SCHELL BELGIUM: what changed
Two fiscal 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.
SCHELL BELGIUM
Largest movements
- Receivables within one year -€210,294
down €210,294 (-41.9%), from €501,517 to €291,223
of which Trade receivables: -€179,483
- Cash +€127,230
up €127,230 (+29.2%), from €435,595 to €562,825
mainly Receivables within one year (+€210,294) and Tax, wage and social debts (+€12,171)
- Stocks and contracts -€10,115
down €10,115 (-22.8%), from €44,348 to €34,233
- Trade debts -€91,783
down €91,783 (-11.4%), from €805,211 to €713,429
- Profit (loss) carried forward -€12,795
down €12,795 (-18.7%), from €68,489 to €55,695
- Tax, wage and social debts +€12,171
up €12,171 (+16.6%), from €73,391 to €85,563
- Gross operating margin -€56,003
down €56,003 (-5.3%), from €1.1m to €1.0m
- Staff costs +€39,594
up €39,594 (+5.8%), from €686,233 to €725,827
- Taxes -€19,416
down €19,416 (-85.7%), from €22,654 to €3,238
- Financial charges -€11,279
down €11,279 (-3.9%), from €292,515 to €281,237
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 | €991,864 | €899,458 | -€92,406 | -9.3% |
| Fixed assets | 21/28 | €3,349 | €1,994 | -€1,355 | -40.5% |
| Tangible fixed assets | 22/27 | €2,988 | €1,633 | -€1,355 | -45.3% |
| Plant, machinery and equipment | 23 | €224 | - | -€224 | |
| Furniture and vehicles | 24 | €2,764 | €1,633 | -€1,131 | -40.9% |
| Financial fixed assets | 28 | €361 | €361 | = | 0.0% |
| Current assets | 29/58 | €988,515 | €897,464 | -€91,051 | -9.2% |
| Stocks and contracts in progress | 3 | €44,348 | €34,233 | -€10,115 | -22.8% |
| Stocks | 30/36 | €44,348 | €34,233 | -€10,115 | -22.8% |
| Amounts receivable within one year | 40/41 | €501,517 | €291,223 | -€210,294 | -41.9% |
| Trade receivables | 40 | €428,317 | €248,834 | -€179,483 | -41.9% |
| Other amounts receivable | 41 | €73,200 | €42,389 | -€30,811 | -42.1% |
| Cash at bank and in hand | 54/58 | €435,595 | €562,825 | +€127,230 | +29.2% |
| Deferred charges and accrued income | 490/1 | €7,054 | €9,183 | +€2,128 | +30.2% |
| Total equity and liabilities | 10/49 | €991,864 | €899,458 | -€92,406 | -9.3% |
| Equity | 10/15 | €113,261 | €100,467 | -€12,795 | -11.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €4,772 | €4,772 | = | 0.0% |
| Distributable reserves | 133 | €4,772 | €4,772 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,489 | €55,695 | -€12,795 | -18.7% |
| Amounts payable | 17/49 | €878,603 | €798,991 | -€79,612 | -9.1% |
| Amounts payable within one year | 42/48 | €878,603 | €798,991 | -€79,612 | -9.1% |
| Trade debts | 44 | €805,211 | €713,429 | -€91,783 | -11.4% |
| Suppliers | 440/4 | €805,211 | €713,429 | -€91,783 | -11.4% |
| Taxes, remuneration and social security | 45 | €73,391 | €85,563 | +€12,171 | +16.6% |
| Remuneration and social security | 454/9 | €73,391 | €85,563 | +€12,171 | +16.6% |
| Remuneration, social security and pensions | 62 | €686,233 | €725,827 | +€39,594 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,586 | €1,355 | -€2,231 | -62.2% |
| Other operating charges | 640/8 | €2,033 | €5,237 | +€3,205 | +157.7% |
| Gross operating margin | 9900 | €1,060,082 | €1,004,079 | -€56,003 | -5.3% |
| Operating profit (loss) | 9901 | €368,231 | €271,661 | -€96,570 | -26.2% |
| Financial income | 75/76B | €3 | €20 | +€17 | +560.0% |
| Recurring financial income | 75 | €3 | €20 | +€17 | +560.0% |
| Financial charges | 65/66B | €292,515 | €281,237 | -€11,279 | -3.9% |
| Recurring financial charges | 65 | €292,515 | €281,237 | -€11,279 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €75,718 | -€9,556 | -€85,275 | |
| Income taxes | 67/77 | €22,654 | €3,238 | -€19,416 | -85.7% |
| Profit (loss) for the period | 9904 | €53,065 | -€12,795 | -€65,859 | |
| Profit (loss) for the period to be appropriated | 9905 | €53,065 | -€12,795 | -€65,859 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.