SPRAY ART: 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.
SPRAY ART
Largest movements
- Receivables within one year +€29,281
up €29,281 (+333%), from €8,804 to €38,086
of which Trade receivables: +€27,769
- Cash +€22,208
up €22,208 (+19.4%), from €114,331 to €136,539
mainly Accrued charges and deferred income (+€99,214) and Net result for the year (+€39,689)
- Tangible fixed assets +€14,325
up €14,325 (+97.0%), from €14,768 to €29,092
of which Furniture and vehicles: +€13,977
- Accrued charges and deferred income +€99,214
up €99,214 (+29,247%), from €339 to €99,553
- Reserves -€70,109
down €70,109 (-54.1%), from €129,500 to €59,391
- Trade debts +€15,541
up €15,541 (+2,620%), from €593 to €16,134
- Tax, wage and social debts +€10,594
up €10,594 (+169%), from €6,269 to €16,863
of which Taxes: +€13,482
- Debts after one year +€7,216
new in 2025: €7,216
- Gross operating margin -€7,936
down €7,936 (-11.0%), from €72,175 to €64,239
- Depreciation +€6,442
up €6,442 (+336%), from €1,918 to €8,360
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 | €137,903 | €205,364 | +€67,461 | +48.9% |
| Fixed assets | 21/28 | €14,768 | €29,092 | +€14,325 | +97.0% |
| Tangible fixed assets | 22/27 | €14,768 | €29,092 | +€14,325 | +97.0% |
| Land and buildings | 22 | €10,249 | €9,729 | -€520 | -5.1% |
| Plant, machinery and equipment | 23 | - | €868 | +€868 | |
| Furniture and vehicles | 24 | €4,518 | €18,495 | +€13,977 | +309% |
| Current assets | 29/58 | €123,135 | €176,271 | +€53,136 | +43.2% |
| Amounts receivable within one year | 40/41 | €8,804 | €38,086 | +€29,281 | +333% |
| Trade receivables | 40 | €8,751 | €36,520 | +€27,769 | +317% |
| Other amounts receivable | 41 | €53 | €1,566 | +€1,512 | +2,847% |
| Cash at bank and in hand | 54/58 | €114,331 | €136,539 | +€22,208 | +19.4% |
| Deferred charges and accrued income | 490/1 | - | €1,646 | +€1,646 | |
| Total equity and liabilities | 10/49 | €137,903 | €205,364 | +€67,461 | +48.9% |
| Equity | 10/15 | €130,702 | €60,391 | -€70,311 | -53.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €129,500 | €59,391 | -€70,109 | -54.1% |
| Distributable reserves | 133 | €129,500 | €59,391 | -€70,109 | -54.1% |
| Profit (loss) carried forward | 14 | €202 | - | -€202 | |
| Amounts payable | 17/49 | €7,201 | €144,973 | +€137,772 | +1,913% |
| Amounts payable after more than one year | 17 | - | €7,216 | +€7,216 | |
| Financial debts | 170/4 | - | €7,216 | +€7,216 | |
| Amounts payable within one year | 42/48 | €6,862 | €38,204 | +€31,343 | +457% |
| Current portion of amounts payable after more than one year | 42 | - | €5,208 | +€5,208 | |
| Trade debts | 44 | €593 | €16,134 | +€15,541 | +2,620% |
| Suppliers | 440/4 | €593 | €16,134 | +€15,541 | +2,620% |
| Taxes, remuneration and social security | 45 | €6,269 | €16,863 | +€10,594 | +169% |
| Taxes | 450/3 | €3,381 | €16,863 | +€13,482 | +399% |
| Remuneration and social security | 454/9 | €2,887 | - | -€2,887 | |
| Accrued charges and deferred income | 492/3 | €339 | €99,553 | +€99,214 | +29,247% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,918 | €8,360 | +€6,442 | +336% |
| Other operating charges | 640/8 | €1,232 | €1,436 | +€204 | +16.5% |
| Gross operating margin | 9900 | €72,175 | €64,239 | -€7,936 | -11.0% |
| Operating profit (loss) | 9901 | €69,024 | €54,443 | -€14,581 | -21.1% |
| Financial income | 75/76B | €33 | €7 | -€26 | -79.9% |
| Recurring financial income | 75 | €33 | €7 | -€26 | -79.9% |
| Financial charges | 65/66B | €875 | €1,273 | +€398 | +45.5% |
| Recurring financial charges | 65 | €875 | €1,273 | +€398 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €68,182 | €53,176 | -€15,006 | -22.0% |
| Income taxes | 67/77 | €13,665 | €13,488 | -€178 | -1.3% |
| Profit (loss) for the period | 9904 | €54,517 | €39,689 | -€14,828 | -27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,517 | €39,689 | -€14,828 | -27.2% |
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 21 October 2026 via checked.be.