Mr. SHINE: 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.
Mr. SHINE
Largest movements
- Receivables within one year +€235,113
up €235,113 (+635440.5%), from €37 to €235,150
- Reserves +€115,609
up €115,609 (+308.2%), from €37,513 to €153,122
of which Distributable reserves: +€115,609
- Profit (loss) carried forward +€66,472
no longer reported in 2025 (was -€66,472)
- Tax, wage and social debts +€51,998
up €51,998 (+2072.1%), from €2,509 to €54,507
of which Taxes: +€52,772
- Trade debts +€4,586
up €4,586 (+124.8%), from €3,675 to €8,261
- Other debts -€3,400
down €3,400 (-17.7%), from €19,207 to €15,807
- Gross operating margin +€237,402
up €237,402 (+2119.2%), from €11,202 to €248,604
- Taxes +€54,312
new in 2025: €54,312
- Staff costs -€8,869
down €8,869 (-70.5%), from €12,586 to €3,717
- Financial charges -€3,053
down €3,053 (-72.6%), from €4,207 to €1,154
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 | €15,024 | €250,289 | +€235,264 | +1565.9% |
| Fixed assets | 21/28 | €2,252 | €787 | -€1,465 | -65.0% |
| Tangible fixed assets | 22/27 | €2,252 | €787 | -€1,465 | -65.0% |
| Plant, machinery and equipment | 23 | €706 | €329 | -€376 | -53.3% |
| Furniture and vehicles | 24 | €1,547 | €458 | -€1,089 | -70.4% |
| Current assets | 29/58 | €12,772 | €249,501 | +€236,729 | +1853.5% |
| Amounts receivable within one year | 40/41 | €37 | €235,150 | +€235,113 | +635440.5% |
| Trade receivables | 40 | €37 | €235,150 | +€235,113 | +635440.5% |
| Cash at bank and in hand | 54/58 | €12,735 | €14,351 | +€1,616 | +12.7% |
| Total equity and liabilities | 10/49 | €15,024 | €250,289 | +€235,264 | +1565.9% |
| Equity | 10/15 | -€10,367 | €171,714 | +€182,081 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €37,513 | €153,122 | +€115,609 | +308.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,028 | €10,028 | = | 0.0% |
| Distributable reserves | 133 | €25,626 | €141,235 | +€115,609 | +451.1% |
| Profit (loss) carried forward | 14 | -€66,472 | - | +€66,472 | |
| Amounts payable | 17/49 | €25,391 | €78,575 | +€53,184 | +209.5% |
| Amounts payable within one year | 42/48 | €25,391 | €78,575 | +€53,184 | +209.5% |
| Trade debts | 44 | €3,675 | €8,261 | +€4,586 | +124.8% |
| Suppliers | 440/4 | €3,675 | €8,261 | +€4,586 | +124.8% |
| Taxes, remuneration and social security | 45 | €2,509 | €54,507 | +€51,998 | +2072.1% |
| Taxes | 450/3 | €1,548 | €54,321 | +€52,772 | +3408.9% |
| Remuneration and social security | 454/9 | €961 | €187 | -€775 | -80.6% |
| Other amounts payable | 47/48 | €19,207 | €15,807 | -€3,400 | -17.7% |
| Remuneration, social security and pensions | 62 | €12,586 | €3,717 | -€8,869 | -70.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,978 | €1,465 | -€1,513 | -50.8% |
| Other operating charges | 640/8 | €6,129 | €5,876 | -€253 | -4.1% |
| Gross operating margin | 9900 | €11,202 | €248,604 | +€237,402 | +2119.2% |
| Operating profit (loss) | 9901 | -€10,491 | €237,547 | +€248,037 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €4,207 | €1,154 | -€3,053 | -72.6% |
| Recurring financial charges | 65 | €4,207 | €1,154 | -€3,053 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,696 | €236,393 | +€251,089 | |
| Income taxes | 67/77 | - | €54,312 | +€54,312 | |
| Profit (loss) for the period | 9904 | -€14,696 | €182,081 | +€196,777 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,696 | €182,081 | +€196,777 |
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 10 October 2026 via checked.be.