SPM Immo et Services: what changed
Two financial 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.
SPM Immo et Services
Largest movements
- Tangible fixed assets +€593,925
up €593,925 (+43.6%), from €1.4m to €2.0m
of which Land and buildings: +€578,754
- Receivables within one year +€89,967
up €89,967 (+66.9%), from €134,561 to €224,528
of which Other amounts receivable: +€159,583
- Debts after one year +€773,905
up €773,905 (+196%), from €394,101 to €1.2m
of which Financial debts: +€533,905
- Other debts -€129,953
down €129,953 (-68.9%), from €188,728 to €58,775
- Reserves +€63,954
up €63,954 (+6.5%), from €984,810 to €1.0m
of which Distributable reserves: +€79,989
- Current portion of long-term debt +€32,274
up €32,274 (+69.8%), from €46,244 to €78,519
- Gross operating margin -€18,323
down €18,323 (-32.6%), from €56,234 to €37,912
- Depreciation +€11,073
up €11,073 (+30.7%), from €36,102 to €47,175
- Other operating charges -€5,704
down €5,704 (-45.5%), from €12,543 to €6,839
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.
Derived cash bridge
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 | €1,889,497 | €2,630,636 | +€741,140 | +39.2% |
| Fixed assets | 21/28 | €1,543,665 | €2,157,640 | +€613,975 | +39.8% |
| Tangible fixed assets | 22/27 | €1,363,665 | €1,957,590 | +€593,925 | +43.6% |
| Land and buildings | 22 | €1,327,475 | €1,906,229 | +€578,754 | +43.6% |
| Plant, machinery and equipment | 23 | €35,543 | €46,031 | +€10,488 | +29.5% |
| Furniture and vehicles | 24 | €647 | €347 | -€300 | -46.3% |
| Other tangible fixed assets | 26 | - | €4,983 | +€4,983 | |
| Financial fixed assets | 28 | €180,000 | €200,050 | +€20,050 | +11.1% |
| Current assets | 29/58 | €345,831 | €472,996 | +€127,165 | +36.8% |
| Amounts receivable within one year | 40/41 | €134,561 | €224,528 | +€89,967 | +66.9% |
| Trade receivables | 40 | €69,617 | - | -€69,617 | |
| Other amounts receivable | 41 | €64,944 | €224,528 | +€159,583 | +246% |
| Current investments | 50/53 | €180,000 | €200,000 | +€20,000 | +11.1% |
| Cash at bank and in hand | 54/58 | €31,183 | €47,173 | +€15,990 | +51.3% |
| Deferred charges and accrued income | 490/1 | €87 | €1,295 | +€1,208 | +1,385% |
| Total equity and liabilities | 10/49 | €1,889,497 | €2,630,636 | +€741,140 | +39.2% |
| Equity | 10/15 | €965,271 | €1,059,188 | +€93,918 | +9.7% |
| Contributions | 10/11 | €60,000 | €66,200 | +€6,200 | +10.3% |
| Reserves | 13 | €984,810 | €1,048,763 | +€63,954 | +6.5% |
| Non-distributable reserves | 130/1 | €180,000 | €200,000 | +€20,000 | +11.1% |
| Own shares acquired | 1312 | €180,000 | €200,000 | +€20,000 | +11.1% |
| Tax-exempt reserves | 132 | €804,810 | €768,775 | -€36,035 | -4.5% |
| Distributable reserves | 133 | - | €79,989 | +€79,989 | |
| Profit (loss) carried forward | 14 | -€79,539 | -€55,775 | +€23,764 | +29.9% |
| Provisions and deferred taxes | 16 | €268,270 | €256,258 | -€12,012 | -4.5% |
| Deferred taxes | 168 | €268,270 | €256,258 | -€12,012 | -4.5% |
| Amounts payable | 17/49 | €655,956 | €1,315,190 | +€659,234 | +100% |
| Amounts payable after more than one year | 17 | €394,101 | €1,168,006 | +€773,905 | +196% |
| Financial debts | 170/4 | €394,101 | €928,006 | +€533,905 | +135% |
| Other amounts payable | 178/9 | - | €240,000 | +€240,000 | |
| Amounts payable within one year | 42/48 | €261,855 | €147,183 | -€114,671 | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €46,244 | €78,519 | +€32,274 | +69.8% |
| Trade debts | 44 | €20,540 | €9,289 | -€11,251 | -54.8% |
| Suppliers | 440/4 | €20,540 | €9,289 | -€11,251 | -54.8% |
| Taxes, remuneration and social security | 45 | €6,342 | €601 | -€5,742 | -90.5% |
| Taxes | 450/3 | €6,342 | €601 | -€5,742 | -90.5% |
| Other amounts payable | 47/48 | €188,728 | €58,775 | -€129,953 | -68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,102 | €47,175 | +€11,073 | +30.7% |
| Other operating charges | 640/8 | €12,543 | €6,839 | -€5,704 | -45.5% |
| Gross operating margin | 9900 | €56,234 | €37,912 | -€18,323 | -32.6% |
| Operating profit (loss) | 9901 | €7,589 | -€16,102 | -€23,692 | |
| Financial charges | 65/66B | €7,764 | €8,181 | +€416 | +5.4% |
| Recurring financial charges | 65 | €7,377 | €7,377 | -€1 | 0.0% |
| Non-recurring financial charges | 66B | €387 | €804 | +€417 | +108% |
| Profit (loss) for the period before taxes | 9903 | -€175 | -€24,283 | -€24,108 | -13,800% |
| Transfer from deferred taxes | 780 | €8,797 | €12,012 | +€3,215 | +36.5% |
| Income taxes | 67/77 | €103 | - | -€103 | |
| Profit (loss) for the period | 9904 | €8,519 | -€12,271 | -€20,790 | |
| Transfer from tax-exempt reserves | 789 | €26,390 | €36,035 | +€9,645 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,909 | €23,764 | -€11,145 | -31.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.