SPOELDERS: 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.
SPOELDERS
Largest movements
- Cash +€333,341
up €333,341 (+112%), from €297,303 to €630,644
mainly Stocks and contracts (+€308,440) and Other debts (+€296,622)
- Stocks and contracts -€308,440
down €308,440 (-49.6%), from €621,820 to €313,380
- Current investments +€290,831
up €290,831 (+194%), from €149,565 to €440,396
- Tangible fixed assets -€205,969
down €205,969 (-13.3%), from €1.5m to €1.3m
of which Land and buildings: -€126,604
- Receivables within one year -€148,850
down €148,850 (-32.9%), from €452,195 to €303,345
of which Trade receivables: -€119,036
- Other debts +€296,622
up €296,622 (+323%), from €91,877 to €388,499
- Debts after one year -€169,341
down €169,341 (-19.8%), from €856,414 to €687,073
- Trade debts -€98,626
down €98,626 (-23.8%), from €414,247 to €315,622
- Reserves -€67,475
down €67,475 (-6.4%), from €1.1m to €989,564
of which Distributable reserves: -€67,475
- Staff costs +€25,527
up €25,527 (+20.5%), from €124,349 to €149,876
- Other operating charges -€22,060
down €22,060 (-46.1%), from €47,891 to €25,831
- Gross operating margin +€19,535
up €19,535 (+2.6%), from €748,079 to €767,614
- Depreciation -€18,688
down €18,688 (-7.2%), from €258,886 to €240,198
- Taxes +€14,727
up €14,727 (+18.0%), from €81,952 to €96,679
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 | €3,075,227 | €3,055,346 | -€19,881 | -0.6% |
| Fixed assets | 21/28 | €1,548,990 | €1,343,021 | -€205,969 | -13.3% |
| Tangible fixed assets | 22/27 | €1,548,990 | €1,343,021 | -€205,969 | -13.3% |
| Land and buildings | 22 | €1,066,629 | €940,025 | -€126,604 | -11.9% |
| Plant, machinery and equipment | 23 | €93,953 | €110,162 | +€16,209 | +17.3% |
| Furniture and vehicles | 24 | €140,658 | €104,650 | -€36,009 | -25.6% |
| Leasing and similar rights | 25 | €246,643 | €187,554 | -€59,089 | -24.0% |
| Other tangible fixed assets | 26 | €1,107 | €631 | -€476 | -43.0% |
| Current assets | 29/58 | €1,526,237 | €1,712,325 | +€186,088 | +12.2% |
| Stocks and contracts in progress | 3 | €621,820 | €313,380 | -€308,440 | -49.6% |
| Stocks | 30/36 | €621,820 | €313,380 | -€308,440 | -49.6% |
| Amounts receivable within one year | 40/41 | €452,195 | €303,345 | -€148,850 | -32.9% |
| Trade receivables | 40 | €422,381 | €303,345 | -€119,036 | -28.2% |
| Other amounts receivable | 41 | €29,814 | €0 | -€29,814 | -100% |
| Current investments | 50/53 | €149,565 | €440,396 | +€290,831 | +194% |
| Cash at bank and in hand | 54/58 | €297,303 | €630,644 | +€333,341 | +112% |
| Deferred charges and accrued income | 490/1 | €5,355 | €24,560 | +€19,205 | +359% |
| Total equity and liabilities | 10/49 | €3,075,227 | €3,055,346 | -€19,881 | -0.6% |
| Equity | 10/15 | €1,482,241 | €1,414,766 | -€67,475 | -4.6% |
| Contributions | 10/11 | €425,202 | €425,202 | = | 0.0% |
| Reserves | 13 | €1,057,039 | €989,564 | -€67,475 | -6.4% |
| Tax-exempt reserves | 132 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €1,051,039 | €983,564 | -€67,475 | -6.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,592,986 | €1,640,580 | +€47,594 | +3.0% |
| Amounts payable after more than one year | 17 | €856,414 | €687,073 | -€169,341 | -19.8% |
| Financial debts | 170/4 | €856,414 | €687,073 | -€169,341 | -19.8% |
| Amounts payable within one year | 42/48 | €716,147 | €902,520 | +€186,372 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €186,270 | €168,520 | -€17,751 | -9.5% |
| Trade debts | 44 | €414,247 | €315,622 | -€98,626 | -23.8% |
| Suppliers | 440/4 | €414,247 | €315,622 | -€98,626 | -23.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €23,753 | €29,879 | +€6,126 | +25.8% |
| Taxes | 450/3 | €13,591 | €16,255 | +€2,663 | +19.6% |
| Remuneration and social security | 454/9 | €10,162 | €13,624 | +€3,463 | +34.1% |
| Other amounts payable | 47/48 | €91,877 | €388,499 | +€296,622 | +323% |
| Accrued charges and deferred income | 492/3 | €20,425 | €50,987 | +€30,562 | +150% |
| Remuneration, social security and pensions | 62 | €124,349 | €149,876 | +€25,527 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €258,886 | €240,198 | -€18,688 | -7.2% |
| Other operating charges | 640/8 | €47,891 | €25,831 | -€22,060 | -46.1% |
| Gross operating margin | 9900 | €748,079 | €767,614 | +€19,535 | +2.6% |
| Operating profit (loss) | 9901 | €316,953 | €351,709 | +€34,756 | +11.0% |
| Financial income | 75/76B | €5,200 | €15,447 | +€10,247 | +197% |
| Recurring financial income | 75 | €5,200 | €15,447 | +€10,247 | +197% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €37,450 | €42,952 | +€5,502 | +14.7% |
| Recurring financial charges | 65 | €37,450 | €42,952 | +€5,502 | +14.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €284,703 | €324,204 | +€39,501 | +13.9% |
| Income taxes | 67/77 | €81,952 | €96,679 | +€14,727 | +18.0% |
| Profit (loss) for the period | 9904 | €202,751 | €227,525 | +€24,774 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €202,751 | €227,525 | +€24,774 | +12.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.