SPIREA: what changed
Two fiscal 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.
SPIREA
Largest movements
- Tangible fixed assets -€62,166
down €62,166 (-21.4%), from €290,770 to €228,604
- Cash +€18,998
up €18,998 (+8.3%), from €227,968 to €246,966
mainly Depreciation (+€62,166) and Trade debts (+€1,581)
- Profit (loss) carried forward -€41,268
down €41,268 (-3.4%), from -€1.2m to -€1.3m
- Gross operating margin +€17,994
up €17,994 (+188.3%), from €9,556 to €27,551
- Depreciation -€3,418
down €3,418 (-5.2%), from €65,584 to €62,166
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 | €571,886 | €532,182 | -€39,704 | -6.9% |
| Fixed assets | 21/28 | €292,946 | €230,780 | -€62,166 | -21.2% |
| Tangible fixed assets | 22/27 | €290,770 | €228,604 | -€62,166 | -21.4% |
| Land and buildings | 22 | €290,770 | €228,604 | -€62,166 | -21.4% |
| Financial fixed assets | 28 | €2,176 | €2,176 | = | 0.0% |
| Current assets | 29/58 | €278,940 | €301,402 | +€22,462 | +8.1% |
| Amounts receivable within one year | 40/41 | €50,972 | €52,877 | +€1,905 | +3.7% |
| Trade receivables | 40 | €50,972 | €52,877 | +€1,905 | +3.7% |
| Cash at bank and in hand | 54/58 | €227,968 | €246,966 | +€18,998 | +8.3% |
| Deferred charges and accrued income | 490/1 | - | €1,559 | +€1,559 | |
| Total equity and liabilities | 10/49 | €571,886 | €532,182 | -€39,704 | -6.9% |
| Equity | 10/15 | €569,943 | €528,675 | -€41,268 | -7.2% |
| Contributions | 10/11 | €1,800,000 | €1,800,000 | = | 0.0% |
| Capital | 10 | €1,800,000 | €1,800,000 | = | 0.0% |
| Issued capital | 100 | €1,800,000 | €1,800,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,230,057 | -€1,271,325 | -€41,268 | -3.4% |
| Amounts payable | 17/49 | €1,943 | €3,507 | +€1,564 | +80.5% |
| Amounts payable within one year | 42/48 | €1,943 | €3,507 | +€1,564 | +80.5% |
| Trade debts | 44 | €1,084 | €2,665 | +€1,581 | +145.9% |
| Suppliers | 440/4 | €1,084 | €2,665 | +€1,581 | +145.9% |
| Other amounts payable | 47/48 | €860 | €843 | -€17 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,584 | €62,166 | -€3,418 | -5.2% |
| Other operating charges | 640/8 | €6,503 | €6,307 | -€195 | -3.0% |
| Gross operating margin | 9900 | €9,556 | €27,551 | +€17,994 | +188.3% |
| Operating profit (loss) | 9901 | -€62,531 | -€40,923 | +€21,608 | +34.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €304 | €345 | +€41 | +13.7% |
| Recurring financial charges | 65 | €304 | €345 | +€41 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | -€62,834 | -€41,268 | +€21,567 | +34.3% |
| Profit (loss) for the period | 9904 | -€62,834 | -€41,268 | +€21,567 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,834 | -€41,268 | +€21,567 | +34.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.