SPINOZ: 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.
SPINOZ
Largest movements
- Tangible fixed assets +€28,191
up €28,191 (+40.2%), from €70,052 to €98,243
of which Furniture and vehicles: +€30,344
- Cash +€21,804
up €21,804 (+19.7%), from €110,594 to €132,397
mainly Net result for the year (+€170,604) and Trade debts (+€40,976)
- Deferred charges and accrued income +€18,924
up €18,924 (+559%), from €3,387 to €22,311
- Receivables within one year -€10,697
down €10,697 (-20.7%), from €51,652 to €40,956
of which Trade receivables: -€10,697
- Trade debts +€40,976
up €40,976 (+3,064%), from €1,337 to €42,314
- Other debts +€39,644
up €39,644 (+33.5%), from €118,222 to €157,865
- Profit (loss) carried forward -€16,396
down €16,396 (-39.0%), from €42,079 to €25,682
- Tax, wage and social debts -€6,933
down €6,933 (-13.3%), from €52,202 to €45,269
of which Taxes: -€9,907
- Gross operating margin -€7,376
down €7,376 (-2.3%), from €327,204 to €319,828
- Staff costs +€4,133
up €4,133 (+6.0%), from €69,374 to €73,507
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 | €235,685 | €293,907 | +€58,222 | +24.7% |
| Fixed assets | 21/28 | €70,052 | €98,243 | +€28,191 | +40.2% |
| Tangible fixed assets | 22/27 | €70,052 | €98,243 | +€28,191 | +40.2% |
| Furniture and vehicles | 24 | €46,657 | €77,001 | +€30,344 | +65.0% |
| Other tangible fixed assets | 26 | €23,395 | €21,242 | -€2,153 | -9.2% |
| Current assets | 29/58 | €165,633 | €195,664 | +€30,031 | +18.1% |
| Amounts receivable within one year | 40/41 | €51,652 | €40,956 | -€10,697 | -20.7% |
| Trade receivables | 40 | €51,652 | €40,956 | -€10,697 | -20.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €110,594 | €132,397 | +€21,804 | +19.7% |
| Deferred charges and accrued income | 490/1 | €3,387 | €22,311 | +€18,924 | +559% |
| Total equity and liabilities | 10/49 | €235,685 | €293,907 | +€58,222 | +24.7% |
| Equity | 10/15 | €62,539 | €46,142 | -€16,396 | -26.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,079 | €25,682 | -€16,396 | -39.0% |
| Amounts payable | 17/49 | €173,146 | €247,765 | +€74,618 | +43.1% |
| Amounts payable within one year | 42/48 | €172,235 | €245,465 | +€73,230 | +42.5% |
| Financial debts | 43 | €474 | €17 | -€457 | -96.4% |
| Credit institutions | 430/8 | €474 | €17 | -€457 | -96.4% |
| Trade debts | 44 | €1,337 | €42,314 | +€40,976 | +3,064% |
| Suppliers | 440/4 | €1,337 | €42,314 | +€40,976 | +3,064% |
| Taxes, remuneration and social security | 45 | €52,202 | €45,269 | -€6,933 | -13.3% |
| Taxes | 450/3 | €34,929 | €25,022 | -€9,907 | -28.4% |
| Remuneration and social security | 454/9 | €17,273 | €20,246 | +€2,974 | +17.2% |
| Other amounts payable | 47/48 | €118,222 | €157,865 | +€39,644 | +33.5% |
| Accrued charges and deferred income | 492/3 | €912 | €2,300 | +€1,388 | +152% |
| Non-recurring operating income | 76A | - | €5,665 | +€5,665 | |
| Remuneration, social security and pensions | 62 | €69,374 | €73,507 | +€4,133 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,333 | €16,651 | +€1,318 | +8.6% |
| Other operating charges | 640/8 | €496 | €839 | +€343 | +69.1% |
| Gross operating margin | 9900 | €327,204 | €319,828 | -€7,376 | -2.3% |
| Operating profit (loss) | 9901 | €242,000 | €228,831 | -€13,169 | -5.4% |
| Financial income | 75/76B | €0 | €5 | +€5 | +13,400% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +13,400% |
| Financial charges | 65/66B | €193 | €1,263 | +€1,070 | +555% |
| Recurring financial charges | 65 | €193 | €1,263 | +€1,070 | +555% |
| Profit (loss) for the period before taxes | 9903 | €241,808 | €227,573 | -€14,234 | -5.9% |
| Income taxes | 67/77 | €59,729 | €56,970 | -€2,759 | -4.6% |
| Profit (loss) for the period | 9904 | €182,079 | €170,604 | -€11,475 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €182,079 | €170,604 | -€11,475 | -6.3% |
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 19 October 2026 via checked.be.