SPLIFAR: 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
SPLIFAR
NACE 29.320, Manufacture of motor vehicles, trailers and semi-trailers
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€747,977
2024 · -€198,398+€946,375
Equity
€5.7m
2024 · €4.9m+€747,977
Cash
€258,118
2024 · €272,517-€14,399
Balance sheet total
€31.5m
2024 · €24.9m+€6.6m
Largest movements
Assets
- Tangible fixed assets +€3.3m
up €3.3m (+31.0%), from €10.7m to €14.0m
of which Assets under construction and advance payments: +€3.7m
- Receivables within one year +€2.7m
up €2.7m (+30.2%), from €8.8m to €11.5m
of which Trade receivables: +€2.7m
- Stocks and contracts +€646,720
up €646,720 (+13.5%), from €4.8m to €5.4m
Equity and liabilities
- Debts after one year +€2.5m
up €2.5m (+76.9%), from €3.2m to €5.7m
- Advances received +€1.1m
up €1.1m (+30.6%), from €3.7m to €4.8m
- Profit (loss) carried forward +€710,578
up €710,578 (+31.4%), from €2.3m to €3.0m
- Tax, wage and social debts +€705,488
up €705,488 (+115.4%), from €611,245 to €1.3m
of which Taxes: +€557,594
- Other debts +€699,681
new in 2025: €699,681
Income statement
- Turnover +€4.3m
up €4.3m (+14.0%), from €30.5m to €34.7m
- Goods and materials +€2.0m
up €2.0m (+10.9%), from €18.7m to €20.7m
of which Purchases: +€2.4m
- Staff costs +€413,713
up €413,713 (+10.2%), from €4.1m to €4.5m
- Taxes +€374,036
up €374,036 (+1168.9%), from €32,000 to €406,036
of which Taxes: +€374,833
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
-€198,398
Turnover
+€4.3m
Other operating income
+€268,014
Goods and materials
-€2.0m
Services and other goods
-€211,950
Staff costs
-€413,713
Depreciation
-€23,203
Other operating charges
-€106,974
Other operating items
-€380,184
Financial income
-€37,041
Financial charges
-€2,776
Taxes
-€374,036
Result 2025
€747,977
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
+€1.9m
Investment
-€4.9m
Financing
+€3.0m
Cash 2024
€272,517
From operations (derived)
+€1.9m
Net result for the year
+€747,977
Depreciation
+€1.6m
Stocks and contracts
-€646,720
Receivables within one year
-€2.7m
Deferred charges and accrued income
-€17,689
Trade debts
+€373,564
Tax, wage and social debts
+€705,488
Advances received
+€1.1m
Other debts
+€699,681
Accrued charges and deferred income
-€17,720
Investment (derived)
-€4.9m
Investment in fixed assets (net)
-€4.9m
Financing
+€3.0m
Debts after one year
+€2.5m
Current portion of long-term debt
-€122,489
Short-term financial debts
+€628,186
Cash 2025
€258,118
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,871,118 | €31,491,276 | +€6.6m | +26.6% |
| Fixed assets | 21/28 | €11,014,382 | €14,327,521 | +€3.3m | +30.1% |
| Intangible fixed assets | 21 | €34,509 | €24,706 | -€9,803 | -28.4% |
| Tangible fixed assets | 22/27 | €10,719,839 | €14,042,781 | +€3.3m | +31.0% |
| Plant, machinery and equipment | 23 | €2,139,000 | €2,035,979 | -€103,021 | -4.8% |
| Furniture and vehicles | 24 | €101,226 | €124,602 | +€23,376 | +23.1% |
| Leasing and similar rights | 25 | €2,243,310 | €1,770,537 | -€472,773 | -21.1% |
| Other tangible fixed assets | 26 | €722,527 | €935,444 | +€212,917 | +29.5% |
| Assets under construction and advance payments | 27 | €5,513,776 | €9,176,219 | +€3.7m | +66.4% |
| Financial fixed assets | 28 | €260,034 | €260,034 | = | 0.0% |
| Other financial fixed assets | 284/8 | €260,034 | €260,034 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €260,034 | €260,034 | = | 0.0% |
| Current assets | 29/58 | €13,856,736 | €17,163,755 | +€3.3m | +23.9% |
| Stocks and contracts in progress | 3 | €4,777,178 | €5,423,898 | +€646,720 | +13.5% |
| Stocks | 30/36 | €4,777,178 | €5,423,898 | +€646,720 | +13.5% |
| Raw materials and consumables | 30/31 | €2,954,717 | €3,332,836 | +€378,119 | +12.8% |
| Work in progress | 32 | €1,765,287 | €1,907,151 | +€141,864 | +8.0% |
| Goods purchased for resale | 34 | €14,714 | €35,224 | +€20,510 | +139.4% |
| Advance payments | 36 | €42,460 | €148,687 | +€106,227 | +250.2% |
| Amounts receivable within one year | 40/41 | €8,801,603 | €11,458,612 | +€2.7m | +30.2% |
| Trade receivables | 40 | €8,391,674 | €11,102,542 | +€2.7m | +32.3% |
| Other amounts receivable | 41 | €409,929 | €356,070 | -€53,859 | -13.1% |
| Cash at bank and in hand | 54/58 | €272,517 | €258,118 | -€14,399 | -5.3% |
