SPIN 111: 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.
SPIN 111
Largest movements
- Tangible fixed assets -€13,044
down €13,044 (-26.3%), from €49,580 to €36,536
of which Furniture and vehicles: -€11,794
- Receivables within one year +€7,295
up €7,295 (+401%), from €1,821 to €9,116
- Cash +€3,418
up €3,418 (+11.8%), from €29,080 to €32,498
mainly Depreciation (+€13,044) and Tax, wage and social debts (+€1,413)
- Deferred charges and accrued income +€2,600
up €2,600 (+2,230%), from €117 to €2,716
- Current investments +€2,500
up €2,500 (+2.5%), from €101,000 to €103,500
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€13,598
up €13,598 (+1,143%), from €1,189 to €14,787
- Other operating charges -€6,206
down €6,206 (-86.4%), from €7,182 to €976
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 | €181,598 | €184,367 | +€2,769 | +1.5% |
| Fixed assets | 21/28 | €49,580 | €36,536 | -€13,044 | -26.3% |
| Tangible fixed assets | 22/27 | €49,580 | €36,536 | -€13,044 | -26.3% |
| Plant, machinery and equipment | 23 | €2,306 | €1,056 | -€1,250 | -54.2% |
| Furniture and vehicles | 24 | €47,275 | €35,480 | -€11,794 | -24.9% |
| Current assets | 29/58 | €132,018 | €147,831 | +€15,813 | +12.0% |
| Amounts receivable within one year | 40/41 | €1,821 | €9,116 | +€7,295 | +401% |
| Trade receivables | 40 | €1,821 | €9,116 | +€7,295 | +401% |
| Current investments | 50/53 | €101,000 | €103,500 | +€2,500 | +2.5% |
| Cash at bank and in hand | 54/58 | €29,080 | €32,498 | +€3,418 | +11.8% |
| Deferred charges and accrued income | 490/1 | €117 | €2,716 | +€2,600 | +2,230% |
| Total equity and liabilities | 10/49 | €181,598 | €184,367 | +€2,769 | +1.5% |
| Equity | 10/15 | €180,845 | €181,517 | +€672 | +0.4% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,155 | -€18,483 | +€672 | +3.5% |
| Amounts payable | 17/49 | €753 | €2,850 | +€2,097 | +279% |
| Amounts payable within one year | 42/48 | €753 | €2,850 | +€2,097 | +279% |
| Trade debts | 44 | €145 | €709 | +€564 | +389% |
| Suppliers | 440/4 | €145 | €709 | +€564 | +389% |
| Taxes, remuneration and social security | 45 | €367 | €1,780 | +€1,413 | +385% |
| Taxes | 450/3 | €367 | €1,780 | +€1,413 | +385% |
| Other amounts payable | 47/48 | €241 | €361 | +€120 | +49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,141 | €13,044 | -€97 | -0.7% |
| Other operating charges | 640/8 | €7,182 | €976 | -€6,206 | -86.4% |
| Gross operating margin | 9900 | €1,189 | €14,787 | +€13,598 | +1,143% |
| Operating profit (loss) | 9901 | -€19,133 | €767 | +€19,901 | |
| Financial charges | 65/66B | €21 | €96 | +€74 | +350% |
| Recurring financial charges | 65 | €21 | €96 | +€74 | +350% |
| Profit (loss) for the period before taxes | 9903 | -€19,155 | €672 | +€19,826 | |
| Profit (loss) for the period | 9904 | -€19,155 | €672 | +€19,826 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,155 | €672 | +€19,826 |
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 18 October 2026 via checked.be.