SPINE CONCEPT: 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 CONCEPT
Largest movements
- Tangible fixed assets +€70,884
up €70,884 (+9.1%), from €777,264 to €848,148
of which Assets under construction and advance payments: +€99,967
- Current investments +€50,000
up €50,000 (+7.1%), from €700,000 to €750,000
- Cash -€36,313
down €36,313 (-31.3%), from €116,125 to €79,812
mainly Investment in fixed assets (net) (-€107,986) and Current investments (-€50,000)
- Reserves +€87,532
up €87,532 (+34.2%), from €255,730 to €343,261
of which Distributable reserves: +€87,532
- Gross operating margin -€44,584
down €44,584 (-21.3%), from €208,962 to €164,378
- Taxes -€16,594
down €16,594 (-27.6%), from €60,160 to €43,567
- Financial income -€8,249
down €8,249 (-43.1%), from €19,143 to €10,894
- Depreciation +€2,530
up €2,530 (+7.3%), from €34,572 to €37,102
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 | €1,799,595 | €1,888,334 | +€88,738 | +4.9% |
| Fixed assets | 21/28 | €777,264 | €848,148 | +€70,884 | +9.1% |
| Tangible fixed assets | 22/27 | €777,264 | €848,148 | +€70,884 | +9.1% |
| Land and buildings | 22 | €771,455 | €744,372 | -€27,083 | -3.5% |
| Furniture and vehicles | 24 | €5,809 | €3,809 | -€2,000 | -34.4% |
| Assets under construction and advance payments | 27 | - | €99,967 | +€99,967 | |
| Current assets | 29/58 | €1,022,332 | €1,040,186 | +€17,854 | +1.7% |
| Stocks and contracts in progress | 3 | €43,880 | €44,581 | +€701 | +1.6% |
| Stocks | 30/36 | €43,880 | €44,581 | +€701 | +1.6% |
| Amounts receivable within one year | 40/41 | €158,406 | €164,603 | +€6,197 | +3.9% |
| Trade receivables | 40 | €66,198 | €66,847 | +€649 | +1.0% |
| Other amounts receivable | 41 | €92,208 | €97,756 | +€5,547 | +6.0% |
| Current investments | 50/53 | €700,000 | €750,000 | +€50,000 | +7.1% |
| Cash at bank and in hand | 54/58 | €116,125 | €79,812 | -€36,313 | -31.3% |
| Deferred charges and accrued income | 490/1 | €3,921 | €1,190 | -€2,731 | -69.7% |
| Total equity and liabilities | 10/49 | €1,799,595 | €1,888,334 | +€88,738 | +4.9% |
| Equity | 10/15 | €1,546,976 | €1,634,508 | +€87,532 | +5.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €255,730 | €343,261 | +€87,532 | +34.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €253,730 | €341,261 | +€87,532 | +34.5% |
| Profit (loss) carried forward | 14 | €1,271,246 | €1,271,246 | = | 0.0% |
| Amounts payable | 17/49 | €252,619 | €253,826 | +€1,207 | +0.5% |
| Amounts payable within one year | 42/48 | €238,019 | €253,026 | +€15,007 | +6.3% |
| Trade debts | 44 | €3,552 | €18,140 | +€14,589 | +411% |
| Suppliers | 440/4 | €3,552 | €18,140 | +€14,589 | +411% |
| Taxes, remuneration and social security | 45 | €15,003 | €16,194 | +€1,191 | +7.9% |
| Taxes | 450/3 | €15,003 | €16,194 | +€1,191 | +7.9% |
| Other amounts payable | 47/48 | €219,464 | €218,691 | -€773 | -0.4% |
| Accrued charges and deferred income | 492/3 | €14,600 | €800 | -€13,800 | -94.5% |
| Non-recurring operating income | 76A | €408 | €36 | -€372 | -91.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,572 | €37,102 | +€2,530 | +7.3% |
| Other operating charges | 640/8 | €6,478 | €7,013 | +€535 | +8.3% |
| Non-recurring operating charges | 66A | €2,012 | €14 | -€1,999 | -99.3% |
| Gross operating margin | 9900 | €208,962 | €164,378 | -€44,584 | -21.3% |
| Operating profit (loss) | 9901 | €165,900 | €120,250 | -€45,650 | -27.5% |
| Financial income | 75/76B | €19,143 | €10,894 | -€8,249 | -43.1% |
| Recurring financial income | 75 | €19,143 | €10,894 | -€8,249 | -43.1% |
| Financial charges | 65/66B | €66 | €45 | -€21 | -31.4% |
| Recurring financial charges | 65 | €66 | €45 | -€21 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €184,977 | €131,098 | -€53,879 | -29.1% |
| Income taxes | 67/77 | €60,160 | €43,567 | -€16,594 | -27.6% |
| Profit (loss) for the period | 9904 | €124,816 | €87,532 | -€37,285 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €124,816 | €87,532 | -€37,285 | -29.9% |
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 28 October 2026 via checked.be.