NEW SHANGHAI: 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.
NEW SHANGHAI
Largest movements
- Receivables within one year +€16,031
up €16,031 (+6.8%), from €234,219 to €250,250
- Cash +€3,983
up €3,983 (+5.7%), from €69,838 to €73,821
mainly Net result for the year (+€20,565) and Depreciation (+€2,026)
- Reserves +€20,565
up €20,565 (+7.2%), from €284,300 to €304,865
of which Distributable reserves: +€20,565
- Gross operating margin -€9,814
down €9,814 (-14.0%), from €69,993 to €60,180
- Staff costs -€8,650
down €8,650 (-17.7%), from €48,858 to €40,208
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 | €310,495 | €330,794 | +€20,300 | +6.5% |
| Fixed assets | 21/28 | €4,651 | €4,936 | +€285 | +6.1% |
| Tangible fixed assets | 22/27 | €4,651 | €4,936 | +€285 | +6.1% |
| Plant, machinery and equipment | 23 | €2,994 | €4,427 | +€1,433 | +47.9% |
| Furniture and vehicles | 24 | €1,427 | €509 | -€918 | -64.3% |
| Other tangible fixed assets | 26 | €230 | - | -€230 | |
| Current assets | 29/58 | €305,844 | €325,858 | +€20,015 | +6.5% |
| Stocks and contracts in progress | 3 | €1,787 | €1,787 | = | 0.0% |
| Stocks | 30/36 | €1,787 | €1,787 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €234,219 | €250,250 | +€16,031 | +6.8% |
| Other amounts receivable | 41 | €234,219 | €250,250 | +€16,031 | +6.8% |
| Cash at bank and in hand | 54/58 | €69,838 | €73,821 | +€3,983 | +5.7% |
| Total equity and liabilities | 10/49 | €310,495 | €330,794 | +€20,300 | +6.5% |
| Equity | 10/15 | €302,900 | €323,465 | +€20,565 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €284,300 | €304,865 | +€20,565 | +7.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €282,440 | €303,005 | +€20,565 | +7.3% |
| Amounts payable | 17/49 | €7,594 | €7,330 | -€265 | -3.5% |
| Amounts payable within one year | 42/48 | €7,594 | €7,330 | -€265 | -3.5% |
| Trade debts | 44 | €5,846 | €5,969 | +€123 | +2.1% |
| Suppliers | 440/4 | €5,846 | €5,969 | +€123 | +2.1% |
| Taxes, remuneration and social security | 45 | €1,748 | €1,360 | -€388 | -22.2% |
| Taxes | 450/3 | €1,748 | €1,360 | -€388 | -22.2% |
| Remuneration, social security and pensions | 62 | €48,858 | €40,208 | -€8,650 | -17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,400 | €2,026 | -€374 | -15.6% |
| Other operating charges | 640/8 | €2,112 | €2,180 | +€68 | +3.2% |
| Gross operating margin | 9900 | €69,993 | €60,180 | -€9,814 | -14.0% |
| Operating profit (loss) | 9901 | €16,623 | €15,765 | -€858 | -5.2% |
| Financial income | 75/76B | €12,822 | €12,538 | -€284 | -2.2% |
| Recurring financial income | 75 | €12,822 | €12,538 | -€284 | -2.2% |
| Financial charges | 65/66B | €98 | €58 | -€40 | -40.5% |
| Recurring financial charges | 65 | €98 | €58 | -€40 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €29,348 | €28,245 | -€1,103 | -3.8% |
| Income taxes | 67/77 | €8,000 | €7,681 | -€319 | -4.0% |
| Profit (loss) for the period | 9904 | €21,348 | €20,565 | -€783 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,348 | €20,565 | -€783 | -3.7% |
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 29 October 2026 via checked.be.