10,242
up €10,242 (+3,152%), from €325 to €10,567
- Profit (loss) carried forward +€9,154
up €9,154 (+50.3%), from -€18,217 to -€9,063
- Tax, wage and social debts -€6,240
no longer reported in 2025 (was €6,240)
- Gross operating margin +€42,571
up €42,571, from -€32,590 to €9,981
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 | €18,684 | €21,260 | +€2,575 | +13.8% |
| Fixed assets | 21/28 | €127 | - | -€127 | |
| Tangible fixed assets | 22/27 | €127 | - | -€127 | |
| Furniture and vehicles | 24 | €127 | - | -€127 | |
| Current assets | 29/58 | €18,557 | €21,260 | +€2,702 | +14.6% |
| Amounts receivable within one year | 40/41 | €581 | €11,895 | +€11,315 | +1,949% |
| Trade receivables | 40 | €47 | €11,018 | +€10,970 | +23,213% |
| Other amounts receivable | 41 | €533 | €878 | +€344 | +64.6% |
| Cash at bank and in hand | 54/58 | €14,278 | €9,364 | -€4,913 | -34.4% |
| Deferred charges and accrued income | 490/1 | €3,699 | - | -€3,699 | |
| Total equity and liabilities | 10/49 | €18,684 | €21,260 | +€2,575 | +13.8% |
| Equity | 10/15 | -€14,227 | -€5,073 | +€9,154 | +64.3% |
| Contributions | 10/11 | €3,990 | €3,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,217 | -€9,063 | +€9,154 | +50.3% |
| Amounts payable | 17/49 | €32,911 | €26,332 | -€6,579 | -20.0% |
| Amounts payable within one year | 42/48 | €32,911 | €26,332 | -€6,579 | -20.0% |
| Trade debts | 44 | €325 | €10,567 | +€10,242 | +3,152% |
| Suppliers | 440/4 | €325 | €10,567 | +€10,242 | +3,152% |
| Taxes, remuneration and social security | 45 | €6,240 | - | -€6,240 | |
| Taxes | 450/3 | €6,240 | - | -€6,240 | |
| Other amounts payable | 47/48 | €26,346 | €15,765 | -€10,581 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €379 | €127 | -€252 | -66.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€32,590 | €9,981 | +€42,571 | |
| Operating profit (loss) | 9901 | -€33,357 | €9,454 | +€42,811 | |
| Financial income | 75/76B | €90 | €38 | -€52 | -58.3% |
| Recurring financial income | 75 | €90 | €38 | -€52 | -58.3% |
| Financial charges | 65/66B | €436 | €338 | -€99 | -22.6% |
| Recurring financial charges | 65 | €436 | €338 | -€99 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | -€33,704 | €9,154 | +€42,858 | |
| Profit (loss) for the period | 9904 | -€33,704 | €9,154 | +€42,858 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,704 | €9,154 | +€42,858 |
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 30 October 2026 via checked.be.