SPHERA PROJECTS: 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.
SPHERA PROJECTS
Largest movements
- Receivables within one year -€16,471
down €16,471 (-34.4%), from €47,878 to €31,406
of which Trade receivables: -€27,705
- Tangible fixed assets -€8,606
down €8,606 (-50.3%), from €17,094 to €8,489
- Cash +€6,872
up €6,872 (+561.5%), from €1,224 to €8,096
mainly Receivables within one year (+€16,471) and Depreciation (+€8,606)
- Trade debts -€8,919
down €8,919 (-96.0%), from €9,286 to €368
- Profit (loss) carried forward -€6,261
new in 2025: -€6,261
- Other debts -€3,484
no longer reported in 2025 (was €3,484)
- Other operating charges +€11,475
new in 2025: €11,475
- Gross operating margin -€7,771
down €7,771 (-29.1%), from €26,720 to €18,949
- Taxes -€2,575
down €2,575 (-29.9%), from €8,615 to €6,040
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 | €66,742 | €48,369 | -€18,373 | -27.5% |
| Fixed assets | 21/28 | €17,472 | €8,867 | -€8,606 | -49.3% |
| Tangible fixed assets | 22/27 | €17,094 | €8,489 | -€8,606 | -50.3% |
| Furniture and vehicles | 24 | €17,094 | €8,489 | -€8,606 | -50.3% |
| Financial fixed assets | 28 | €378 | €378 | = | 0.0% |
| Current assets | 29/58 | €49,269 | €39,502 | -€9,767 | -19.8% |
| Amounts receivable within one year | 40/41 | €47,878 | €31,406 | -€16,471 | -34.4% |
| Trade receivables | 40 | €30,446 | €2,741 | -€27,705 | -91.0% |
| Other amounts receivable | 41 | €17,432 | €28,666 | +€11,234 | +64.4% |
| Cash at bank and in hand | 54/58 | €1,224 | €8,096 | +€6,872 | +561.5% |
| Deferred charges and accrued income | 490/1 | €168 | - | -€168 | |
| Total equity and liabilities | 10/49 | €66,742 | €48,369 | -€18,373 | -27.5% |
| Equity | 10/15 | €39,608 | €33,347 | -€6,261 | -15.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €14,608 | €14,608 | = | 0.0% |
| Distributable reserves | 133 | €14,608 | €14,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,261 | -€6,261 | |
| Amounts payable | 17/49 | €27,134 | €15,022 | -€12,111 | -44.6% |
| Amounts payable within one year | 42/48 | €27,134 | €15,022 | -€12,111 | -44.6% |
| Financial debts | 43 | €4 | - | -€4 | |
| Credit institutions | 430/8 | €4 | - | -€4 | |
| Trade debts | 44 | €9,286 | €368 | -€8,919 | -96.0% |
| Suppliers | 440/4 | €9,286 | €368 | -€8,919 | -96.0% |
| Taxes, remuneration and social security | 45 | €14,359 | €14,655 | +€296 | +2.1% |
| Taxes | 450/3 | €14,359 | €14,655 | +€296 | +2.1% |
| Other amounts payable | 47/48 | €3,484 | - | -€3,484 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,561 | €8,606 | +€45 | +0.5% |
| Other operating charges | 640/8 | - | €11,475 | +€11,475 | |
| Gross operating margin | 9900 | €26,720 | €18,949 | -€7,771 | -29.1% |
| Operating profit (loss) | 9901 | €18,160 | -€1,132 | -€19,291 | |
| Financial income | 75/76B | €1,126 | €1,216 | +€90 | +8.0% |
| Recurring financial income | 75 | €1,126 | €1,216 | +€90 | +8.0% |
| Financial charges | 65/66B | €286 | €306 | +€20 | +7.0% |
| Recurring financial charges | 65 | €286 | €306 | +€20 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €19,000 | -€221 | -€19,222 | |
| Income taxes | 67/77 | €8,615 | €6,040 | -€2,575 | -29.9% |
| Profit (loss) for the period | 9904 | €10,385 | -€6,261 | -€16,647 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,385 | -€6,261 | -€16,647 |
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 30 September 2026 via checked.be.