H. Schockaert: 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.
H. Schockaert
Largest movements
- Tangible fixed assets +€192,711
up €192,711 (+94.4%), from €204,148 to €396,859
of which Furniture and vehicles: +€193,246
- Cash -€14,174
down €14,174 (-69.6%), from €20,380 to €6,205
mainly Investment in fixed assets (net) (-€235,131) and Net result for the year (-€18,929)
- Receivables within one year -€8,352
down €8,352 (-13.8%), from €60,690 to €52,337
of which Trade receivables: -€6,811
- Debts after one year +€105,807
up €105,807 (+402%), from €26,348 to €132,155
- Other debts +€75,474
up €75,474 (+467%), from €16,161 to €91,635
- Current portion of long-term debt +€21,660
up €21,660 (+91.6%), from €23,640 to €45,300
- Profit (loss) carried forward -€18,929
down €18,929 (-10.4%), from €181,813 to €162,884
- Trade debts -€18,777
down €18,777 (-79.7%), from €23,564 to €4,787
- Depreciation +€20,597
up €20,597 (+94.4%), from €21,823 to €42,420
- Gross operating margin -€16,988
down €16,988 (-29.7%), from €57,288 to €40,300
- Other operating charges -€3,888
down €3,888 (-50.2%), from €7,737 to €3,849
- Staff costs +€3,515
new in 2025: €3,515
- Taxes +€2,165
up €2,165 (+810%), from €267 to €2,432
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 | €321,476 | €486,733 | +€165,257 | +51.4% |
| Fixed assets | 21/28 | €204,148 | €396,859 | +€192,711 | +94.4% |
| Tangible fixed assets | 22/27 | €204,148 | €396,859 | +€192,711 | +94.4% |
| Land and buildings | 22 | €141,076 | €138,196 | -€2,880 | -2.0% |
| Plant, machinery and equipment | 23 | €1,791 | €4,137 | +€2,346 | +131% |
| Furniture and vehicles | 24 | €61,281 | €254,526 | +€193,246 | +315% |
| Current assets | 29/58 | €117,328 | €89,874 | -€27,454 | -23.4% |
| Stocks and contracts in progress | 3 | €33,734 | €31,234 | -€2,500 | -7.4% |
| Stocks | 30/36 | €33,734 | €31,234 | -€2,500 | -7.4% |
| Amounts receivable within one year | 40/41 | €60,690 | €52,337 | -€8,352 | -13.8% |
| Trade receivables | 40 | €19,767 | €12,956 | -€6,811 | -34.5% |
| Other amounts receivable | 41 | €40,923 | €39,381 | -€1,542 | -3.8% |
| Cash at bank and in hand | 54/58 | €20,380 | €6,205 | -€14,174 | -69.6% |
| Deferred charges and accrued income | 490/1 | €2,525 | €98 | -€2,427 | -96.1% |
| Total equity and liabilities | 10/49 | €321,476 | €486,733 | +€165,257 | +51.4% |
| Equity | 10/15 | €231,762 | €212,833 | -€18,929 | -8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,349 | €31,349 | = | 0.0% |
| Distributable reserves | 133 | €31,349 | €31,349 | = | 0.0% |
| Profit (loss) carried forward | 14 | €181,813 | €162,884 | -€18,929 | -10.4% |
| Amounts payable | 17/49 | €89,714 | €273,900 | +€184,186 | +205% |
| Amounts payable after more than one year | 17 | €26,348 | €132,155 | +€105,807 | +402% |
| Financial debts | 170/4 | €26,348 | €132,155 | +€105,807 | +402% |
| Amounts payable within one year | 42/48 | €63,365 | €141,745 | +€78,379 | +124% |
| Current portion of amounts payable after more than one year | 42 | €23,640 | €45,300 | +€21,660 | +91.6% |
| Trade debts | 44 | €23,564 | €4,787 | -€18,777 | -79.7% |
| Suppliers | 440/4 | €23,564 | €4,787 | -€18,777 | -79.7% |
| Taxes, remuneration and social security | 45 | - | €22 | +€22 | |
| Remuneration and social security | 454/9 | - | €22 | +€22 | |
| Other amounts payable | 47/48 | €16,161 | €91,635 | +€75,474 | +467% |
| Remuneration, social security and pensions | 62 | - | €3,515 | +€3,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,823 | €42,420 | +€20,597 | +94.4% |
| Other operating charges | 640/8 | €7,737 | €3,849 | -€3,888 | -50.2% |
| Gross operating margin | 9900 | €57,288 | €40,300 | -€16,988 | -29.7% |
| Operating profit (loss) | 9901 | €27,728 | -€9,485 | -€37,213 | |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €5,185 | €7,012 | +€1,828 | +35.3% |
| Recurring financial charges | 65 | €5,185 | €7,012 | +€1,828 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €22,550 | -€16,497 | -€39,048 | |
| Income taxes | 67/77 | €267 | €2,432 | +€2,165 | +810% |
| Profit (loss) for the period | 9904 | €22,283 | -€18,929 | -€41,213 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,283 | -€18,929 | -€41,213 |
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 24 October 2026 via checked.be.