SPINDLETOP: 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.
SPINDLETOP
Largest movements
- Cash +€126,606
up €126,606 (+27.7%), from €456,714 to €583,320
mainly Net result for the year (+€69,993) and Depreciation (+€48,663)
- Intangible fixed assets -€48,663
down €48,663 (-28.0%), from €173,595 to €124,931
- Receivables within one year -€10,564
down €10,564 (-10.8%), from €97,443 to €86,878
of which Trade receivables: -€6,000
- Reserves +€69,993
up €69,993 (+10.6%), from €658,228 to €728,221
of which Distributable reserves: +€69,993
- Financial income -€5,671
down €5,671 (-56.0%), from €10,128 to €4,457
- Gross operating margin +€5,334
up €5,334 (+3.8%), from €141,724 to €147,059
- Financial charges -€2,996
down €2,996 (-26.4%), from €11,360 to €8,364
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 | €752,123 | €819,501 | +€67,378 | +9.0% |
| Fixed assets | 21/28 | €173,595 | €124,931 | -€48,663 | -28.0% |
| Intangible fixed assets | 21 | €173,595 | €124,931 | -€48,663 | -28.0% |
| Current assets | 29/58 | €578,528 | €694,570 | +€116,041 | +20.1% |
| Stocks and contracts in progress | 3 | €24,371 | €24,371 | = | 0.0% |
| Stocks | 30/36 | €24,371 | €24,371 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €97,443 | €86,878 | -€10,564 | -10.8% |
| Trade receivables | 40 | €92,879 | €86,878 | -€6,000 | -6.5% |
| Other amounts receivable | 41 | €4,564 | - | -€4,564 | |
| Cash at bank and in hand | 54/58 | €456,714 | €583,320 | +€126,606 | +27.7% |
| Total equity and liabilities | 10/49 | €752,123 | €819,501 | +€67,378 | +9.0% |
| Equity | 10/15 | €721,228 | €791,221 | +€69,993 | +9.7% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €658,228 | €728,221 | +€69,993 | +10.6% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Distributable reserves | 133 | €651,928 | €721,921 | +€69,993 | +10.7% |
| Amounts payable | 17/49 | €30,894 | €28,280 | -€2,615 | -8.5% |
| Amounts payable within one year | 42/48 | €30,894 | €28,280 | -€2,615 | -8.5% |
| Trade debts | 44 | €16,215 | €15,337 | -€877 | -5.4% |
| Suppliers | 440/4 | €16,215 | €15,337 | -€877 | -5.4% |
| Taxes, remuneration and social security | 45 | €14,680 | €12,942 | -€1,737 | -11.8% |
| Taxes | 450/3 | €14,680 | €12,942 | -€1,737 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,663 | €48,663 | = | 0.0% |
| Other operating charges | 640/8 | €842 | €618 | -€224 | -26.6% |
| Gross operating margin | 9900 | €141,724 | €147,059 | +€5,334 | +3.8% |
| Operating profit (loss) | 9901 | €92,219 | €97,777 | +€5,558 | +6.0% |
| Financial income | 75/76B | €10,128 | €4,457 | -€5,671 | -56.0% |
| Recurring financial income | 75 | €10,128 | €4,457 | -€5,671 | -56.0% |
| Financial charges | 65/66B | €11,360 | €8,364 | -€2,996 | -26.4% |
| Recurring financial charges | 65 | €11,360 | €8,364 | -€2,996 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €90,987 | €93,871 | +€2,884 | +3.2% |
| Income taxes | 67/77 | €22,436 | €23,878 | +€1,442 | +6.4% |
| Profit (loss) for the period | 9904 | €68,551 | €69,993 | +€1,442 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €68,551 | €69,993 | +€1,442 | +2.1% |
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 10 October 2026 via checked.be.