SPIDBEL: 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.
SPIDBEL
Largest movements
- Current investments -€1.4m
down €1.4m (-19.7%), from €7.0m to €5.6m
- Receivables within one year +€944,697
up €944,697 (+69.0%), from €1.4m to €2.3m
of which Other amounts receivable: +€961,197
- Financial fixed assets -€353,427
down €353,427 (-2.8%), from €12.4m to €12.1m
- Other debts -€1.5m
down €1.5m (-55.0%), from €2.7m to €1.2m
- Profit (loss) carried forward +€901,620
up €901,620 (+6.9%), from €13.1m to €14.0m
- Financial income +€275,814
up €275,814 (+24.8%), from €1.1m to €1.4m
- Financial charges -€51,703
down €51,703 (-61.4%), from €84,187 to €32,484
- Taxes -€23,703
down €23,703 (-18.6%), from €127,184 to €103,481
- Depreciation +€18,714
up €18,714 (+144%), from €13,026 to €31,740
- Gross operating margin +€7,359
up €7,359 (+4.0%), from €185,621 to €192,980
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 | €21,471,824 | €20,882,404 | -€589,420 | -2.7% |
| Fixed assets | 21/28 | €12,590,421 | €12,374,393 | -€216,029 | -1.7% |
| Tangible fixed assets | 22/27 | €183,187 | €320,585 | +€137,398 | +75.0% |
| Land and buildings | 22 | €181,414 | €199,027 | +€17,613 | +9.7% |
| Furniture and vehicles | 24 | €1,773 | €121,559 | +€119,786 | +6,756% |
| Financial fixed assets | 28 | €12,407,234 | €12,053,808 | -€353,427 | -2.8% |
| Current assets | 29/58 | €8,881,403 | €8,508,011 | -€373,392 | -4.2% |
| Amounts receivable within one year | 40/41 | €1,368,149 | €2,312,846 | +€944,697 | +69.0% |
| Trade receivables | 40 | €36,000 | €19,500 | -€16,500 | -45.8% |
| Other amounts receivable | 41 | €1,332,149 | €2,293,346 | +€961,197 | +72.2% |
| Current investments | 50/53 | €7,002,984 | €5,620,701 | -€1.4m | -19.7% |
| Cash at bank and in hand | 54/58 | €494,890 | €567,205 | +€72,316 | +14.6% |
| Deferred charges and accrued income | 490/1 | €15,381 | €7,259 | -€8,122 | -52.8% |
| Total equity and liabilities | 10/49 | €21,471,824 | €20,882,404 | -€589,420 | -2.7% |
| Equity | 10/15 | €18,747,789 | €19,649,409 | +€901,620 | +4.8% |
| Contributions | 10/11 | €4,072,292 | €4,072,292 | = | 0.0% |
| Revaluation surpluses | 12 | €51,667 | €51,667 | = | 0.0% |
| Reserves | 13 | €1,534,272 | €1,534,272 | = | 0.0% |
| Distributable reserves | 133 | €1,534,272 | €1,534,272 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,089,559 | €13,991,179 | +€901,620 | +6.9% |
| Amounts payable | 17/49 | €2,724,035 | €1,232,995 | -€1.5m | -54.7% |
| Amounts payable within one year | 42/48 | €2,724,035 | €1,232,995 | -€1.5m | -54.7% |
| Trade debts | 44 | €4,298 | €10,278 | +€5,980 | +139% |
| Suppliers | 440/4 | €4,298 | €10,278 | +€5,980 | +139% |
| Taxes, remuneration and social security | 45 | €19,113 | €7,132 | -€11,981 | -62.7% |
| Taxes | 450/3 | €19,113 | €7,132 | -€11,981 | -62.7% |
| Other amounts payable | 47/48 | €2,700,624 | €1,215,584 | -€1.5m | -55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,026 | €31,740 | +€18,714 | +144% |
| Other operating charges | 640/8 | €3,303 | €10,556 | +€7,253 | +220% |
| Gross operating margin | 9900 | €185,621 | €192,980 | +€7,359 | +4.0% |
| Operating profit (loss) | 9901 | €169,292 | €150,684 | -€18,608 | -11.0% |
| Financial income | 75/76B | €1,112,288 | €1,388,101 | +€275,814 | +24.8% |
| Recurring financial income | 75 | €1,112,288 | €1,388,101 | +€275,814 | +24.8% |
| Financial charges | 65/66B | €84,187 | €32,484 | -€51,703 | -61.4% |
| Recurring financial charges | 65 | €84,187 | €32,484 | -€51,703 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €1,197,392 | €1,506,301 | +€308,909 | +25.8% |
| Income taxes | 67/77 | €127,184 | €103,481 | -€23,703 | -18.6% |
| Profit (loss) for the period | 9904 | €1,070,209 | €1,402,820 | +€332,611 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,070,209 | €1,402,820 | +€332,611 | +31.1% |
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 16 October 2026 via checked.be.