SPINE: 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.
SPINE
Largest movements
- Current investments -€501,239
down €501,239 (-58.9%), from €851,239 to €350,000
- Cash +€282,913
up €282,913 (+105%), from €269,251 to €552,164
mainly Current investments (+€501,239) and Net result for the year (+€179,785)
- Receivables within one year +€73,068
up €73,068 (+99.9%), from €73,128 to €146,196
- Reserves -€181,970
down €181,970 (-15.6%), from €1.2m to €981,010
of which Distributable reserves: -€136,000
- Trade debts +€20,801
up €20,801 (+392%), from €5,308 to €26,109
- Gross operating margin +€62,324
up €62,324 (+16.5%), from €376,757 to €439,081
- Financial income +€44,325
up €44,325 (+2,148%), from €2,063 to €46,388
- Staff costs +€44,254
up €44,254 (+48.3%), from €91,698 to €135,952
- Taxes +€36,078
up €36,078 (+63.4%), from €56,945 to €93,023
- Financial charges -€21,761
down €21,761 (-31.7%), from €68,674 to €46,914
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 | €1,336,606 | €1,182,559 | -€154,046 | -11.5% |
| Fixed assets | 21/28 | €131,121 | €112,606 | -€18,514 | -14.1% |
| Tangible fixed assets | 22/27 | €122,036 | €112,171 | -€9,864 | -8.1% |
| Land and buildings | 22 | €70,959 | €63,862 | -€7,097 | -10.0% |
| Furniture and vehicles | 24 | €35,328 | €35,341 | +€13 | 0.0% |
| Other tangible fixed assets | 26 | €15,748 | €12,968 | -€2,780 | -17.7% |
| Financial fixed assets | 28 | €9,085 | €435 | -€8,650 | -95.2% |
| Current assets | 29/58 | €1,205,485 | €1,069,953 | -€135,532 | -11.2% |
| Amounts receivable within one year | 40/41 | €73,128 | €146,196 | +€73,068 | +99.9% |
| Trade receivables | 40 | €73,128 | €146,196 | +€73,068 | +99.9% |
| Current investments | 50/53 | €851,239 | €350,000 | -€501,239 | -58.9% |
| Cash at bank and in hand | 54/58 | €269,251 | €552,164 | +€282,913 | +105% |
| Deferred charges and accrued income | 490/1 | €11,867 | €21,593 | +€9,726 | +82.0% |
| Total equity and liabilities | 10/49 | €1,336,606 | €1,182,559 | -€154,046 | -11.5% |
| Equity | 10/15 | €1,228,591 | €1,049,959 | -€178,632 | -14.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,162,980 | €981,010 | -€181,970 | -15.6% |
| Tax-exempt reserves | 132 | €193,320 | €147,350 | -€45,970 | -23.8% |
| Distributable reserves | 133 | €969,660 | €833,660 | -€136,000 | -14.0% |
| Profit (loss) carried forward | 14 | €59,411 | €62,749 | +€3,338 | +5.6% |
| Amounts payable | 17/49 | €108,015 | €132,600 | +€24,586 | +22.8% |
| Amounts payable after more than one year | 17 | €1,790 | €1,790 | = | 0.0% |
| Other amounts payable | 178/9 | €1,790 | €1,790 | = | 0.0% |
| Amounts payable within one year | 42/48 | €106,225 | €130,810 | +€24,586 | +23.1% |
| Trade debts | 44 | €5,308 | €26,109 | +€20,801 | +392% |
| Suppliers | 440/4 | €5,308 | €26,109 | +€20,801 | +392% |
| Taxes, remuneration and social security | 45 | €44,042 | €57,049 | +€13,007 | +29.5% |
| Taxes | 450/3 | €35,980 | €39,572 | +€3,592 | +10.0% |
| Remuneration and social security | 454/9 | €8,062 | €17,477 | +€9,415 | +117% |
| Other amounts payable | 47/48 | €56,875 | €47,652 | -€9,222 | -16.2% |
| Remuneration, social security and pensions | 62 | €91,698 | €135,952 | +€44,254 | +48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,959 | €25,749 | +€1,791 | +7.5% |
| Other operating charges | 640/8 | €4,594 | €4,046 | -€548 | -11.9% |
| Gross operating margin | 9900 | €376,757 | €439,081 | +€62,324 | +16.5% |
| Operating profit (loss) | 9901 | €256,507 | €273,334 | +€16,827 | +6.6% |
| Financial income | 75/76B | €2,063 | €46,388 | +€44,325 | +2,148% |
| Recurring financial income | 75 | €2,063 | €46,388 | +€44,325 | +2,148% |
| Financial charges | 65/66B | €68,674 | €46,914 | -€21,761 | -31.7% |
| Recurring financial charges | 65 | €68,674 | €46,914 | -€21,761 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €189,895 | €272,808 | +€82,913 | +43.7% |
| Income taxes | 67/77 | €56,945 | €93,023 | +€36,078 | +63.4% |
| Profit (loss) for the period | 9904 | €132,950 | €179,785 | +€46,835 | +35.2% |
| Transfer from tax-exempt reserves | 789 | - | €45,970 | +€45,970 | |
| Transfer to tax-exempt reserves | 689 | €58,940 | - | -€58,940 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,010 | €225,755 | +€151,745 | +205% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.