SPOTWATCH: 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.
SPOTWATCH
Largest movements
- Receivables within one year -€73,341
down €73,341 (-58.3%), from €125,718 to €52,377
of which Other amounts receivable: -€77,821
- Tangible fixed assets +€66,282
up €66,282 (+13.9%), from €476,067 to €542,349
of which Leasing and similar rights: +€296,250
- Trade debts +€170,737
up €170,737 (+482%), from €35,391 to €206,128
- Accrued charges and deferred income +€120,660
new in 2025: €120,660
- Profit (loss) carried forward -€114,126
down €114,126 (-62.2%), from -€183,380 to -€297,506
- Debts after one year -€99,464
down €99,464 (-24.6%), from €404,407 to €304,943
- Other debts -€85,813
down €85,813 (-97.2%), from €88,313 to €2,500
- Turnover +€129,704
up €129,704 (+46.4%), from €279,675 to €409,379
- Gross operating margin +€111,418
up €111,418, from -€24,231 to €87,187
- Staff costs +€39,517
up €39,517 (+65.8%), from €60,027 to €99,544
- Purchases and services +€29,012
up €29,012 (+9.5%), from €303,904 to €332,916
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 | €623,423 | €622,819 | -€604 | -0.1% |
| Formation expenses | 20 | €702 | €301 | -€401 | -57.1% |
| Fixed assets | 21/28 | €490,194 | €552,113 | +€61,919 | +12.6% |
| Intangible fixed assets | 21 | €8,727 | €4,364 | -€4,363 | -50.0% |
| Tangible fixed assets | 22/27 | €476,067 | €542,349 | +€66,282 | +13.9% |
| Plant, machinery and equipment | 23 | €438,447 | €161,626 | -€276,821 | -63.1% |
| Furniture and vehicles | 24 | €6,601 | €8,568 | +€1,967 | +29.8% |
| Leasing and similar rights | 25 | - | €296,250 | +€296,250 | |
| Other tangible fixed assets | 26 | €31,019 | €75,904 | +€44,885 | +145% |
| Financial fixed assets | 28 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €132,527 | €70,406 | -€62,121 | -46.9% |
| Amounts receivable within one year | 40/41 | €125,718 | €52,377 | -€73,341 | -58.3% |
| Trade receivables | 40 | €11,190 | €15,670 | +€4,480 | +40.0% |
| Other amounts receivable | 41 | €114,528 | €36,707 | -€77,821 | -67.9% |
| Cash at bank and in hand | 54/58 | €4,202 | €10,214 | +€6,012 | +143% |
| Deferred charges and accrued income | 490/1 | €2,607 | €7,815 | +€5,208 | +200% |
| Total equity and liabilities | 10/49 | €623,423 | €622,819 | -€604 | -0.1% |
| Equity | 10/15 | -€23,380 | -€137,506 | -€114,126 | -488% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Capital | 10 | €160,000 | - | -€160,000 | |
| Issued capital | 100 | €160,000 | - | -€160,000 | |
| Profit (loss) carried forward | 14 | -€183,380 | -€297,506 | -€114,126 | -62.2% |
| Amounts payable | 17/49 | €646,803 | €760,326 | +€113,523 | +17.6% |
| Amounts payable after more than one year | 17 | €404,407 | €304,943 | -€99,464 | -24.6% |
| Financial debts | 170/4 | €404,407 | €304,943 | -€99,464 | -24.6% |
| Amounts payable within one year | 42/48 | €242,396 | €334,723 | +€92,327 | +38.1% |
| Current portion of amounts payable after more than one year | 42 | €107,971 | €111,965 | +€3,994 | +3.7% |
| Trade debts | 44 | €35,391 | €206,128 | +€170,737 | +482% |
| Suppliers | 440/4 | €35,391 | €206,128 | +€170,737 | +482% |
| Taxes, remuneration and social security | 45 | €10,721 | €14,131 | +€3,410 | +31.8% |
| Taxes | 450/3 | €2,072 | €3,808 | +€1,736 | +83.8% |
| Remuneration and social security | 454/9 | €8,649 | €10,323 | +€1,674 | +19.4% |
| Other amounts payable | 47/48 | €88,313 | €2,500 | -€85,813 | -97.2% |
| Accrued charges and deferred income | 492/3 | - | €120,660 | +€120,660 | |
| Turnover | 70 | €279,675 | €409,379 | +€129,704 | +46.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €303,904 | €332,916 | +€29,012 | +9.5% |
| Remuneration, social security and pensions | 62 | €60,027 | €99,544 | +€39,517 | +65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,712 | €81,838 | +€1,126 | +1.4% |
| Other operating charges | 640/8 | €828 | €568 | -€260 | -31.4% |
| Gross operating margin | 9900 | -€24,231 | €87,187 | +€111,418 | |
| Operating profit (loss) | 9901 | -€165,798 | -€94,763 | +€71,035 | +42.8% |
| Financial income | 75/76B | €15 | €99 | +€84 | +562% |
| Recurring financial income | 75 | €15 | €99 | +€84 | +562% |
| Financial charges | 65/66B | €17,597 | €19,463 | +€1,866 | +10.6% |
| Recurring financial charges | 65 | €17,597 | €19,463 | +€1,866 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€183,380 | -€114,127 | +€69,253 | +37.8% |
| Profit (loss) for the period | 9904 | -€183,380 | -€114,127 | +€69,253 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€183,380 | -€114,127 | +€69,253 | +37.8% |
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 16 October 2026 via checked.be.