SPEELVOGELS: 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.
SPEELVOGELS
Largest movements
- Receivables within one year +€13,647
up €13,647 (+31.2%), from €43,716 to €57,363
of which Trade receivables: +€18,997
- Tangible fixed assets -€3,198
down €3,198 (-16.0%), from €19,927 to €16,729
- Cash -€1,192
down €1,192 (-46.4%), from €2,568 to €1,376
mainly Receivables within one year (-€13,647) and Contributions, distributions and other (-€10,000)
- Other debts +€10,000
new in 2025: €10,000
- Profit (loss) carried forward +€8,621
up €8,621 (+43.1%), from €20,015 to €28,636
- Current portion of long-term debt -€4,932
down €4,932 (-61.0%), from €8,080 to €3,148
- Tax, wage and social debts -€4,298
down €4,298 (-25.9%), from €16,590 to €12,292
- Trade debts +€3,452
up €3,452 (+348%), from €992 to €4,444
- Gross operating margin +€6,653
up €6,653 (+29.8%), from €22,339 to €28,992
- Financial charges +€3,009
up €3,009 (+255%), from €1,179 to €4,188
- Other operating charges -€1,785
down €1,785 (-82.9%), from €2,154 to €369
- Taxes -€1,080
down €1,080 (-29.2%), from €3,696 to €2,616
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 | €66,211 | €75,468 | +€9,257 | +14.0% |
| Fixed assets | 21/28 | €19,927 | €16,729 | -€3,198 | -16.0% |
| Tangible fixed assets | 22/27 | €19,927 | €16,729 | -€3,198 | -16.0% |
| Other tangible fixed assets | 26 | €19,927 | €16,729 | -€3,198 | -16.0% |
| Current assets | 29/58 | €46,284 | €58,739 | +€12,455 | +26.9% |
| Amounts receivable within one year | 40/41 | €43,716 | €57,363 | +€13,647 | +31.2% |
| Trade receivables | 40 | €22,902 | €41,899 | +€18,997 | +82.9% |
| Other amounts receivable | 41 | €20,814 | €15,464 | -€5,350 | -25.7% |
| Cash at bank and in hand | 54/58 | €2,568 | €1,376 | -€1,192 | -46.4% |
| Total equity and liabilities | 10/49 | €66,211 | €75,468 | +€9,257 | +14.0% |
| Equity | 10/15 | €22,015 | €30,636 | +€8,621 | +39.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,015 | €28,636 | +€8,621 | +43.1% |
| Amounts payable | 17/49 | €44,196 | €44,832 | +€636 | +1.4% |
| Amounts payable after more than one year | 17 | €18,096 | €14,948 | -€3,148 | -17.4% |
| Financial debts | 170/4 | €18,096 | €14,948 | -€3,148 | -17.4% |
| Amounts payable within one year | 42/48 | €25,662 | €29,884 | +€4,222 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €8,080 | €3,148 | -€4,932 | -61.0% |
| Trade debts | 44 | €992 | €4,444 | +€3,452 | +348% |
| Suppliers | 440/4 | €992 | €4,444 | +€3,452 | +348% |
| Taxes, remuneration and social security | 45 | €16,590 | €12,292 | -€4,298 | -25.9% |
| Taxes | 450/3 | €16,590 | €12,292 | -€4,298 | -25.9% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | €438 | - | -€438 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,199 | €3,198 | -€1 | 0.0% |
| Other operating charges | 640/8 | €2,154 | €369 | -€1,785 | -82.9% |
| Non-recurring operating charges | 66A | €1,757 | - | -€1,757 | |
| Gross operating margin | 9900 | €22,339 | €28,992 | +€6,653 | +29.8% |
| Operating profit (loss) | 9901 | €15,229 | €25,425 | +€10,196 | +67.0% |
| Financial charges | 65/66B | €1,179 | €4,188 | +€3,009 | +255% |
| Recurring financial charges | 65 | €1,179 | €4,188 | +€3,009 | +255% |
| Profit (loss) for the period before taxes | 9903 | €14,050 | €21,237 | +€7,187 | +51.2% |
| Income taxes | 67/77 | €3,696 | €2,616 | -€1,080 | -29.2% |
| Profit (loss) for the period | 9904 | €10,354 | €18,621 | +€8,267 | +79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,354 | €18,621 | +€8,267 | +79.8% |
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 20 October 2026 via checked.be.