Sphinx Experts: 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.
Sphinx Experts
Largest movements
- Cash +€24,473
up €24,473 (+283%), from €8,652 to €33,125
mainly Net result for the year (+€66,626) and Depreciation (+€9,478)
- Tangible fixed assets -€9,478
down €9,478 (-8.7%), from €108,720 to €99,243
of which Land and buildings: -€7,805
- Receivables within one year -€7,970
down €7,970 (-87.9%), from €9,065 to €1,094
- Profit (loss) carried forward +€66,626
up €66,626 (+56.6%), from -€117,767 to -€51,141
- Other debts -€52,990
down €52,990 (-87.1%), from €60,845 to €7,855
- Trade debts -€6,882
down €6,882 (-88.8%), from €7,751 to €869
- Tax, wage and social debts +€6,200
up €6,200 (+174%), from €3,566 to €9,766
- Debts after one year -€6,077
down €6,077 (-4.1%), from €149,033 to €142,957
- Gross operating margin +€82,677
up €82,677 (+5,998%), from €1,379 to €84,055
- Other operating charges +€1,101
up €1,101 (+25.8%), from €4,269 to €5,370
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 | €128,186 | €135,220 | +€7,034 | +5.5% |
| Fixed assets | 21/28 | €108,720 | €99,243 | -€9,478 | -8.7% |
| Tangible fixed assets | 22/27 | €108,720 | €99,243 | -€9,478 | -8.7% |
| Land and buildings | 22 | €96,098 | €88,293 | -€7,805 | -8.1% |
| Plant, machinery and equipment | 23 | €3,575 | €3,116 | -€459 | -12.8% |
| Furniture and vehicles | 24 | €9,047 | €7,833 | -€1,214 | -13.4% |
| Current assets | 29/58 | €19,466 | €35,977 | +€16,511 | +84.8% |
| Amounts receivable within one year | 40/41 | €9,065 | €1,094 | -€7,970 | -87.9% |
| Trade receivables | 40 | €9,065 | €1,094 | -€7,970 | -87.9% |
| Cash at bank and in hand | 54/58 | €8,652 | €33,125 | +€24,473 | +283% |
| Deferred charges and accrued income | 490/1 | €1,750 | €1,758 | +€8 | +0.5% |
| Total equity and liabilities | 10/49 | €128,186 | €135,220 | +€7,034 | +5.5% |
| Equity | 10/15 | -€98,930 | -€32,304 | +€66,626 | +67.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €236 | €236 | = | 0.0% |
| Distributable reserves | 133 | €236 | €236 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,767 | -€51,141 | +€66,626 | +56.6% |
| Amounts payable | 17/49 | €227,117 | €167,524 | -€59,592 | -26.2% |
| Amounts payable after more than one year | 17 | €149,033 | €142,957 | -€6,077 | -4.1% |
| Financial debts | 170/4 | €149,033 | €142,957 | -€6,077 | -4.1% |
| Amounts payable within one year | 42/48 | €78,083 | €24,567 | -€53,516 | -68.5% |
| Current portion of amounts payable after more than one year | 42 | €5,921 | €6,077 | +€156 | +2.6% |
| Trade debts | 44 | €7,751 | €869 | -€6,882 | -88.8% |
| Suppliers | 440/4 | €7,751 | €869 | -€6,882 | -88.8% |
| Taxes, remuneration and social security | 45 | €3,566 | €9,766 | +€6,200 | +174% |
| Taxes | 450/3 | €3,566 | €9,766 | +€6,200 | +174% |
| Other amounts payable | 47/48 | €60,845 | €7,855 | -€52,990 | -87.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,478 | €9,478 | = | 0.0% |
| Other operating charges | 640/8 | €4,269 | €5,370 | +€1,101 | +25.8% |
| Gross operating margin | 9900 | €1,379 | €84,055 | +€82,677 | +5,998% |
| Operating profit (loss) | 9901 | -€12,368 | €69,208 | +€81,576 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.7% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.7% |
| Financial charges | 65/66B | €2,519 | €2,330 | -€190 | -7.5% |
| Recurring financial charges | 65 | €2,519 | €2,330 | -€190 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,884 | €66,878 | +€81,762 | |
| Income taxes | 67/77 | €244 | €252 | +€8 | +3.4% |
| Profit (loss) for the period | 9904 | -€15,128 | €66,626 | +€81,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,128 | €66,626 | +€81,754 |
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 15 October 2026 via checked.be.