SPGL: 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.
SPGL
Largest movements
- Cash -€959,088
down €959,088 (-89.2%), from €1.1m to €115,793
mainly Current investments (-€850,000) and Other debts (-€265,197)
- Current investments +€850,000
new in 2025: €850,000
- Receivables within one year -€71,984
down €71,984 (-34.6%), from €208,274 to €136,291
of which Trade receivables: -€88,919
- Other debts -€265,197
down €265,197 (-25.7%), from €1.0m to €766,755
- Profit (loss) carried forward +€105,330
up €105,330 (+86.3%), from €122,074 to €227,404
- Tax, wage and social debts -€38,963
down €38,963 (-91.2%), from €42,709 to €3,746
- Trade debts +€15,480
up €15,480 (+18.2%), from €84,843 to €100,324
- Gross operating margin -€76,421
down €76,421 (-39.1%), from €195,238 to €118,817
- Financial income +€13,353
up €13,353 (+142%), from €9,378 to €22,731
- Taxes -€9,262
down €9,262 (-20.8%), from €44,569 to €35,307
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 | €1,287,779 | €1,104,428 | -€183,351 | -14.2% |
| Fixed assets | 21/28 | €407 | €0 | -€407 | -100% |
| Tangible fixed assets | 22/27 | €407 | €0 | -€407 | -100% |
| Furniture and vehicles | 24 | €407 | €0 | -€407 | -100% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,287,372 | €1,104,428 | -€182,944 | -14.2% |
| Amounts receivable within one year | 40/41 | €208,274 | €136,291 | -€71,984 | -34.6% |
| Trade receivables | 40 | €208,072 | €119,153 | -€88,919 | -42.7% |
| Other amounts receivable | 41 | €202 | €17,138 | +€16,936 | +8,369% |
| Current investments | 50/53 | - | €850,000 | +€850,000 | |
| Cash at bank and in hand | 54/58 | €1,074,880 | €115,793 | -€959,088 | -89.2% |
| Deferred charges and accrued income | 490/1 | €4,218 | €2,345 | -€1,873 | -44.4% |
| Total equity and liabilities | 10/49 | €1,287,779 | €1,104,428 | -€183,351 | -14.2% |
| Equity | 10/15 | €128,274 | €233,604 | +€105,330 | +82.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,074 | €227,404 | +€105,330 | +86.3% |
| Amounts payable | 17/49 | €1,159,505 | €870,825 | -€288,680 | -24.9% |
| Amounts payable within one year | 42/48 | €1,159,505 | €870,825 | -€288,680 | -24.9% |
| Trade debts | 44 | €84,843 | €100,324 | +€15,480 | +18.2% |
| Suppliers | 440/4 | €84,843 | €100,324 | +€15,480 | +18.2% |
| Taxes, remuneration and social security | 45 | €42,709 | €3,746 | -€38,963 | -91.2% |
| Taxes | 450/3 | €42,709 | €3,746 | -€38,963 | -91.2% |
| Other amounts payable | 47/48 | €1,031,952 | €766,755 | -€265,197 | -25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,213 | €407 | -€806 | -66.5% |
| Other operating charges | 640/8 | €109 | €451 | +€342 | +313% |
| Gross operating margin | 9900 | €195,238 | €118,817 | -€76,421 | -39.1% |
| Operating profit (loss) | 9901 | €193,916 | €117,960 | -€75,956 | -39.2% |
| Financial income | 75/76B | €9,378 | €22,731 | +€13,353 | +142% |
| Recurring financial income | 75 | €9,378 | €22,731 | +€13,353 | +142% |
| Financial charges | 65/66B | €50 | €54 | +€4 | +8.4% |
| Recurring financial charges | 65 | €50 | €54 | +€4 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €203,244 | €140,637 | -€62,607 | -30.8% |
| Income taxes | 67/77 | €44,569 | €35,307 | -€9,262 | -20.8% |
| Profit (loss) for the period | 9904 | €158,674 | €105,330 | -€53,345 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €158,674 | €105,330 | -€53,345 | -33.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.