SPEELSTAD: 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.
SPEELSTAD
Largest movements
- Current investments +€801,229
new in 2025: €801,229
- Cash -€317,970
down €317,970 (-33.9%), from €939,097 to €621,127
mainly Current investments (-€801,229) and Investment in fixed assets (net) (-€530,705)
- Receivables within one year -€315,933
down €315,933 (-72.8%), from €434,220 to €118,287
of which Trade receivables: -€250,704
- Tangible fixed assets -€222,392
down €222,392 (-4.2%), from €5.3m to €5.1m
of which Land and buildings: -€408,370
- Debts after one year -€351,314
down €351,314 (-18.6%), from €1.9m to €1.5m
- Reserves +€203,857
up €203,857 (+8.3%), from €2.4m to €2.6m
- Other debts +€120,997
up €120,997 (+568.6%), from €21,279 to €142,275
- Tax, wage and social debts +€111,193
up €111,193 (+77.9%), from €142,757 to €253,950
of which Taxes: +€86,475
- Accrued charges and deferred income -€86,226
down €86,226 (-61.7%), from €139,689 to €53,462
- Staff costs +€125,487
up €125,487 (+10.7%), from €1.2m to €1.3m
- Gross operating margin -€114,597
down €114,597 (-3.8%), from €3.0m to €2.9m
- Depreciation +€48,198
up €48,198 (+6.8%), from €706,603 to €754,801
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 | €6,872,051 | €6,805,833 | -€66,218 | -1.0% |
| Fixed assets | 21/28 | €5,330,577 | €5,106,481 | -€224,096 | -4.2% |
| Intangible fixed assets | 21 | €4,243 | €2,539 | -€1,704 | -40.2% |
| Tangible fixed assets | 22/27 | €5,326,334 | €5,103,942 | -€222,392 | -4.2% |
| Land and buildings | 22 | €3,636,019 | €3,227,649 | -€408,370 | -11.2% |
| Plant, machinery and equipment | 23 | €1,438,629 | €1,684,541 | +€245,912 | +17.1% |
| Furniture and vehicles | 24 | €242,251 | €191,752 | -€50,500 | -20.8% |
| Leasing and similar rights | 25 | €9,434 | - | -€9,434 | |
| Current assets | 29/58 | €1,541,475 | €1,699,352 | +€157,878 | +10.2% |
| Stocks and contracts in progress | 3 | €21,649 | €20,007 | -€1,641 | -7.6% |
| Stocks | 30/36 | €21,649 | €20,007 | -€1,641 | -7.6% |
| Amounts receivable within one year | 40/41 | €434,220 | €118,287 | -€315,933 | -72.8% |
| Trade receivables | 40 | €368,009 | €117,305 | -€250,704 | -68.1% |
| Other amounts receivable | 41 | €66,212 | €983 | -€65,229 | -98.5% |
| Current investments | 50/53 | - | €801,229 | +€801,229 | |
| Cash at bank and in hand | 54/58 | €939,097 | €621,127 | -€317,970 | -33.9% |
| Deferred charges and accrued income | 490/1 | €146,509 | €138,701 | -€7,808 | -5.3% |
| Total equity and liabilities | 10/49 | €6,872,051 | €6,805,833 | -€66,218 | -1.0% |
| Equity | 10/15 | €3,991,301 | €4,195,158 | +€203,857 | +5.1% |
| Contributions | 10/11 | €1,548,000 | €1,548,000 | = | 0.0% |
| Reserves | 13 | €2,443,301 | €2,647,158 | +€203,857 | +8.3% |
| Distributable reserves | 133 | €2,443,301 | €2,647,158 | +€203,857 | +8.3% |
| Amounts payable | 17/49 | €2,880,750 | €2,610,675 | -€270,075 | -9.4% |
| Amounts payable after more than one year | 17 | €1,891,643 | €1,540,329 | -€351,314 | -18.6% |
| Financial debts | 170/4 | €1,891,643 | €1,540,329 | -€351,314 | -18.6% |
| Amounts payable within one year | 42/48 | €849,419 | €1,016,884 | +€167,465 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €430,140 | €376,214 | -€53,927 | -12.5% |
| Trade debts | 44 | €254,119 | €244,445 | -€9,674 | -3.8% |
| Suppliers | 440/4 | €254,119 | €244,445 | -€9,674 | -3.8% |
| Advances received on contracts in progress | 46 | €1,124 | - | -€1,124 | |
| Taxes, remuneration and social security | 45 | €142,757 | €253,950 | +€111,193 | +77.9% |
| Taxes | 450/3 | €38,542 | €125,018 | +€86,475 | +224.4% |
| Remuneration and social security | 454/9 | €104,215 | €128,932 | +€24,718 | +23.7% |
| Other amounts payable | 47/48 | €21,279 | €142,275 | +€120,997 | +568.6% |
| Accrued charges and deferred income | 492/3 | €139,689 | €53,462 | -€86,226 | -61.7% |
| Non-recurring operating income | 76A | €17,202 | - | -€17,202 | |
| Remuneration, social security and pensions | 62 | €1,171,446 | €1,296,933 | +€125,487 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €706,603 | €754,801 | +€48,198 | +6.8% |
| Other operating charges | 640/8 | €4,162 | €17,964 | +€13,801 | +331.6% |
| Non-recurring operating charges | 66A | €250 | - | -€250 | |
| Gross operating margin | 9900 | €2,977,171 | €2,862,575 | -€114,597 | -3.8% |
| Operating profit (loss) | 9901 | €1,094,710 | €792,877 | -€301,833 | -27.6% |
| Financial income | 75/76B | €7,657 | €15,925 | +€8,268 | +108.0% |
| Recurring financial income | 75 | €7,657 | €15,925 | +€8,268 | +108.0% |
| Financial charges | 65/66B | €58,444 | €56,716 | -€1,728 | -3.0% |
| Recurring financial charges | 65 | €58,444 | €56,716 | -€1,728 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €1,043,923 | €752,087 | -€291,836 | -28.0% |
| Income taxes | 67/77 | €264,557 | €238,088 | -€26,469 | -10.0% |
| Profit (loss) for the period | 9904 | €779,366 | €513,999 | -€265,367 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €779,366 | €513,999 | -€265,367 | -34.0% |
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 11 October 2026 via checked.be.