SPIENOZA: 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.
SPIENOZA
Largest movements
- Cash -€100,696
down €100,696 (-91.7%), from €109,869 to €9,173
mainly Contributions, distributions and other (-€137,937) and Receivables within one year (-€45,320)
- Receivables within one year +€45,320
up €45,320 (+65.9%), from €68,784 to €114,104
of which Trade receivables: +€88,647
- Tangible fixed assets +€9,063
up €9,063 (+23.7%), from €38,202 to €47,264
of which Land and buildings: +€8,724
- Reserves -€21,939
down €21,939 (-15.5%), from €141,219 to €119,280
- Trade debts -€19,344
down €19,344 (-98.4%), from €19,659 to €315
- Tax, wage and social debts -€5,030
down €5,030 (-10.1%), from €49,977 to €44,947
- Gross operating margin +€11,700
up €11,700 (+7.9%), from €148,839 to €160,539
- Depreciation +€4,372
up €4,372 (+88.5%), from €4,942 to €9,314
- Taxes +€3,149
up €3,149 (+10.0%), from €31,387 to €34,537
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 | €216,854 | €170,542 | -€46,313 | -21.4% |
| Fixed assets | 21/28 | €38,202 | €47,264 | +€9,063 | +23.7% |
| Tangible fixed assets | 22/27 | €38,202 | €47,264 | +€9,063 | +23.7% |
| Land and buildings | 22 | €14,665 | €23,389 | +€8,724 | +59.5% |
| Plant, machinery and equipment | 23 | €6,359 | €10,456 | +€4,096 | +64.4% |
| Furniture and vehicles | 24 | €17,177 | €13,420 | -€3,757 | -21.9% |
| Current assets | 29/58 | €178,653 | €123,277 | -€55,375 | -31.0% |
| Amounts receivable within one year | 40/41 | €68,784 | €114,104 | +€45,320 | +65.9% |
| Trade receivables | 40 | €2,406 | €91,053 | +€88,647 | +3,685% |
| Other amounts receivable | 41 | €66,378 | €23,052 | -€43,326 | -65.3% |
| Cash at bank and in hand | 54/58 | €109,869 | €9,173 | -€100,696 | -91.7% |
| Total equity and liabilities | 10/49 | €216,854 | €170,542 | -€46,313 | -21.4% |
| Equity | 10/15 | €147,219 | €125,280 | -€21,939 | -14.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €141,219 | €119,280 | -€21,939 | -15.5% |
| Distributable reserves | 133 | €141,219 | €119,280 | -€21,939 | -15.5% |
| Amounts payable | 17/49 | €69,636 | €45,262 | -€24,374 | -35.0% |
| Amounts payable within one year | 42/48 | €69,636 | €45,262 | -€24,374 | -35.0% |
| Trade debts | 44 | €19,659 | €315 | -€19,344 | -98.4% |
| Suppliers | 440/4 | €19,659 | €315 | -€19,344 | -98.4% |
| Taxes, remuneration and social security | 45 | €49,977 | €44,947 | -€5,030 | -10.1% |
| Taxes | 450/3 | €49,977 | €44,947 | -€5,030 | -10.1% |
| Remuneration, social security and pensions | 62 | €1,490 | - | -€1,490 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,942 | €9,314 | +€4,372 | +88.5% |
| Other operating charges | 640/8 | - | €502 | +€502 | |
| Gross operating margin | 9900 | €148,839 | €160,539 | +€11,700 | +7.9% |
| Operating profit (loss) | 9901 | €142,407 | €150,722 | +€8,316 | +5.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €157 | €187 | +€30 | +19.2% |
| Recurring financial charges | 65 | €157 | €187 | +€30 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €142,250 | €150,536 | +€8,285 | +5.8% |
| Income taxes | 67/77 | €31,387 | €34,537 | +€3,149 | +10.0% |
| Profit (loss) for the period | 9904 | €110,863 | €115,999 | +€5,136 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €110,863 | €115,999 | +€5,136 | +4.6% |
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 20 October 2026 via checked.be.