HIGH SHED: 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.
HIGH SHED
Largest movements
- Stocks and contracts -€28,466
no longer reported in 2025 (was €28,466)
- Cash -€20,959
down €20,959 (-94.1%), from €22,280 to €1,321
mainly Trade debts (-€26,993) and Other debts (-€22,332)
- Trade debts -€26,993
down €26,993 (-58.2%), from €46,376 to €19,383
- Other debts -€22,332
down €22,332 (-70.9%), from €31,500 to €9,168
- Tax, wage and social debts -€1,696
down €1,696 (-63.0%), from €2,691 to €995
of which Remuneration and social security: -€1,494
- Staff costs +€9,466
up €9,466 (+276%), from €3,426 to €12,892
- Gross operating margin +€8,657
up €8,657 (+88.4%), from €9,791 to €18,448
- Other operating charges +€3,583
up €3,583 (+317%), from €1,130 to €4,713
- Taxes -€1,014
no longer reported in 2025 (was €1,014)
- Depreciation +€339
up €339 (+62.9%), from €539 to €878
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 | €104,034 | €52,836 | -€51,198 | -49.2% |
| Fixed assets | 21/28 | €52,393 | €51,515 | -€878 | -1.7% |
| Tangible fixed assets | 22/27 | €2,093 | €1,215 | -€878 | -41.9% |
| Plant, machinery and equipment | 23 | €2,093 | €1,215 | -€878 | -41.9% |
| Financial fixed assets | 28 | €50,300 | €50,300 | = | 0.0% |
| Current assets | 29/58 | €51,641 | €1,321 | -€50,320 | -97.4% |
| Stocks and contracts in progress | 3 | €28,466 | - | -€28,466 | |
| Stocks | 30/36 | €28,466 | - | -€28,466 | |
| Amounts receivable within one year | 40/41 | €895 | - | -€895 | |
| Other amounts receivable | 41 | €895 | - | -€895 | |
| Cash at bank and in hand | 54/58 | €22,280 | €1,321 | -€20,959 | -94.1% |
| Total equity and liabilities | 10/49 | €104,034 | €52,836 | -€51,198 | -49.2% |
| Equity | 10/15 | €23,467 | €23,290 | -€177 | -0.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,467 | €3,290 | -€177 | -5.1% |
| Amounts payable | 17/49 | €80,567 | €29,546 | -€51,021 | -63.3% |
| Amounts payable within one year | 42/48 | €80,567 | €29,546 | -€51,021 | -63.3% |
| Trade debts | 44 | €46,376 | €19,383 | -€26,993 | -58.2% |
| Suppliers | 440/4 | €46,376 | €19,383 | -€26,993 | -58.2% |
| Taxes, remuneration and social security | 45 | €2,691 | €995 | -€1,696 | -63.0% |
| Taxes | 450/3 | €1,197 | €995 | -€202 | -16.9% |
| Remuneration and social security | 454/9 | €1,494 | - | -€1,494 | |
| Other amounts payable | 47/48 | €31,500 | €9,168 | -€22,332 | -70.9% |
| Remuneration, social security and pensions | 62 | €3,426 | €12,892 | +€9,466 | +276% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €539 | €878 | +€339 | +62.9% |
| Other operating charges | 640/8 | €1,130 | €4,713 | +€3,583 | +317% |
| Gross operating margin | 9900 | €9,791 | €18,448 | +€8,657 | +88.4% |
| Operating profit (loss) | 9901 | €4,696 | -€35 | -€4,731 | |
| Financial charges | 65/66B | €215 | €142 | -€73 | -34.0% |
| Recurring financial charges | 65 | €215 | €142 | -€73 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €4,481 | -€177 | -€4,658 | |
| Income taxes | 67/77 | €1,014 | - | -€1,014 | |
| Profit (loss) for the period | 9904 | €3,467 | -€177 | -€3,644 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,467 | -€177 | -€3,644 |
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 17 October 2026 via checked.be.