SPINA EMMA: 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.
SPINA EMMA
Largest movements
- Cash +€52,678
up €52,678 (+158%), from €33,436 to €86,114
mainly Receivables within one year (+€22,798) and Depreciation (+€16,109)
- Receivables within one year -€22,798
down €22,798 (-22.5%), from €101,454 to €78,656
of which Other amounts receivable: -€22,921
- Intangible fixed assets -€6,000
down €6,000 (-33.3%), from €18,000 to €12,000
- Stocks and contracts -€5,849
down €5,849 (-12.3%), from €47,410 to €41,561
- Tangible fixed assets -€2,998
down €2,998 (-14.0%), from €21,464 to €18,466
of which Other tangible fixed assets: -€5,063
- Profit (loss) carried forward +€8,729
up €8,729 (+5.6%), from €155,503 to €164,232
- Tax, wage and social debts +€3,647
up €3,647 (+11.5%), from €31,649 to €35,296
of which Taxes: +€1,919
- Gross operating margin -€52,615
down €52,615 (-22.9%), from €230,244 to €177,630
- Staff costs -€31,289
down €31,289 (-19.5%), from €160,610 to €129,321
- Taxes +€4,221
up €4,221 (+32.0%), from €13,181 to €17,402
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 | €226,820 | €241,127 | +€14,307 | +6.3% |
| Fixed assets | 21/28 | €43,099 | €34,101 | -€8,998 | -20.9% |
| Intangible fixed assets | 21 | €18,000 | €12,000 | -€6,000 | -33.3% |
| Tangible fixed assets | 22/27 | €21,464 | €18,466 | -€2,998 | -14.0% |
| Plant, machinery and equipment | 23 | €1,588 | €1,338 | -€250 | -15.7% |
| Furniture and vehicles | 24 | €5,397 | €7,712 | +€2,315 | +42.9% |
| Other tangible fixed assets | 26 | €14,479 | €9,416 | -€5,063 | -35.0% |
| Financial fixed assets | 28 | €3,635 | €3,635 | = | 0.0% |
| Current assets | 29/58 | €183,720 | €207,026 | +€23,306 | +12.7% |
| Stocks and contracts in progress | 3 | €47,410 | €41,561 | -€5,849 | -12.3% |
| Stocks | 30/36 | €47,410 | €41,561 | -€5,849 | -12.3% |
| Amounts receivable within one year | 40/41 | €101,454 | €78,656 | -€22,798 | -22.5% |
| Trade receivables | 40 | - | €123 | +€123 | |
| Other amounts receivable | 41 | €101,454 | €78,533 | -€22,921 | -22.6% |
| Cash at bank and in hand | 54/58 | €33,436 | €86,114 | +€52,678 | +158% |
| Deferred charges and accrued income | 490/1 | €1,419 | €694 | -€725 | -51.1% |
| Total equity and liabilities | 10/49 | €226,820 | €241,127 | +€14,307 | +6.3% |
| Equity | 10/15 | €176,403 | €185,132 | +€8,729 | +4.9% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,503 | €164,232 | +€8,729 | +5.6% |
| Amounts payable | 17/49 | €50,417 | €55,995 | +€5,578 | +11.1% |
| Amounts payable within one year | 42/48 | €50,417 | €55,995 | +€5,578 | +11.1% |
| Trade debts | 44 | €18,768 | €20,699 | +€1,932 | +10.3% |
| Suppliers | 440/4 | €18,768 | €20,699 | +€1,932 | +10.3% |
| Taxes, remuneration and social security | 45 | €31,649 | €35,296 | +€3,647 | +11.5% |
| Taxes | 450/3 | €17,080 | €18,999 | +€1,919 | +11.2% |
| Remuneration and social security | 454/9 | €14,569 | €16,297 | +€1,728 | +11.9% |
| Remuneration, social security and pensions | 62 | €160,610 | €129,321 | -€31,289 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,039 | €16,109 | +€71 | +0.4% |
| Other operating charges | 640/8 | €725 | €2,649 | +€1,923 | +265% |
| Non-recurring operating charges | 66A | €13 | - | -€13 | |
| Gross operating margin | 9900 | €230,244 | €177,630 | -€52,615 | -22.9% |
| Operating profit (loss) | 9901 | €52,858 | €29,551 | -€23,307 | -44.1% |
| Financial income | 75/76B | €1,071 | €1,673 | +€602 | +56.2% |
| Recurring financial income | 75 | €1,071 | €1,673 | +€602 | +56.2% |
| Financial charges | 65/66B | €6,359 | €5,093 | -€1,266 | -19.9% |
| Recurring financial charges | 65 | €6,359 | €5,003 | -€1,356 | -21.3% |
| Non-recurring financial charges | 66B | - | €90 | +€90 | |
| Profit (loss) for the period before taxes | 9903 | €47,570 | €26,130 | -€21,439 | -45.1% |
| Income taxes | 67/77 | €13,181 | €17,402 | +€4,221 | +32.0% |
| Profit (loss) for the period | 9904 | €34,389 | €8,729 | -€25,660 | -74.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,389 | €8,729 | -€25,660 | -74.6% |
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 30 October 2026 via checked.be.