SPIRO: 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.
SPIRO
Largest movements
- Financial fixed assets -€25,750
down €25,750 (-100.0%), from €25,750 to €0
- Current investments +€24,000
new in 2025: €24,000
- Tangible fixed assets -€12,735
down €12,735 (-2.9%), from €439,791 to €427,056
of which Land and buildings: -€17,894
- Receivables within one year +€8,882
up €8,882 (+75.3%), from €11,800 to €20,682
of which Other amounts receivable: +€5,384
- Cash +€7,828
up €7,828 (+22.7%), from €34,469 to €42,297
mainly Net result for the year (+€60,570) and Other debts (+€24,454)
- Debts after one year -€25,967
down €25,967 (-10.8%), from €241,015 to €215,049
- Other debts +€24,454
up €24,454 (+37.2%), from €65,730 to €90,184
- Profit (loss) carried forward +€20,570
up €20,570, from -€19,379 to €1,191
- Reserves -€11,000
down €11,000 (-6.8%), from €162,550 to €151,550
of which Distributable reserves: -€11,000
- Financial income +€34,612
up €34,612 (+17747.0%), from €195 to €34,807
of which Non-recurring financial income: +€34,250
- Financial charges -€3,621
down €3,621 (-29.1%), from €12,446 to €8,825
- Taxes +€2,169
up €2,169 (+17.2%), from €12,600 to €14,769
- Depreciation +€786
up €786 (+4.1%), from €19,056 to €19,842
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 | €514,940 | €516,446 | +€1,506 | +0.3% |
| Fixed assets | 21/28 | €465,541 | €427,056 | -€38,485 | -8.3% |
| Tangible fixed assets | 22/27 | €439,791 | €427,056 | -€12,735 | -2.9% |
| Land and buildings | 22 | €430,322 | €412,428 | -€17,894 | -4.2% |
| Plant, machinery and equipment | 23 | €7,132 | €6,253 | -€880 | -12.3% |
| Furniture and vehicles | 24 | €2,336 | €8,375 | +€6,039 | +258.5% |
| Financial fixed assets | 28 | €25,750 | €0 | -€25,750 | -100.0% |
| Current assets | 29/58 | €49,399 | €89,390 | +€39,991 | +81.0% |
| Amounts receivable within one year | 40/41 | €11,800 | €20,682 | +€8,882 | +75.3% |
| Trade receivables | 40 | €9,831 | €13,329 | +€3,498 | +35.6% |
| Other amounts receivable | 41 | €1,969 | €7,353 | +€5,384 | +273.4% |
| Current investments | 50/53 | - | €24,000 | +€24,000 | |
| Cash at bank and in hand | 54/58 | €34,469 | €42,297 | +€7,828 | +22.7% |
| Deferred charges and accrued income | 490/1 | €3,130 | €2,411 | -€719 | -23.0% |
| Total equity and liabilities | 10/49 | €514,940 | €516,446 | +€1,506 | +0.3% |
| Equity | 10/15 | €143,671 | €153,241 | +€9,570 | +6.7% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €162,550 | €151,550 | -€11,000 | -6.8% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50 | €50 | = | 0.0% |
| Distributable reserves | 133 | €162,500 | €151,500 | -€11,000 | -6.8% |
| Profit (loss) carried forward | 14 | -€19,379 | €1,191 | +€20,570 | |
| Amounts payable | 17/49 | €371,268 | €363,205 | -€8,063 | -2.2% |
| Amounts payable after more than one year | 17 | €241,015 | €215,049 | -€25,967 | -10.8% |
| Financial debts | 170/4 | €241,015 | €215,049 | -€25,967 | -10.8% |
| Amounts payable within one year | 42/48 | €128,038 | €145,753 | +€17,715 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €42,204 | €37,824 | -€4,380 | -10.4% |
| Financial debts | 43 | €4,194 | €4,046 | -€148 | -3.5% |
| Credit institutions | 430/8 | €4,194 | €4,046 | -€148 | -3.5% |
| Trade debts | 44 | €1,572 | €3,212 | +€1,640 | +104.3% |
| Suppliers | 440/4 | €1,572 | €3,212 | +€1,640 | +104.3% |
| Taxes, remuneration and social security | 45 | €14,338 | €10,488 | -€3,851 | -26.9% |
| Taxes | 450/3 | €12,392 | €8,542 | -€3,851 | -31.1% |
| Remuneration and social security | 454/9 | €1,946 | €1,946 | = | 0.0% |
| Other amounts payable | 47/48 | €65,730 | €90,184 | +€24,454 | +37.2% |
| Accrued charges and deferred income | 492/3 | €2,215 | €2,403 | +€189 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,056 | €19,842 | +€786 | +4.1% |
| Other operating charges | 640/8 | €2,088 | €1,816 | -€272 | -13.0% |
| Gross operating margin | 9900 | €71,124 | €71,016 | -€108 | -0.2% |
| Operating profit (loss) | 9901 | €49,980 | €49,357 | -€623 | -1.2% |
| Financial income | 75/76B | €195 | €34,807 | +€34,612 | +17747.0% |
| Recurring financial income | 75 | €195 | €557 | +€362 | +185.6% |
| Non-recurring financial income | 76B | - | €34,250 | +€34,250 | |
| Financial charges | 65/66B | €12,446 | €8,825 | -€3,621 | -29.1% |
| Recurring financial charges | 65 | €12,446 | €8,825 | -€3,621 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €37,729 | €75,339 | +€37,610 | +99.7% |
| Income taxes | 67/77 | €12,600 | €14,769 | +€2,169 | +17.2% |
| Profit (loss) for the period | 9904 | €25,129 | €60,570 | +€35,441 | +141.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,129 | €60,570 | +€35,441 | +141.0% |
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 6 October 2026 via checked.be.