SPHINX MERKSEM: 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 MERKSEM
Largest movements
- Cash +€10,606
up €10,606 (+10.2%), from €104,230 to €114,837
mainly Net result for the year (+€8,780) and Trade debts (+€5,303)
- Profit (loss) carried forward +€8,780
up €8,780 (+70.8%), from €12,409 to €21,189
- Trade debts +€5,303
up €5,303 (+144%), from €3,682 to €8,985
- Accrued charges and deferred income -€4,009
no longer reported in 2025 (was €4,009)
- Other operating charges -€2,656
down €2,656 (-43.8%), from €6,059 to €3,403
- Staff costs -€2,348
down €2,348 (-14.0%), from €16,792 to €14,444
- Gross operating margin +€1,238
up €1,238 (+4.1%), from €30,493 to €31,731
- Taxes +€916
up €916 (+39.6%), from €2,313 to €3,228
- Financial charges +€380
up €380 (+50.1%), from €760 to €1,140
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 | €114,676 | €124,647 | +€9,970 | +8.7% |
| Fixed assets | 21/28 | €9,268 | €8,664 | -€604 | -6.5% |
| Tangible fixed assets | 22/27 | €9,268 | €8,664 | -€604 | -6.5% |
| Land and buildings | 22 | €7,439 | €6,439 | -€1,000 | -13.4% |
| Plant, machinery and equipment | 23 | €1,605 | €2,051 | +€446 | +27.8% |
| Furniture and vehicles | 24 | €224 | €175 | -€50 | -22.1% |
| Current assets | 29/58 | €105,409 | €115,982 | +€10,574 | +10.0% |
| Amounts receivable within one year | 40/41 | €1,178 | €161 | -€1,017 | -86.3% |
| Trade receivables | 40 | €739 | - | -€739 | |
| Other amounts receivable | 41 | €439 | €161 | -€278 | -63.3% |
| Cash at bank and in hand | 54/58 | €104,230 | €114,837 | +€10,606 | +10.2% |
| Deferred charges and accrued income | 490/1 | - | €985 | +€985 | |
| Total equity and liabilities | 10/49 | €114,676 | €124,647 | +€9,970 | +8.7% |
| Equity | 10/15 | €97,043 | €105,822 | +€8,780 | +9.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €66,042 | €66,042 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €64,182 | €64,182 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,409 | €21,189 | +€8,780 | +70.8% |
| Amounts payable | 17/49 | €17,634 | €18,824 | +€1,191 | +6.8% |
| Amounts payable within one year | 42/48 | €13,625 | €18,824 | +€5,200 | +38.2% |
| Trade debts | 44 | €3,682 | €8,985 | +€5,303 | +144% |
| Suppliers | 440/4 | €3,682 | €8,985 | +€5,303 | +144% |
| Taxes, remuneration and social security | 45 | €9,942 | €9,839 | -€103 | -1.0% |
| Taxes | 450/3 | €9,942 | €8,668 | -€1,274 | -12.8% |
| Remuneration and social security | 454/9 | - | €1,171 | +€1,171 | |
| Accrued charges and deferred income | 492/3 | €4,009 | - | -€4,009 | |
| Remuneration, social security and pensions | 62 | €16,792 | €14,444 | -€2,348 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,313 | €1,305 | -€9 | -0.7% |
| Other operating charges | 640/8 | €6,059 | €3,403 | -€2,656 | -43.8% |
| Gross operating margin | 9900 | €30,493 | €31,731 | +€1,238 | +4.1% |
| Operating profit (loss) | 9901 | €6,329 | €12,580 | +€6,252 | +98.8% |
| Financial income | 75/76B | €505 | €568 | +€62 | +12.3% |
| Recurring financial income | 75 | €505 | €568 | +€62 | +12.3% |
| Financial charges | 65/66B | €760 | €1,140 | +€380 | +50.1% |
| Recurring financial charges | 65 | €760 | €1,140 | +€380 | +50.1% |
| Profit (loss) for the period before taxes | 9903 | €6,074 | €12,008 | +€5,934 | +97.7% |
| Income taxes | 67/77 | €2,313 | €3,228 | +€916 | +39.6% |
| Profit (loss) for the period | 9904 | €3,762 | €8,780 | +€5,018 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €3,762 | €8,780 | +€5,018 | +133% |
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 18 October 2026 via checked.be.