SPIESSENS & CO: 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.
SPIESSENS & CO
Largest movements
- Stocks and contracts +€511,708
up €511,708 (+246%), from €208,311 to €720,019
- Cash -€94,484
down €94,484 (-60.4%), from €156,358 to €61,875
mainly Stocks and contracts (-€511,708) and Current portion of long-term debt (-€5,299)
- Tangible fixed assets -€70,440
down €70,440 (-33.9%), from €207,863 to €137,423
- Receivables within one year -€12,175
down €12,175 (-21.6%), from €56,424 to €44,249
of which Trade receivables: -€14,000
- Other debts +€323,011
up €323,011 (+156%), from €206,545 to €529,556
- Profit (loss) carried forward +€13,867
up €13,867 (+21.1%), from €65,658 to €79,525
- Gross operating margin +€52,103
up €52,103 (+201%), from €25,885 to €77,988
- Depreciation -€46,266
down €46,266 (-52.7%), from €87,732 to €41,465
- Staff costs -€3,144
down €3,144 (-32.7%), from €9,623 to €6,479
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 | €658,376 | €986,241 | +€327,865 | +49.8% |
| Fixed assets | 21/28 | €207,863 | €137,423 | -€70,440 | -33.9% |
| Tangible fixed assets | 22/27 | €207,863 | €137,423 | -€70,440 | -33.9% |
| Land and buildings | 22 | €137,946 | €112,570 | -€25,377 | -18.4% |
| Plant, machinery and equipment | 23 | €40,942 | €24,853 | -€16,089 | -39.3% |
| Furniture and vehicles | 24 | €28,975 | €0 | -€28,975 | -100% |
| Current assets | 29/58 | €450,513 | €848,818 | +€398,305 | +88.4% |
| Stocks and contracts in progress | 3 | €208,311 | €720,019 | +€511,708 | +246% |
| Stocks | 30/36 | €208,311 | €720,019 | +€511,708 | +246% |
| Amounts receivable within one year | 40/41 | €56,424 | €44,249 | -€12,175 | -21.6% |
| Trade receivables | 40 | €55,801 | €41,801 | -€14,000 | -25.1% |
| Other amounts receivable | 41 | €623 | €2,448 | +€1,825 | +293% |
| Cash at bank and in hand | 54/58 | €156,358 | €61,875 | -€94,484 | -60.4% |
| Deferred charges and accrued income | 490/1 | €29,419 | €22,675 | -€6,744 | -22.9% |
| Total equity and liabilities | 10/49 | €658,376 | €986,241 | +€327,865 | +49.8% |
| Equity | 10/15 | €249,305 | €263,172 | +€13,867 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €165,047 | €165,047 | = | 0.0% |
| Distributable reserves | 133 | €165,047 | €165,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,658 | €79,525 | +€13,867 | +21.1% |
| Amounts payable | 17/49 | €409,071 | €723,069 | +€313,998 | +76.8% |
| Amounts payable after more than one year | 17 | €179,000 | €179,000 | = | 0.0% |
| Financial debts | 170/4 | €179,000 | €179,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €230,071 | €544,069 | +€313,998 | +136% |
| Current portion of amounts payable after more than one year | 42 | €5,299 | €0 | -€5,299 | -100% |
| Financial debts | 43 | €1,784 | €31 | -€1,753 | -98.3% |
| Credit institutions | 430/8 | €1,784 | €0 | -€1,784 | -100% |
| Other loans | 439 | - | €31 | +€31 | |
| Trade debts | 44 | €10,066 | €6,026 | -€4,040 | -40.1% |
| Suppliers | 440/4 | €10,066 | €6,026 | -€4,040 | -40.1% |
| Taxes, remuneration and social security | 45 | €6,377 | €8,456 | +€2,079 | +32.6% |
| Taxes | 450/3 | €6,062 | €8,456 | +€2,394 | +39.5% |
| Remuneration and social security | 454/9 | €315 | €0 | -€315 | -100% |
| Other amounts payable | 47/48 | €206,545 | €529,556 | +€323,011 | +156% |
| Non-recurring operating income | 76A | €16,023 | €190,591 | +€174,567 | +1,089% |
| Remuneration, social security and pensions | 62 | €9,623 | €6,479 | -€3,144 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,732 | €41,465 | -€46,266 | -52.7% |
| Other operating charges | 640/8 | €1,865 | €2,460 | +€595 | +31.9% |
| Gross operating margin | 9900 | €25,885 | €77,988 | +€52,103 | +201% |
| Operating profit (loss) | 9901 | -€73,335 | €27,584 | +€100,919 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €13,252 | €13,283 | +€31 | +0.2% |
| Recurring financial charges | 65 | €13,252 | €13,283 | +€31 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€86,587 | €14,302 | +€100,889 | |
| Income taxes | 67/77 | €1,183 | €436 | -€747 | -63.1% |
| Profit (loss) for the period | 9904 | -€87,770 | €13,867 | +€101,636 | |
| Profit (loss) for the period to be appropriated | 9905 | -€87,770 | €13,867 | +€101,636 |
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 29 October 2026 via checked.be.