Spereco: 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.
Spereco
Largest movements
- Receivables within one year -€678,228
down €678,228 (-94.0%), from €721,608 to €43,379
of which Trade receivables: -€687,074
- Cash +€417,566
up €417,566 (+105%), from €397,140 to €814,706
mainly Receivables within one year (+€678,228) and Net result for the year (+€127,194)
- Reserves +€488,653
up €488,653 (+529%), from €92,336 to €580,990
of which Distributable reserves: +€488,653
- Profit (loss) carried forward -€361,459
down €361,459 (-100%), from €361,459 to €0
- Trade debts -€291,105
down €291,105 (-65.3%), from €445,506 to €154,401
of which Suppliers: -€287,422
- Other debts -€82,500
down €82,500 (-94.9%), from €86,934 to €4,434
- Tax, wage and social debts -€15,458
down €15,458 (-12.0%), from €129,010 to €113,553
of which Remuneration and social security: -€9,582
- Gross operating margin -€215,986
down €215,986 (-45.9%), from €470,787 to €254,801
- Taxes -€58,581
down €58,581 (-57.6%), from €101,766 to €43,185
- Staff costs -€28,807
down €28,807 (-28.3%), from €101,707 to €72,900
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 | €1,157,148 | €895,279 | -€261,869 | -22.6% |
| Fixed assets | 21/28 | €38,400 | €32,310 | -€6,090 | -15.9% |
| Tangible fixed assets | 22/27 | €13,141 | €8,941 | -€4,200 | -32.0% |
| Furniture and vehicles | 24 | €13,141 | €8,941 | -€4,200 | -32.0% |
| Financial fixed assets | 28 | €25,259 | €23,369 | -€1,890 | -7.5% |
| Current assets | 29/58 | €1,118,748 | €862,969 | -€255,779 | -22.9% |
| Amounts receivable within one year | 40/41 | €721,608 | €43,379 | -€678,228 | -94.0% |
| Trade receivables | 40 | €721,608 | €34,534 | -€687,074 | -95.2% |
| Other amounts receivable | 41 | - | €8,845 | +€8,845 | |
| Cash at bank and in hand | 54/58 | €397,140 | €814,706 | +€417,566 | +105% |
| Deferred charges and accrued income | 490/1 | - | €4,884 | +€4,884 | |
| Total equity and liabilities | 10/49 | €1,157,148 | €895,279 | -€261,869 | -22.6% |
| Equity | 10/15 | €485,697 | €612,891 | +€127,194 | +26.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €13,310 | €13,310 | = | 0.0% |
| Reserves | 13 | €92,336 | €580,990 | +€488,653 | +529% |
| Non-distributable reserves | 130/1 | €17,118 | €17,118 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,259 | €15,259 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €56,468 | €545,122 | +€488,653 | +865% |
| Profit (loss) carried forward | 14 | €361,459 | €0 | -€361,459 | -100% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €661,450 | €272,387 | -€389,063 | -58.8% |
| Amounts payable within one year | 42/48 | €661,450 | €272,387 | -€389,063 | -58.8% |
| Trade debts | 44 | €445,506 | €154,401 | -€291,105 | -65.3% |
| Suppliers | 440/4 | €441,823 | €154,401 | -€287,422 | -65.1% |
| Bills of exchange payable | 441 | €3,683 | €0 | -€3,683 | -100% |
| Taxes, remuneration and social security | 45 | €129,010 | €113,553 | -€15,458 | -12.0% |
| Taxes | 450/3 | €114,042 | €108,167 | -€5,876 | -5.2% |
| Remuneration and social security | 454/9 | €14,968 | €5,386 | -€9,582 | -64.0% |
| Other amounts payable | 47/48 | €86,934 | €4,434 | -€82,500 | -94.9% |
| Remuneration, social security and pensions | 62 | €101,707 | €72,900 | -€28,807 | -28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,200 | €4,200 | = | 0.0% |
| Other operating charges | 640/8 | €3,264 | €3,005 | -€260 | -8.0% |
| Gross operating margin | 9900 | €470,787 | €254,801 | -€215,986 | -45.9% |
| Operating profit (loss) | 9901 | €361,615 | €174,697 | -€186,919 | -51.7% |
| Financial income | 75/76B | €136 | €558 | +€422 | +311% |
| Recurring financial income | 75 | €136 | €558 | +€422 | +311% |
| Financial charges | 65/66B | €1,472 | €4,875 | +€3,403 | +231% |
| Recurring financial charges | 65 | €1,472 | €4,875 | +€3,403 | +231% |
| Profit (loss) for the period before taxes | 9903 | €360,279 | €170,379 | -€189,900 | -52.7% |
| Income taxes | 67/77 | €101,766 | €43,185 | -€58,581 | -57.6% |
| Profit (loss) for the period | 9904 | €258,513 | €127,194 | -€131,319 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €258,513 | €127,194 | -€131,319 | -50.8% |
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 29 October 2026 via checked.be.