AN SHIBIN: 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.
AN SHIBIN
Largest movements
- Cash +€35,693
up €35,693 (+76.7%), from €46,522 to €82,215
mainly Trade debts (+€18,296) and Net result for the year (+€17,534)
- Stocks and contracts +€9,788
up €9,788 (+104%), from €9,415 to €19,202
- Tangible fixed assets -€3,881
down €3,881 (-24.9%), from €15,566 to €11,685
of which Furniture and vehicles: -€2,075
- Receivables within one year +€1,729
up €1,729 (+38.3%), from €4,515 to €6,244
of which Other amounts receivable: +€1,892
- Trade debts +€18,296
up €18,296 (+73.2%), from €24,991 to €43,287
- Profit (loss) carried forward +€17,534
up €17,534 (+77.3%), from -€22,679 to -€5,145
- Other debts +€9,766
up €9,766 (+1,748%), from €559 to €10,325
- Current portion of long-term debt -€3,077
down €3,077 (-74.7%), from €4,117 to €1,040
- Tax, wage and social debts +€1,617
up €1,617 (+6.2%), from €26,081 to €27,698
of which Remuneration and social security: +€3,911
- Gross operating margin +€46,865
up €46,865 (+20.8%), from €225,156 to €272,021
- Staff costs +€13,692
up €13,692 (+6.0%), from €227,508 to €241,200
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 | €78,331 | €121,577 | +€43,246 | +55.2% |
| Fixed assets | 21/28 | €17,880 | €13,447 | -€4,433 | -24.8% |
| Intangible fixed assets | 21 | €1,494 | €942 | -€552 | -36.9% |
| Tangible fixed assets | 22/27 | €15,566 | €11,685 | -€3,881 | -24.9% |
| Plant, machinery and equipment | 23 | €3,343 | €2,085 | -€1,258 | -37.6% |
| Furniture and vehicles | 24 | €10,952 | €8,877 | -€2,075 | -18.9% |
| Other tangible fixed assets | 26 | €1,271 | €723 | -€548 | -43.1% |
| Financial fixed assets | 28 | €820 | €820 | = | 0.0% |
| Current assets | 29/58 | €60,452 | €108,130 | +€47,679 | +78.9% |
| Stocks and contracts in progress | 3 | €9,415 | €19,202 | +€9,788 | +104% |
| Stocks | 30/36 | €9,415 | €19,202 | +€9,788 | +104% |
| Amounts receivable within one year | 40/41 | €4,515 | €6,244 | +€1,729 | +38.3% |
| Trade receivables | 40 | €499 | €337 | -€162 | -32.5% |
| Other amounts receivable | 41 | €4,016 | €5,908 | +€1,892 | +47.1% |
| Cash at bank and in hand | 54/58 | €46,522 | €82,215 | +€35,693 | +76.7% |
| Deferred charges and accrued income | 490/1 | €0 | €469 | +€469 | |
| Total equity and liabilities | 10/49 | €78,331 | €121,577 | +€43,246 | +55.2% |
| Equity | 10/15 | €17,337 | €34,871 | +€17,534 | +101% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €33,818 | €33,818 | = | 0.0% |
| Distributable reserves | 133 | €33,818 | €33,818 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,679 | -€5,145 | +€17,534 | +77.3% |
| Amounts payable | 17/49 | €60,995 | €86,706 | +€25,711 | +42.2% |
| Amounts payable after more than one year | 17 | €1,040 | €0 | -€1,040 | -100% |
| Financial debts | 170/4 | €1,040 | €0 | -€1,040 | -100% |
| Amounts payable within one year | 42/48 | €59,955 | €86,706 | +€26,751 | +44.6% |
| Current portion of amounts payable after more than one year | 42 | €4,117 | €1,040 | -€3,077 | -74.7% |
| Financial debts | 43 | €4,208 | €4,357 | +€149 | +3.5% |
| Credit institutions | 430/8 | €4,208 | €4,357 | +€149 | +3.5% |
| Trade debts | 44 | €24,991 | €43,287 | +€18,296 | +73.2% |
| Suppliers | 440/4 | €24,991 | €43,287 | +€18,296 | +73.2% |
| Taxes, remuneration and social security | 45 | €26,081 | €27,698 | +€1,617 | +6.2% |
| Taxes | 450/3 | €4,553 | €2,258 | -€2,294 | -50.4% |
| Remuneration and social security | 454/9 | €21,528 | €25,439 | +€3,911 | +18.2% |
| Other amounts payable | 47/48 | €559 | €10,325 | +€9,766 | +1,748% |
| Remuneration, social security and pensions | 62 | €227,508 | €241,200 | +€13,692 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,660 | €11,507 | +€847 | +7.9% |
| Other operating charges | 640/8 | €4,408 | €5,604 | +€1,197 | +27.2% |
| Gross operating margin | 9900 | €225,156 | €272,021 | +€46,865 | +20.8% |
| Operating profit (loss) | 9901 | -€17,419 | €13,710 | +€31,129 | |
| Financial income | 75/76B | €4,073 | €5,389 | +€1,316 | +32.3% |
| Recurring financial income | 75 | €4,073 | €5,389 | +€1,316 | +32.3% |
| Financial charges | 65/66B | €1,365 | €1,433 | +€68 | +5.0% |
| Recurring financial charges | 65 | €1,365 | €1,433 | +€68 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,711 | €17,666 | +€32,377 | |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€14,839 | €17,534 | +€32,373 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,839 | €17,534 | +€32,373 |
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 26 October 2026 via checked.be.