SPOORMANS-SQUIRE: 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.
SPOORMANS-SQUIRE
Largest movements
- Tangible fixed assets -€63,120
down €63,120 (-7.7%), from €820,223 to €757,104
of which Plant, machinery and equipment: -€35,802
- Cash -€60,953
no longer reported in 2025 (was €60,953)
mainly Other debts (-€48,178) and Debts after one year (-€44,179)
- Current investments +€36,348
new in 2025: €36,348
- Receivables within one year -€22,203
down €22,203 (-58.7%), from €37,809 to €15,606
of which Trade receivables: -€18,687
- Other debts -€48,178
down €48,178 (-26.7%), from €180,682 to €132,504
- Debts after one year -€44,179
down €44,179 (-5.7%), from €770,928 to €726,749
- Profit (loss) carried forward -€19,666
down €19,666 (-32.9%), from -€59,699 to -€79,365
- Other operating charges -€5,238
down €5,238 (-20.5%), from €25,526 to €20,288
- Gross operating margin -€3,453
down €3,453 (-4.4%), from €78,510 to €75,057
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 | €956,008 | €840,396 | -€115,612 | -12.1% |
| Fixed assets | 21/28 | €821,073 | €757,954 | -€63,120 | -7.7% |
| Tangible fixed assets | 22/27 | €820,223 | €757,104 | -€63,120 | -7.7% |
| Land and buildings | 22 | €529,576 | €504,464 | -€25,112 | -4.7% |
| Plant, machinery and equipment | 23 | €286,637 | €250,835 | -€35,802 | -12.5% |
| Furniture and vehicles | 24 | €4,010 | €1,805 | -€2,205 | -55.0% |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €134,935 | €82,442 | -€52,493 | -38.9% |
| Stocks and contracts in progress | 3 | €34,443 | €28,183 | -€6,261 | -18.2% |
| Stocks | 30/36 | €34,443 | €28,183 | -€6,261 | -18.2% |
| Amounts receivable within one year | 40/41 | €37,809 | €15,606 | -€22,203 | -58.7% |
| Trade receivables | 40 | €34,293 | €15,606 | -€18,687 | -54.5% |
| Other amounts receivable | 41 | €3,516 | - | -€3,516 | |
| Current investments | 50/53 | - | €36,348 | +€36,348 | |
| Cash at bank and in hand | 54/58 | €60,953 | - | -€60,953 | |
| Deferred charges and accrued income | 490/1 | €1,729 | €2,306 | +€576 | +33.3% |
| Total equity and liabilities | 10/49 | €956,008 | €840,396 | -€115,612 | -12.1% |
| Equity | 10/15 | -€55,704 | -€75,370 | -€19,666 | -35.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €2,995 | €2,995 | = | 0.0% |
| Distributable reserves | 133 | €2,995 | €2,995 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,699 | -€79,365 | -€19,666 | -32.9% |
| Amounts payable | 17/49 | €1,011,713 | €915,766 | -€95,946 | -9.5% |
| Amounts payable after more than one year | 17 | €770,928 | €726,749 | -€44,179 | -5.7% |
| Financial debts | 170/4 | €770,928 | €726,749 | -€44,179 | -5.7% |
| Amounts payable within one year | 42/48 | €240,785 | €189,018 | -€51,767 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €48,023 | €48,599 | +€576 | +1.2% |
| Trade debts | 44 | €2,280 | €593 | -€1,687 | -74.0% |
| Suppliers | 440/4 | €2,280 | €593 | -€1,687 | -74.0% |
| Taxes, remuneration and social security | 45 | €9,800 | €7,322 | -€2,478 | -25.3% |
| Taxes | 450/3 | €9,800 | €7,322 | -€2,478 | -25.3% |
| Other amounts payable | 47/48 | €180,682 | €132,504 | -€48,178 | -26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,347 | €63,120 | -€227 | -0.4% |
| Other operating charges | 640/8 | €25,526 | €20,288 | -€5,238 | -20.5% |
| Gross operating margin | 9900 | €78,510 | €75,057 | -€3,453 | -4.4% |
| Operating profit (loss) | 9901 | -€10,363 | -€8,351 | +€2,012 | +19.4% |
| Financial income | 75/76B | €7 | €0 | -€7 | -97.3% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -97.3% |
| Financial charges | 65/66B | €11,960 | €11,316 | -€644 | -5.4% |
| Recurring financial charges | 65 | €11,960 | €11,316 | -€644 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,315 | -€19,666 | +€2,649 | +11.9% |
| Profit (loss) for the period | 9904 | -€22,315 | -€19,666 | +€2,649 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,315 | -€19,666 | +€2,649 | +11.9% |
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 15 October 2026 via checked.be.