SPS: 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.
SPS
Largest movements
- Cash +€47,246
up €47,246 (+95.7%), from €49,367 to €96,613
mainly Depreciation (+€152,704) and Other debts (+€75,961)
- Tangible fixed assets -€40,555
down €40,555 (-5.6%), from €718,729 to €678,174
of which Furniture and vehicles: -€57,022
- Receivables within one year +€17,375
up €17,375 (+14.1%), from €123,449 to €140,824
of which Trade receivables: +€17,375
- Debts after one year -€95,554
down €95,554 (-34.0%), from €280,986 to €185,432
of which Financial debts: -€62,702
- Other debts +€75,961
up €75,961 (+41.1%), from €184,995 to €260,956
- Profit (loss) carried forward +€66,209
up €66,209 (+70.9%), from -€93,361 to -€27,153
- Trade debts -€34,193
down €34,193 (-59.2%), from €57,714 to €23,521
- Gross operating margin +€146,752
up €146,752 (+40.0%), from €366,780 to €513,532
- Depreciation -€13,302
down €13,302 (-8.0%), from €166,006 to €152,704
- Staff costs +€12,576
up €12,576 (+4.8%), from €262,681 to €275,257
- Other operating charges -€5,689
down €5,689 (-49.3%), from €11,528 to €5,839
- Financial charges -€5,273
down €5,273 (-28.0%), from €18,815 to €13,542
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 | €901,863 | €925,245 | +€23,382 | +2.6% |
| Fixed assets | 21/28 | €722,256 | €680,799 | -€41,457 | -5.7% |
| Intangible fixed assets | 21 | €3,527 | €2,626 | -€901 | -25.6% |
| Tangible fixed assets | 22/27 | €718,729 | €678,174 | -€40,555 | -5.6% |
| Plant, machinery and equipment | 23 | €529,841 | €546,307 | +€16,467 | +3.1% |
| Furniture and vehicles | 24 | €188,888 | €131,866 | -€57,022 | -30.2% |
| Current assets | 29/58 | €179,607 | €244,446 | +€64,839 | +36.1% |
| Amounts receivable within one year | 40/41 | €123,449 | €140,824 | +€17,375 | +14.1% |
| Trade receivables | 40 | €82,184 | €99,559 | +€17,375 | +21.1% |
| Other amounts receivable | 41 | €41,265 | €41,265 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,367 | €96,613 | +€47,246 | +95.7% |
| Deferred charges and accrued income | 490/1 | €6,792 | €7,009 | +€217 | +3.2% |
| Total equity and liabilities | 10/49 | €901,863 | €925,245 | +€23,382 | +2.6% |
| Equity | 10/15 | €218,825 | €285,034 | +€66,209 | +30.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €292,186 | €292,186 | = | 0.0% |
| Tax-exempt reserves | 132 | €365 | €365 | = | 0.0% |
| Distributable reserves | 133 | €291,821 | €291,821 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,361 | -€27,153 | +€66,209 | +70.9% |
| Amounts payable | 17/49 | €683,038 | €640,212 | -€42,827 | -6.3% |
| Amounts payable after more than one year | 17 | €280,986 | €185,432 | -€95,554 | -34.0% |
| Financial debts | 170/4 | €202,423 | €139,721 | -€62,702 | -31.0% |
| Other amounts payable | 178/9 | €78,563 | €45,711 | -€32,852 | -41.8% |
| Amounts payable within one year | 42/48 | €402,052 | €454,779 | +€52,727 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €134,469 | €140,554 | +€6,085 | +4.5% |
| Trade debts | 44 | €57,714 | €23,521 | -€34,193 | -59.2% |
| Suppliers | 440/4 | €57,714 | €23,521 | -€34,193 | -59.2% |
| Taxes, remuneration and social security | 45 | €24,874 | €29,749 | +€4,874 | +19.6% |
| Taxes | 450/3 | €2,882 | €1,492 | -€1,390 | -48.2% |
| Remuneration and social security | 454/9 | €21,992 | €28,256 | +€6,264 | +28.5% |
| Other amounts payable | 47/48 | €184,995 | €260,956 | +€75,961 | +41.1% |
| Non-recurring operating income | 76A | €1,500 | - | -€1,500 | |
| Remuneration, social security and pensions | 62 | €262,681 | €275,257 | +€12,576 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,006 | €152,704 | -€13,302 | -8.0% |
| Other operating charges | 640/8 | €11,528 | €5,839 | -€5,689 | -49.3% |
| Non-recurring operating charges | 66A | €1,112 | - | -€1,112 | |
| Gross operating margin | 9900 | €366,780 | €513,532 | +€146,752 | +40.0% |
| Operating profit (loss) | 9901 | -€74,546 | €79,731 | +€154,278 | |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €18,815 | €13,542 | -€5,273 | -28.0% |
| Recurring financial charges | 65 | €18,815 | €13,542 | -€5,273 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | -€93,361 | €66,209 | +€159,570 | |
| Profit (loss) for the period | 9904 | -€93,361 | €66,209 | +€159,570 | |
| Profit (loss) for the period to be appropriated | 9905 | -€93,361 | €66,209 | +€159,570 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.