SPIRALBEL: 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.
SPIRALBEL
Largest movements
- Receivables within one year +€94,657
up €94,657 (+353%), from €26,841 to €121,498
of which Trade receivables: +€90,226
- Tangible fixed assets -€10,437
down €10,437 (-49.0%), from €21,299 to €10,862
- Cash +€10,045
up €10,045 (+64.6%), from €15,554 to €25,598
mainly Advances received (+€68,083) and Trade debts (+€33,023)
- Advances received +€68,083
new in 2025: €68,083
- Trade debts +€33,023
up €33,023 (+391%), from €8,456 to €41,479
- Tax, wage and social debts -€11,159
down €11,159 (-51.5%), from €21,687 to €10,528
of which Remuneration and social security: -€13,300
- Profit (loss) carried forward +€6,004
up €6,004 (+36.0%), from €16,680 to €22,683
- Current portion of long-term debt -€1,814
down €1,814 (-45.5%), from €3,990 to €2,176
- Gross operating margin -€17,818
down €17,818 (-46.6%), from €38,224 to €20,406
- Depreciation -€11,118
down €11,118 (-51.6%), from €21,555 to €10,437
- Taxes -€5,866
down €5,866 (-74.6%), from €7,867 to €2,001
- Financial charges -€1,325
down €1,325 (-86.5%), from €1,533 to €207
- Other operating charges +€415
up €415 (+31.0%), from €1,342 to €1,757
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 | €72,694 | €166,958 | +€94,264 | +130% |
| Fixed assets | 21/28 | €30,299 | €19,862 | -€10,437 | -34.4% |
| Tangible fixed assets | 22/27 | €21,299 | €10,862 | -€10,437 | -49.0% |
| Plant, machinery and equipment | 23 | €8,388 | €6,694 | -€1,694 | -20.2% |
| Furniture and vehicles | 24 | €8,668 | €4,168 | -€4,500 | -51.9% |
| Leasing and similar rights | 25 | €4,243 | - | -€4,243 | |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €42,395 | €147,096 | +€104,701 | +247% |
| Amounts receivable within one year | 40/41 | €26,841 | €121,498 | +€94,657 | +353% |
| Trade receivables | 40 | €26,673 | €116,899 | +€90,226 | +338% |
| Other amounts receivable | 41 | €168 | €4,599 | +€4,430 | +2,631% |
| Cash at bank and in hand | 54/58 | €15,554 | €25,598 | +€10,045 | +64.6% |
| Total equity and liabilities | 10/49 | €72,694 | €166,958 | +€94,264 | +130% |
| Equity | 10/15 | €18,680 | €24,683 | +€6,004 | +32.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,680 | €22,683 | +€6,004 | +36.0% |
| Amounts payable | 17/49 | €54,014 | €142,274 | +€88,260 | +163% |
| Amounts payable after more than one year | 17 | €4,197 | €4,197 | = | 0.0% |
| Financial debts | 170/4 | €4,197 | €4,197 | = | 0.0% |
| Amounts payable within one year | 42/48 | €49,817 | €138,077 | +€88,260 | +177% |
| Current portion of amounts payable after more than one year | 42 | €3,990 | €2,176 | -€1,814 | -45.5% |
| Trade debts | 44 | €8,456 | €41,479 | +€33,023 | +391% |
| Suppliers | 440/4 | €8,456 | €41,479 | +€33,023 | +391% |
| Advances received on contracts in progress | 46 | - | €68,083 | +€68,083 | |
| Taxes, remuneration and social security | 45 | €21,687 | €10,528 | -€11,159 | -51.5% |
| Taxes | 450/3 | €7,366 | €9,506 | +€2,141 | +29.1% |
| Remuneration and social security | 454/9 | €14,322 | €1,022 | -€13,300 | -92.9% |
| Other amounts payable | 47/48 | €15,684 | €15,811 | +€127 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,555 | €10,437 | -€11,118 | -51.6% |
| Other operating charges | 640/8 | €1,342 | €1,757 | +€415 | +31.0% |
| Gross operating margin | 9900 | €38,224 | €20,406 | -€17,818 | -46.6% |
| Operating profit (loss) | 9901 | €15,327 | €8,212 | -€7,115 | -46.4% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €1,533 | €207 | -€1,325 | -86.5% |
| Recurring financial charges | 65 | €1,533 | €207 | -€1,325 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | €13,797 | €8,005 | -€5,792 | -42.0% |
| Income taxes | 67/77 | €7,867 | €2,001 | -€5,866 | -74.6% |
| Profit (loss) for the period | 9904 | €5,930 | €6,004 | +€74 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,930 | €6,004 | +€74 | +1.2% |
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 17 October 2026 via checked.be.