SPITS: 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.
What changed
SPITS
NACE 01.430, Raising of horses and other equines
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€75,556
2024 · €462,819-€387,263
Equity
€962,976
2024 · €887,420+€75,556
Cash
€2,923
2024 · €7,295-€4,372
Balance sheet total
€5.0m
2024 · €5.2m-€146,403
Largest movements
Assets
- Stocks and contracts +€204,576
up €204,576 (+26.7%), from €767,175 to €971,751
- Deferred charges and accrued income -€184,196
down €184,196 (-80.4%), from €229,087 to €44,891
- Tangible fixed assets -€182,281
down €182,281 (-7.9%), from €2.3m to €2.1m
Equity and liabilities
- Debts after one year -€206,274
down €206,274 (-11.2%), from €1.8m to €1.6m
of which Financial debts: -€213,775
- Trade debts -€137,670
down €137,670 (-45.4%), from €303,343 to €165,673
- Profit (loss) carried forward +€75,556
up €75,556 (+54.3%), from €139,079 to €214,635
Income statement
- Purchases and services +€583,359
up €583,359 (+27.2%), from €2.1m to €2.7m
- Gross operating margin -€335,394
down €335,394 (-27.7%), from €1.2m to €876,506
- Turnover +€87,714
up €87,714 (+3.2%), from €2.7m to €2.8m
- Depreciation +€82,895
up €82,895 (+31.9%), from €259,900 to €342,795
- Staff costs +€54,084
up €54,084 (+18.7%), from €289,564 to €343,648
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.
Result 2024
€462,819
Gross operating margin
-€335,394
Staff costs
-€54,084
Depreciation
-€82,895
Other operating charges
-€4,597
Other operating items
+€5,638
Financial income
+€1
Financial charges
+€1,763
Taxes
-€42,695
Deferred taxes and other
+€125,000
Result 2025
€75,556
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.
From operations
+€369,777
Investment
-€160,514
Financing
-€213,635
Cash 2024
€7,295
From operations (derived)
+€369,777
Net result for the year
+€75,556
Depreciation
+€342,795
Stocks and contracts
-€204,576
Receivables within one year
-€19,870
Deferred charges and accrued income
+€184,196
Trade debts
-€137,670
Tax, wage and social debts
+€29,966
Other debts
+€49,886
Accrued charges and deferred income
+€49,494
Investment (derived)
-€160,514
Investment in fixed assets (net)
-€160,514
Financing
-€213,635
Debts after one year
-€206,274
Current portion of long-term debt
-€8,401
Short-term financial debts
+€1,040
Cash 2025
€2,923
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,190,211 | €5,043,808 | -€146,403 | -2.8% |
| Fixed assets | 21/28 | €4,125,999 | €3,943,718 | -€182,281 | -4.4% |
| Tangible fixed assets | 22/27 | €2,293,870 | €2,111,589 | -€182,281 | -7.9% |
| Land and buildings | 22 | €1,303,522 | €1,245,091 | -€58,431 | -4.5% |
| Plant, machinery and equipment | 23 | €552,401 | €475,598 | -€76,803 | -13.9% |
| Furniture and vehicles | 24 | €71,164 | €98,717 | +€27,553 | +38.7% |
| Leasing and similar rights | 25 | €366,783 | €292,183 | -€74,600 | -20.3% |
| Financial fixed assets | 28 | €1,832,129 | €1,832,129 | = | 0.0% |
| Current assets | 29/58 | €1,064,212 | €1,100,090 | +€35,878 | +3.4% |
| Stocks and contracts in progress | 3 | €767,175 | €971,751 | +€204,576 | +26.7% |
| Stocks | 30/36 | €767,175 | €971,751 | +€204,576 | +26.7% |
| Amounts receivable within one year | 40/41 | €60,655 | €80,525 | +€19,870 | +32.8% |
| Trade receivables | 40 | €43,201 | €58,745 | +€15,544 | +36.0% |
| Other amounts receivable | 41 | €17,454 | €21,780 | +€4,326 | +24.8% |
