SPYCO: 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.
SPYCO
Largest movements
- Receivables within one year +€24,387
up €24,387 (+39.5%), from €61,725 to €86,112
of which Other amounts receivable: +€22,690
- Cash -€17,593
down €17,593 (-72.9%), from €24,143 to €6,550
mainly Receivables within one year (-€24,387) and Tax, wage and social debts (-€2,637)
- Profit (loss) carried forward +€12,205
up €12,205 (+6.8%), from €179,345 to €191,550
- Financial income -€160,790
no longer reported in 2025 (was €160,790)
- Gross operating margin +€3,214
up €3,214 (+21.2%), from €15,194 to €18,408
- Other operating charges +€1,123
up €1,123 (+144.2%), from €779 to €1,902
- Taxes +€601
up €601 (+17.3%), from €3,482 to €4,083
- Staff costs -€333
down €333, from €163 to -€170
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 | €294,515 | €300,037 | +€5,522 | +1.9% |
| Fixed assets | 21/28 | €205,479 | €205,479 | = | 0.0% |
| Financial fixed assets | 28 | €205,479 | €205,479 | = | 0.0% |
| Current assets | 29/58 | €89,036 | €94,558 | +€5,522 | +6.2% |
| Amounts receivable within one year | 40/41 | €61,725 | €86,112 | +€24,387 | +39.5% |
| Trade receivables | 40 | €61,565 | €63,262 | +€1,697 | +2.8% |
| Other amounts receivable | 41 | €160 | €22,850 | +€22,690 | +14181.3% |
| Cash at bank and in hand | 54/58 | €24,143 | €6,550 | -€17,593 | -72.9% |
| Deferred charges and accrued income | 490/1 | €3,168 | €1,896 | -€1,272 | -40.2% |
| Total equity and liabilities | 10/49 | €294,515 | €300,037 | +€5,522 | +1.9% |
| Equity | 10/15 | €275,845 | €288,050 | +€12,205 | +4.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €76,500 | €76,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €74,500 | €74,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €179,345 | €191,550 | +€12,205 | +6.8% |
| Amounts payable | 17/49 | €18,670 | €11,987 | -€6,683 | -35.8% |
| Amounts payable within one year | 42/48 | €11,432 | €7,326 | -€4,106 | -35.9% |
| Trade debts | 44 | €2,145 | €676 | -€1,469 | -68.5% |
| Suppliers | 440/4 | €2,145 | €676 | -€1,469 | -68.5% |
| Taxes, remuneration and social security | 45 | €4,287 | €1,650 | -€2,637 | -61.5% |
| Taxes | 450/3 | €4,287 | €1,650 | -€2,637 | -61.5% |
| Other amounts payable | 47/48 | €5,000 | €5,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,238 | €4,661 | -€2,577 | -35.6% |
| Remuneration, social security and pensions | 62 | €163 | -€170 | -€333 | |
| Other operating charges | 640/8 | €779 | €1,902 | +€1,123 | +144.2% |
| Gross operating margin | 9900 | €15,194 | €18,408 | +€3,214 | +21.2% |
| Operating profit (loss) | 9901 | €14,252 | €16,676 | +€2,424 | +17.0% |
| Financial income | 75/76B | €160,790 | - | -€160,790 | |
| Recurring financial income | 75 | €160,790 | - | -€160,790 | |
| Financial charges | 65/66B | €309 | €388 | +€79 | +25.6% |
| Recurring financial charges | 65 | €309 | €388 | +€79 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | €174,733 | €16,288 | -€158,445 | -90.7% |
| Income taxes | 67/77 | €3,482 | €4,083 | +€601 | +17.3% |
| Profit (loss) for the period | 9904 | €171,251 | €12,205 | -€159,046 | -92.9% |
| Profit (loss) for the period to be appropriated | 9905 | €171,251 | €12,205 | -€159,046 | -92.9% |
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 7 October 2026 via checked.be.