THE SPREADMAKER: 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.
THE SPREADMAKER
Largest movements
- Receivables within one year +€980,963
up €980,963 (+104.4%), from €939,443 to €1.9m
of which Other amounts receivable: +€674,794
- Tangible fixed assets +€682,434
up €682,434 (+143.7%), from €474,917 to €1.2m
of which Plant, machinery and equipment: +€806,719
- Cash -€197,398
down €197,398 (-44.4%), from €444,107 to €246,709
mainly Investment in fixed assets (net) (-€986,118) and Receivables within one year (-€980,963)
- Stocks and contracts +€89,672
up €89,672 (+18.0%), from €498,898 to €588,570
- Reserves +€746,239
up €746,239 (+104.1%), from €716,624 to €1.5m
of which Distributable reserves: +€746,239
- Other debts +€513,981
up €513,981 (+306.4%), from €167,725 to €681,706
- Current portion of long-term debt +€255,183
up €255,183 (+177.9%), from €143,433 to €398,616
- Profit (loss) carried forward +€65,472
no longer reported in 2024 (was -€65,472)
- Trade debts -€41,410
down €41,410 (-3.9%), from €1.1m to €1.0m
- Gross operating margin +€1.3m
up €1.3m (+122.2%), from €1.0m to €2.3m
- Taxes +€288,288
up €288,288 (+80653.7%), from €357 to €288,646
- Staff costs +€63,736
up €63,736 (+9.5%), from €668,212 to €731,948
- Financial income +€34,803
up €34,803 (+2977.7%), from €1,169 to €35,972
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,381,483 | €3,955,479 | +€1.6m | +66.1% |
| Fixed assets | 21/28 | €481,903 | €1,162,940 | +€681,037 | +141.3% |
| Intangible fixed assets | 21 | €6,986 | €5,589 | -€1,397 | -20.0% |
| Tangible fixed assets | 22/27 | €474,917 | €1,157,351 | +€682,434 | +143.7% |
| Land and buildings | 22 | €57,525 | €38,037 | -€19,488 | -33.9% |
| Plant, machinery and equipment | 23 | €84,418 | €891,137 | +€806,719 | +955.6% |
| Furniture and vehicles | 24 | €10,724 | €19,154 | +€8,430 | +78.6% |
| Leasing and similar rights | 25 | €322,251 | €209,023 | -€113,227 | -35.1% |
| Current assets | 29/58 | €1,899,580 | €2,792,539 | +€892,959 | +47.0% |
| Stocks and contracts in progress | 3 | €498,898 | €588,570 | +€89,672 | +18.0% |
| Stocks | 30/36 | €498,898 | €588,570 | +€89,672 | +18.0% |
| Amounts receivable within one year | 40/41 | €939,443 | €1,920,407 | +€980,963 | +104.4% |
| Trade receivables | 40 | €594,471 | €900,640 | +€306,170 | +51.5% |
| Other amounts receivable | 41 | €344,973 | €1,019,766 | +€674,794 | +195.6% |
| Cash at bank and in hand | 54/58 | €444,107 | €246,709 | -€197,398 | -44.4% |
| Deferred charges and accrued income | 490/1 | €17,132 | €36,853 | +€19,721 | +115.1% |
| Total equity and liabilities | 10/49 | €2,381,483 | €3,955,479 | +€1.6m | +66.1% |
| Equity | 10/15 | €669,752 | €1,481,463 | +€811,712 | +121.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €716,624 | €1,462,863 | +€746,239 | +104.1% |
| Non-distributable reserves | 130/1 | €17,688 | €17,688 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,688 | €17,688 | = | 0.0% |
| Distributable reserves | 133 | €698,936 | €1,445,175 | +€746,239 | +106.8% |
| Profit (loss) carried forward | 14 | -€65,472 | - | +€65,472 | |
| Amounts payable | 17/49 | €1,711,731 | €2,474,016 | +€762,285 | +44.5% |
| Amounts payable after more than one year | 17 | €230,557 | €257,993 | +€27,437 | +11.9% |
| Financial debts | 170/4 | €230,557 | €257,993 | +€27,437 | +11.9% |
| Amounts payable within one year | 42/48 | €1,476,544 | €2,209,416 | +€732,871 | +49.6% |
| Current portion of amounts payable after more than one year | 42 | €143,433 | €398,616 | +€255,183 | +177.9% |
| Trade debts | 44 | €1,063,052 | €1,021,642 | -€41,410 | -3.9% |
| Suppliers | 440/4 | €1,063,052 | €1,021,642 | -€41,410 | -3.9% |
| Taxes, remuneration and social security | 45 | €102,334 | €107,451 | +€5,117 | +5.0% |
| Taxes | 450/3 | €18,613 | €19,241 | +€628 | +3.4% |
| Remuneration and social security | 454/9 | €83,721 | €88,209 | +€4,489 | +5.4% |
| Other amounts payable | 47/48 | €167,725 | €681,706 | +€513,981 | +306.4% |
| Accrued charges and deferred income | 492/3 | €4,630 | €6,607 | +€1,977 | +42.7% |
| Remuneration, social security and pensions | 62 | €668,212 | €731,948 | +€63,736 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €317,578 | €305,081 | -€12,497 | -3.9% |
| Other operating charges | 640/8 | €73,750 | €68,474 | -€5,276 | -7.2% |
| Gross operating margin | 9900 | €1,046,449 | €2,324,876 | +€1.3m | +122.2% |
| Operating profit (loss) | 9901 | -€13,091 | €1,219,373 | +€1.2m | |
| Financial income | 75/76B | €1,169 | €35,972 | +€34,803 | +2977.7% |
| Recurring financial income | 75 | €1,169 | €35,972 | +€34,803 | +2977.7% |
| Financial charges | 65/66B | €53,192 | €53,281 | +€89 | +0.2% |
| Recurring financial charges | 65 | €53,192 | €53,281 | +€89 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€65,115 | €1,202,064 | +€1.3m | |
| Income taxes | 67/77 | €357 | €288,646 | +€288,288 | +80653.7% |
| Profit (loss) for the period | 9904 | -€65,472 | €913,418 | +€978,890 | |
| Profit (loss) for the period to be appropriated | 9905 | -€65,472 | €913,418 | +€978,890 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.