THE SPARROW: what changed
THE SPARROW
Largest movements
- Receivables within one year +€4,251
up €4,251 (+159%), from €2,669 to €6,919
of which Trade receivables: +€6,508
- Cash -€3,387
down €3,387 (-12.7%), from €26,626 to €23,239
mainly Tax, wage and social debts (-€9,515) and Receivables within one year (-€4,251)
- Tax, wage and social debts -€9,515
down €9,515 (-49.2%), from €19,349 to €9,834
- Reserves +€7,000
up €7,000 (+8.3%), from €84,000 to €91,000
- Other debts +€4,201
up €4,201 (+7.5%), from €56,150 to €60,351
- Financial income -€9,990
down €9,990 (-48.8%), from €20,465 to €10,474
- Gross operating margin -€6,668
down €6,668 (-51.0%), from €13,066 to €6,398
- Financial charges -€3,670
down €3,670 (-58.6%), from €6,266 to €2,595
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €260,653 | €262,749 | +€2,096 | +0.8% |
| Fixed assets | 21/28 | €222,532 | €222,532 | = | 0.0% |
| Financial fixed assets | 28 | €222,532 | €222,532 | = | 0.0% |
| Current assets | 29/58 | €38,120 | €40,216 | +€2,096 | +5.5% |
| Amounts receivable within one year | 40/41 | €2,669 | €6,919 | +€4,251 | +159% |
| Trade receivables | 40 | - | €6,508 | +€6,508 | |
| Other amounts receivable | 41 | €2,669 | €411 | -€2,258 | -84.6% |
| Current investments | 50/53 | €8,299 | €9,402 | +€1,103 | +13.3% |
| Cash at bank and in hand | 54/58 | €26,626 | €23,239 | -€3,387 | -12.7% |
| Deferred charges and accrued income | 490/1 | €526 | €655 | +€129 | +24.5% |
| Total equity and liabilities | 10/49 | €260,653 | €262,749 | +€2,096 | +0.8% |
| Equity | 10/15 | €182,950 | €189,975 | +€7,025 | +3.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €84,000 | €91,000 | +€7,000 | +8.3% |
| Distributable reserves | 133 | €84,000 | €91,000 | +€7,000 | +8.3% |
| Profit (loss) carried forward | 14 | €68,950 | €68,975 | +€25 | 0.0% |
| Amounts payable | 17/49 | €77,702 | €72,774 | -€4,929 | -6.3% |
| Amounts payable within one year | 42/48 | €77,702 | €72,774 | -€4,929 | -6.3% |
| Trade debts | 44 | €2,204 | €2,589 | +€385 | +17.5% |
| Suppliers | 440/4 | €2,204 | €2,589 | +€385 | +17.5% |
| Taxes, remuneration and social security | 45 | €19,349 | €9,834 | -€9,515 | -49.2% |
| Taxes | 450/3 | €19,349 | €9,834 | -€9,515 | -49.2% |
| Other amounts payable | 47/48 | €56,150 | €60,351 | +€4,201 | +7.5% |
| Other operating charges | 640/8 | €501 | €521 | +€21 | +4.1% |
| Gross operating margin | 9900 | €13,066 | €6,398 | -€6,668 | -51.0% |
| Operating profit (loss) | 9901 | €12,565 | €5,877 | -€6,688 | -53.2% |
| Financial income | 75/76B | €20,465 | €10,474 | -€9,990 | -48.8% |
| Recurring financial income | 75 | €20,465 | €10,474 | -€9,990 | -48.8% |
| Financial charges | 65/66B | €6,266 | €2,595 | -€3,670 | -58.6% |
| Recurring financial charges | 65 | €6,266 | €2,595 | -€3,670 | -58.6% |
| Profit (loss) for the period before taxes | 9903 | €26,765 | €13,756 | -€13,009 | -48.6% |
| Income taxes | 67/77 | €2,850 | €2,731 | -€119 | -4.2% |
| Profit (loss) for the period | 9904 | €23,914 | €11,025 | -€12,890 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,914 | €11,025 | -€12,890 | -53.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.