SPLENDOR CONSULT: 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.
SPLENDOR CONSULT
Largest movements
- Tangible fixed assets -€18,292
down €18,292 (-4.0%), from €460,833 to €442,542
- Receivables within one year -€16,414
down €16,414 (-8.4%), from €195,771 to €179,357
of which Trade receivables: -€23,200
- Cash -€9,935
down €9,935 (-97.5%), from €10,192 to €258
mainly Trade debts (-€29,923) and Current portion of long-term debt (-€18,588)
- Trade debts -€29,923
down €29,923 (-73.0%), from €40,975 to €11,052
- Current portion of long-term debt -€18,588
down €18,588 (-55.9%), from €33,233 to €14,645
- Debts after one year -€12,123
down €12,123 (-5.5%), from €220,801 to €208,678
- Profit (loss) carried forward +€7,478
no longer reported in 2025 (was -€7,478)
- Staff costs -€24,073
down €24,073 (-99.7%), from €24,156 to €83
- Gross operating margin -€3,052
down €3,052 (-6.1%), from €50,129 to €47,077
- Taxes +€2,262
up €2,262 (+196.0%), from €1,154 to €3,416
- Financial charges -€2,011
down €2,011 (-21.4%), from €9,381 to €7,370
- Depreciation -€765
down €765 (-4.0%), from €19,057 to €18,292
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 | €667,300 | €622,179 | -€45,121 | -6.8% |
| Fixed assets | 21/28 | €460,833 | €442,542 | -€18,292 | -4.0% |
| Tangible fixed assets | 22/27 | €460,833 | €442,542 | -€18,292 | -4.0% |
| Land and buildings | 22 | €460,833 | €442,542 | -€18,292 | -4.0% |
| Current assets | 29/58 | €206,467 | €179,638 | -€26,829 | -13.0% |
| Amounts receivable within one year | 40/41 | €195,771 | €179,357 | -€16,414 | -8.4% |
| Trade receivables | 40 | €195,771 | €172,570 | -€23,200 | -11.9% |
| Other amounts receivable | 41 | - | €6,787 | +€6,787 | |
| Cash at bank and in hand | 54/58 | €10,192 | €258 | -€9,935 | -97.5% |
| Deferred charges and accrued income | 490/1 | €503 | €23 | -€480 | -95.4% |
| Total equity and liabilities | 10/49 | €667,300 | €622,179 | -€45,121 | -6.8% |
| Equity | 10/15 | €353,334 | €367,174 | +€13,840 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €342,213 | €348,574 | +€6,362 | +1.9% |
| Distributable reserves | 133 | €342,213 | €348,574 | +€6,362 | +1.9% |
| Profit (loss) carried forward | 14 | -€7,478 | - | +€7,478 | |
| Amounts payable | 17/49 | €313,966 | €255,005 | -€58,961 | -18.8% |
| Amounts payable after more than one year | 17 | €220,801 | €208,678 | -€12,123 | -5.5% |
| Financial debts | 170/4 | €220,801 | €208,678 | -€12,123 | -5.5% |
| Amounts payable within one year | 42/48 | €90,665 | €46,327 | -€44,337 | -48.9% |
| Current portion of amounts payable after more than one year | 42 | €33,233 | €14,645 | -€18,588 | -55.9% |
| Trade debts | 44 | €40,975 | €11,052 | -€29,923 | -73.0% |
| Suppliers | 440/4 | €40,975 | €11,052 | -€29,923 | -73.0% |
| Taxes, remuneration and social security | 45 | €4,376 | €8,549 | +€4,173 | +95.4% |
| Taxes | 450/3 | €2,557 | €8,549 | +€5,992 | +234.4% |
| Remuneration and social security | 454/9 | €1,819 | - | -€1,819 | |
| Other amounts payable | 47/48 | €12,081 | €12,081 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €24,156 | €83 | -€24,073 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,057 | €18,292 | -€765 | -4.0% |
| Other operating charges | 640/8 | €3,860 | €4,076 | +€216 | +5.6% |
| Gross operating margin | 9900 | €50,129 | €47,077 | -€3,052 | -6.1% |
| Operating profit (loss) | 9901 | €3,056 | €24,626 | +€21,570 | +705.7% |
| Financial charges | 65/66B | €9,381 | €7,370 | -€2,011 | -21.4% |
| Recurring financial charges | 65 | €9,381 | €7,370 | -€2,011 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,325 | €17,256 | +€23,580 | |
| Income taxes | 67/77 | €1,154 | €3,416 | +€2,262 | +196.0% |
| Profit (loss) for the period | 9904 | -€7,478 | €13,840 | +€21,318 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,478 | €13,840 | +€21,318 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.