M.SHAN: 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.
M.SHAN
Largest movements
- Receivables within one year +€6,325
up €6,325 (+209%), from €3,023 to €9,349
- Cash -€2,862
down €2,862 (-4.8%), from €59,090 to €56,228
mainly Trade debts (-€7,294) and Receivables within one year (-€6,325)
- Stocks and contracts -€835
down €835 (-9.9%), from €8,405 to €7,569
- Other debts +€11,977
up €11,977 (+68.8%), from €17,404 to €29,381
- Trade debts -€7,294
down €7,294 (-67.8%), from €10,754 to €3,461
- Profit (loss) carried forward -€2,095
down €2,095 (-8.1%), from €25,795 to €23,700
- Staff costs +€3,951
up €3,951 (+266%), from €1,484 to €5,434
- Other operating charges -€1,951
down €1,951 (-55.2%), from €3,534 to €1,584
- Gross operating margin +€1,147
up €1,147 (+15.2%), from €7,546 to €8,694
- Financial charges +€990
up €990 (+35.6%), from €2,781 to €3,771
- Taxes -€176
no longer reported in 2022 (was €176)
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €71,108 | €74,114 | +€3,006 | +4.2% |
| Fixed assets | 21/28 | €425 | €425 | = | 0.0% |
| Financial fixed assets | 28 | €425 | €425 | = | 0.0% |
| Current assets | 29/58 | €70,683 | €73,689 | +€3,006 | +4.3% |
| Stocks and contracts in progress | 3 | €8,405 | €7,569 | -€835 | -9.9% |
| Stocks | 30/36 | €8,405 | €7,569 | -€835 | -9.9% |
| Amounts receivable within one year | 40/41 | €3,023 | €9,349 | +€6,325 | +209% |
| Other amounts receivable | 41 | €3,023 | €9,349 | +€6,325 | +209% |
| Cash at bank and in hand | 54/58 | €59,090 | €56,228 | -€2,862 | -4.8% |
| Deferred charges and accrued income | 490/1 | €164 | €543 | +€379 | +231% |
| Total equity and liabilities | 10/49 | €71,108 | €74,114 | +€3,006 | +4.2% |
| Equity | 10/15 | €39,456 | €37,361 | -€2,095 | -5.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €7,461 | €7,461 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,237 | €1,237 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,237 | €1,237 | = | 0.0% |
| Distributable reserves | 133 | €6,224 | €6,224 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,795 | €23,700 | -€2,095 | -8.1% |
| Amounts payable | 17/49 | €31,652 | €36,753 | +€5,101 | +16.1% |
| Amounts payable within one year | 42/48 | €31,652 | €36,753 | +€5,101 | +16.1% |
| Trade debts | 44 | €10,754 | €3,461 | -€7,294 | -67.8% |
| Suppliers | 440/4 | €10,754 | €3,461 | -€7,294 | -67.8% |
| Taxes, remuneration and social security | 45 | €3,494 | €3,911 | +€417 | +11.9% |
| Taxes | 450/3 | €3,494 | €3,911 | +€417 | +11.9% |
| Other amounts payable | 47/48 | €17,404 | €29,381 | +€11,977 | +68.8% |
| Remuneration, social security and pensions | 62 | €1,484 | €5,434 | +€3,951 | +266% |
| Other operating charges | 640/8 | €3,534 | €1,584 | -€1,951 | -55.2% |
| Gross operating margin | 9900 | €7,546 | €8,694 | +€1,147 | +15.2% |
| Operating profit (loss) | 9901 | €2,528 | €1,676 | -€853 | -33.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | +2,200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +2,200% |
| Financial charges | 65/66B | €2,781 | €3,771 | +€990 | +35.6% |
| Recurring financial charges | 65 | €2,781 | €3,771 | +€990 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | -€252 | -€2,095 | -€1,843 | -731% |
| Income taxes | 67/77 | €176 | - | -€176 | |
| Profit (loss) for the period | 9904 | -€428 | -€2,095 | -€1,667 | -389% |
| Profit (loss) for the period to be appropriated | 9905 | -€428 | -€2,095 | -€1,667 | -389% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.