Spivak Eden: what changed
Spivak Eden
Largest movements
- Receivables within one year -€23,582
down €23,582 (-49.8%), from €47,362 to €23,779
of which Trade receivables: -€14,379
- Cash +€15,471
up €15,471 (+10.4%), from €149,361 to €164,833
mainly Other debts (+€199,587) and Net result for the year (+€63,124)
- Tangible fixed assets -€8,968
down €8,968 (-38.9%), from €23,027 to €14,059
of which Furniture and vehicles: -€10,661
- Deferred charges and accrued income -€7,243
down €7,243 (-61.0%), from €11,878 to €4,635
- Reserves -€208,392
no longer reported in 2025 (was €208,392)
- Other debts +€199,587
new in 2025: €199,587
- Trade debts -€9,864
down €9,864 (-89.4%), from €11,033 to €1,170
- Tax, wage and social debts -€6,267
down €6,267 (-77.0%), from €8,142 to €1,875
- Gross operating margin -€57,747
down €57,747 (-37.0%), from €155,909 to €98,162
- Taxes -€15,172
down €15,172 (-45.9%), from €33,067 to €17,895
- Financial charges +€7,334
up €7,334 (+7,654%), from €96 to €7,430
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €231,628 | €207,306 | -€24,323 | -10.5% |
| Fixed assets | 21/28 | €23,027 | €14,059 | -€8,968 | -38.9% |
| Tangible fixed assets | 22/27 | €23,027 | €14,059 | -€8,968 | -38.9% |
| Plant, machinery and equipment | 23 | - | €1,693 | +€1,693 | |
| Furniture and vehicles | 24 | €23,027 | €12,366 | -€10,661 | -46.3% |
| Current assets | 29/58 | €208,601 | €193,247 | -€15,355 | -7.4% |
| Amounts receivable within one year | 40/41 | €47,362 | €23,779 | -€23,582 | -49.8% |
| Trade receivables | 40 | €26,054 | €11,675 | -€14,379 | -55.2% |
| Other amounts receivable | 41 | €21,308 | €12,105 | -€9,203 | -43.2% |
| Cash at bank and in hand | 54/58 | €149,361 | €164,833 | +€15,471 | +10.4% |
| Deferred charges and accrued income | 490/1 | €11,878 | €4,635 | -€7,243 | -61.0% |
| Total equity and liabilities | 10/49 | €231,628 | €207,306 | -€24,323 | -10.5% |
| Equity | 10/15 | €212,392 | €4,000 | -€208,392 | -98.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €208,392 | - | -€208,392 | |
| Distributable reserves | 133 | €208,392 | - | -€208,392 | |
| Amounts payable | 17/49 | €19,237 | €203,306 | +€184,069 | +957% |
| Amounts payable within one year | 42/48 | €19,176 | €202,631 | +€183,456 | +957% |
| Trade debts | 44 | €11,033 | €1,170 | -€9,864 | -89.4% |
| Suppliers | 440/4 | €11,033 | €1,170 | -€9,864 | -89.4% |
| Taxes, remuneration and social security | 45 | €8,142 | €1,875 | -€6,267 | -77.0% |
| Taxes | 450/3 | €8,142 | €1,875 | -€6,267 | -77.0% |
| Other amounts payable | 47/48 | - | €199,587 | +€199,587 | |
| Accrued charges and deferred income | 492/3 | €61 | €674 | +€613 | +1,005% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,868 | €8,968 | +€100 | +1.1% |
| Other operating charges | 640/8 | €1,282 | €1,232 | -€50 | -3.9% |
| Non-recurring operating charges | 66A | €1,943 | - | -€1,943 | |
| Gross operating margin | 9900 | €155,909 | €98,162 | -€57,747 | -37.0% |
| Operating profit (loss) | 9901 | €143,815 | €87,962 | -€55,853 | -38.8% |
| Financial income | 75/76B | - | €487 | +€487 | |
| Recurring financial income | 75 | - | €487 | +€487 | |
| Financial charges | 65/66B | €96 | €7,430 | +€7,334 | +7,654% |
| Recurring financial charges | 65 | €96 | €7,430 | +€7,334 | +7,654% |
| Profit (loss) for the period before taxes | 9903 | €143,720 | €81,019 | -€62,700 | -43.6% |
| Income taxes | 67/77 | €33,067 | €17,895 | -€15,172 | -45.9% |
| Profit (loss) for the period | 9904 | €110,652 | €63,124 | -€47,528 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €110,652 | €63,124 | -€47,528 | -43.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.