speKtruM: 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.
speKtruM
Largest movements
- Current investments -€82,775
down €82,775 (-25.5%), from €324,210 to €241,435
- Cash -€29,071
down €29,071 (-37.5%), from €77,484 to €48,413
mainly Contributions, distributions and other (-€64,624) and Net result for the year (-€60,587)
- Tangible fixed assets -€14,203
down €14,203 (-35.8%), from €39,626 to €25,423
of which Furniture and vehicles: -€11,617
- Reserves -€125,211
down €125,211 (-18.6%), from €673,477 to €548,266
- Gross operating margin -€108,619
down €108,619, from €82,455 to -€26,164
- Taxes -€16,592
down €16,592 (-97.2%), from €17,072 to €480
- Depreciation -€2,938
down €2,938 (-17.1%), from €17,141 to €14,203
- Financial income +€1,872
up €1,872 (+157.7%), from €1,188 to €3,060
- Other operating charges -€1,017
down €1,017 (-62.3%), from €1,632 to €615
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 | €698,026 | €566,666 | -€131,360 | -18.8% |
| Fixed assets | 21/28 | €289,626 | €275,423 | -€14,203 | -4.9% |
| Tangible fixed assets | 22/27 | €39,626 | €25,423 | -€14,203 | -35.8% |
| Land and buildings | 22 | €2,250 | €2,250 | = | 0.0% |
| Furniture and vehicles | 24 | €20,828 | €9,210 | -€11,617 | -55.8% |
| Other tangible fixed assets | 26 | €16,549 | €13,963 | -€2,586 | -15.6% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €408,400 | €291,243 | -€117,157 | -28.7% |
| Amounts receivable within one year | 40/41 | €5,055 | €50 | -€5,005 | -99.0% |
| Trade receivables | 40 | €55 | - | -€55 | |
| Other amounts receivable | 41 | €5,000 | €50 | -€4,950 | -99.0% |
| Current investments | 50/53 | €324,210 | €241,435 | -€82,775 | -25.5% |
| Cash at bank and in hand | 54/58 | €77,484 | €48,413 | -€29,071 | -37.5% |
| Deferred charges and accrued income | 490/1 | €1,651 | €1,345 | -€305 | -18.5% |
| Total equity and liabilities | 10/49 | €698,026 | €566,666 | -€131,360 | -18.8% |
| Equity | 10/15 | €679,677 | €554,466 | -€125,211 | -18.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €673,477 | €548,266 | -€125,211 | -18.6% |
| Distributable reserves | 133 | €673,477 | €548,266 | -€125,211 | -18.6% |
| Amounts payable | 17/49 | €18,349 | €12,201 | -€6,149 | -33.5% |
| Amounts payable after more than one year | 17 | €1,917 | - | -€1,917 | |
| Financial debts | 170/4 | €1,917 | - | -€1,917 | |
| Amounts payable within one year | 42/48 | €16,432 | €12,201 | -€4,232 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €5,708 | €1,917 | -€3,791 | -66.4% |
| Trade debts | 44 | €2,513 | €1,382 | -€1,131 | -45.0% |
| Suppliers | 440/4 | €2,513 | €1,382 | -€1,131 | -45.0% |
| Taxes, remuneration and social security | 45 | €3,413 | €3,270 | -€144 | -4.2% |
| Taxes | 450/3 | €303 | €81 | -€222 | -73.4% |
| Remuneration and social security | 454/9 | €3,111 | €3,189 | +€78 | +2.5% |
| Other amounts payable | 47/48 | €4,798 | €5,632 | +€834 | +17.4% |
| Remuneration, social security and pensions | 62 | €20,860 | €21,862 | +€1,002 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,141 | €14,203 | -€2,938 | -17.1% |
| Other operating charges | 640/8 | €1,632 | €615 | -€1,017 | -62.3% |
| Gross operating margin | 9900 | €82,455 | -€26,164 | -€108,619 | |
| Operating profit (loss) | 9901 | €42,821 | -€62,845 | -€105,666 | |
| Financial income | 75/76B | €1,188 | €3,060 | +€1,872 | +157.7% |
| Recurring financial income | 75 | €1,188 | €3,060 | +€1,872 | +157.7% |
| Financial charges | 65/66B | €846 | €322 | -€524 | -61.9% |
| Recurring financial charges | 65 | €846 | €322 | -€524 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | €43,163 | -€60,107 | -€103,270 | |
| Income taxes | 67/77 | €17,072 | €480 | -€16,592 | -97.2% |
| Profit (loss) for the period | 9904 | €26,091 | -€60,587 | -€86,678 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,091 | -€60,587 | -€86,678 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.