WHITESPRAY: 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.
WHITESPRAY
Largest movements
- Current investments -€24,344
down €24,344 (-14.9%), from €163,378 to €139,034
- Cash +€6,016
up €6,016 (+172%), from €3,489 to €9,505
mainly Current investments (+€24,344) and Tax, wage and social debts (+€1,170)
- Receivables within one year +€1,923
up €1,923 (+20.6%), from €9,352 to €11,275
of which Trade receivables: +€2,846
- Reserves -€9,452
down €9,452 (-11.9%), from €79,323 to €69,871
- Other debts -€6,845
down €6,845 (-10.1%), from €68,104 to €61,260
- Trade debts -€1,811
down €1,811 (-64.4%), from €2,815 to €1,003
- Gross operating margin -€3,359
down €3,359 (-56.4%), from -€5,953 to -€9,311
- Depreciation -€762
down €762 (-57.2%), from €1,331 to €569
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 | €180,242 | €163,305 | -€16,938 | -9.4% |
| Fixed assets | 21/28 | €3,469 | €2,900 | -€569 | -16.4% |
| Tangible fixed assets | 22/27 | €3,469 | €2,900 | -€569 | -16.4% |
| Furniture and vehicles | 24 | €569 | €0 | -€569 | -100% |
| Other tangible fixed assets | 26 | €2,900 | €2,900 | = | 0.0% |
| Current assets | 29/58 | €176,773 | €160,405 | -€16,368 | -9.3% |
| Amounts receivable within one year | 40/41 | €9,352 | €11,275 | +€1,923 | +20.6% |
| Trade receivables | 40 | €8,123 | €10,969 | +€2,846 | +35.0% |
| Other amounts receivable | 41 | €1,229 | €306 | -€924 | -75.1% |
| Current investments | 50/53 | €163,378 | €139,034 | -€24,344 | -14.9% |
| Cash at bank and in hand | 54/58 | €3,489 | €9,505 | +€6,016 | +172% |
| Deferred charges and accrued income | 490/1 | €554 | €590 | +€37 | +6.6% |
| Total equity and liabilities | 10/49 | €180,242 | €163,305 | -€16,938 | -9.4% |
| Equity | 10/15 | €109,323 | €99,871 | -€9,452 | -8.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €79,323 | €69,871 | -€9,452 | -11.9% |
| Distributable reserves | 133 | €79,323 | €69,871 | -€9,452 | -11.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,919 | €63,434 | -€7,486 | -10.6% |
| Amounts payable within one year | 42/48 | €70,919 | €63,434 | -€7,486 | -10.6% |
| Trade debts | 44 | €2,815 | €1,003 | -€1,811 | -64.4% |
| Suppliers | 440/4 | €2,815 | €1,003 | -€1,811 | -64.4% |
| Taxes, remuneration and social security | 45 | - | €1,170 | +€1,170 | |
| Taxes | 450/3 | - | €1,170 | +€1,170 | |
| Other amounts payable | 47/48 | €68,104 | €61,260 | -€6,845 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,331 | €569 | -€762 | -57.2% |
| Other operating charges | 640/8 | €353 | €306 | -€46 | -13.1% |
| Gross operating margin | 9900 | -€5,953 | -€9,311 | -€3,359 | -56.4% |
| Operating profit (loss) | 9901 | -€7,636 | -€10,187 | -€2,550 | -33.4% |
| Financial income | 75/76B | €981 | €942 | -€39 | -4.0% |
| Recurring financial income | 75 | €981 | €942 | -€39 | -4.0% |
| Financial charges | 65/66B | €91 | €75 | -€16 | -17.4% |
| Recurring financial charges | 65 | €91 | €75 | -€16 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,746 | -€9,320 | -€2,573 | -38.1% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€6,874 | -€9,452 | -€2,577 | -37.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,874 | -€9,452 | -€2,577 | -37.5% |
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 17 October 2026 via checked.be.