SPIDERWEB: 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.
SPIDERWEB
Largest movements
- Receivables after one year +€536,307
up €536,307 (+1761.1%), from €30,453 to €566,760
- Receivables within one year -€193,614
down €193,614 (-72.8%), from €265,873 to €72,259
of which Trade receivables: -€176,300
- Tangible fixed assets -€133,471
down €133,471 (-3.0%), from €4.5m to €4.3m
of which Land and buildings: -€112,703
- Cash +€106,442
up €106,442 (+357.9%), from €29,742 to €136,184
mainly Debts after one year (+€533,980) and Receivables within one year (+€193,614)
- Debts after one year +€533,980
up €533,980 (+11.2%), from €4.8m to €5.3m
of which Other amounts payable: +€533,980
- Profit (loss) carried forward -€154,133
down €154,133 (-41.5%), from -€371,320 to -€525,453
- Write-downs +€124,745
new in 2025: €124,745
- Gross operating margin -€17,868
down €17,868 (-14.9%), from €120,020 to €102,153
- Financial income +€9,533
up €9,533 (+812.4%), from €1,173 to €10,706
- Depreciation -€4,528
down €4,528 (-3.2%), from €140,060 to €135,532
- Other operating charges -€2,352
down €2,352 (-28.6%), from €8,224 to €5,871
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 | €4,870,722 | €5,222,917 | +€352,195 | +7.2% |
| Fixed assets | 21/28 | €4,474,630 | €4,375,203 | -€99,427 | -2.2% |
| Tangible fixed assets | 22/27 | €4,474,130 | €4,340,658 | -€133,471 | -3.0% |
| Land and buildings | 22 | €4,387,138 | €4,274,434 | -€112,703 | -2.6% |
| Plant, machinery and equipment | 23 | €1,227 | €296 | -€932 | -75.9% |
| Furniture and vehicles | 24 | €85,765 | €65,928 | -€19,836 | -23.1% |
| Financial fixed assets | 28 | €500 | €34,545 | +€34,045 | +6808.9% |
| Current assets | 29/58 | €396,092 | €847,714 | +€451,622 | +114.0% |
| Amounts receivable after more than one year | 29 | €30,453 | €566,760 | +€536,307 | +1761.1% |
| Other amounts receivable | 291 | €30,453 | €566,760 | +€536,307 | +1761.1% |
| Amounts receivable within one year | 40/41 | €265,873 | €72,259 | -€193,614 | -72.8% |
| Trade receivables | 40 | €221,568 | €45,268 | -€176,300 | -79.6% |
| Other amounts receivable | 41 | €44,305 | €26,991 | -€17,314 | -39.1% |
| Current investments | 50/53 | €62,500 | €65,000 | +€2,500 | +4.0% |
| Cash at bank and in hand | 54/58 | €29,742 | €136,184 | +€106,442 | +357.9% |
| Deferred charges and accrued income | 490/1 | €7,523 | €7,511 | -€13 | -0.2% |
| Total equity and liabilities | 10/49 | €4,870,722 | €5,222,917 | +€352,195 | +7.2% |
| Equity | 10/15 | €6,308 | -€147,825 | -€154,133 | |
| Contributions | 10/11 | €368,600 | €368,600 | = | 0.0% |
| Reserves | 13 | €9,029 | €9,029 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,198 | €3,198 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,198 | €3,198 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,830 | €5,830 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€371,320 | -€525,453 | -€154,133 | -41.5% |
| Amounts payable | 17/49 | €4,864,413 | €5,370,742 | +€506,328 | +10.4% |
| Amounts payable after more than one year | 17 | €4,764,337 | €5,298,317 | +€533,980 | +11.2% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €4,764,337 | €5,298,317 | +€533,980 | +11.2% |
| Amounts payable within one year | 42/48 | €97,973 | €70,358 | -€27,615 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €63,761 | €26,020 | -€37,741 | -59.2% |
| Trade debts | 44 | €17,242 | €22,591 | +€5,350 | +31.0% |
| Suppliers | 440/4 | €17,242 | €22,591 | +€5,350 | +31.0% |
| Taxes, remuneration and social security | 45 | €7,333 | €6,433 | -€900 | -12.3% |
| Taxes | 450/3 | €7,333 | €6,433 | -€900 | -12.3% |
| Other amounts payable | 47/48 | €9,637 | €15,313 | +€5,676 | +58.9% |
| Accrued charges and deferred income | 492/3 | €2,104 | €2,067 | -€37 | -1.7% |
| Non-recurring operating income | 76A | €60,680 | €0 | -€60,680 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,060 | €135,532 | -€4,528 | -3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €124,745 | +€124,745 | |
| Other operating charges | 640/8 | €8,224 | €5,871 | -€2,352 | -28.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €120,020 | €102,153 | -€17,868 | -14.9% |
| Operating profit (loss) | 9901 | -€28,263 | -€163,996 | -€135,732 | -480.2% |
| Financial income | 75/76B | €1,173 | €10,706 | +€9,533 | +812.4% |
| Recurring financial income | 75 | €1,173 | €10,706 | +€9,533 | +812.4% |
| Financial charges | 65/66B | €1,478 | €295 | -€1,183 | -80.0% |
| Recurring financial charges | 65 | €1,478 | €295 | -€1,183 | -80.0% |
| Profit (loss) for the period before taxes | 9903 | -€28,568 | -€153,584 | -€125,017 | -437.6% |
| Income taxes | 67/77 | €462 | €549 | +€87 | +18.8% |
| Profit (loss) for the period | 9904 | -€29,030 | -€154,133 | -€125,103 | -431.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,030 | -€154,133 | -€125,103 | -431.0% |
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 1 October 2026 via checked.be.