De Boeck Shane: 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.
De Boeck Shane
Largest movements
- Tangible fixed assets -€51,593
down €51,593 (-25.0%), from €206,110 to €154,517
of which Furniture and vehicles: -€28,742
- Cash -€43,419
down €43,419 (-76.1%), from €57,023 to €13,604
mainly Contributions, distributions and other (-€109,079) and Debts after one year (-€48,843)
- Profit (loss) carried forward -€77,122
down €77,122 (-77.6%), from €99,403 to €22,281
- Debts after one year -€48,843
down €48,843 (-43.2%), from €112,952 to €64,109
- Other debts +€36,072
up €36,072 (+61.1%), from €58,996 to €95,067
- Trade debts -€6,178
down €6,178 (-69.7%), from €8,866 to €2,688
- Gross operating margin -€63,479
down €63,479 (-33.2%), from €191,342 to €127,863
- Taxes -€16,513
down €16,513 (-67.3%), from €24,554 to €8,041
- Depreciation +€6,352
up €6,352 (+11.9%), from €53,474 to €59,826
- Other operating charges +€3,215
up €3,215 (+136%), from €2,358 to €5,573
- Financial charges -€2,219
down €2,219 (-32.8%), from €6,765 to €4,546
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 | €338,621 | €240,696 | -€97,925 | -28.9% |
| Fixed assets | 21/28 | €225,112 | €171,770 | -€53,342 | -23.7% |
| Intangible fixed assets | 21 | €5,247 | €3,498 | -€1,749 | -33.3% |
| Tangible fixed assets | 22/27 | €206,110 | €154,517 | -€51,593 | -25.0% |
| Plant, machinery and equipment | 23 | €170,130 | €147,279 | -€22,851 | -13.4% |
| Furniture and vehicles | 24 | €35,980 | €7,238 | -€28,742 | -79.9% |
| Financial fixed assets | 28 | €13,755 | €13,755 | = | 0.0% |
| Current assets | 29/58 | €113,509 | €68,926 | -€44,583 | -39.3% |
| Amounts receivable within one year | 40/41 | €56,072 | €55,018 | -€1,054 | -1.9% |
| Trade receivables | 40 | €50,355 | €39,828 | -€10,527 | -20.9% |
| Other amounts receivable | 41 | €5,718 | €15,190 | +€9,472 | +166% |
| Cash at bank and in hand | 54/58 | €57,023 | €13,604 | -€43,419 | -76.1% |
| Deferred charges and accrued income | 490/1 | €413 | €305 | -€109 | -26.3% |
| Total equity and liabilities | 10/49 | €338,621 | €240,696 | -€97,925 | -28.9% |
| Equity | 10/15 | €102,403 | €25,281 | -€77,122 | -75.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,403 | €22,281 | -€77,122 | -77.6% |
| Amounts payable | 17/49 | €236,218 | €215,415 | -€20,803 | -8.8% |
| Amounts payable after more than one year | 17 | €112,952 | €64,109 | -€48,843 | -43.2% |
| Financial debts | 170/4 | €112,952 | €64,109 | -€48,843 | -43.2% |
| Amounts payable within one year | 42/48 | €123,064 | €151,306 | +€28,242 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €47,409 | €48,843 | +€1,434 | +3.0% |
| Trade debts | 44 | €8,866 | €2,688 | -€6,178 | -69.7% |
| Suppliers | 440/4 | €8,866 | €2,688 | -€6,178 | -69.7% |
| Taxes, remuneration and social security | 45 | €7,793 | €4,708 | -€3,085 | -39.6% |
| Taxes | 450/3 | €7,793 | €4,708 | -€3,085 | -39.6% |
| Other amounts payable | 47/48 | €58,996 | €95,067 | +€36,072 | +61.1% |
| Accrued charges and deferred income | 492/3 | €202 | €0 | -€202 | -100% |
| Non-recurring operating income | 76A | €7,817 | €0 | -€7,817 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,474 | €59,826 | +€6,352 | +11.9% |
| Other operating charges | 640/8 | €2,358 | €5,573 | +€3,215 | +136% |
| Non-recurring operating charges | 66A | €8,441 | €17,990 | +€9,549 | +113% |
| Gross operating margin | 9900 | €191,342 | €127,863 | -€63,479 | -33.2% |
| Operating profit (loss) | 9901 | €127,068 | €44,473 | -€82,595 | -65.0% |
| Financial income | 75/76B | €329 | €70 | -€259 | -78.7% |
| Recurring financial income | 75 | €329 | €70 | -€259 | -78.7% |
| Financial charges | 65/66B | €6,765 | €4,546 | -€2,219 | -32.8% |
| Recurring financial charges | 65 | €6,765 | €4,546 | -€2,219 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €120,632 | €39,997 | -€80,635 | -66.8% |
| Income taxes | 67/77 | €24,554 | €8,041 | -€16,513 | -67.3% |
| Profit (loss) for the period | 9904 | €96,078 | €31,957 | -€64,122 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €96,078 | €31,957 | -€64,122 | -66.7% |
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 20 October 2026 via checked.be.