SPANAM: 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.
SPANAM
Largest movements
- Cash -€56,697
down €56,697 (-38.6%), from €146,751 to €90,054
mainly Net result for the year (-€37,332) and Accrued charges and deferred income (-€21,184)
- Receivables within one year -€12,339
down €12,339 (-47.5%), from €25,980 to €13,641
of which Other amounts receivable: -€8,372
- Stocks and contracts +€7,895
up €7,895 (+6.4%), from €123,086 to €130,981
- Deferred charges and accrued income +€4,649
up €4,649 (+449%), from €1,036 to €5,685
- Reserves -€213,223
down €213,223 (-76.0%), from €280,641 to €67,418
of which Distributable reserves: -€198,091
- Profit (loss) carried forward +€175,891
no longer reported in 2025 (was -€175,891)
- Accrued charges and deferred income -€21,184
no longer reported in 2025 (was €21,184)
- Tax, wage and social debts -€15,251
down €15,251 (-36.8%), from €41,399 to €26,148
of which Remuneration and social security: -€14,880
- Debts after one year +€11,530
up €11,530 (+80.4%), from €14,339 to €25,869
- Other operating charges +€5,749
up €5,749 (+25.2%), from €22,826 to €28,575
- Financial charges +€3,340
up €3,340 (+29.6%), from €11,285 to €14,625
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 | €327,693 | €269,377 | -€58,316 | -17.8% |
| Formation expenses | 20 | €1,533 | - | -€1,533 | |
| Fixed assets | 21/28 | €29,307 | €29,016 | -€291 | -1.0% |
| Intangible fixed assets | 21 | - | €1,427 | +€1,427 | |
| Tangible fixed assets | 22/27 | €29,059 | €27,341 | -€1,718 | -5.9% |
| Plant, machinery and equipment | 23 | €24,893 | €22,005 | -€2,888 | -11.6% |
| Furniture and vehicles | 24 | €4,166 | €5,336 | +€1,170 | +28.1% |
| Financial fixed assets | 28 | €248 | €248 | -€0 | 0.0% |
| Current assets | 29/58 | €296,853 | €240,362 | -€56,491 | -19.0% |
| Stocks and contracts in progress | 3 | €123,086 | €130,981 | +€7,895 | +6.4% |
| Stocks | 30/36 | €123,086 | €130,981 | +€7,895 | +6.4% |
| Amounts receivable within one year | 40/41 | €25,980 | €13,641 | -€12,339 | -47.5% |
| Trade receivables | 40 | €16,660 | €12,693 | -€3,967 | -23.8% |
| Other amounts receivable | 41 | €9,320 | €948 | -€8,372 | -89.8% |
| Cash at bank and in hand | 54/58 | €146,751 | €90,054 | -€56,697 | -38.6% |
| Deferred charges and accrued income | 490/1 | €1,036 | €5,685 | +€4,649 | +449% |
| Total equity and liabilities | 10/49 | €327,693 | €269,377 | -€58,316 | -17.8% |
| Equity | 10/15 | €129,750 | €92,418 | -€37,332 | -28.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | - | -€25,000 | |
| Issued capital | 100 | €25,000 | - | -€25,000 | |
| Contributions outside capital | 11 | - | €25,000 | +€25,000 | |
| Other | 1109/19 | - | €25,000 | +€25,000 | |
| Reserves | 13 | €280,641 | €67,418 | -€213,223 | -76.0% |
| Non-distributable reserves | 130/1 | €2,500 | - | -€2,500 | |
| Legal reserve | 130 | €2,500 | - | -€2,500 | |
| Tax-exempt reserves | 132 | €12,632 | - | -€12,632 | |
| Distributable reserves | 133 | €265,509 | €67,418 | -€198,091 | -74.6% |
| Profit (loss) carried forward | 14 | -€175,891 | - | +€175,891 | |
| Amounts payable | 17/49 | €197,943 | €176,960 | -€20,983 | -10.6% |
| Amounts payable after more than one year | 17 | €14,339 | €25,869 | +€11,530 | +80.4% |
| Financial debts | 170/4 | €14,339 | €25,869 | +€11,530 | +80.4% |
| Amounts payable within one year | 42/48 | €162,420 | €151,090 | -€11,330 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €8,084 | €8,469 | +€385 | +4.8% |
| Trade debts | 44 | €112,937 | €116,473 | +€3,536 | +3.1% |
| Suppliers | 440/4 | €112,937 | €116,473 | +€3,536 | +3.1% |
| Taxes, remuneration and social security | 45 | €41,399 | €26,148 | -€15,251 | -36.8% |
| Taxes | 450/3 | €522 | €151 | -€371 | -71.0% |
| Remuneration and social security | 454/9 | €40,877 | €25,997 | -€14,880 | -36.4% |
| Accrued charges and deferred income | 492/3 | €21,184 | - | -€21,184 | |
| Remuneration, social security and pensions | 62 | €225,645 | €224,845 | -€800 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,663 | €4,105 | +€1,442 | +54.2% |
| Other operating charges | 640/8 | €22,826 | €28,575 | +€5,749 | +25.2% |
| Gross operating margin | 9900 | €236,904 | €235,181 | -€1,723 | -0.7% |
| Operating profit (loss) | 9901 | -€14,230 | -€22,345 | -€8,115 | -57.0% |
| Financial income | 75/76B | €318 | €447 | +€129 | +40.5% |
| Recurring financial income | 75 | €318 | €447 | +€129 | +40.5% |
| Financial charges | 65/66B | €11,285 | €14,625 | +€3,340 | +29.6% |
| Recurring financial charges | 65 | €11,285 | €14,625 | +€3,340 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,197 | -€36,523 | -€11,326 | -44.9% |
| Income taxes | 67/77 | €276 | €810 | +€534 | +193% |
| Profit (loss) for the period | 9904 | -€25,473 | -€37,332 | -€11,859 | -46.6% |
| Transfer from tax-exempt reserves | 789 | - | €16,048 | +€16,048 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,473 | -€21,285 | +€4,188 | +16.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.