SPG: 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.
SPG
Largest movements
- Stocks and contracts +€73,955
new in 2025: €73,955
- Tangible fixed assets +€24,977
up €24,977 (+56.7%), from €44,063 to €69,040
of which Furniture and vehicles: +€25,808
- Current investments +€9,589
up €9,589 (+214.3%), from €4,475 to €14,064
- Receivables within one year +€2,975
up €2,975 (+4.9%), from €60,189 to €63,165
of which Trade receivables: +€8,340
- Other debts +€100,869
up €100,869 (+1592.0%), from €6,336 to €107,205
- Trade debts +€14,865
up €14,865 (+58.5%), from €25,400 to €40,266
- Profit (loss) carried forward +€5,117
up €5,117 (+17.2%), from €29,743 to €34,860
- Debts after one year -€4,567
down €4,567 (-23.9%), from €19,081 to €14,514
- Tax, wage and social debts -€2,907
down €2,907 (-39.3%), from €7,405 to €4,498
of which Taxes: -€6,957
- Depreciation +€8,866
up €8,866 (+65.2%), from €13,591 to €22,457
- Gross operating margin +€4,777
up €4,777 (+15.4%), from €30,930 to €35,707
- Financial charges +€2,377
up €2,377 (+362.5%), from €656 to €3,033
- Taxes -€2,283
down €2,283 (-90.7%), from €2,519 to €235
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 | €110,001 | €223,377 | +€113,376 | +103.1% |
| Fixed assets | 21/28 | €44,063 | €69,040 | +€24,977 | +56.7% |
| Tangible fixed assets | 22/27 | €44,063 | €69,040 | +€24,977 | +56.7% |
| Plant, machinery and equipment | 23 | €2,142 | €1,311 | -€831 | -38.8% |
| Furniture and vehicles | 24 | €41,921 | €67,729 | +€25,808 | +61.6% |
| Current assets | 29/58 | €65,938 | €154,337 | +€88,399 | +134.1% |
| Stocks and contracts in progress | 3 | - | €73,955 | +€73,955 | |
| Contracts in progress | 37 | - | €73,955 | +€73,955 | |
| Amounts receivable within one year | 40/41 | €60,189 | €63,165 | +€2,975 | +4.9% |
| Trade receivables | 40 | €50,475 | €58,815 | +€8,340 | +16.5% |
| Other amounts receivable | 41 | €9,714 | €4,350 | -€5,365 | -55.2% |
| Current investments | 50/53 | €4,475 | €14,064 | +€9,589 | +214.3% |
| Cash at bank and in hand | 54/58 | €30 | - | -€30 | |
| Deferred charges and accrued income | 490/1 | €1,243 | €3,154 | +€1,911 | +153.7% |
| Total equity and liabilities | 10/49 | €110,001 | €223,377 | +€113,376 | +103.1% |
| Equity | 10/15 | €50,203 | €55,320 | +€5,117 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,743 | €34,860 | +€5,117 | +17.2% |
| Amounts payable | 17/49 | €59,798 | €168,057 | +€108,259 | +181.0% |
| Amounts payable after more than one year | 17 | €19,081 | €14,514 | -€4,567 | -23.9% |
| Financial debts | 170/4 | €19,081 | €14,514 | -€4,567 | -23.9% |
| Amounts payable within one year | 42/48 | €40,717 | €153,543 | +€112,826 | +277.1% |
| Current portion of amounts payable after more than one year | 42 | €1,575 | €1,575 | = | 0.0% |
| Trade debts | 44 | €25,400 | €40,266 | +€14,865 | +58.5% |
| Suppliers | 440/4 | €25,400 | €40,266 | +€14,865 | +58.5% |
| Taxes, remuneration and social security | 45 | €7,405 | €4,498 | -€2,907 | -39.3% |
| Taxes | 450/3 | €7,405 | €448 | -€6,957 | -93.9% |
| Remuneration and social security | 454/9 | - | €4,050 | +€4,050 | |
| Other amounts payable | 47/48 | €6,336 | €107,205 | +€100,869 | +1592.0% |
| Remuneration, social security and pensions | 62 | €53 | - | -€53 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,591 | €22,457 | +€8,866 | +65.2% |
| Other operating charges | 640/8 | €5,201 | €4,918 | -€283 | -5.4% |
| Gross operating margin | 9900 | €30,930 | €35,707 | +€4,777 | +15.4% |
| Operating profit (loss) | 9901 | €12,085 | €8,332 | -€3,753 | -31.1% |
| Financial income | 75/76B | €183 | €53 | -€130 | -70.9% |
| Recurring financial income | 75 | €183 | €53 | -€130 | -70.9% |
| Financial charges | 65/66B | €656 | €3,033 | +€2,377 | +362.5% |
| Recurring financial charges | 65 | €656 | €3,033 | +€2,377 | +362.5% |
| Profit (loss) for the period before taxes | 9903 | €11,612 | €5,352 | -€6,260 | -53.9% |
| Income taxes | 67/77 | €2,519 | €235 | -€2,283 | -90.7% |
| Profit (loss) for the period | 9904 | €9,093 | €5,117 | -€3,977 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,093 | €5,117 | -€3,977 | -43.7% |
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 10 October 2026 via checked.be.