SPR Management: 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.
SPR Management
Largest movements
- Cash +€25,436
up €25,436 (+34.1%), from €74,540 to €99,976
mainly Net result for the year (+€45,685) and Depreciation (+€12,004)
- Current investments +€22,613
up €22,613 (+9.9%), from €228,962 to €251,575
- Tangible fixed assets -€9,719
down €9,719 (-54.9%), from €17,713 to €7,994
of which Furniture and vehicles: -€9,077
- Receivables within one year -€5,491
down €5,491 (-12.9%), from €42,655 to €37,164
- Reserves +€45,685
up €45,685 (+15.8%), from €288,383 to €334,068
of which Distributable reserves: +€45,685
- Other debts -€11,008
down €11,008 (-21.9%), from €50,274 to €39,266
- Taxes +€11,481
up €11,481 (+125%), from €9,217 to €20,698
- Depreciation -€1,568
down €1,568 (-11.6%), from €13,571 to €12,004
- Gross operating margin +€959
up €959 (+1.1%), from €86,242 to €87,202
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 | €364,258 | €397,553 | +€33,295 | +9.1% |
| Fixed assets | 21/28 | €17,713 | €7,994 | -€9,719 | -54.9% |
| Tangible fixed assets | 22/27 | €17,713 | €7,994 | -€9,719 | -54.9% |
| Furniture and vehicles | 24 | €13,249 | €4,172 | -€9,077 | -68.5% |
| Other tangible fixed assets | 26 | €4,464 | €3,821 | -€643 | -14.4% |
| Current assets | 29/58 | €346,545 | €389,559 | +€43,014 | +12.4% |
| Amounts receivable within one year | 40/41 | €42,655 | €37,164 | -€5,491 | -12.9% |
| Trade receivables | 40 | €42,655 | €37,164 | -€5,491 | -12.9% |
| Current investments | 50/53 | €228,962 | €251,575 | +€22,613 | +9.9% |
| Cash at bank and in hand | 54/58 | €74,540 | €99,976 | +€25,436 | +34.1% |
| Deferred charges and accrued income | 490/1 | €388 | €844 | +€456 | +118% |
| Total equity and liabilities | 10/49 | €364,258 | €397,553 | +€33,295 | +9.1% |
| Equity | 10/15 | €294,583 | €340,268 | +€45,685 | +15.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €288,383 | €334,068 | +€45,685 | +15.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €286,523 | €332,208 | +€45,685 | +15.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €69,676 | €57,285 | -€12,391 | -17.8% |
| Amounts payable within one year | 42/48 | €69,676 | €57,285 | -€12,391 | -17.8% |
| Trade debts | 44 | €4,550 | €1,561 | -€2,990 | -65.7% |
| Suppliers | 440/4 | €4,550 | €1,561 | -€2,990 | -65.7% |
| Taxes, remuneration and social security | 45 | €14,851 | €16,459 | +€1,607 | +10.8% |
| Taxes | 450/3 | €14,851 | €16,459 | +€1,607 | +10.8% |
| Other amounts payable | 47/48 | €50,274 | €39,266 | -€11,008 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,571 | €12,004 | -€1,568 | -11.6% |
| Other operating charges | 640/8 | €575 | €1,183 | +€607 | +106% |
| Non-recurring operating charges | 66A | €12 | €0 | -€12 | -100% |
| Gross operating margin | 9900 | €86,242 | €87,202 | +€959 | +1.1% |
| Operating profit (loss) | 9901 | €72,084 | €74,015 | +€1,932 | +2.7% |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €7,445 | €7,632 | +€187 | +2.5% |
| Recurring financial charges | 65 | €7,445 | €7,632 | +€187 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €64,649 | €66,384 | +€1,734 | +2.7% |
| Income taxes | 67/77 | €9,217 | €20,698 | +€11,481 | +125% |
| Profit (loss) for the period | 9904 | €55,432 | €45,685 | -€9,746 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,432 | €45,685 | -€9,746 | -17.6% |
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 23 October 2026 via checked.be.