SPECULOOS: 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.
What changed
SPECULOOS
NACE 18.130, Pre-press and pre-media services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4,354
2024 · -€4,278-€76
Equity
-€59,010
2024 · -€54,656-€4,354
Cash
€8,179
2024 · €7,745+€434
Balance sheet total
€135,461
2024 · €147,937-€12,476
Largest movements
Assets
- Tangible fixed assets -€12,708
down €12,708 (-12.4%), from €102,426 to €89,718
Equity and liabilities
- Debts after one year -€13,012
down €13,012 (-11.7%), from €111,252 to €98,240
- Profit (loss) carried forward -€4,354
down €4,354 (-5.8%), from -€75,107 to -€79,461
Income statement
- Financial charges +€3,400
up €3,400 (+28.8%), from €11,827 to €15,228
- Staff costs -€2,467
down €2,467 (-3.8%), from €64,204 to €61,736
- Gross operating margin -€1,212
down €1,212 (-1.4%), from €88,362 to €87,150
- Other operating charges -€1,115
down €1,115 (-42.2%), from €2,639 to €1,524
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
-€4,278
Gross operating margin
-€1,212
Staff costs
+€2,467
Other operating charges
+€1,115
Other operating items
+€955
Financial income
-€0
Financial charges
-€3,400
Result 2025
-€4,354
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
+€12,899
Investment
€0
Financing
-€12,465
Cash 2024
€7,745
From operations (derived)
+€12,899
Net result for the year
-€4,354
Depreciation
+€12,708
Receivables within one year
+€1,269
Deferred charges and accrued income
-€1,067
Trade debts
+€1,312
Tax, wage and social debts
+€984
Other debts
+€831
Accrued charges and deferred income
+€1,217
Financing
-€12,465
Debts after one year
-€13,012
Current portion of long-term debt
+€548
Cash 2025
€8,179
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,937 | €135,461 | -€12,476 | -8.4% |
| Fixed assets | 21/28 | €102,426 | €89,718 | -€12,708 | -12.4% |
| Tangible fixed assets | 22/27 | €102,426 | €89,718 | -€12,708 | -12.4% |
| Land and buildings | 22 | €102,426 | €89,718 | -€12,708 | -12.4% |
| Current assets | 29/58 | €45,511 | €45,743 | +€232 | +0.5% |
| Amounts receivable within one year | 40/41 | €37,766 | €36,497 | -€1,269 | -3.4% |
| Trade receivables | 40 | €7,401 | €18,355 | +€10,954 | +148.0% |
| Other amounts receivable | 41 | €30,365 | €18,142 | -€12,223 | -40.3% |
| Cash at bank and in hand | 54/58 | €7,745 | €8,179 | +€434 | +5.6% |
| Deferred charges and accrued income | 490/1 | - | €1,067 | +€1,067 | |
| Total equity and liabilities | 10/49 | €147,937 | €135,461 | -€12,476 | -8.4% |
| Equity | 10/15 | -€54,656 | -€59,010 | -€4,354 | -8.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,107 | -€79,461 | -€4,354 | -5.8% |
| Amounts payable | 17/49 | €202,592 | €194,471 | -€8,122 | -4.0% |
| Amounts payable after more than one year | 17 | €111,252 | €98,240 | -€13,012 | -11.7% |
| Financial debts | 170/4 | €111,252 | €98,240 | -€13,012 | -11.7% |
| Amounts payable within one year | 42/48 | €91,340 | €95,014 | +€3,674 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €12,465 | €13,012 | +€548 | +4.4% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €9,374 | €10,685 | +€1,312 | +14.0% |
| Suppliers | 440/4 | €9,374 | €10,685 | +€1,312 | +14.0% |
| Taxes, remuneration and social security | 45 | €17,472 | €18,456 | +€984 | +5.6% |
| Taxes | 450/3 | €7,767 | €8,614 | +€847 | +10.9% |
| Remuneration and social security | 454/9 | €9,705 | €9,842 | +€136 | +1.4% |
| Other amounts payable | 47/48 | €2,030 | €2,861 | +€831 | +40.9% |
| Accrued charges and deferred income | 492/3 | - | €1,217 | +€1,217 | |
| Remuneration, social security and pensions | 62 | €64,204 | €61,736 | -€2,467 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,708 | €12,708 | = | 0.0% |
| Other operating charges | 640/8 | €2,639 | €1,524 | -€1,115 | -42.2% |
| Non-recurring operating charges | 66A | €1,263 | €308 | -€955 | -75.6% |
| Gross operating margin | 9900 | €88,362 | €87,150 | -€1,212 | -1.4% |
| Operating profit (loss) | 9901 | €7,549 | €10,874 | +€3,325 | +44.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -88.9% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -88.9% |
| Financial charges | 65/66B | €11,827 | €15,228 | +€3,400 | +28.8% |
| Recurring financial charges | 65 | €11,827 | €15,228 | +€3,400 | +28.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,278 | -€4,354 | -€76 | -1.8% |
| Profit (loss) for the period | 9904 | -€4,278 | -€4,354 | -€76 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,278 | -€4,354 | -€76 | -1.8% |
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.