SPES: 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.
SPES
Largest movements
- Cash -€21,719
down €21,719 (-41.4%), from €52,402 to €30,683
mainly Investment in fixed assets (net) (-€48,855) and Debts after one year (-€16,843)
- Debts after one year -€16,843
no longer reported in 2025 (was €16,843)
- Trade debts +€12,521
up €12,521 (+1565.1%), from €800 to €13,321
- Profit (loss) carried forward +€12,100
up €12,100 (+52.7%), from -€22,971 to -€10,871
- Other debts -€10,202
down €10,202 (-1.2%), from €829,807 to €819,605
- Gross operating margin +€11,083
up €11,083 (+18.8%), from €58,895 to €69,979
- Financial income +€5,443
up €5,443 (+2768.5%), from €197 to €5,640
- Financial charges +€2,747
up €2,747 (+368.6%), from €745 to €3,492
- Depreciation -€1,936
down €1,936 (-3.7%), from €52,811 to €50,875
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 | €1,019,556 | €1,005,749 | -€13,807 | -1.4% |
| Fixed assets | 21/28 | €861,475 | €859,454 | -€2,021 | -0.2% |
| Tangible fixed assets | 22/27 | €861,475 | €859,454 | -€2,021 | -0.2% |
| Land and buildings | 22 | €851,842 | €852,483 | +€640 | +0.1% |
| Plant, machinery and equipment | 23 | €2,970 | €2,292 | -€679 | -22.9% |
| Furniture and vehicles | 24 | €6,662 | €4,680 | -€1,982 | -29.8% |
| Current assets | 29/58 | €158,082 | €146,295 | -€11,786 | -7.5% |
| Amounts receivable within one year | 40/41 | €59 | €47 | -€12 | -20.9% |
| Other amounts receivable | 41 | €59 | €47 | -€12 | -20.9% |
| Current investments | 50/53 | €102,124 | €104,693 | +€2,569 | +2.5% |
| Cash at bank and in hand | 54/58 | €52,402 | €30,683 | -€21,719 | -41.4% |
| Deferred charges and accrued income | 490/1 | €3,496 | €10,872 | +€7,376 | +211.0% |
| Total equity and liabilities | 10/49 | €1,019,556 | €1,005,749 | -€13,807 | -1.4% |
| Equity | 10/15 | €127,067 | €136,179 | +€9,111 | +7.2% |
| Contributions | 10/11 | €68,315 | €68,315 | = | 0.0% |
| Capital | 10 | €68,315 | €68,315 | = | 0.0% |
| Issued capital | 100 | €68,315 | €68,315 | = | 0.0% |
| Reserves | 13 | €81,724 | €78,735 | -€2,989 | -3.7% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Legal reserve | 130 | €19,831 | €19,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €59,842 | €56,853 | -€2,989 | -5.0% |
| Distributable reserves | 133 | €2,050 | €2,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,971 | -€10,871 | +€12,100 | +52.7% |
| Provisions and deferred taxes | 16 | €19,913 | €18,917 | -€996 | -5.0% |
| Deferred taxes | 168 | €19,913 | €18,917 | -€996 | -5.0% |
| Amounts payable | 17/49 | €872,575 | €850,654 | -€21,922 | -2.5% |
| Amounts payable after more than one year | 17 | €16,843 | - | -€16,843 | |
| Financial debts | 170/4 | €16,843 | - | -€16,843 | |
| Amounts payable within one year | 42/48 | €855,732 | €849,854 | -€5,879 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €25,125 | €16,928 | -€8,197 | -32.6% |
| Trade debts | 44 | €800 | €13,321 | +€12,521 | +1565.1% |
| Suppliers | 440/4 | €800 | €13,321 | +€12,521 | +1565.1% |
| Other amounts payable | 47/48 | €829,807 | €819,605 | -€10,202 | -1.2% |
| Accrued charges and deferred income | 492/3 | - | €800 | +€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,811 | €50,875 | -€1,936 | -3.7% |
| Other operating charges | 640/8 | €12,436 | €13,136 | +€700 | +5.6% |
| Gross operating margin | 9900 | €58,895 | €69,979 | +€11,083 | +18.8% |
| Operating profit (loss) | 9901 | -€6,352 | €5,967 | +€12,319 | |
| Financial income | 75/76B | €197 | €5,640 | +€5,443 | +2768.5% |
| Recurring financial income | 75 | €197 | €5,640 | +€5,443 | +2768.5% |
| Financial charges | 65/66B | €745 | €3,492 | +€2,747 | +368.6% |
| Recurring financial charges | 65 | €745 | €3,492 | +€2,747 | +368.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,901 | €8,115 | +€15,015 | |
| Transfer from deferred taxes | 780 | €996 | €996 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€5,904 | €9,111 | +€15,015 | |
| Transfer from tax-exempt reserves | 789 | €2,989 | €2,989 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,915 | €12,100 | +€15,015 |
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 6 October 2026 via checked.be.