SPOO: 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.
SPOO
Largest movements
- Tangible fixed assets +€788,796
up €788,796 (+415.3%), from €189,931 to €978,727
of which Plant, machinery and equipment: +€802,816
- Receivables within one year +€438,927
up €438,927 (+344.2%), from €127,524 to €566,451
of which Trade receivables: +€403,198
- Intangible fixed assets +€335,184
new in 2025: €335,184
- Current investments -€299,698
down €299,698 (-99.2%), from €302,035 to €2,337
- Stocks and contracts +€243,956
up €243,956 (+785.8%), from €31,044 to €275,000
- Debts after one year +€2.1m
up €2.1m (+689.4%), from €297,817 to €2.4m
of which Financial debts: +€1.7m
- Reserves -€1.2m
down €1.2m (-93.4%), from €1.3m to €87,011
of which Distributable reserves: -€1.2m
- Trade debts +€496,532
up €496,532 (+517.7%), from €95,907 to €592,439
- Current portion of long-term debt +€158,921
up €158,921 (+155.9%), from €101,937 to €260,858
- Tax, wage and social debts +€87,383
up €87,383 (+152.8%), from €57,198 to €144,581
of which Remuneration and social security: +€97,876
- Gross operating margin +€435,351
up €435,351 (+126.8%), from €343,280 to €778,631
- Staff costs +€337,084
up €337,084 (+202.6%), from €166,360 to €503,443
- Depreciation +€101,648
up €101,648 (+170.9%), from €59,481 to €161,129
- Financial charges +€62,963
up €62,963 (+465.1%), from €13,538 to €76,501
- Taxes -€27,972
down €27,972 (-90.7%), from €30,852 to €2,879
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 | €1,952,712 | €3,512,043 | +€1.6m | +79.9% |
| Fixed assets | 21/28 | €1,316,237 | €2,440,217 | +€1.1m | +85.4% |
| Intangible fixed assets | 21 | - | €335,184 | +€335,184 | |
| Tangible fixed assets | 22/27 | €189,931 | €978,727 | +€788,796 | +415.3% |
| Land and buildings | 22 | €68,756 | €61,286 | -€7,470 | -10.9% |
| Plant, machinery and equipment | 23 | €111,917 | €914,733 | +€802,816 | +717.3% |
| Furniture and vehicles | 24 | €8,297 | €2,373 | -€5,924 | -71.4% |
| Other tangible fixed assets | 26 | €961 | €335 | -€626 | -65.1% |
| Financial fixed assets | 28 | €1,126,306 | €1,126,306 | = | 0.0% |
| Current assets | 29/58 | €636,475 | €1,071,826 | +€435,351 | +68.4% |
| Stocks and contracts in progress | 3 | €31,044 | €275,000 | +€243,956 | +785.8% |
| Stocks | 30/36 | €31,044 | €275,000 | +€243,956 | +785.8% |
| Amounts receivable within one year | 40/41 | €127,524 | €566,451 | +€438,927 | +344.2% |
| Trade receivables | 40 | €127,524 | €530,722 | +€403,198 | +316.2% |
| Other amounts receivable | 41 | - | €35,729 | +€35,729 | |
| Current investments | 50/53 | €302,035 | €2,337 | -€299,698 | -99.2% |
| Cash at bank and in hand | 54/58 | €173,223 | €222,576 | +€49,353 | +28.5% |
| Deferred charges and accrued income | 490/1 | €2,649 | €5,462 | +€2,813 | +106.2% |
| Total equity and liabilities | 10/49 | €1,952,712 | €3,512,043 | +€1.6m | +79.9% |
| Equity | 10/15 | €1,368,469 | €136,611 | -€1.2m | -90.0% |
| Contributions | 10/11 | €49,600 | €49,600 | = | 0.0% |
| Reserves | 13 | €1,318,869 | €87,011 | -€1.2m | -93.4% |
| Tax-exempt reserves | 132 | €5,707 | €5,707 | = | 0.0% |
| Distributable reserves | 133 | €1,313,162 | €81,304 | -€1.2m | -93.8% |
| Provisions and deferred taxes | 16 | €12,340 | €24,889 | +€12,549 | +101.7% |
| Provisions for liabilities and charges | 160/5 | €12,340 | €24,889 | +€12,549 | +101.7% |
| Other liabilities and charges | 164/5 | €12,340 | €24,889 | +€12,549 | +101.7% |
| Amounts payable | 17/49 | €571,903 | €3,350,543 | +€2.8m | +485.9% |
| Amounts payable after more than one year | 17 | €297,817 | €2,350,920 | +€2.1m | +689.4% |
| Financial debts | 170/4 | €297,817 | €1,970,920 | +€1.7m | +561.8% |
| Other amounts payable | 178/9 | - | €380,000 | +€380,000 | |
| Amounts payable within one year | 42/48 | €274,086 | €999,623 | +€725,537 | +264.7% |
| Current portion of amounts payable after more than one year | 42 | €101,937 | €260,858 | +€158,921 | +155.9% |
| Trade debts | 44 | €95,907 | €592,439 | +€496,532 | +517.7% |
| Suppliers | 440/4 | €95,907 | €592,439 | +€496,532 | +517.7% |
| Advances received on contracts in progress | 46 | - | €1,746 | +€1,746 | |
| Taxes, remuneration and social security | 45 | €57,198 | €144,581 | +€87,383 | +152.8% |
| Taxes | 450/3 | €39,425 | €28,932 | -€10,493 | -26.6% |
| Remuneration and social security | 454/9 | €17,773 | €115,649 | +€97,876 | +550.7% |
| Other amounts payable | 47/48 | €19,045 | - | -€19,045 | |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | €166,360 | €503,443 | +€337,084 | +202.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,481 | €161,129 | +€101,648 | +170.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,458 | €12,549 | +€16,007 | |
| Other operating charges | 640/8 | €6,947 | €4,439 | -€2,508 | -36.1% |
| Gross operating margin | 9900 | €343,280 | €778,631 | +€435,351 | +126.8% |
| Operating profit (loss) | 9901 | €113,951 | €97,071 | -€16,880 | -14.8% |
| Financial income | 75/76B | €5,800 | €451 | -€5,349 | -92.2% |
| Recurring financial income | 75 | €5,800 | €451 | -€5,349 | -92.2% |
| Financial charges | 65/66B | €13,538 | €76,501 | +€62,963 | +465.1% |
| Recurring financial charges | 65 | €13,538 | €76,501 | +€62,963 | +465.1% |
| Profit (loss) for the period before taxes | 9903 | €106,213 | €21,022 | -€85,191 | -80.2% |
| Income taxes | 67/77 | €30,852 | €2,879 | -€27,972 | -90.7% |
| Profit (loss) for the period | 9904 | €75,361 | €18,142 | -€57,219 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,361 | €18,142 | -€57,219 | -75.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.