Spimac: what changed
Spimac
Largest movements
- Receivables within one year -€26,274
down €26,274 (-77.7%), from €33,801 to €7,527
of which Trade receivables: -€26,192
- Cash -€14,806
down €14,806 (-48.3%), from €30,676 to €15,870
mainly Trade debts (-€50,025) and Investment in fixed assets (net) (-€15,957)
- Trade debts -€50,025
down €50,025 (-94.1%), from €53,187 to €3,162
- Profit (loss) carried forward +€13,394
up €13,394 (+55.4%), from €24,168 to €37,562
- Tax, wage and social debts -€3,003
down €3,003 (-10.4%), from €28,920 to €25,917
- Other debts -€1,556
no longer reported in 2025 (was €1,556)
- Gross operating margin -€21,298
down €21,298 (-35.3%), from €60,295 to €38,997
- Taxes -€5,075
down €5,075 (-43.0%), from €11,811 to €6,736
- Depreciation -€4,650
down €4,650 (-22.3%), from €20,838 to €16,188
- Other operating charges -€2,046
down €2,046 (-64.4%), from €3,177 to €1,131
- Financial charges +€1,246
up €1,246 (+413%), from €302 to €1,548
of which Financial charges: +€1,246
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,830 | €71,641 | -€41,190 | -36.5% |
| Fixed assets | 21/28 | €45,998 | €45,768 | -€230 | -0.5% |
| Tangible fixed assets | 22/27 | €45,998 | €45,768 | -€230 | -0.5% |
| Plant, machinery and equipment | 23 | - | €11,842 | +€11,842 | |
| Furniture and vehicles | 24 | €45,998 | €33,925 | -€12,073 | -26.2% |
| Current assets | 29/58 | €66,832 | €25,873 | -€40,959 | -61.3% |
| Amounts receivable within one year | 40/41 | €33,801 | €7,527 | -€26,274 | -77.7% |
| Trade receivables | 40 | €33,719 | €7,527 | -€26,192 | -77.7% |
| Other amounts receivable | 41 | €82 | - | -€82 | |
| Cash at bank and in hand | 54/58 | €30,676 | €15,870 | -€14,806 | -48.3% |
| Deferred charges and accrued income | 490/1 | €2,355 | €2,476 | +€120 | +5.1% |
| Total equity and liabilities | 10/49 | €112,830 | €71,641 | -€41,190 | -36.5% |
| Equity | 10/15 | €29,168 | €42,562 | +€13,394 | +45.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,168 | €37,562 | +€13,394 | +55.4% |
| Amounts payable | 17/49 | €83,662 | €29,078 | -€54,584 | -65.2% |
| Amounts payable within one year | 42/48 | €83,662 | €29,078 | -€54,584 | -65.2% |
| Trade debts | 44 | €53,187 | €3,162 | -€50,025 | -94.1% |
| Suppliers | 440/4 | €53,187 | €3,162 | -€50,025 | -94.1% |
| Taxes, remuneration and social security | 45 | €28,920 | €25,917 | -€3,003 | -10.4% |
| Taxes | 450/3 | €28,920 | €25,917 | -€3,003 | -10.4% |
| Other amounts payable | 47/48 | €1,556 | - | -€1,556 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,838 | €16,188 | -€4,650 | -22.3% |
| Other operating charges | 640/8 | €3,177 | €1,131 | -€2,046 | -64.4% |
| Gross operating margin | 9900 | €60,295 | €38,997 | -€21,298 | -35.3% |
| Operating profit (loss) | 9901 | €36,280 | €21,678 | -€14,602 | -40.2% |
| Financial charges | 65/66B | €302 | €1,548 | +€1,246 | +413% |
| Recurring financial charges | 65 | €302 | €1,548 | +€1,246 | +413% |
| Non-recurring financial charges | 66B | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €35,979 | €20,130 | -€15,849 | -44.0% |
| Income taxes | 67/77 | €11,811 | €6,736 | -€5,075 | -43.0% |
| Profit (loss) for the period | 9904 | €24,168 | €13,394 | -€10,774 | -44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,168 | €13,394 | -€10,774 | -44.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.