SPIESSENS: 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.
What changed
SPIESSENS
NACE 28.299, Manufacture of machinery and equipment not elsewhere classified
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€118,166
2024 · €152,823-€34,657
Equity
€2.7m
2024 · €2.6m+€118,166
Cash
€39,645
2024 · €17,947+€21,698
Balance sheet total
€8.2m
2024 · €8.0m+€239,605
Largest movements
Assets
- Stocks and contracts +€149,313
up €149,313 (+25.0%), from €597,852 to €747,165
Equity and liabilities
- Debts after one year +€1.0m
up €1.0m (+163.7%), from €624,674 to €1.6m
of which Financial debts: +€635,389
- Trade debts -€838,940
down €838,940 (-19.6%), from €4.3m to €3.4m
- Reserves +€118,166
up €118,166 (+4.6%), from €2.6m to €2.7m
of which Distributable reserves: +€118,166
Income statement
- Financial charges +€116,694
up €116,694 (+126.5%), from €92,233 to €208,927
of which Non-recurring financial charges: +€131,018
- Staff costs -€40,545
down €40,545 (-2.7%), from €1.5m to €1.5m
- Gross operating margin +€28,075
up €28,075 (+1.5%), from €1.8m to €1.9m
- Write-downs -€23,704
no longer reported in 2025 (was €23,704)
- Other operating charges +€20,237
up €20,237 (+451.9%), from €4,478 to €24,715
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.
Result 2024
€152,823
Gross operating margin
+€28,075
Staff costs
+€40,545
Depreciation
+€10,085
Write-downs
+€23,704
Other operating charges
-€20,237
Financial income
+€1,019
Financial charges
-€116,694
Taxes
-€1,152
Result 2025
€118,166
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.
From operations
-€851,778
Investment
-€89,828
Financing
+€963,304
Cash 2024
€17,947
From operations (derived)
-€851,778
Net result for the year
+€118,166
Depreciation
+€64,274
Stocks and contracts
-€149,313
Receivables within one year
-€68,829
Deferred charges and accrued income
+€25,789
Trade debts
-€838,940
Tax, wage and social debts
-€20,635
Other debts
+€34,000
Accrued charges and deferred income
-€16,290
Investment (derived)
-€89,828
Investment in fixed assets (net)
-€89,828
Financing
+€963,304
Debts after one year
+€1.0m
Current portion of long-term debt
-€62,933
Short-term financial debts
+€3,948
Cash 2025
€39,645
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,001,511 | €8,241,116 | +€239,605 | +3.0% |
| Fixed assets | 21/28 | €331,816 | €357,370 | +€25,554 | +7.7% |
| Intangible fixed assets | 21 | €155,419 | €139,877 | -€15,542 | -10.0% |
| Tangible fixed assets | 22/27 | €133,296 | €195,503 | +€62,206 | +46.7% |
| Plant, machinery and equipment | 23 | - | €104,784 | +€104,784 | |
| Furniture and vehicles | 24 | €87,340 | €61,094 | -€26,246 | -30.1% |
| Leasing and similar rights | 25 | €17,565 | €4,136 | -€13,430 | -76.5% |
| Other tangible fixed assets | 26 | €28,391 | €25,489 | -€2,902 | -10.2% |
| Financial fixed assets | 28 | €43,100 | €21,990 | -€21,110 | -49.0% |
| Current assets | 29/58 | €7,669,695 | €7,883,746 | +€214,051 | +2.8% |
| Stocks and contracts in progress | 3 | €597,852 | €747,165 | +€149,313 | +25.0% |
| Stocks | 30/36 | €597,852 | €747,165 | +€149,313 | +25.0% |
| Amounts receivable within one year | 40/41 | €7,018,108 | €7,086,936 | +€68,829 | +1.0% |
| Trade receivables | 40 | €6,187,181 | €6,820,326 | +€633,145 | +10.2% |
| Other amounts receivable | 41 | €830,927 | €266,610 | -€564,316 | -67.9% |
| Cash at bank and in hand | 54/58 | €17,947 | €39,645 | +€21,698 | +120.9% |
| Deferred charges and accrued income | 490/1 | €35,789 | €10,000 | -€25,789 | -72.1% |
| Total equity and liabilities | 10/49 | €8,001,511 | €8,241,116 | +€239,605 | +3.0% |
| Equity | 10/15 | €2,579,107 | €2,697,272 | +€118,166 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,560,507 | €2,678,672 | +€118,166 | +4.6% |
| Tax-exempt reserves | 132 | €56,051 | €56,051 | = | 0.0% |
| Distributable reserves | 133 | €2,504,456 | €2,622,622 | +€118,166 | +4.7% |
| Amounts payable | 17/49 | €5,422,404 | €5,543,843 | +€121,439 | +2.2% |
| Amounts payable after more than one year | 17 | €624,674 | €1,646,963 | +€1.0m | +163.7% |
| Financial debts | 170/4 | €624,674 | €1,260,063 | +€635,389 | +101.7% |
| Advances received on contracts in progress | 176 | - | €386,900 | +€386,900 | |
| Amounts payable within one year | 42/48 | €4,781,441 | €3,896,880 | -€884,560 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €87,044 | €24,111 | -€62,933 | -72.3% |
| Financial debts | 43 | €186,589 | €190,538 | +€3,948 | +2.1% |
| Credit institutions | 430/8 | €186,589 | €190,538 | +€3,948 | +2.1% |
| Trade debts | 44 | €4,284,461 | €3,445,521 | -€838,940 | -19.6% |
| Suppliers | 440/4 | €4,284,461 | €3,445,521 | -€838,940 | -19.6% |
| Taxes, remuneration and social security | 45 | €215,646 | €195,011 | -€20,635 | -9.6% |
| Taxes | 450/3 | €8,498 | €145 | -€8,353 | -98.3% |
| Remuneration and social security | 454/9 | €207,148 | €194,865 | -€12,282 | -5.9% |
| Other amounts payable | 47/48 | €7,700 | €41,700 | +€34,000 | +441.6% |
| Accrued charges and deferred income | 492/3 | €16,290 | - | -€16,290 | |
| Remuneration, social security and pensions | 62 | €1,490,665 | €1,450,120 | -€40,545 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,359 | €64,274 | -€10,085 | -13.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,704 | - | -€23,704 | |
| Other operating charges | 640/8 | €4,478 | €24,715 | +€20,237 | +451.9% |
| Gross operating margin | 9900 | €1,839,562 | €1,867,637 | +€28,075 | +1.5% |
| Operating profit (loss) | 9901 | €246,357 | €328,528 | +€82,171 | +33.4% |
| Financial income | 75/76B | €0 | €1,019 | +€1,019 | +5093200.0% |
| Recurring financial income | 75 | €0 | €1,019 | +€1,019 | +5093200.0% |
| Financial charges | 65/66B | €92,233 | €208,927 | +€116,694 | +126.5% |
| Recurring financial charges | 65 | €92,233 | €77,909 | -€14,324 | -15.5% |
| Non-recurring financial charges | 66B | - | €131,018 | +€131,018 | |
| Profit (loss) for the period before taxes | 9903 | €154,124 | €120,619 | -€33,505 | -21.7% |
| Income taxes | 67/77 | €1,301 | €2,453 | +€1,152 | +88.6% |
| Profit (loss) for the period | 9904 | €152,823 | €118,166 | -€34,657 | -22.7% |
| Transfer to tax-exempt reserves | 689 | €42,100 | - | -€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €110,723 | €118,166 | +€7,443 | +6.7% |
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 10 October 2026 via checked.be.