SPERWERNEST: 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.
SPERWERNEST
Largest movements
- Cash -€23,094
down €23,094 (-52.2%), from €44,254 to €21,160
mainly Trade debts (-€27,662) and Net result for the year (-€12,289)
- Tangible fixed assets -€22,801
down €22,801 (-2.3%), from €1.0m to €977,248
of which Land and buildings: -€24,564
- Trade debts -€27,662
down €27,662 (-90.3%), from €30,627 to €2,965
- Profit (loss) carried forward -€12,289
down €12,289 (-27.8%), from -€44,170 to -€56,459
- Gross operating margin -€1,813
down €1,813 (-6.9%), from €26,248 to €24,435
- Depreciation +€1,026
up €1,026 (+3.2%), from €32,038 to €33,064
- Taxes +€389
new in 2025: €389
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 | €1,048,745 | €1,003,257 | -€45,488 | -4.3% |
| Fixed assets | 21/28 | €1,000,049 | €977,248 | -€22,801 | -2.3% |
| Tangible fixed assets | 22/27 | €1,000,049 | €977,248 | -€22,801 | -2.3% |
| Land and buildings | 22 | €962,633 | €938,068 | -€24,564 | -2.6% |
| Plant, machinery and equipment | 23 | €30,929 | €33,504 | +€2,574 | +8.3% |
| Furniture and vehicles | 24 | €6,488 | €5,677 | -€811 | -12.5% |
| Current assets | 29/58 | €48,696 | €26,009 | -€22,687 | -46.6% |
| Amounts receivable within one year | 40/41 | €4,258 | €4,628 | +€370 | +8.7% |
| Trade receivables | 40 | €4,258 | €4,628 | +€370 | +8.7% |
| Cash at bank and in hand | 54/58 | €44,254 | €21,160 | -€23,094 | -52.2% |
| Deferred charges and accrued income | 490/1 | €184 | €220 | +€36 | +19.6% |
| Total equity and liabilities | 10/49 | €1,048,745 | €1,003,257 | -€45,488 | -4.3% |
| Equity | 10/15 | €755,830 | €743,541 | -€12,289 | -1.6% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,170 | -€56,459 | -€12,289 | -27.8% |
| Amounts payable | 17/49 | €292,915 | €259,716 | -€33,199 | -11.3% |
| Amounts payable after more than one year | 17 | €242,201 | €237,559 | -€4,642 | -1.9% |
| Financial debts | 170/4 | €239,027 | €234,835 | -€4,192 | -1.8% |
| Other amounts payable | 178/9 | €3,174 | €2,724 | -€450 | -14.2% |
| Amounts payable within one year | 42/48 | €49,614 | €22,157 | -€27,457 | -55.3% |
| Current portion of amounts payable after more than one year | 42 | €18,987 | €19,192 | +€204 | +1.1% |
| Trade debts | 44 | €30,627 | €2,965 | -€27,662 | -90.3% |
| Suppliers | 440/4 | €30,627 | €2,965 | -€27,662 | -90.3% |
| Accrued charges and deferred income | 492/3 | €1,100 | - | -€1,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,038 | €33,064 | +€1,026 | +3.2% |
| Other operating charges | 640/8 | €102 | €354 | +€252 | +247% |
| Gross operating margin | 9900 | €26,248 | €24,435 | -€1,813 | -6.9% |
| Operating profit (loss) | 9901 | -€5,892 | -€8,983 | -€3,091 | -52.5% |
| Financial income | 75/76B | €5 | €18 | +€13 | +253% |
| Recurring financial income | 75 | €5 | €18 | +€13 | +253% |
| Financial charges | 65/66B | €3,105 | €2,934 | -€171 | -5.5% |
| Recurring financial charges | 65 | €3,105 | €2,934 | -€171 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,992 | -€11,900 | -€2,908 | -32.3% |
| Income taxes | 67/77 | - | €389 | +€389 | |
| Profit (loss) for the period | 9904 | -€8,992 | -€12,289 | -€3,297 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,992 | -€12,289 | -€3,297 | -36.7% |
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 18 October 2026 via checked.be.