SPIRIFER: 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.
SPIRIFER
Largest movements
- Cash -€234,364
down €234,364 (-68.8%), from €340,742 to €106,378
mainly Investment in fixed assets (net) (-€347,116) and Debts after one year (-€303,013)
- Current investments +€108,866
up €108,866 (+82.5%), from €131,930 to €240,795
- Tangible fixed assets -€106,316
down €106,316 (-1.9%), from €5.6m to €5.5m
of which Land and buildings: -€82,316
- Receivables within one year -€83,628
down €83,628 (-16.3%), from €513,763 to €430,135
of which Other amounts receivable: -€102,993
- Debts after one year -€303,013
down €303,013 (-8.5%), from €3.6m to €3.3m
- Trade debts -€72,014
down €72,014 (-78.2%), from €92,101 to €20,087
- Other operating charges -€114,778
down €114,778 (-62.0%), from €185,139 to €70,361
- Gross operating margin -€100,803
down €100,803 (-6.2%), from €1.6m to €1.5m
- Financial charges -€78,042
down €78,042 (-41.0%), from €190,223 to €112,181
- Depreciation +€52,961
up €52,961 (+13.2%), from €400,471 to €453,432
- Staff costs +€51,828
up €51,828 (+6.6%), from €785,681 to €837,509
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 | €7,058,308 | €6,809,615 | -€248,693 | -3.5% |
| Fixed assets | 21/28 | €5,648,962 | €5,542,646 | -€106,316 | -1.9% |
| Tangible fixed assets | 22/27 | €5,648,461 | €5,542,145 | -€106,316 | -1.9% |
| Land and buildings | 22 | €4,837,661 | €4,755,345 | -€82,316 | -1.7% |
| Plant, machinery and equipment | 23 | €393,696 | €343,131 | -€50,565 | -12.8% |
| Furniture and vehicles | 24 | €322 | €26,888 | +€26,566 | +8253.3% |
| Assets under construction and advance payments | 27 | €416,781 | €416,781 | = | 0.0% |
| Financial fixed assets | 28 | €501 | €501 | = | 0.0% |
| Current assets | 29/58 | €1,409,346 | €1,266,969 | -€142,377 | -10.1% |
| Stocks and contracts in progress | 3 | €422,911 | €485,662 | +€62,751 | +14.8% |
| Stocks | 30/36 | €422,911 | €485,662 | +€62,751 | +14.8% |
| Amounts receivable within one year | 40/41 | €513,763 | €430,135 | -€83,628 | -16.3% |
| Trade receivables | 40 | €352,281 | €371,646 | +€19,364 | +5.5% |
| Other amounts receivable | 41 | €161,482 | €58,489 | -€102,993 | -63.8% |
| Current investments | 50/53 | €131,930 | €240,795 | +€108,866 | +82.5% |
| Cash at bank and in hand | 54/58 | €340,742 | €106,378 | -€234,364 | -68.8% |
| Deferred charges and accrued income | 490/1 | - | €3,998 | +€3,998 | |
| Total equity and liabilities | 10/49 | €7,058,308 | €6,809,615 | -€248,693 | -3.5% |
| Equity | 10/15 | €3,097,456 | €3,145,801 | +€48,344 | +1.6% |
| Contributions | 10/11 | €303,670 | €303,670 | = | 0.0% |
| Capital | 10 | €303,670 | €303,670 | = | 0.0% |
| Issued capital | 100 | €303,670 | €303,670 | = | 0.0% |
| Revaluation surpluses | 12 | €122,010 | €122,010 | = | 0.0% |
| Reserves | 13 | €42,278 | €42,278 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,367 | €30,367 | = | 0.0% |
| Legal reserve | 130 | €30,367 | €30,367 | = | 0.0% |
| Distributable reserves | 133 | €11,911 | €11,911 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,442,869 | €2,499,639 | +€56,771 | +2.3% |
| Investment grants | 15 | €186,630 | €178,203 | -€8,427 | -4.5% |
| Amounts payable | 17/49 | €3,960,852 | €3,663,814 | -€297,037 | -7.5% |
| Amounts payable after more than one year | 17 | €3,571,250 | €3,268,237 | -€303,013 | -8.5% |
| Financial debts | 170/4 | €3,571,250 | €3,268,237 | -€303,013 | -8.5% |
| Amounts payable within one year | 42/48 | €389,602 | €395,577 | +€5,975 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,947 | +€9,947 | |
| Trade debts | 44 | €92,101 | €20,087 | -€72,014 | -78.2% |
| Suppliers | 440/4 | €92,101 | €20,087 | -€72,014 | -78.2% |
| Taxes, remuneration and social security | 45 | €124,901 | €129,460 | +€4,559 | +3.6% |
| Taxes | 450/3 | €37,711 | €15,319 | -€22,392 | -59.4% |
| Remuneration and social security | 454/9 | €87,191 | €114,141 | +€26,950 | +30.9% |
| Other amounts payable | 47/48 | €172,599 | €236,082 | +€63,483 | +36.8% |
| Remuneration, social security and pensions | 62 | €785,681 | €837,509 | +€51,828 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400,471 | €453,432 | +€52,961 | +13.2% |
| Other operating charges | 640/8 | €185,139 | €70,361 | -€114,778 | -62.0% |
| Non-recurring operating charges | 66A | €217 | - | -€217 | |
| Gross operating margin | 9900 | €1,628,090 | €1,527,287 | -€100,803 | -6.2% |
| Operating profit (loss) | 9901 | €256,581 | €165,984 | -€90,596 | -35.3% |
| Financial income | 75/76B | €26,908 | €30,235 | +€3,327 | +12.4% |
| Recurring financial income | 75 | €26,908 | €30,235 | +€3,327 | +12.4% |
| Financial charges | 65/66B | €190,223 | €112,181 | -€78,042 | -41.0% |
| Recurring financial charges | 65 | €190,223 | €112,181 | -€78,042 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €93,266 | €84,038 | -€9,228 | -9.9% |
| Income taxes | 67/77 | €35,575 | €27,268 | -€8,307 | -23.4% |
| Profit (loss) for the period | 9904 | €57,692 | €56,771 | -€921 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,692 | €56,771 | -€921 | -1.6% |
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 28 September 2026 via checked.be.