SPH Ventures: 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.
SPH Ventures
Largest movements
- Receivables within one year -€7,014
down €7,014 (-87.9%), from €7,982 to €969
of which Trade receivables: -€7,982
- Tangible fixed assets -€644
down €644 (-26.6%), from €2,419 to €1,775
- Cash +€269
up €269 (+83.8%), from €321 to €590
mainly Receivables within one year (+€7,014) and Accrued charges and deferred income (+€1,330)
- Tax, wage and social debts -€4,551
down €4,551 (-98.7%), from €4,611 to €61
- Other debts -€4,300
down €4,300 (-98.2%), from €4,378 to €78
- Accrued charges and deferred income +€1,330
new in 2025: €1,330
- Profit (loss) carried forward +€296
up €296 (+35.7%), from -€828 to -€532
- Trade debts -€162
down €162 (-29.0%), from €561 to €398
- Financial charges -€1,783
down €1,783 (-94.8%), from €1,881 to €98
- Gross operating margin -€835
down €835 (-43.2%), from €1,933 to €1,098
- Depreciation -€155
down €155 (-19.4%), from €799 to €644
- Other operating charges -€81
no longer reported in 2025 (was €81)
- Taxes +€61
new in 2025: €61
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 | €10,723 | €3,335 | -€7,388 | -68.9% |
| Fixed assets | 21/28 | €2,419 | €1,775 | -€644 | -26.6% |
| Tangible fixed assets | 22/27 | €2,419 | €1,775 | -€644 | -26.6% |
| Furniture and vehicles | 24 | €2,419 | €1,775 | -€644 | -26.6% |
| Current assets | 29/58 | €8,304 | €1,559 | -€6,744 | -81.2% |
| Amounts receivable within one year | 40/41 | €7,982 | €969 | -€7,014 | -87.9% |
| Trade receivables | 40 | €7,982 | - | -€7,982 | |
| Other amounts receivable | 41 | - | €969 | +€969 | |
| Cash at bank and in hand | 54/58 | €321 | €590 | +€269 | +83.8% |
| Total equity and liabilities | 10/49 | €10,723 | €3,335 | -€7,388 | -68.9% |
| Equity | 10/15 | €1,172 | €1,468 | +€296 | +25.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€828 | -€532 | +€296 | +35.7% |
| Amounts payable | 17/49 | €9,550 | €1,866 | -€7,684 | -80.5% |
| Amounts payable within one year | 42/48 | €9,550 | €537 | -€9,013 | -94.4% |
| Trade debts | 44 | €561 | €398 | -€162 | -29.0% |
| Suppliers | 440/4 | €561 | €398 | -€162 | -29.0% |
| Taxes, remuneration and social security | 45 | €4,611 | €61 | -€4,551 | -98.7% |
| Taxes | 450/3 | €4,611 | €61 | -€4,551 | -98.7% |
| Other amounts payable | 47/48 | €4,378 | €78 | -€4,300 | -98.2% |
| Accrued charges and deferred income | 492/3 | - | €1,330 | +€1,330 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €799 | €644 | -€155 | -19.4% |
| Other operating charges | 640/8 | €81 | - | -€81 | |
| Gross operating margin | 9900 | €1,933 | €1,098 | -€835 | -43.2% |
| Operating profit (loss) | 9901 | €1,053 | €455 | -€599 | -56.8% |
| Financial charges | 65/66B | €1,881 | €98 | -€1,783 | -94.8% |
| Recurring financial charges | 65 | €1,881 | €98 | -€1,783 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | -€828 | €356 | +€1,184 | |
| Income taxes | 67/77 | - | €61 | +€61 | |
| Profit (loss) for the period | 9904 | -€828 | €296 | +€1,123 | |
| Profit (loss) for the period to be appropriated | 9905 | -€828 | €296 | +€1,123 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.