SPin-Up: 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-Up
Largest movements
- Tangible fixed assets +€692,686
up €692,686 (+438%), from €158,154 to €850,840
of which Land and buildings: +€609,193
- Cash +€14,329
up €14,329 (+76.1%), from €18,820 to €33,150
mainly Debts after one year (+€472,113) and Other debts (+€239,049)
- Debts after one year +€472,113
up €472,113 (+2,113%), from €22,338 to €494,451
of which Financial debts: +€466,613
- Other debts +€239,049
up €239,049 (+353%), from €67,705 to €306,754
- Current portion of long-term debt +€21,924
up €21,924 (+203%), from €10,811 to €32,735
- Profit (loss) carried forward -€21,136
down €21,136, from €14,521 to -€6,616
- Depreciation +€98,969
up €98,969 (+277%), from €35,724 to €134,692
- Gross operating margin +€46,940
up €46,940 (+54.4%), from €86,294 to €133,234
- Taxes -€15,577
down €15,577, from €15,577 to -€0
- Financial charges +€9,510
up €9,510 (+481%), from €1,978 to €11,487
- Other operating charges +€4,049
up €4,049 (+97.7%), from €4,143 to €8,192
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 | €225,992 | €930,461 | +€704,470 | +312% |
| Fixed assets | 21/28 | €158,154 | €850,840 | +€692,686 | +438% |
| Tangible fixed assets | 22/27 | €158,154 | €850,840 | +€692,686 | +438% |
| Land and buildings | 22 | €89,529 | €698,722 | +€609,193 | +680% |
| Plant, machinery and equipment | 23 | €7,354 | €5,342 | -€2,012 | -27.4% |
| Furniture and vehicles | 24 | €61,270 | €146,776 | +€85,506 | +140% |
| Current assets | 29/58 | €67,838 | €79,621 | +€11,783 | +17.4% |
| Amounts receivable within one year | 40/41 | €46,219 | €44,562 | -€1,657 | -3.6% |
| Trade receivables | 40 | €38,219 | €44,562 | +€6,343 | +16.6% |
| Other amounts receivable | 41 | €8,000 | - | -€8,000 | |
| Cash at bank and in hand | 54/58 | €18,820 | €33,150 | +€14,329 | +76.1% |
| Deferred charges and accrued income | 490/1 | €2,799 | €1,909 | -€890 | -31.8% |
| Total equity and liabilities | 10/49 | €225,992 | €930,461 | +€704,470 | +312% |
| Equity | 10/15 | €84,581 | €63,444 | -€21,136 | -25.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €63,860 | €63,860 | = | 0.0% |
| Distributable reserves | 133 | €63,860 | €63,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,521 | -€6,616 | -€21,136 | |
| Amounts payable | 17/49 | €141,411 | €867,017 | +€725,606 | +513% |
| Amounts payable after more than one year | 17 | €22,338 | €494,451 | +€472,113 | +2,113% |
| Financial debts | 170/4 | €22,338 | €488,951 | +€466,613 | +2,089% |
| Other amounts payable | 178/9 | - | €5,500 | +€5,500 | |
| Amounts payable within one year | 42/48 | €117,483 | €372,566 | +€255,083 | +217% |
| Current portion of amounts payable after more than one year | 42 | €10,811 | €32,735 | +€21,924 | +203% |
| Trade debts | 44 | €2,333 | €2,202 | -€130 | -5.6% |
| Suppliers | 440/4 | €2,333 | €2,202 | -€130 | -5.6% |
| Taxes, remuneration and social security | 45 | €36,634 | €30,875 | -€5,759 | -15.7% |
| Taxes | 450/3 | €36,634 | €30,875 | -€5,759 | -15.7% |
| Other amounts payable | 47/48 | €67,705 | €306,754 | +€239,049 | +353% |
| Accrued charges and deferred income | 492/3 | €1,590 | - | -€1,590 | |
| Non-recurring operating income | 76A | €1,147 | - | -€1,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,724 | €134,692 | +€98,969 | +277% |
| Other operating charges | 640/8 | €4,143 | €8,192 | +€4,049 | +97.7% |
| Gross operating margin | 9900 | €86,294 | €133,234 | +€46,940 | +54.4% |
| Operating profit (loss) | 9901 | €46,428 | -€9,650 | -€56,078 | |
| Financial income | 75/76B | €1 | €1 | +€0 | +34.5% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +34.5% |
| Financial charges | 65/66B | €1,978 | €11,487 | +€9,510 | +481% |
| Recurring financial charges | 65 | €1,978 | €11,487 | +€9,510 | +481% |
| Profit (loss) for the period before taxes | 9903 | €44,451 | -€21,136 | -€65,587 | |
| Income taxes | 67/77 | €15,577 | -€0 | -€15,577 | |
| Profit (loss) for the period | 9904 | €28,873 | -€21,136 | -€50,010 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,873 | -€21,136 | -€50,010 |
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 22 October 2026 via checked.be.