| Cash at bank and in hand | 54/58 | €7,295 | €2,923 | -€4,372 | -59.9% |
| Deferred charges and accrued income | 490/1 | €229,087 | €44,891 | -€184,196 | -80.4% |
| Total equity and liabilities | 10/49 | €5,190,211 | €5,043,808 | -€146,403 | -2.8% |
| Equity | 10/15 | €887,420 | €962,976 | +€75,556 | +8.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €729,341 | €729,341 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €375,000 | €375,000 | = | 0.0% |
| Distributable reserves | 133 | €352,441 | €352,441 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,079 | €214,635 | +€75,556 | +54.3% |
| Provisions and deferred taxes | 16 | €125,000 | €125,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | - | €125,000 | +€125,000 | |
| Taxes | 161 | - | €125,000 | +€125,000 | |
| Deferred taxes | 168 | €125,000 | - | -€125,000 | |
| Amounts payable | 17/49 | €4,177,791 | €3,955,832 | -€221,959 | -5.3% |
| Amounts payable after more than one year | 17 | €1,847,929 | €1,641,655 | -€206,274 | -11.2% |
| Financial debts | 170/4 | €1,075,430 | €861,655 | -€213,775 | -19.9% |
| Other amounts payable | 178/9 | €772,499 | €780,000 | +€7,501 | +1.0% |
| Amounts payable within one year | 42/48 | €2,242,418 | €2,177,239 | -€65,179 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €179,885 | €171,484 | -€8,401 | -4.7% |
| Financial debts | 43 | €58,960 | €60,000 | +€1,040 | +1.8% |
| Credit institutions | 430/8 | €58,960 | €60,000 | +€1,040 | +1.8% |
| Trade debts | 44 | €303,343 | €165,673 | -€137,670 | -45.4% |
| Suppliers | 440/4 | €303,343 | €165,673 | -€137,670 | -45.4% |
| Taxes, remuneration and social security | 45 | €34,223 | €64,189 | +€29,966 | +87.6% |
| Taxes | 450/3 | €6,043 | €17,908 | +€11,865 | +196.3% |
| Remuneration and social security | 454/9 | €28,180 | €46,281 | +€18,101 | +64.2% |
| Other amounts payable | 47/48 | €1,666,007 | €1,715,893 | +€49,886 | +3.0% |
| Accrued charges and deferred income | 492/3 | €87,444 | €136,938 | +€49,494 | +56.6% |
| Turnover | 70 | €2,740,384 | €2,828,098 | +€87,714 | +3.2% |
| Non-recurring operating income | 76A | €618,915 | €13,032 | -€605,883 | -97.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,147,399 | €2,730,758 | +€583,359 | +27.2% |
| Remuneration, social security and pensions | 62 | €289,564 | €343,648 | +€54,084 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €259,900 | €342,795 | +€82,895 | +31.9% |
| Other operating charges | 640/8 | €13,284 | €17,881 | +€4,597 | +34.6% |
| Non-recurring operating charges | 66A | €5,838 | €200 | -€5,638 | -96.6% |
| Gross operating margin | 9900 | €1,211,900 | €876,506 | -€335,394 | -27.7% |
| Operating profit (loss) | 9901 | €643,314 | €171,982 | -€471,332 | -73.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €50,672 | €48,909 | -€1,763 | -3.5% |
| Recurring financial charges | 65 | €50,672 | €48,909 | -€1,763 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €592,642 | €123,074 | -€469,568 | -79.2% |
| Transfer to deferred taxes | 680 | €125,000 | - | -€125,000 | |
| Income taxes | 67/77 | €4,823 | €47,518 | +€42,695 | +885.2% |
| Profit (loss) for the period | 9904 | €462,819 | €75,556 | -€387,263 | -83.7% |
| Profit (loss) for the period to be appropriated | 9905 | €462,819 | €75,556 | -€387,263 | -83.7% |
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 8 October 2026 via checked.be.