EBS-SHIELD: 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.
EBS-SHIELD
Largest movements
- Cash +€43,267
up €43,267 (+59.3%), from €73,015 to €116,282
mainly Net result for the year (+€36,978) and Depreciation (+€29,031)
- Tangible fixed assets -€29,031
down €29,031 (-24.8%), from €117,086 to €88,055
of which Furniture and vehicles: -€26,746
- Receivables within one year +€7,638
up €7,638 (+11.2%), from €67,940 to €75,577
of which Other amounts receivable: +€7,238
- Profit (loss) carried forward +€36,978
up €36,978 (+44.8%), from -€82,527 to -€45,549
- Trade debts +€15,587
up €15,587 (+26.9%), from €57,949 to €73,536
- Other debts -€13,714
down €13,714 (-35.6%), from €38,482 to €24,768
- Debts after one year -€12,437
down €12,437 (-37.3%), from €33,314 to €20,877
- Tax, wage and social debts -€4,685
down €4,685 (-11.1%), from €42,332 to €37,648
of which Remuneration and social security: -€5,958
- Gross operating margin +€38,250
up €38,250 (+13.9%), from €274,367 to €312,617
- Depreciation +€11,075
up €11,075 (+61.7%), from €17,956 to €29,031
- Staff costs +€3,506
up €3,506 (+1.5%), from €237,783 to €241,289
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.
Cash bridge derived
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 | €262,497 | €284,776 | +€22,278 | +8.5% |
| Fixed assets | 21/28 | €117,286 | €88,255 | -€29,031 | -24.8% |
| Tangible fixed assets | 22/27 | €117,086 | €88,055 | -€29,031 | -24.8% |
| Plant, machinery and equipment | 23 | €1,087 | €415 | -€673 | -61.9% |
| Furniture and vehicles | 24 | €112,183 | €85,437 | -€26,746 | -23.8% |
| Other tangible fixed assets | 26 | €3,816 | €2,203 | -€1,612 | -42.3% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €145,211 | €196,520 | +€51,309 | +35.3% |
| Amounts receivable within one year | 40/41 | €67,940 | €75,577 | +€7,638 | +11.2% |
| Trade receivables | 40 | €60,415 | €60,815 | +€400 | +0.7% |
| Other amounts receivable | 41 | €7,525 | €14,762 | +€7,238 | +96.2% |
| Cash at bank and in hand | 54/58 | €73,015 | €116,282 | +€43,267 | +59.3% |
| Deferred charges and accrued income | 490/1 | €4,257 | €4,661 | +€404 | +9.5% |
| Total equity and liabilities | 10/49 | €262,497 | €284,776 | +€22,278 | +8.5% |
| Equity | 10/15 | €76,032 | €113,010 | +€36,978 | +48.6% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Reserves | 13 | €151,359 | €151,359 | = | 0.0% |
| Distributable reserves | 133 | €151,359 | €151,359 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,527 | -€45,549 | +€36,978 | +44.8% |
| Amounts payable | 17/49 | €186,465 | €171,766 | -€14,700 | -7.9% |
| Amounts payable after more than one year | 17 | €33,314 | €20,877 | -€12,437 | -37.3% |
| Financial debts | 170/4 | €33,314 | €20,877 | -€12,437 | -37.3% |
| Amounts payable within one year | 42/48 | €153,151 | €150,889 | -€2,262 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €11,888 | €12,437 | +€549 | +4.6% |
| Financial debts | 43 | €2,500 | €2,500 | = | 0.0% |
| Credit institutions | 430/8 | €2,500 | €2,500 | = | 0.0% |
| Trade debts | 44 | €57,949 | €73,536 | +€15,587 | +26.9% |
| Suppliers | 440/4 | €57,949 | €73,536 | +€15,587 | +26.9% |
| Taxes, remuneration and social security | 45 | €42,332 | €37,648 | -€4,685 | -11.1% |
| Taxes | 450/3 | €7,722 | €8,995 | +€1,273 | +16.5% |
| Remuneration and social security | 454/9 | €34,610 | €28,652 | -€5,958 | -17.2% |
| Other amounts payable | 47/48 | €38,482 | €24,768 | -€13,714 | -35.6% |
| Non-recurring operating income | 76A | €26,743 | - | -€26,743 | |
| Remuneration, social security and pensions | 62 | €237,783 | €241,289 | +€3,506 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,956 | €29,031 | +€11,075 | +61.7% |
| Other operating charges | 640/8 | €2,550 | €2,786 | +€236 | +9.2% |
| Non-recurring operating charges | 66A | €33,787 | - | -€33,787 | |
| Gross operating margin | 9900 | €274,367 | €312,617 | +€38,250 | +13.9% |
| Operating profit (loss) | 9901 | -€17,709 | €39,511 | +€57,220 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +66.7% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +66.7% |
| Financial charges | 65/66B | €2,037 | €2,534 | +€496 | +24.4% |
| Recurring financial charges | 65 | €2,037 | €2,534 | +€496 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,746 | €36,978 | +€56,724 | |
| Income taxes | 67/77 | €238 | - | -€238 | |
| Profit (loss) for the period | 9904 | -€19,984 | €36,978 | +€56,962 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,984 | €36,978 | +€56,962 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.