| Deferred charges and accrued income | 490/1 | €5,438 | €23,127 | +€17,689 | +325.3% |
| Total equity and liabilities | 10/49 | €24,871,118 | €31,491,276 | +€6.6m | +26.6% |
| Equity | 10/15 | €4,927,211 | €5,675,188 | +€747,977 | +15.2% |
| Contributions | 10/11 | €2,560,394 | €2,560,394 | = | 0.0% |
| Capital | 10 | €2,560,394 | €2,560,394 | = | 0.0% |
| Issued capital | 100 | €2,560,394 | €2,560,394 | = | 0.0% |
| Reserves | 13 | €102,077 | €139,476 | +€37,399 | +36.6% |
| Non-distributable reserves | 130/1 | €102,077 | €139,476 | +€37,399 | +36.6% |
| Legal reserve | 130 | €102,077 | €139,476 | +€37,399 | +36.6% |
| Profit (loss) carried forward | 14 | €2,264,740 | €2,975,318 | +€710,578 | +31.4% |
| Amounts payable | 17/49 | €19,943,907 | €25,816,088 | +€5.9m | +29.4% |
| Amounts payable after more than one year | 17 | €3,213,197 | €5,684,310 | +€2.5m | +76.9% |
| Financial debts | 170/4 | €3,213,197 | €5,684,310 | +€2.5m | +76.9% |
| Leasing and similar obligations | 172 | €2,122,797 | €4,852,918 | +€2.7m | +128.6% |
| Credit institutions | 173 | €1,090,400 | €831,392 | -€259,008 | -23.8% |
| Amounts payable within one year | 42/48 | €16,480,337 | €19,899,125 | +€3.4m | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €4,413,041 | €4,290,552 | -€122,489 | -2.8% |
| Financial debts | 43 | €2,294,325 | €2,922,511 | +€628,186 | +27.4% |
| Credit institutions | 430/8 | €2,294,325 | €2,922,511 | +€628,186 | +27.4% |
| Trade debts | 44 | €5,452,711 | €5,826,275 | +€373,564 | +6.9% |
| Suppliers | 440/4 | €5,452,711 | €5,826,275 | +€373,564 | +6.9% |
| Advances received on contracts in progress | 46 | €3,709,015 | €4,843,373 | +€1.1m | +30.6% |
| Taxes, remuneration and social security | 45 | €611,245 | €1,316,733 | +€705,488 | +115.4% |
| Taxes | 450/3 | €25,200 | €582,794 | +€557,594 | +2212.7% |
| Remuneration and social security | 454/9 | €586,045 | €733,939 | +€147,894 | +25.2% |
| Other amounts payable | 47/48 | - | €699,681 | +€699,681 | |
| Accrued charges and deferred income | 492/3 | €250,373 | €232,653 | -€17,720 | -7.1% |
| Operating income | 70/76A | €31,935,743 | €36,081,238 | +€4.1m | +13.0% |
| Turnover | 70 | €30,469,048 | €34,728,056 | +€4.3m | +14.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €402,195 | -€19,952 | -€422,147 | |
| Own construction capitalised | 72 | €558,297 | €598,917 | +€40,620 | +7.3% |
| Other operating income | 74 | €506,203 | €774,217 | +€268,014 | +52.9% |
| Operating charges | 60/66A | €31,649,999 | €34,435,266 | +€2.8m | +8.8% |
| Goods for resale, raw materials and consumables | 60 | €18,705,607 | €20,736,377 | +€2.0m | +10.9% |
| Purchases | 600/8 | €18,874,582 | €21,296,821 | +€2.4m | +12.8% |
| Change in stocks: decrease (increase) | 609 | -€168,975 | -€560,444 | -€391,469 | -231.7% |
| Services and other goods | 61 | €7,300,208 | €7,512,158 | +€211,950 | +2.9% |
| Remuneration, social security and pensions | 62 | €4,074,788 | €4,488,501 | +€413,713 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,548,947 | €1,572,150 | +€23,203 | +1.5% |
| Other operating charges | 640/8 | €19,106 | €126,080 | +€106,974 | +559.9% |
| Non-recurring operating charges | 66A | €1,343 | - | -€1,343 | |
| Operating profit (loss) | 9901 | €285,744 | €1,645,972 | +€1.4m | +476.0% |
| Financial income | 75/76B | €37,842 | €801 | -€37,041 | -97.9% |
| Recurring financial income | 75 | €37,842 | €801 | -€37,041 | -97.9% |
| Income from current assets | 751 | €29,116 | - | -€29,116 | |
| Other financial income | 752/9 | €8,726 | €801 | -€7,925 | -90.8% |
| Financial charges | 65/66B | €489,984 | €492,760 | +€2,776 | +0.6% |
| Recurring financial charges | 65 | €489,984 | €492,760 | +€2,776 | +0.6% |
| Debt charges | 650 | €420,176 | €297,976 | -€122,200 | -29.1% |
| Other financial charges | 652/9 | €69,808 | €194,784 | +€124,976 | +179.0% |
| Profit (loss) for the period before taxes | 9903 | -€166,398 | €1,154,013 | +€1.3m | |
| Income taxes | 67/77 | €32,000 | €406,036 | +€374,036 | +1168.9% |
| Taxes | 670/3 | €32,000 | €406,833 | +€374,833 | +1171.4% |
| Tax adjustments and reversals of tax provisions | 77 | - | €797 | +€797 | |
| Profit (loss) for the period | 9904 | -€198,398 | €747,977 | +€946,375 | |
| Profit (loss) for the period to be appropriated | 9905 | -€198,398 | €747,977 | +€946,375 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.