SPIVAL: 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.
SPIVAL
Largest movements
- Cash +€5,936
up €5,936 (+69.3%), from €8,563 to €14,499
mainly Net result for the year (+€39,683) and Advances received (+€13,577)
- Receivables within one year +€2,067
up €2,067 (+4.7%), from €44,442 to €46,509
of which Other amounts receivable: +€26,061
- Tangible fixed assets +€1,792
up €1,792 (+18.3%), from €9,790 to €11,582
- Trade debts -€37,049
down €37,049 (-89.4%), from €41,442 to €4,393
- Reserves +€32,657
up €32,657 (+1048.7%), from €3,114 to €35,771
of which Distributable reserves: +€32,657
- Advances received +€13,577
new in 2025: €13,577
- Profit (loss) carried forward +€7,026
up €7,026, from -€7,026 to €0
- Tax, wage and social debts -€6,342
down €6,342 (-82.9%), from €7,648 to €1,305
- Gross operating margin +€54,213
up €54,213 (+1260.1%), from €4,302 to €58,515
- Taxes +€11,305
new in 2025: €11,305
- Depreciation -€3,832
down €3,832 (-82.5%), from €4,647 to €815
- Financial charges +€2,978
up €2,978 (+302.3%), from €985 to €3,963
- Other operating charges -€836
down €836 (-49.1%), from €1,703 to €867
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 | €63,778 | €73,646 | +€9,868 | +15.5% |
| Fixed assets | 21/28 | €9,790 | €11,582 | +€1,792 | +18.3% |
| Tangible fixed assets | 22/27 | €9,790 | €11,582 | +€1,792 | +18.3% |
| Furniture and vehicles | 24 | €9,790 | €11,582 | +€1,792 | +18.3% |
| Current assets | 29/58 | €53,988 | €62,064 | +€8,076 | +15.0% |
| Amounts receivable within one year | 40/41 | €44,442 | €46,509 | +€2,067 | +4.7% |
| Trade receivables | 40 | €31,194 | €7,200 | -€23,994 | -76.9% |
| Other amounts receivable | 41 | €13,248 | €39,308 | +€26,061 | +196.7% |
| Cash at bank and in hand | 54/58 | €8,563 | €14,499 | +€5,936 | +69.3% |
| Deferred charges and accrued income | 490/1 | €983 | €1,057 | +€74 | +7.5% |
| Total equity and liabilities | 10/49 | €63,778 | €73,646 | +€9,868 | +15.5% |
| Equity | 10/15 | €14,688 | €54,371 | +€39,683 | +270.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,114 | €35,771 | +€32,657 | +1048.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €1,254 | €33,911 | +€32,657 | +2604.0% |
| Profit (loss) carried forward | 14 | -€7,026 | €0 | +€7,026 | |
| Amounts payable | 17/49 | €49,090 | €19,275 | -€29,815 | -60.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €49,090 | €19,275 | -€29,815 | -60.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €41,442 | €4,393 | -€37,049 | -89.4% |
| Suppliers | 440/4 | €41,442 | €4,393 | -€37,049 | -89.4% |
| Advances received on contracts in progress | 46 | - | €13,577 | +€13,577 | |
| Taxes, remuneration and social security | 45 | €7,648 | €1,305 | -€6,342 | -82.9% |
| Taxes | 450/3 | €7,648 | €1,305 | -€6,342 | -82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,647 | €815 | -€3,832 | -82.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,703 | €867 | -€836 | -49.1% |
| Non-recurring operating charges | 66A | - | €2,765 | +€2,765 | |
| Gross operating margin | 9900 | €4,302 | €58,515 | +€54,213 | +1260.1% |
| Operating profit (loss) | 9901 | -€2,047 | €54,068 | +€56,116 | |
| Financial income | 75/76B | €810 | €883 | +€73 | +9.0% |
| Recurring financial income | 75 | €810 | €883 | +€73 | +9.0% |
| Financial charges | 65/66B | €985 | €3,963 | +€2,978 | +302.3% |
| Recurring financial charges | 65 | €985 | €3,963 | +€2,978 | +302.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,223 | €50,988 | +€53,211 | |
| Income taxes | 67/77 | - | €11,305 | +€11,305 | |
| Profit (loss) for the period | 9904 | -€2,223 | €39,683 | +€41,906 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,223 | €39,683 | +€41,906 |
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 4 October 2026 via checked.be.