Schildpad: 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.
Schildpad
Largest movements
- Cash -€287,620
down €287,620 (-45.6%), from €630,287 to €342,667
mainly Contributions, distributions and other (-€579,872) and Investment in fixed assets (net) (-€41,054)
- Tangible fixed assets +€28,448
up €28,448 (+16.4%), from €173,032 to €201,480
of which Land and buildings: +€34,528
- Reserves -€370,309
down €370,309 (-63.9%), from €579,872 to €209,563
- Other debts +€120,713
up €120,713 (+256.0%), from €47,145 to €167,858
- Debts after one year -€10,423
down €10,423 (-8.6%), from €121,437 to €111,014
- Gross operating margin +€115,957
up €115,957 (+63.8%), from €181,870 to €297,827
- Taxes +€33,297
up €33,297 (+91.4%), from €36,420 to €69,717
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 | €836,898 | €577,727 | -€259,171 | -31.0% |
| Fixed assets | 21/28 | €173,032 | €201,480 | +€28,448 | +16.4% |
| Tangible fixed assets | 22/27 | €173,032 | €201,480 | +€28,448 | +16.4% |
| Land and buildings | 22 | €145,662 | €180,190 | +€34,528 | +23.7% |
| Furniture and vehicles | 24 | €27,369 | €21,290 | -€6,079 | -22.2% |
| Current assets | 29/58 | €663,867 | €376,247 | -€287,620 | -43.3% |
| Amounts receivable within one year | 40/41 | €33,580 | €33,580 | = | 0.0% |
| Other amounts receivable | 41 | €33,580 | €33,580 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €630,287 | €342,667 | -€287,620 | -45.6% |
| Total equity and liabilities | 10/49 | €836,898 | €577,727 | -€259,171 | -31.0% |
| Equity | 10/15 | €581,872 | €211,563 | -€370,309 | -63.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €579,872 | €209,563 | -€370,309 | -63.9% |
| Distributable reserves | 133 | €579,872 | €209,563 | -€370,309 | -63.9% |
| Amounts payable | 17/49 | €255,026 | €366,164 | +€111,138 | +43.6% |
| Amounts payable after more than one year | 17 | €121,437 | €111,014 | -€10,423 | -8.6% |
| Financial debts | 170/4 | €121,437 | €111,014 | -€10,423 | -8.6% |
| Amounts payable within one year | 42/48 | €133,589 | €255,150 | +€121,561 | +91.0% |
| Current portion of amounts payable after more than one year | 42 | €9,991 | €10,278 | +€287 | +2.9% |
| Trade debts | 44 | €3,735 | - | -€3,735 | |
| Suppliers | 440/4 | €3,735 | - | -€3,735 | |
| Taxes, remuneration and social security | 45 | €72,718 | €77,014 | +€4,296 | +5.9% |
| Taxes | 450/3 | €72,718 | €72,213 | -€505 | -0.7% |
| Remuneration and social security | 454/9 | - | €4,801 | +€4,801 | |
| Other amounts payable | 47/48 | €47,145 | €167,858 | +€120,713 | +256.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,828 | €12,605 | +€1,777 | +16.4% |
| Other operating charges | 640/8 | €3,627 | €3,450 | -€177 | -4.9% |
| Gross operating margin | 9900 | €181,870 | €297,827 | +€115,957 | +63.8% |
| Operating profit (loss) | 9901 | €167,414 | €281,772 | +€114,357 | +68.3% |
| Financial income | 75/76B | €270 | - | -€270 | |
| Recurring financial income | 75 | €270 | - | -€270 | |
| Financial charges | 65/66B | €2,108 | €2,492 | +€384 | +18.2% |
| Recurring financial charges | 65 | €2,108 | €2,492 | +€384 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €165,577 | €279,280 | +€113,703 | +68.7% |
| Income taxes | 67/77 | €36,420 | €69,717 | +€33,297 | +91.4% |
| Profit (loss) for the period | 9904 | €129,157 | €209,563 | +€80,406 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €129,157 | €209,563 | +€80,406 | +62.3% |
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 30 September 2026 via checked.be.