SPINNAEL: 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.
SPINNAEL
Largest movements
- Cash +€50,737
up €50,737 (+76.1%), from €66,647 to €117,384
mainly Net result for the year (+€25,529) and Depreciation (+€10,799)
- Receivables within one year -€8,822
down €8,822 (-26.2%), from €33,627 to €24,805
- Tangible fixed assets -€5,972
down €5,972 (-23.1%), from €25,801 to €19,829
of which Furniture and vehicles: -€9,356
- Profit (loss) carried forward +€24,696
up €24,696 (+47.6%), from €51,901 to €76,597
- Tax, wage and social debts +€7,701
up €7,701 (+30.0%), from €25,665 to €33,367
of which Taxes: +€4,951
- Gross operating margin -€16,307
down €16,307 (-22.2%), from €73,565 to €57,258
- Taxes +€4,631
up €4,631 (+34.9%), from €13,263 to €17,894
- Depreciation +€4,114
up €4,114 (+61.5%), from €6,684 to €10,799
- Financial charges +€1,512
up €1,512 (+119.1%), from €1,270 to €2,781
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 | €127,562 | €162,706 | +€35,144 | +27.6% |
| Fixed assets | 21/28 | €26,664 | €20,492 | -€6,172 | -23.1% |
| Intangible fixed assets | 21 | €863 | €663 | -€200 | -23.2% |
| Tangible fixed assets | 22/27 | €25,801 | €19,829 | -€5,972 | -23.1% |
| Plant, machinery and equipment | 23 | €5,106 | €4,130 | -€976 | -19.1% |
| Furniture and vehicles | 24 | €20,694 | €11,338 | -€9,356 | -45.2% |
| Other tangible fixed assets | 26 | - | €4,360 | +€4,360 | |
| Current assets | 29/58 | €100,897 | €142,214 | +€41,316 | +40.9% |
| Amounts receivable within one year | 40/41 | €33,627 | €24,805 | -€8,822 | -26.2% |
| Trade receivables | 40 | €33,627 | €24,805 | -€8,822 | -26.2% |
| Cash at bank and in hand | 54/58 | €66,647 | €117,384 | +€50,737 | +76.1% |
| Deferred charges and accrued income | 490/1 | €623 | €25 | -€598 | -96.0% |
| Total equity and liabilities | 10/49 | €127,562 | €162,706 | +€35,144 | +27.6% |
| Equity | 10/15 | €61,901 | €86,597 | +€24,696 | +39.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,901 | €76,597 | +€24,696 | +47.6% |
| Amounts payable | 17/49 | €65,660 | €76,108 | +€10,448 | +15.9% |
| Amounts payable within one year | 42/48 | €64,438 | €73,598 | +€9,159 | +14.2% |
| Trade debts | 44 | €6,629 | €7,047 | +€418 | +6.3% |
| Suppliers | 440/4 | €6,629 | €7,047 | +€418 | +6.3% |
| Taxes, remuneration and social security | 45 | €25,665 | €33,367 | +€7,701 | +30.0% |
| Taxes | 450/3 | €25,665 | €30,617 | +€4,951 | +19.3% |
| Remuneration and social security | 454/9 | - | €2,750 | +€2,750 | |
| Other amounts payable | 47/48 | €32,144 | €33,184 | +€1,040 | +3.2% |
| Accrued charges and deferred income | 492/3 | €1,222 | €2,511 | +€1,288 | +105.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,684 | €10,799 | +€4,114 | +61.5% |
| Other operating charges | 640/8 | €447 | €259 | -€188 | -42.0% |
| Gross operating margin | 9900 | €73,565 | €57,258 | -€16,307 | -22.2% |
| Operating profit (loss) | 9901 | €66,434 | €46,201 | -€20,233 | -30.5% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €1,270 | €2,781 | +€1,512 | +119.1% |
| Recurring financial charges | 65 | €1,270 | €2,781 | +€1,512 | +119.1% |
| Profit (loss) for the period before taxes | 9903 | €65,164 | €43,423 | -€21,741 | -33.4% |
| Income taxes | 67/77 | €13,263 | €17,894 | +€4,631 | +34.9% |
| Profit (loss) for the period | 9904 | €51,901 | €25,529 | -€26,372 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,901 | €25,529 | -€26,372 | -50.8% |
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 10 October 2026 via checked.be.