't Spinnewiel: 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.
't Spinnewiel
Largest movements
- Stocks and contracts +€98,750
up €98,750 (+29.3%), from €337,402 to €436,152
- Cash +€35,286
up €35,286 (+143%), from €24,745 to €60,031
mainly Short-term financial debts (+€75,000) and Depreciation (+€74,457)
- Receivables within one year +€14,049
up €14,049 (+28.1%), from €50,074 to €64,123
of which Trade receivables: +€27,503
- Short-term financial debts +€75,000
new in 2025: €75,000
- Reserves +€47,478
up €47,478 (+10.7%), from €441,878 to €489,356
- Debts after one year -€35,260
down €35,260 (-35.1%), from €100,578 to €65,317
- Trade debts +€24,664
up €24,664 (+93.0%), from €26,525 to €51,189
- Other debts +€21,930
up €21,930 (+11.3%), from €193,267 to €215,197
- Gross operating margin +€67,081
up €67,081 (+28.6%), from €234,596 to €301,677
- Staff costs +€55,052
up €55,052 (+71.0%), from €77,495 to €132,547
- Financial charges +€8,217
up €8,217 (+39.8%), from €20,635 to €28,852
- Depreciation +€7,940
up €7,940 (+11.9%), from €66,517 to €74,457
- Financial income +€3,287
up €3,287 (+32.8%), from €10,016 to €13,303
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 | €912,665 | €1,066,158 | +€153,493 | +16.8% |
| Fixed assets | 21/28 | €494,760 | €496,512 | +€1,752 | +0.4% |
| Intangible fixed assets | 21 | €5,609 | €4,903 | -€706 | -12.6% |
| Tangible fixed assets | 22/27 | €489,151 | €491,609 | +€2,458 | +0.5% |
| Land and buildings | 22 | €359,082 | €319,688 | -€39,394 | -11.0% |
| Plant, machinery and equipment | 23 | €44,632 | €37,384 | -€7,247 | -16.2% |
| Furniture and vehicles | 24 | €35,730 | €23,999 | -€11,731 | -32.8% |
| Other tangible fixed assets | 26 | €49,707 | €110,538 | +€60,830 | +122% |
| Current assets | 29/58 | €417,904 | €569,646 | +€151,741 | +36.3% |
| Stocks and contracts in progress | 3 | €337,402 | €436,152 | +€98,750 | +29.3% |
| Stocks | 30/36 | €337,402 | €436,152 | +€98,750 | +29.3% |
| Amounts receivable within one year | 40/41 | €50,074 | €64,123 | +€14,049 | +28.1% |
| Trade receivables | 40 | €36,621 | €64,123 | +€27,503 | +75.1% |
| Other amounts receivable | 41 | €13,453 | - | -€13,453 | |
| Cash at bank and in hand | 54/58 | €24,745 | €60,031 | +€35,286 | +143% |
| Deferred charges and accrued income | 490/1 | €5,684 | €9,339 | +€3,656 | +64.3% |
| Total equity and liabilities | 10/49 | €912,665 | €1,066,158 | +€153,493 | +16.8% |
| Equity | 10/15 | €517,050 | €564,528 | +€47,478 | +9.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €441,878 | €489,356 | +€47,478 | +10.7% |
| Distributable reserves | 133 | €441,878 | €489,356 | +€47,478 | +10.7% |
| Profit (loss) carried forward | 14 | €172 | €172 | = | 0.0% |
| Amounts payable | 17/49 | €395,614 | €501,630 | +€106,016 | +26.8% |
| Amounts payable after more than one year | 17 | €100,578 | €65,317 | -€35,260 | -35.1% |
| Financial debts | 170/4 | €100,578 | €65,317 | -€35,260 | -35.1% |
| Amounts payable within one year | 42/48 | €283,416 | €424,946 | +€141,531 | +49.9% |
| Current portion of amounts payable after more than one year | 42 | €34,806 | €38,848 | +€4,042 | +11.6% |
| Financial debts | 43 | - | €75,000 | +€75,000 | |
| Credit institutions | 430/8 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €26,525 | €51,189 | +€24,664 | +93.0% |
| Suppliers | 440/4 | €26,525 | €51,189 | +€24,664 | +93.0% |
| Taxes, remuneration and social security | 45 | €28,817 | €44,712 | +€15,895 | +55.2% |
| Taxes | 450/3 | €10,296 | €24,796 | +€14,500 | +141% |
| Remuneration and social security | 454/9 | €18,521 | €19,916 | +€1,395 | +7.5% |
| Other amounts payable | 47/48 | €193,267 | €215,197 | +€21,930 | +11.3% |
| Accrued charges and deferred income | 492/3 | €11,621 | €11,366 | -€255 | -2.2% |
| Remuneration, social security and pensions | 62 | €77,495 | €132,547 | +€55,052 | +71.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,517 | €74,457 | +€7,940 | +11.9% |
| Other operating charges | 640/8 | €6,883 | €4,388 | -€2,495 | -36.2% |
| Gross operating margin | 9900 | €234,596 | €301,677 | +€67,081 | +28.6% |
| Operating profit (loss) | 9901 | €83,701 | €90,285 | +€6,584 | +7.9% |
| Financial income | 75/76B | €10,016 | €13,303 | +€3,287 | +32.8% |
| Recurring financial income | 75 | €10,016 | €13,303 | +€3,287 | +32.8% |
| Financial charges | 65/66B | €20,635 | €28,852 | +€8,217 | +39.8% |
| Recurring financial charges | 65 | €20,635 | €28,852 | +€8,217 | +39.8% |
| Profit (loss) for the period before taxes | 9903 | €73,082 | €74,736 | +€1,654 | +2.3% |
| Income taxes | 67/77 | €26,537 | €26,425 | -€112 | -0.4% |
| Profit (loss) for the period | 9904 | €46,545 | €48,311 | +€1,766 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,545 | €48,311 | +€1,766 | +3.8% |
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 14 October 2026 via checked.be.