SPYDIS: 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.
SPYDIS
Largest movements
- Receivables within one year -€346,833
down €346,833 (-61.4%), from €564,833 to €218,000
of which Trade receivables: -€196,490
- Cash +€229,523
up €229,523 (+31.9%), from €719,649 to €949,171
mainly Depreciation (+€512,764) and Receivables within one year (+€346,833)
- Tangible fixed assets -€181,089
down €181,089 (-6.9%), from €2.6m to €2.4m
of which Other tangible fixed assets: -€130,514
- Intangible fixed assets -€180,800
down €180,800 (-24.5%), from €737,032 to €556,232
- Debts after one year -€380,392
down €380,392 (-13.0%), from €2.9m to €2.5m
of which Financial debts: -€380,392
- Short-term financial debts -€250,000
down €250,000 (-71.4%), from €350,000 to €100,000
- Current portion of long-term debt +€214,014
up €214,014 (+125.8%), from €170,077 to €384,090
- Profit (loss) carried forward +€153,147
up €153,147 (+70.2%), from €218,107 to €371,254
- Tax, wage and social debts -€144,962
down €144,962 (-59.7%), from €243,017 to €98,055
of which Remuneration and social security: -€99,134
- Gross operating margin +€831,284
up €831,284 (+76.5%), from €1.1m to €1.9m
- Depreciation +€198,277
up €198,277 (+63.0%), from €314,487 to €512,764
- Financial charges +€141,137
up €141,137 (+178.7%), from €78,979 to €220,116
of which Financial charges: +€118,104
- Staff costs +€89,990
up €89,990 (+10.5%), from €855,775 to €945,766
- Other operating charges +€42,548
up €42,548 (+228.8%), from €18,593 to €61,141
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 | €5,274,388 | €4,824,589 | -€449,800 | -8.5% |
| Fixed assets | 21/28 | €3,357,026 | €2,995,138 | -€361,889 | -10.8% |
| Intangible fixed assets | 21 | €737,032 | €556,232 | -€180,800 | -24.5% |
| Tangible fixed assets | 22/27 | €2,619,494 | €2,438,406 | -€181,089 | -6.9% |
| Land and buildings | 22 | €95,079 | €77,408 | -€17,672 | -18.6% |
| Plant, machinery and equipment | 23 | €166,870 | €256,801 | +€89,932 | +53.9% |
| Furniture and vehicles | 24 | €135,380 | €12,545 | -€122,835 | -90.7% |
| Other tangible fixed assets | 26 | €2,222,166 | €2,091,652 | -€130,514 | -5.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,917,362 | €1,829,451 | -€87,911 | -4.6% |
| Stocks and contracts in progress | 3 | €623,402 | €649,011 | +€25,609 | +4.1% |
| Stocks | 30/36 | €623,402 | €649,011 | +€25,609 | +4.1% |
| Amounts receivable within one year | 40/41 | €564,833 | €218,000 | -€346,833 | -61.4% |
| Trade receivables | 40 | €363,154 | €166,664 | -€196,490 | -54.1% |
| Other amounts receivable | 41 | €201,679 | €51,336 | -€150,343 | -74.5% |
| Cash at bank and in hand | 54/58 | €719,649 | €949,171 | +€229,523 | +31.9% |
| Deferred charges and accrued income | 490/1 | €9,479 | €13,269 | +€3,790 | +40.0% |
| Total equity and liabilities | 10/49 | €5,274,388 | €4,824,589 | -€449,800 | -8.5% |
| Equity | 10/15 | €305,358 | €458,506 | +€153,147 | +50.2% |
| Contributions | 10/11 | €87,252 | €87,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | €218,107 | €371,254 | +€153,147 | +70.2% |
| Amounts payable | 17/49 | €4,969,030 | €4,366,083 | -€602,947 | -12.1% |
| Amounts payable after more than one year | 17 | €2,918,723 | €2,538,332 | -€380,392 | -13.0% |
| Financial debts | 170/4 | €2,914,923 | €2,534,532 | -€380,392 | -13.0% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,050,307 | €1,827,751 | -€222,555 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €170,077 | €384,090 | +€214,014 | +125.8% |
| Financial debts | 43 | €350,000 | €100,000 | -€250,000 | -71.4% |
| Credit institutions | 430/8 | €350,000 | €100,000 | -€250,000 | -71.4% |
| Trade debts | 44 | €1,209,498 | €1,231,199 | +€21,701 | +1.8% |
| Suppliers | 440/4 | €1,209,498 | €1,231,199 | +€21,701 | +1.8% |
| Advances received on contracts in progress | 46 | €77,714 | - | -€77,714 | |
| Taxes, remuneration and social security | 45 | €243,017 | €98,055 | -€144,962 | -59.7% |
| Taxes | 450/3 | €54,328 | €8,500 | -€45,828 | -84.4% |
| Remuneration and social security | 454/9 | €188,690 | €89,555 | -€99,134 | -52.5% |
| Other amounts payable | 47/48 | - | €14,407 | +€14,407 | |
| Non-recurring operating income | 76A | - | €228,329 | +€228,329 | |
| Remuneration, social security and pensions | 62 | €855,775 | €945,766 | +€89,990 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314,487 | €512,764 | +€198,277 | +63.0% |
| Other operating charges | 640/8 | €18,593 | €61,141 | +€42,548 | +228.8% |
| Non-recurring operating charges | 66A | €1,436 | €717 | -€719 | -50.1% |
| Gross operating margin | 9900 | €1,086,573 | €1,917,857 | +€831,284 | +76.5% |
| Operating profit (loss) | 9901 | -€103,719 | €397,469 | +€501,188 | |
| Financial income | 75/76B | €754 | €4,298 | +€3,544 | +469.7% |
| Recurring financial income | 75 | €754 | €639 | -€116 | -15.3% |
| Non-recurring financial income | 76B | - | €3,660 | +€3,660 | |
| Financial charges | 65/66B | €78,979 | €220,116 | +€141,137 | +178.7% |
| Recurring financial charges | 65 | €78,979 | €197,083 | +€118,104 | +149.5% |
| Non-recurring financial charges | 66B | - | €23,033 | +€23,033 | |
| Profit (loss) for the period before taxes | 9903 | -€181,943 | €181,652 | +€363,595 | |
| Income taxes | 67/77 | €2,028 | €8,504 | +€6,476 | +319.2% |
| Profit (loss) for the period | 9904 | -€183,972 | €173,147 | +€357,119 | |
| Profit (loss) for the period to be appropriated | 9905 | -€183,972 | €173,147 | +€357,119 |
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.