SPELMANS: 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.
SPELMANS
Largest movements
- Tangible fixed assets -€21,160
down €21,160 (-12.9%), from €163,612 to €142,452
of which Other tangible fixed assets: -€15,165
- Cash +€11,038
up €11,038 (+6.6%), from €166,659 to €177,696
mainly Debts after one year (+€79,540) and Depreciation (+€22,918)
- Receivables within one year -€8,779
down €8,779 (-20.4%), from €42,951 to €34,172
of which Trade receivables: -€5,645
- Deferred charges and accrued income +€3,932
up €3,932 (+1,932%), from €204 to €4,136
- Trade debts -€103,721
down €103,721 (-87.7%), from €118,235 to €14,514
- Debts after one year +€79,540
new in 2024: €79,540
- Reserves +€8,607
up €8,607 (+5.2%), from €166,034 to €174,641
of which Distributable reserves: +€8,607
- Gross operating margin +€12,472
up €12,472 (+32.3%), from €38,663 to €51,135
- Depreciation +€11,705
up €11,705 (+104%), from €11,213 to €22,918
- Taxes -€9,044
down €9,044 (-44.1%), from €20,500 to €11,456
- Financial income -€6,676
down €6,676 (-83.9%), from €7,953 to €1,277
of which Non-recurring financial income: -€7,434
- Financial charges +€2,730
up €2,730 (+217%), from €1,257 to €3,987
of which Financial charges: +€2,857
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €378,081 | €363,391 | -€14,690 | -3.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €163,612 | €142,452 | -€21,160 | -12.9% |
| Tangible fixed assets | 22/27 | €163,612 | €142,452 | -€21,160 | -12.9% |
| Plant, machinery and equipment | 23 | €24,096 | €20,424 | -€3,673 | -15.2% |
| Furniture and vehicles | 24 | €7,667 | €5,344 | -€2,322 | -30.3% |
| Other tangible fixed assets | 26 | €131,849 | €116,684 | -€15,165 | -11.5% |
| Current assets | 29/58 | €214,470 | €220,939 | +€6,470 | +3.0% |
| Stocks and contracts in progress | 3 | €4,657 | €4,936 | +€279 | +6.0% |
| Stocks | 30/36 | €4,657 | €4,936 | +€279 | +6.0% |
| Amounts receivable within one year | 40/41 | €42,951 | €34,172 | -€8,779 | -20.4% |
| Trade receivables | 40 | €39,816 | €34,172 | -€5,645 | -14.2% |
| Other amounts receivable | 41 | €3,134 | - | -€3,134 | |
| Cash at bank and in hand | 54/58 | €166,659 | €177,696 | +€11,038 | +6.6% |
| Deferred charges and accrued income | 490/1 | €204 | €4,136 | +€3,932 | +1,932% |
| Total equity and liabilities | 10/49 | €378,081 | €363,391 | -€14,690 | -3.9% |
| Equity | 10/15 | €184,634 | €193,241 | +€8,607 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €166,034 | €174,641 | +€8,607 | +5.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €7,898 | €7,898 | = | 0.0% |
| Distributable reserves | 133 | €156,276 | €164,883 | +€8,607 | +5.5% |
| Amounts payable | 17/49 | €193,448 | €170,150 | -€23,298 | -12.0% |
| Amounts payable after more than one year | 17 | - | €79,540 | +€79,540 | |
| Financial debts | 170/4 | - | €79,540 | +€79,540 | |
| Amounts payable within one year | 42/48 | €193,448 | €90,580 | -€102,868 | -53.2% |
| Financial debts | 43 | - | €2,198 | +€2,198 | |
| Credit institutions | 430/8 | - | €2,198 | +€2,198 | |
| Trade debts | 44 | €118,235 | €14,514 | -€103,721 | -87.7% |
| Suppliers | 440/4 | €118,235 | €14,514 | -€103,721 | -87.7% |
| Taxes, remuneration and social security | 45 | €10,799 | €11,164 | +€365 | +3.4% |
| Taxes | 450/3 | €10,799 | €11,164 | +€365 | +3.4% |
| Other amounts payable | 47/48 | €64,414 | €62,705 | -€1,709 | -2.7% |
| Accrued charges and deferred income | 492/3 | - | €30 | +€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,213 | €22,918 | +€11,705 | +104% |
| Other operating charges | 640/8 | €3,908 | €5,444 | +€1,536 | +39.3% |
| Gross operating margin | 9900 | €38,663 | €51,135 | +€12,472 | +32.3% |
| Operating profit (loss) | 9901 | €23,541 | €22,773 | -€768 | -3.3% |
| Financial income | 75/76B | €7,953 | €1,277 | -€6,676 | -83.9% |
| Recurring financial income | 75 | €520 | €1,277 | +€758 | +146% |
| Non-recurring financial income | 76B | €7,434 | - | -€7,434 | |
| Financial charges | 65/66B | €1,257 | €3,987 | +€2,730 | +217% |
| Recurring financial charges | 65 | €1,130 | €3,987 | +€2,857 | +253% |
| Non-recurring financial charges | 66B | €127 | - | -€127 | |
| Profit (loss) for the period before taxes | 9903 | €30,237 | €20,064 | -€10,174 | -33.6% |
| Income taxes | 67/77 | €20,500 | €11,456 | -€9,044 | -44.1% |
| Profit (loss) for the period | 9904 | €9,737 | €8,607 | -€1,130 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,737 | €8,607 | -€1,130 | -11.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.