SPINPOWER: 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.
SPINPOWER
Largest movements
- Cash -€137,632
down €137,632 (-74.6%), from €184,386 to €46,754
mainly Short-term financial debts (-€113,864) and Current investments (-€100,000)
- Tangible fixed assets -€113,261
down €113,261 (-15.6%), from €726,760 to €613,499
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year -€51,303
down €51,303 (-61.8%), from €83,057 to €31,754
of which Other amounts receivable: -€29,701
- Short-term financial debts -€113,864
down €113,864 (-71.3%), from €159,700 to €45,836
- Debts after one year -€100,000
down €100,000 (-18.0%), from €555,870 to €455,870
- Tax, wage and social debts +€12,078
new in 2025: €12,078
- Gross operating margin +€65,366
up €65,366 (+32.8%), from €199,443 to €264,809
- Taxes +€18,519
up €18,519 (+169.0%), from €10,955 to €29,475
- Financial charges -€7,265
down €7,265 (-17.2%), from €42,242 to €34,977
- Other operating charges +€6,322
up €6,322 (+5357.3%), from €118 to €6,440
- Write-downs -€5,321
new in 2025: -€5,321
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 | €1,006,510 | €810,077 | -€196,433 | -19.5% |
| Fixed assets | 21/28 | €726,760 | €613,499 | -€113,261 | -15.6% |
| Tangible fixed assets | 22/27 | €726,760 | €613,499 | -€113,261 | -15.6% |
| Plant, machinery and equipment | 23 | €726,760 | €613,499 | -€113,261 | -15.6% |
| Current assets | 29/58 | €279,750 | €196,578 | -€83,172 | -29.7% |
| Amounts receivable within one year | 40/41 | €83,057 | €31,754 | -€51,303 | -61.8% |
| Trade receivables | 40 | €53,357 | €31,754 | -€21,603 | -40.5% |
| Other amounts receivable | 41 | €29,701 | €0 | -€29,701 | -100.0% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €184,386 | €46,754 | -€137,632 | -74.6% |
| Deferred charges and accrued income | 490/1 | €12,307 | €18,070 | +€5,763 | +46.8% |
| Total equity and liabilities | 10/49 | €1,006,510 | €810,077 | -€196,433 | -19.5% |
| Equity | 10/15 | €279,272 | €282,373 | +€3,100 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €260,672 | €263,773 | +€3,100 | +1.2% |
| Distributable reserves | 133 | €260,672 | €263,773 | +€3,100 | +1.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €727,238 | €527,705 | -€199,533 | -27.4% |
| Amounts payable after more than one year | 17 | €555,870 | €455,870 | -€100,000 | -18.0% |
| Financial debts | 170/4 | €555,870 | €455,870 | -€100,000 | -18.0% |
| Amounts payable within one year | 42/48 | €159,704 | €62,805 | -€96,899 | -60.7% |
| Financial debts | 43 | €159,700 | €45,836 | -€113,864 | -71.3% |
| Credit institutions | 430/8 | €159,700 | €45,836 | -€113,864 | -71.3% |
| Trade debts | 44 | €4 | €4,891 | +€4,887 | +127595.8% |
| Suppliers | 440/4 | €4 | €4,891 | +€4,887 | +127595.8% |
| Taxes, remuneration and social security | 45 | - | €12,078 | +€12,078 | |
| Taxes | 450/3 | - | €12,078 | +€12,078 | |
| Accrued charges and deferred income | 492/3 | €11,664 | €9,029 | -€2,634 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,261 | €113,261 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€5,321 | -€5,321 | |
| Other operating charges | 640/8 | €118 | €6,440 | +€6,322 | +5357.3% |
| Gross operating margin | 9900 | €199,443 | €264,809 | +€65,366 | +32.8% |
| Operating profit (loss) | 9901 | €86,064 | €150,429 | +€64,365 | +74.8% |
| Financial income | 75/76B | - | €823 | +€823 | |
| Recurring financial income | 75 | - | €823 | +€823 | |
| Financial charges | 65/66B | €42,242 | €34,977 | -€7,265 | -17.2% |
| Recurring financial charges | 65 | €42,242 | €34,977 | -€7,265 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €43,822 | €116,275 | +€72,453 | +165.3% |
| Income taxes | 67/77 | €10,955 | €29,475 | +€18,519 | +169.0% |
| Profit (loss) for the period | 9904 | €32,866 | €86,800 | +€53,934 | +164.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,866 | €86,800 | +€53,934 | +164.1% |
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 11 October 2026 via checked.be.