SPIN: what changed
Two fiscal 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.
SPIN
Largest movements
- Receivables within one year +€35,857
up €35,857 (+50.3%), from €71,237 to €107,093
of which Trade receivables: +€58,816
- Cash +€33,237
up €33,237 (+12.5%), from €266,119 to €299,355
mainly Net result for the year (+€38,738) and Trade debts (+€22,285)
- Profit (loss) carried forward +€30,738
up €30,738 (+16.5%), from €185,774 to €216,511
- Trade debts +€22,285
up €22,285 (+81.0%), from €27,498 to €49,784
- Tax, wage and social debts +€18,671
up €18,671 (+135.7%), from €13,755 to €32,426
of which Taxes: +€11,018
- Accrued charges and deferred income -€11,523
down €11,523 (-11.1%), from €104,174 to €92,652
- Reserves +€8,000
up €8,000 (+50.0%), from €16,000 to €24,000
- Gross operating margin -€8,494
down €8,494 (-3.6%), from €238,751 to €230,257
- Staff costs +€3,143
up €3,143 (+1.7%), from €180,588 to €183,730
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 | €347,201 | €415,373 | +€68,172 | +19.6% |
| Fixed assets | 21/28 | €9,846 | €8,924 | -€922 | -9.4% |
| Tangible fixed assets | 22/27 | €8,658 | €7,736 | -€922 | -10.6% |
| Plant, machinery and equipment | 23 | €4,816 | €5,175 | +€359 | +7.4% |
| Furniture and vehicles | 24 | €3,841 | €2,561 | -€1,281 | -33.3% |
| Financial fixed assets | 28 | €1,188 | €1,188 | = | 0.0% |
| Current assets | 29/58 | €337,356 | €406,449 | +€69,093 | +20.5% |
| Amounts receivable within one year | 40/41 | €71,237 | €107,093 | +€35,857 | +50.3% |
| Trade receivables | 40 | €5,892 | €64,707 | +€58,816 | +998.3% |
| Other amounts receivable | 41 | €65,345 | €42,386 | -€22,959 | -35.1% |
| Cash at bank and in hand | 54/58 | €266,119 | €299,355 | +€33,237 | +12.5% |
| Total equity and liabilities | 10/49 | €347,201 | €415,373 | +€68,172 | +19.6% |
| Equity | 10/15 | €201,774 | €240,511 | +€38,738 | +19.2% |
| Reserves | 13 | €16,000 | €24,000 | +€8,000 | +50.0% |
| Profit (loss) carried forward | 14 | €185,774 | €216,511 | +€30,738 | +16.5% |
| Amounts payable | 17/49 | €145,428 | €174,861 | +€29,434 | +20.2% |
| Amounts payable within one year | 42/48 | €41,253 | €82,210 | +€40,957 | +99.3% |
| Trade debts | 44 | €27,498 | €49,784 | +€22,285 | +81.0% |
| Suppliers | 440/4 | €27,498 | €49,784 | +€22,285 | +81.0% |
| Taxes, remuneration and social security | 45 | €13,755 | €32,426 | +€18,671 | +135.7% |
| Taxes | 450/3 | - | €11,018 | +€11,018 | |
| Remuneration and social security | 454/9 | €13,755 | €21,409 | +€7,653 | +55.6% |
| Accrued charges and deferred income | 492/3 | €104,174 | €92,652 | -€11,523 | -11.1% |
| Non-recurring operating income | 76A | - | €950 | +€950 | |
| Remuneration, social security and pensions | 62 | €180,588 | €183,730 | +€3,143 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,826 | €6,559 | -€267 | -3.9% |
| Other operating charges | 640/8 | €222 | €408 | +€186 | +84.1% |
| Non-recurring operating charges | 66A | - | €150 | +€150 | |
| Gross operating margin | 9900 | €238,751 | €230,257 | -€8,494 | -3.6% |
| Operating profit (loss) | 9901 | €51,115 | €39,409 | -€11,706 | -22.9% |
| Financial income | 75/76B | €73 | €227 | +€154 | +212.2% |
| Recurring financial income | 75 | €73 | €227 | +€154 | +212.2% |
| Financial charges | 65/66B | €727 | €898 | +€171 | +23.5% |
| Recurring financial charges | 65 | €727 | €898 | +€171 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €50,461 | €38,738 | -€11,723 | -23.2% |
| Profit (loss) for the period | 9904 | €50,461 | €38,738 | -€11,723 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,461 | €38,738 | -€11,723 | -23.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.