SPECULAR CONSULTING: 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.
SPECULAR CONSULTING
Largest movements
- Cash -€128,967
down €128,967 (-79.9%), from €161,494 to €32,526
mainly Investment in fixed assets (net) (-€50,768) and Receivables within one year (-€47,051)
- Tangible fixed assets +€49,728
up €49,728 (+2,603%), from €1,911 to €51,638
of which Assets under construction and advance payments: +€50,768
- Receivables within one year +€47,051
up €47,051 (+167%), from €28,204 to €75,254
of which Other amounts receivable: +€23,922
- Tax, wage and social debts -€34,312
down €34,312 (-80.2%), from €42,790 to €8,478
of which Taxes: -€34,492
- Profit (loss) carried forward +€6,586
up €6,586 (+5.4%), from €120,909 to €127,495
- Trade debts -€4,463
down €4,463 (-18.0%), from €24,809 to €20,346
- Gross operating margin -€150,601
down €150,601 (-85.1%), from €176,975 to €26,373
- Staff costs -€54,338
down €54,338 (-81.9%), from €66,357 to €12,019
- Taxes -€19,747
down €19,747 (-88.7%), from €22,266 to €2,519
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 | €191,608 | €159,419 | -€32,189 | -16.8% |
| Fixed assets | 21/28 | €1,911 | €51,638 | +€49,728 | +2,603% |
| Tangible fixed assets | 22/27 | €1,911 | €51,638 | +€49,728 | +2,603% |
| Furniture and vehicles | 24 | €1,911 | €870 | -€1,041 | -54.5% |
| Assets under construction and advance payments | 27 | - | €50,768 | +€50,768 | |
| Current assets | 29/58 | €189,698 | €107,781 | -€81,917 | -43.2% |
| Amounts receivable within one year | 40/41 | €28,204 | €75,254 | +€47,051 | +167% |
| Trade receivables | 40 | €18,380 | €41,509 | +€23,129 | +126% |
| Other amounts receivable | 41 | €9,824 | €33,746 | +€23,922 | +244% |
| Cash at bank and in hand | 54/58 | €161,494 | €32,526 | -€128,967 | -79.9% |
| Total equity and liabilities | 10/49 | €191,608 | €159,419 | -€32,189 | -16.8% |
| Equity | 10/15 | €124,009 | €130,595 | +€6,586 | +5.3% |
| Contributions | 10/11 | €3,100 | €3,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,909 | €127,495 | +€6,586 | +5.4% |
| Amounts payable | 17/49 | €67,599 | €28,824 | -€38,775 | -57.4% |
| Amounts payable within one year | 42/48 | €67,599 | €28,824 | -€38,775 | -57.4% |
| Trade debts | 44 | €24,809 | €20,346 | -€4,463 | -18.0% |
| Suppliers | 440/4 | €24,809 | €20,346 | -€4,463 | -18.0% |
| Taxes, remuneration and social security | 45 | €42,790 | €8,478 | -€34,312 | -80.2% |
| Taxes | 450/3 | €38,454 | €3,962 | -€34,492 | -89.7% |
| Remuneration and social security | 454/9 | €4,336 | €4,516 | +€180 | +4.1% |
| Remuneration, social security and pensions | 62 | €66,357 | €12,019 | -€54,338 | -81.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,010 | €1,041 | +€31 | +3.0% |
| Other operating charges | 640/8 | €648 | €1,242 | +€594 | +91.7% |
| Gross operating margin | 9900 | €176,975 | €26,373 | -€150,601 | -85.1% |
| Operating profit (loss) | 9901 | €108,960 | €12,071 | -€96,888 | -88.9% |
| Financial income | 75/76B | €225 | €1,165 | +€940 | +417% |
| Recurring financial income | 75 | €225 | €1,165 | +€940 | +417% |
| Financial charges | 65/66B | €3,639 | €4,132 | +€493 | +13.5% |
| Recurring financial charges | 65 | €3,639 | €4,132 | +€493 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €105,546 | €9,104 | -€96,441 | -91.4% |
| Income taxes | 67/77 | €22,266 | €2,519 | -€19,747 | -88.7% |
| Profit (loss) for the period | 9904 | €83,280 | €6,586 | -€76,694 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €83,280 | €6,586 | -€76,694 | -92.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.