SPOOR29: 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.
What changed
SPOOR29
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€116,095
2024 · €105,992+€10,103
Equity
€574,729
2024 · €458,634+€116,095
Cash
€49,452
2024 · €57,673-€8,221
Balance sheet total
€1.1m
2024 · €1.1m+€52,608
Largest movements
Assets
- Tangible fixed assets +€60,776
up €60,776 (+6.2%), from €982,738 to €1.0m
of which Land and buildings: +€76,341
Equity and liabilities
- Reserves +€116,095
up €116,095 (+27.2%), from €426,408 to €542,503
- Other debts -€61,370
down €61,370 (-10.4%), from €589,408 to €528,038
Income statement
- Depreciation -€11,666
down €11,666 (-6.8%), from €170,786 to €159,121
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
€105,992
Gross operating margin
+€1,584
Staff costs
+€2,286
Depreciation
+€11,666
Other operating charges
-€1,055
Other operating items
-€2,300
Financial income
-€1,512
Financial charges
+€445
Taxes
-€1,010
Result 2025
€116,095
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€212,691
Investment
-€219,897
Financing
-€1,014
Cash 2024
€57,673
From operations (derived)
+€212,691
Net result for the year
+€116,095
Depreciation
+€159,121
Stocks and contracts
-€152
Receivables within one year
-€6,834
Deferred charges and accrued income
+€6,935
Trade debts
-€8,270
Tax, wage and social debts
+€7,168
Other debts
-€61,370
Investment (derived)
-€219,897
Investment in fixed assets (net)
-€219,897
Financing
-€1,014
Short-term financial debts
-€1,014
Cash 2025
€49,452
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,082,553 | €1,135,161 | +€52,608 | +4.9% |
| Fixed assets | 21/28 | €982,873 | €1,043,650 | +€60,776 | +6.2% |
| Tangible fixed assets | 22/27 | €982,738 | €1,043,515 | +€60,776 | +6.2% |
| Land and buildings | 22 | €774,147 | €850,488 | +€76,341 | +9.9% |
| Plant, machinery and equipment | 23 | €180,601 | €171,280 | -€9,321 | -5.2% |
| Furniture and vehicles | 24 | €27,990 | €21,746 | -€6,244 | -22.3% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €99,680 | €91,511 | -€8,169 | -8.2% |
| Stocks and contracts in progress | 3 | €5,798 | €5,950 | +€152 | +2.6% |
| Stocks | 30/36 | €5,798 | €5,950 | +€152 | +2.6% |
| Amounts receivable within one year | 40/41 | €14,530 | €21,364 | +€6,834 | +47.0% |
| Trade receivables | 40 | €12,500 | €21,173 | +€8,673 | +69.4% |
| Other amounts receivable | 41 | €2,030 | €191 | -€1,839 | -90.6% |
| Cash at bank and in hand | 54/58 | €57,673 | €49,452 | -€8,221 | -14.3% |
| Deferred charges and accrued income | 490/1 | €21,680 | €14,745 | -€6,935 | -32.0% |
| Total equity and liabilities | 10/49 | €1,082,553 | €1,135,161 | +€52,608 | +4.9% |
| Equity | 10/15 | €458,634 | €574,729 | +€116,095 | +25.3% |
| Contributions | 10/11 | €32,226 | €32,226 | = | 0.0% |
| Reserves | 13 | €426,408 | €542,503 | +€116,095 | +27.2% |
| Distributable reserves | 133 | €426,408 | €542,503 | +€116,095 | +27.2% |
| Amounts payable | 17/49 | €623,919 | €560,432 | -€63,487 | -10.2% |
| Amounts payable within one year | 42/48 | €623,919 | €560,432 | -€63,487 | -10.2% |
| Financial debts | 43 | €1,014 | €0 | -€1,014 | -100% |
| Credit institutions | 430/8 | €1,014 | €0 | -€1,014 | -100% |
| Trade debts | 44 | €25,752 | €17,482 | -€8,270 | -32.1% |
| Suppliers | 440/4 | €25,752 | €17,482 | -€8,270 | -32.1% |
| Taxes, remuneration and social security | 45 | €7,745 | €14,913 | +€7,168 | +92.5% |
| Taxes | 450/3 | €7,566 | €3,829 | -€3,737 | -49.4% |
| Remuneration and social security | 454/9 | €179 | €11,084 | +€10,905 | +6,094% |
| Other amounts payable | 47/48 | €589,408 | €528,038 | -€61,370 | -10.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €193,620 | €191,334 | -€2,286 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,786 | €159,121 | -€11,666 | -6.8% |
| Other operating charges | 640/8 | €9,629 | €10,684 | +€1,055 | +11.0% |
| Non-recurring operating charges | 66A | - | €2,300 | +€2,300 | |
| Gross operating margin | 9900 | €490,701 | €492,284 | +€1,584 | +0.3% |
| Operating profit (loss) | 9901 | €116,666 | €128,846 | +€12,180 | +10.4% |
| Financial income | 75/76B | €2,471 | €959 | -€1,512 | -61.2% |
| Recurring financial income | 75 | €2,471 | €959 | -€1,512 | -61.2% |
| Financial charges | 65/66B | €2,546 | €2,101 | -€445 | -17.5% |
| Recurring financial charges | 65 | €2,546 | €2,101 | -€445 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €116,591 | €127,704 | +€11,113 | +9.5% |
| Income taxes | 67/77 | €10,599 | €11,609 | +€1,010 | +9.5% |
| Profit (loss) for the period | 9904 | €105,992 | €116,095 | +€10,103 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €105,992 | €116,095 | +€10,103 | +9.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.