Spine4G: 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.
Spine4G
Largest movements
- Cash -€185,472
down €185,472 (-59.6%), from €311,323 to €125,851
mainly Investment in fixed assets (net) (-€163,262) and Current investments (-€112,497)
- Tangible fixed assets +€119,666
up €119,666 (+17.6%), from €680,182 to €799,848
of which Furniture and vehicles: +€110,084
- Current investments +€112,497
up €112,497 (+53.3%), from €211,208 to €323,705
- Receivables within one year +€17,237
new in 2025: €17,237
- Reserves +€133,793
up €133,793 (+16.8%), from €795,368 to €929,161
- Other debts -€31,441
down €31,441 (-12.0%), from €260,967 to €229,526
- Debts after one year -€20,254
down €20,254 (-21.7%), from €93,316 to €73,062
- Depreciation +€8,078
up €8,078 (+22.7%), from €35,517 to €43,595
- Financial charges +€4,592
up €4,592 (+71.2%), from €6,450 to €11,043
- Gross operating margin -€3,811
down €3,811 (-1.6%), from €242,937 to €239,126
- Taxes -€3,744
down €3,744 (-6.5%), from €57,636 to €53,892
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 | €1,253,081 | €1,325,030 | +€71,949 | +5.7% |
| Fixed assets | 21/28 | €680,182 | €799,848 | +€119,666 | +17.6% |
| Tangible fixed assets | 22/27 | €680,182 | €799,848 | +€119,666 | +17.6% |
| Land and buildings | 22 | €628,392 | €645,770 | +€17,377 | +2.8% |
| Plant, machinery and equipment | 23 | €25,073 | €17,278 | -€7,794 | -31.1% |
| Furniture and vehicles | 24 | €26,716 | €136,800 | +€110,084 | +412% |
| Current assets | 29/58 | €572,900 | €525,182 | -€47,717 | -8.3% |
| Amounts receivable within one year | 40/41 | - | €17,237 | +€17,237 | |
| Trade receivables | 40 | - | €17,237 | +€17,237 | |
| Current investments | 50/53 | €211,208 | €323,705 | +€112,497 | +53.3% |
| Cash at bank and in hand | 54/58 | €311,323 | €125,851 | -€185,472 | -59.6% |
| Deferred charges and accrued income | 490/1 | €50,368 | €58,389 | +€8,021 | +15.9% |
| Total equity and liabilities | 10/49 | €1,253,081 | €1,325,030 | +€71,949 | +5.7% |
| Equity | 10/15 | €851,168 | €984,961 | +€133,793 | +15.7% |
| Contributions | 10/11 | €55,800 | €55,800 | = | 0.0% |
| Reserves | 13 | €795,368 | €929,161 | +€133,793 | +16.8% |
| Distributable reserves | 133 | €795,368 | €929,161 | +€133,793 | +16.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €401,913 | €340,069 | -€61,844 | -15.4% |
| Amounts payable after more than one year | 17 | €93,316 | €73,062 | -€20,254 | -21.7% |
| Financial debts | 170/4 | €93,316 | €73,062 | -€20,254 | -21.7% |
| Amounts payable within one year | 42/48 | €308,561 | €267,007 | -€41,554 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €19,985 | €20,254 | +€269 | +1.3% |
| Trade debts | 44 | €6,974 | €3,065 | -€3,909 | -56.1% |
| Suppliers | 440/4 | €6,974 | €3,065 | -€3,909 | -56.1% |
| Taxes, remuneration and social security | 45 | €20,635 | €14,162 | -€6,473 | -31.4% |
| Taxes | 450/3 | €20,635 | €14,162 | -€6,473 | -31.4% |
| Other amounts payable | 47/48 | €260,967 | €229,526 | -€31,441 | -12.0% |
| Accrued charges and deferred income | 492/3 | €36 | €0 | -€36 | -100% |
| Remuneration, social security and pensions | 62 | €985 | €534 | -€451 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,517 | €43,595 | +€8,078 | +22.7% |
| Other operating charges | 640/8 | €1,133 | €1,242 | +€110 | +9.7% |
| Gross operating margin | 9900 | €242,937 | €239,126 | -€3,811 | -1.6% |
| Operating profit (loss) | 9901 | €205,302 | €193,755 | -€11,548 | -5.6% |
| Financial income | 75/76B | €7,139 | €4,973 | -€2,167 | -30.4% |
| Recurring financial income | 75 | €7,139 | €4,973 | -€2,167 | -30.4% |
| Financial charges | 65/66B | €6,450 | €11,043 | +€4,592 | +71.2% |
| Recurring financial charges | 65 | €6,450 | €11,043 | +€4,592 | +71.2% |
| Profit (loss) for the period before taxes | 9903 | €205,991 | €187,685 | -€18,307 | -8.9% |
| Income taxes | 67/77 | €57,636 | €53,892 | -€3,744 | -6.5% |
| Profit (loss) for the period | 9904 | €148,356 | €133,793 | -€14,563 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €148,356 | €133,793 | -€14,563 | -9.8% |
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 13 October 2026 via checked.be.