SPINNAKER: 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.
SPINNAKER
Largest movements
- Receivables after one year +€150,000
new in 2025: €150,000
- Cash -€115,923
down €115,923 (-65.2%), from €177,700 to €61,777
mainly Contributions, distributions and other (-€458,000) and Receivables after one year (-€150,000)
- Receivables within one year +€5,079
up €5,079 (+2.4%), from €207,800 to €212,879
of which Trade receivables: +€7,579
- Debts after one year +€150,000
new in 2025: €150,000
- Other debts -€135,200
down €135,200 (-38.2%), from €354,040 to €218,840
- Tax, wage and social debts +€25,524
up €25,524 (+321.9%), from €7,930 to €33,454
of which Taxes: +€28,163
- Gross operating margin +€235,568
up €235,568 (+63.7%), from €369,686 to €605,253
- Taxes +€58,730
up €58,730 (+67.0%), from €87,621 to €146,351
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 | €385,500 | €425,330 | +€39,830 | +10.3% |
| Current assets | 29/58 | €385,500 | €425,330 | +€39,830 | +10.3% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Trade receivables | 290 | - | €150,000 | +€150,000 | |
| Amounts receivable within one year | 40/41 | €207,800 | €212,879 | +€5,079 | +2.4% |
| Trade receivables | 40 | €205,300 | €212,879 | +€7,579 | +3.7% |
| Other amounts receivable | 41 | €2,500 | - | -€2,500 | |
| Cash at bank and in hand | 54/58 | €177,700 | €61,777 | -€115,923 | -65.2% |
| Deferred charges and accrued income | 490/1 | - | €674 | +€674 | |
| Total equity and liabilities | 10/49 | €385,500 | €425,330 | +€39,830 | +10.3% |
| Equity | 10/15 | €20,724 | €21,036 | +€312 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264 | €576 | +€312 | +118.2% |
| Amounts payable | 17/49 | €364,776 | €404,294 | +€39,518 | +10.8% |
| Amounts payable after more than one year | 17 | - | €150,000 | +€150,000 | |
| Other amounts payable | 178/9 | - | €150,000 | +€150,000 | |
| Amounts payable within one year | 42/48 | €364,584 | €254,094 | -€110,490 | -30.3% |
| Trade debts | 44 | €2,614 | €1,800 | -€814 | -31.1% |
| Suppliers | 440/4 | €2,614 | €1,800 | -€814 | -31.1% |
| Taxes, remuneration and social security | 45 | €7,930 | €33,454 | +€25,524 | +321.9% |
| Taxes | 450/3 | €5,290 | €33,454 | +€28,163 | +532.4% |
| Remuneration and social security | 454/9 | €2,639 | - | -€2,639 | |
| Other amounts payable | 47/48 | €354,040 | €218,840 | -€135,200 | -38.2% |
| Accrued charges and deferred income | 492/3 | €192 | €200 | +€8 | +4.0% |
| Other operating charges | 640/8 | €403 | €395 | -€8 | -2.0% |
| Gross operating margin | 9900 | €369,686 | €605,253 | +€235,568 | +63.7% |
| Operating profit (loss) | 9901 | €369,283 | €604,858 | +€235,575 | +63.8% |
| Financial charges | 65/66B | €52 | €195 | +€143 | +276.5% |
| Recurring financial charges | 65 | €52 | €195 | +€143 | +276.5% |
| Profit (loss) for the period before taxes | 9903 | €369,231 | €604,663 | +€235,432 | +63.8% |
| Income taxes | 67/77 | €87,621 | €146,351 | +€58,730 | +67.0% |
| Profit (loss) for the period | 9904 | €281,610 | €458,312 | +€176,702 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €281,610 | €458,312 | +€176,702 | +62.7% |
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 9 October 2026 via checked.be.