SPINN: 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.
SPINN
Largest movements
- Tangible fixed assets +€207,470
up €207,470 (+76.8%), from €269,972 to €477,442
of which Land and buildings: +€207,898
- Receivables within one year +€157,780
up €157,780 (+170%), from €92,991 to €250,772
of which Trade receivables: +€153,711
- Cash -€36,789
down €36,789 (-33.9%), from €108,641 to €71,852
mainly Investment in fixed assets (net) (-€236,913) and Receivables within one year (-€157,780)
- Debts after one year +€166,356
up €166,356 (+105%), from €158,773 to €325,129
- Reserves +€127,255
up €127,255 (+52.6%), from €242,025 to €369,280
of which Distributable reserves: +€127,255
- Short-term financial debts +€50,000
new in 2025: €50,000
- Tax, wage and social debts -€23,551
down €23,551 (-88.9%), from €26,490 to €2,938
of which Taxes: -€25,231
- Current portion of long-term debt +€18,844
new in 2025: €18,844
- Financial charges +€26,946
up €26,946 (+514%), from €5,244 to €32,190
- Depreciation +€20,286
up €20,286 (+222%), from €9,156 to €29,442
- Taxes -€14,168
down €14,168 (-31.4%), from €45,089 to €30,921
- Gross operating margin +€9,860
up €9,860 (+4.6%), from €214,228 to €224,088
- Financial income -€9,618
down €9,618 (-98.3%), from €9,788 to €169
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 | €488,331 | €817,515 | +€329,184 | +67.4% |
| Fixed assets | 21/28 | €275,492 | €482,962 | +€207,470 | +75.3% |
| Tangible fixed assets | 22/27 | €269,972 | €477,442 | +€207,470 | +76.8% |
| Land and buildings | 22 | €245,349 | €453,247 | +€207,898 | +84.7% |
| Plant, machinery and equipment | 23 | €4,380 | €5,642 | +€1,262 | +28.8% |
| Furniture and vehicles | 24 | €15,112 | €14,089 | -€1,023 | -6.8% |
| Other tangible fixed assets | 26 | €5,131 | €4,464 | -€667 | -13.0% |
| Financial fixed assets | 28 | €5,520 | €5,520 | = | 0.0% |
| Current assets | 29/58 | €212,839 | €334,553 | +€121,714 | +57.2% |
| Amounts receivable within one year | 40/41 | €92,991 | €250,772 | +€157,780 | +170% |
| Trade receivables | 40 | €47,149 | €200,860 | +€153,711 | +326% |
| Other amounts receivable | 41 | €45,843 | €49,912 | +€4,069 | +8.9% |
| Current investments | 50/53 | €8,752 | €10,303 | +€1,551 | +17.7% |
| Cash at bank and in hand | 54/58 | €108,641 | €71,852 | -€36,789 | -33.9% |
| Deferred charges and accrued income | 490/1 | €2,454 | €1,626 | -€828 | -33.8% |
| Total equity and liabilities | 10/49 | €488,331 | €817,515 | +€329,184 | +67.4% |
| Equity | 10/15 | €260,625 | €387,880 | +€127,255 | +48.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €242,025 | €369,280 | +€127,255 | +52.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €240,165 | €367,420 | +€127,255 | +53.0% |
| Amounts payable | 17/49 | €227,705 | €429,634 | +€201,929 | +88.7% |
| Amounts payable after more than one year | 17 | €158,773 | €325,129 | +€166,356 | +105% |
| Financial debts | 170/4 | €158,773 | €325,129 | +€166,356 | +105% |
| Amounts payable within one year | 42/48 | €68,932 | €104,505 | +€35,573 | +51.6% |
| Current portion of amounts payable after more than one year | 42 | - | €18,844 | +€18,844 | |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Other loans | 439 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €11,514 | - | -€11,514 | |
| Suppliers | 440/4 | €11,514 | - | -€11,514 | |
| Taxes, remuneration and social security | 45 | €26,490 | €2,938 | -€23,551 | -88.9% |
| Taxes | 450/3 | €26,490 | €1,258 | -€25,231 | -95.3% |
| Remuneration and social security | 454/9 | - | €1,680 | +€1,680 | |
| Other amounts payable | 47/48 | €30,928 | €32,723 | +€1,795 | +5.8% |
| Remuneration, social security and pensions | 62 | - | €39 | +€39 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,156 | €29,442 | +€20,286 | +222% |
| Other operating charges | 640/8 | €348 | €409 | +€61 | +17.6% |
| Gross operating margin | 9900 | €214,228 | €224,088 | +€9,860 | +4.6% |
| Operating profit (loss) | 9901 | €204,723 | €194,197 | -€10,526 | -5.1% |
| Financial income | 75/76B | €9,788 | €169 | -€9,618 | -98.3% |
| Recurring financial income | 75 | €9,788 | €169 | -€9,618 | -98.3% |
| Financial charges | 65/66B | €5,244 | €32,190 | +€26,946 | +514% |
| Recurring financial charges | 65 | €5,244 | €32,190 | +€26,946 | +514% |
| Profit (loss) for the period before taxes | 9903 | €209,266 | €162,176 | -€47,090 | -22.5% |
| Income taxes | 67/77 | €45,089 | €30,921 | -€14,168 | -31.4% |
| Profit (loss) for the period | 9904 | €164,177 | €131,255 | -€32,922 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €164,177 | €131,255 | -€32,922 | -20.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.