SPILCO: 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.
SPILCO
Largest movements
- Cash -€42,940
down €42,940 (-69.8%), from €61,548 to €18,608
mainly Investment in fixed assets (net) (-€50,503) and Other debts (-€45,452)
- Tangible fixed assets -€7,601
down €7,601 (-1.4%), from €562,650 to €555,049
of which Land and buildings: -€25,608
- Other debts -€45,452
down €45,452 (-12.3%), from €369,498 to €324,046
- Depreciation +€13,851
up €13,851 (+31.3%), from €44,253 to €58,104
- Gross operating margin +€6,037
up €6,037 (+9.2%), from €65,446 to €71,482
- Taxes -€1,732
down €1,732 (-73.3%), from €2,364 to €632
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 | €650,279 | €605,991 | -€44,288 | -6.8% |
| Fixed assets | 21/28 | €562,650 | €555,049 | -€7,601 | -1.4% |
| Tangible fixed assets | 22/27 | €562,650 | €555,049 | -€7,601 | -1.4% |
| Land and buildings | 22 | €164,417 | €138,810 | -€25,608 | -15.6% |
| Plant, machinery and equipment | 23 | €1,053 | €36,401 | +€35,348 | +3358.3% |
| Other tangible fixed assets | 26 | €397,180 | €379,838 | -€17,342 | -4.4% |
| Current assets | 29/58 | €87,629 | €50,942 | -€36,687 | -41.9% |
| Amounts receivable within one year | 40/41 | €10,777 | €11,468 | +€691 | +6.4% |
| Trade receivables | 40 | - | €1,918 | +€1,918 | |
| Other amounts receivable | 41 | €10,777 | €9,550 | -€1,227 | -11.4% |
| Cash at bank and in hand | 54/58 | €61,548 | €18,608 | -€42,940 | -69.8% |
| Deferred charges and accrued income | 490/1 | €15,304 | €20,866 | +€5,562 | +36.3% |
| Total equity and liabilities | 10/49 | €650,279 | €605,991 | -€44,288 | -6.8% |
| Equity | 10/15 | €277,510 | €278,907 | +€1,397 | +0.5% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Capital | 10 | €115,000 | €115,000 | = | 0.0% |
| Issued capital | 100 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €136,328 | €136,328 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,500 | €11,500 | = | 0.0% |
| Legal reserve | 130 | €11,500 | €11,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,150 | €13,150 | = | 0.0% |
| Distributable reserves | 133 | €111,678 | €111,678 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,182 | €27,579 | +€1,397 | +5.3% |
| Amounts payable | 17/49 | €372,769 | €327,084 | -€45,685 | -12.3% |
| Amounts payable within one year | 42/48 | €372,041 | €326,294 | -€45,747 | -12.3% |
| Trade debts | 44 | €2,543 | €2,242 | -€301 | -11.9% |
| Suppliers | 440/4 | €2,543 | €2,242 | -€301 | -11.9% |
| Taxes, remuneration and social security | 45 | - | €7 | +€7 | |
| Taxes | 450/3 | - | €7 | +€7 | |
| Other amounts payable | 47/48 | €369,498 | €324,046 | -€45,452 | -12.3% |
| Accrued charges and deferred income | 492/3 | €728 | €790 | +€62 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,253 | €58,104 | +€13,851 | +31.3% |
| Other operating charges | 640/8 | €10,135 | €10,521 | +€385 | +3.8% |
| Gross operating margin | 9900 | €65,446 | €71,482 | +€6,037 | +9.2% |
| Operating profit (loss) | 9901 | €11,057 | €2,858 | -€8,200 | -74.2% |
| Financial charges | 65/66B | €763 | €829 | +€66 | +8.7% |
| Recurring financial charges | 65 | €763 | €829 | +€66 | +8.7% |
| Profit (loss) for the period before taxes | 9903 | €10,294 | €2,029 | -€8,266 | -80.3% |
| Income taxes | 67/77 | €2,364 | €632 | -€1,732 | -73.3% |
| Profit (loss) for the period | 9904 | €7,931 | €1,397 | -€6,534 | -82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,931 | €1,397 | -€6,534 | -82.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.