SPIESSENS CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets -€3,860
down €3,860 (-1.9%), from €203,039 to €199,180
of which Land and buildings: -€3,439
- Debts after one year -€19,200
down €19,200 (-21.6%), from €89,000 to €69,800
- Short-term financial debts +€9,600
new in 2025: €9,600
- Reserves +€7,824
up €7,824 (+7.5%), from €103,932 to €111,757
of which Distributable reserves: +€9,454
- Gross operating margin +€1,644
up €1,644 (+6.1%), from €27,103 to €28,747
- Taxes +€647
up €647 (+17.2%), from €3,764 to €4,412
- Financial charges -€494
down €494 (-10.5%), from €4,725 to €4,230
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 | €212,351 | €209,749 | -€2,602 | -1.2% |
| Fixed assets | 21/28 | €203,039 | €199,180 | -€3,860 | -1.9% |
| Tangible fixed assets | 22/27 | €203,039 | €199,180 | -€3,860 | -1.9% |
| Land and buildings | 22 | €200,567 | €197,128 | -€3,439 | -1.7% |
| Plant, machinery and equipment | 23 | €2,472 | €2,052 | -€421 | -17.0% |
| Current assets | 29/58 | €9,312 | €10,569 | +€1,257 | +13.5% |
| Amounts receivable within one year | 40/41 | - | €528 | +€528 | |
| Other amounts receivable | 41 | - | €528 | +€528 | |
| Cash at bank and in hand | 54/58 | €9,312 | €10,041 | +€729 | +7.8% |
| Total equity and liabilities | 10/49 | €212,351 | €209,749 | -€2,602 | -1.2% |
| Equity | 10/15 | €122,524 | €130,349 | +€7,824 | +6.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €103,932 | €111,757 | +€7,824 | +7.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Other | 1319 | - | €1,859 | +€1,859 | |
| Tax-exempt reserves | 132 | €20,745 | €19,115 | -€1,630 | -7.9% |
| Distributable reserves | 133 | €81,328 | €90,782 | +€9,454 | +11.6% |
| Amounts payable | 17/49 | €89,826 | €79,400 | -€10,426 | -11.6% |
| Amounts payable after more than one year | 17 | €89,000 | €69,800 | -€19,200 | -21.6% |
| Financial debts | 170/4 | €89,000 | €69,800 | -€19,200 | -21.6% |
| Amounts payable within one year | 42/48 | €826 | €9,600 | +€8,774 | +1061.5% |
| Financial debts | 43 | - | €9,600 | +€9,600 | |
| Other loans | 439 | - | €9,600 | +€9,600 | |
| Trade debts | 44 | €62 | - | -€62 | |
| Suppliers | 440/4 | €62 | - | -€62 | |
| Taxes, remuneration and social security | 45 | €764 | - | -€764 | |
| Taxes | 450/3 | €764 | - | -€764 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,163 | €9,322 | +€158 | +1.7% |
| Other operating charges | 640/8 | €2,987 | €2,960 | -€27 | -0.9% |
| Gross operating margin | 9900 | €27,103 | €28,747 | +€1,644 | +6.1% |
| Operating profit (loss) | 9901 | €14,953 | €16,466 | +€1,513 | +10.1% |
| Financial charges | 65/66B | €4,725 | €4,230 | -€494 | -10.5% |
| Recurring financial charges | 65 | €4,725 | €4,230 | -€494 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €10,228 | €12,236 | +€2,007 | +19.6% |
| Income taxes | 67/77 | €3,764 | €4,412 | +€647 | +17.2% |
| Profit (loss) for the period | 9904 | €6,464 | €7,824 | +€1,360 | +21.0% |
| Transfer from tax-exempt reserves | 789 | €1,630 | €1,630 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,093 | €9,454 | +€1,360 | +16.8% |
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 11 October 2026 via checked.be.