Spitfire: 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.
Spitfire
Largest movements
- Cash +€359,266
up €359,266 (+35697.0%), from €1,006 to €360,272
mainly Debts after one year (+€1.2m) and Receivables within one year (+€315,568)
- Receivables within one year -€315,568
down €315,568 (-92.1%), from €342,681 to €27,113
of which Other amounts receivable: -€315,568
- Stocks and contracts +€129,062
up €129,062 (+6.5%), from €2.0m to €2.1m
- Debts after one year +€1.2m
up €1.2m, from €0 to €1.2m
- Current portion of long-term debt -€1.1m
no longer reported in 2025 (was €1.1m)
- Short-term financial debts +€36,000
up €36,000 (+2.8%), from €1.3m to €1.3m
- Gross operating margin +€7,566
up €7,566 (+63.0%), from -€12,006 to -€4,441
- Financial charges -€1,993
down €1,993 (-78.4%), from €2,544 to €551
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 | €2,358,911 | €2,517,385 | +€158,474 | +6.7% |
| Current assets | 29/58 | €2,358,911 | €2,517,385 | +€158,474 | +6.7% |
| Stocks and contracts in progress | 3 | €2,000,937 | €2,130,000 | +€129,062 | +6.5% |
| Contracts in progress | 37 | €2,000,937 | €2,130,000 | +€129,062 | +6.5% |
| Amounts receivable within one year | 40/41 | €342,681 | €27,113 | -€315,568 | -92.1% |
| Trade receivables | 40 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 41 | €317,681 | €2,113 | -€315,568 | -99.3% |
| Cash at bank and in hand | 54/58 | €1,006 | €360,272 | +€359,266 | +35697.0% |
| Deferred charges and accrued income | 490/1 | €14,286 | - | -€14,286 | |
| Total equity and liabilities | 10/49 | €2,358,911 | €2,517,385 | +€158,474 | +6.7% |
| Equity | 10/15 | -€107,157 | -€113,280 | -€6,123 | -5.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,157 | -€175,280 | -€6,123 | -3.6% |
| Amounts payable | 17/49 | €2,466,068 | €2,630,665 | +€164,598 | +6.7% |
| Amounts payable after more than one year | 17 | €0 | €1,236,433 | +€1.2m | |
| Financial debts | 170/4 | €0 | €1,236,433 | +€1.2m | |
| Amounts payable within one year | 42/48 | €2,454,762 | €1,393,426 | -€1.1m | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €1,108,429 | - | -€1.1m | |
| Financial debts | 43 | €1,264,000 | €1,300,000 | +€36,000 | +2.8% |
| Other loans | 439 | €1,264,000 | €1,300,000 | +€36,000 | +2.8% |
| Trade debts | 44 | €45,919 | €33,424 | -€12,495 | -27.2% |
| Suppliers | 440/4 | €45,919 | €33,424 | -€12,495 | -27.2% |
| Other amounts payable | 47/48 | €36,413 | €60,001 | +€23,588 | +64.8% |
| Accrued charges and deferred income | 492/3 | €11,305 | €807 | -€10,498 | -92.9% |
| Other operating charges | 640/8 | €1,190 | €1,227 | +€37 | +3.1% |
| Gross operating margin | 9900 | -€12,006 | -€4,441 | +€7,566 | +63.0% |
| Operating profit (loss) | 9901 | -€13,197 | -€5,668 | +€7,529 | +57.1% |
| Financial income | 75/76B | - | €95 | +€95 | |
| Recurring financial income | 75 | - | €95 | +€95 | |
| Financial charges | 65/66B | €2,544 | €551 | -€1,993 | -78.4% |
| Recurring financial charges | 65 | €2,544 | €551 | -€1,993 | -78.4% |
| Profit (loss) for the period before taxes | 9903 | -€15,741 | -€6,123 | +€9,617 | +61.1% |
| Profit (loss) for the period | 9904 | -€15,741 | -€6,123 | +€9,617 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,741 | -€6,123 | +€9,617 | +61.1% |
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 29 September 2026 via checked.be.