SPRING PROJECTS: what changed
Two fiscal 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.
SPRING PROJECTS
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward -€50,000
down €50,000 (-40.4%), from €123,802 to €73,802
- Reserves +€31,025
up €31,025 (+1668.0%), from €1,860 to €32,885
- Other debts +€11,079
new in 2025: €11,079
- Tax, wage and social debts +€5,641
up €5,641 (+201.6%), from €2,798 to €8,440
- Gross operating margin -€6,834
down €6,834 (-12.1%), from €56,525 to €49,691
- Financial income -€4,185
down €4,185 (-98.5%), from €4,248 to €62
- Taxes +€1,254
up €1,254 (+10.0%), from €12,520 to €13,773
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.
Cash bridge derived
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 | €149,247 | €145,626 | -€3,621 | -2.4% |
| Fixed assets | 21/28 | €48,885 | €47,462 | -€1,423 | -2.9% |
| Tangible fixed assets | 22/27 | €3,877 | €2,454 | -€1,423 | -36.7% |
| Land and buildings | 22 | €359 | - | -€359 | |
| Plant, machinery and equipment | 23 | €2,347 | €951 | -€1,396 | -59.5% |
| Furniture and vehicles | 24 | €1,172 | €783 | -€388 | -33.2% |
| Other tangible fixed assets | 26 | - | €720 | +€720 | |
| Financial fixed assets | 28 | €45,008 | €45,008 | = | 0.0% |
| Current assets | 29/58 | €100,362 | €98,163 | -€2,198 | -2.2% |
| Amounts receivable within one year | 40/41 | €29,017 | €27,824 | -€1,193 | -4.1% |
| Trade receivables | 40 | €27,824 | €27,824 | = | 0.0% |
| Other amounts receivable | 41 | €1,193 | - | -€1,193 | |
| Cash at bank and in hand | 54/58 | €68,884 | €67,958 | -€926 | -1.3% |
| Deferred charges and accrued income | 490/1 | €2,460 | €2,381 | -€79 | -3.2% |
| Total equity and liabilities | 10/49 | €149,247 | €145,626 | -€3,621 | -2.4% |
| Equity | 10/15 | €144,262 | €125,287 | -€18,975 | -13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €32,885 | +€31,025 | +1668.0% |
| Distributable reserves | 133 | €1,860 | €32,885 | +€31,025 | +1668.0% |
| Profit (loss) carried forward | 14 | €123,802 | €73,802 | -€50,000 | -40.4% |
| Amounts payable | 17/49 | €4,985 | €20,339 | +€15,353 | +308.0% |
| Amounts payable within one year | 42/48 | €4,985 | €20,339 | +€15,353 | +308.0% |
| Trade debts | 44 | €2,187 | €820 | -€1,367 | -62.5% |
| Suppliers | 440/4 | €2,187 | €820 | -€1,367 | -62.5% |
| Taxes, remuneration and social security | 45 | €2,798 | €8,440 | +€5,641 | +201.6% |
| Taxes | 450/3 | €2,798 | €8,440 | +€5,641 | +201.6% |
| Other amounts payable | 47/48 | - | €11,079 | +€11,079 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,214 | €2,143 | -€71 | -3.2% |
| Other operating charges | 640/8 | €1,162 | €1,226 | +€64 | +5.5% |
| Gross operating margin | 9900 | €56,525 | €49,691 | -€6,834 | -12.1% |
| Operating profit (loss) | 9901 | €53,149 | €46,322 | -€6,827 | -12.8% |
| Financial income | 75/76B | €4,248 | €62 | -€4,185 | -98.5% |
| Recurring financial income | 75 | €4,248 | €62 | -€4,185 | -98.5% |
| Financial charges | 65/66B | €174 | €85 | -€89 | -51.1% |
| Recurring financial charges | 65 | €174 | €85 | -€89 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | €57,222 | €46,299 | -€10,923 | -19.1% |
| Income taxes | 67/77 | €12,520 | €13,773 | +€1,254 | +10.0% |
| Profit (loss) for the period | 9904 | €44,702 | €32,525 | -€12,177 | -27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,702 | €32,525 | -€12,177 | -27.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.