SCHUTTERS: 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.
SCHUTTERS
Largest movements
- Receivables within one year -€4,509
down €4,509 (-48.1%), from €9,371 to €4,861
of which Trade receivables: -€6,212
- Tangible fixed assets -€2,380
down €2,380 (-15.1%), from €15,719 to €13,340
of which Furniture and vehicles: -€3,860
- Deferred charges and accrued income +€973
up €973 (+120.2%), from €810 to €1,782
- Receivables after one year +€569
up €569 (+11.4%), from €4,997 to €5,566
- Tax, wage and social debts -€3,221
down €3,221 (-41.9%), from €7,681 to €4,460
of which Remuneration and social security: -€1,921
- Trade debts -€3,036
down €3,036 (-20.1%), from €15,089 to €12,053
- Staff costs -€38,166
down €38,166 (-100.0%), from €38,166 to €0
- Gross operating margin -€37,344
down €37,344 (-69.1%), from €54,033 to €16,689
- Depreciation +€963
up €963 (+29.6%), from €3,257 to €4,220
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 | €55,436 | €49,596 | -€5,840 | -10.5% |
| Fixed assets | 21/28 | €15,719 | €13,340 | -€2,380 | -15.1% |
| Tangible fixed assets | 22/27 | €15,719 | €13,340 | -€2,380 | -15.1% |
| Plant, machinery and equipment | 23 | €1,252 | €2,733 | +€1,480 | +118.2% |
| Furniture and vehicles | 24 | €14,467 | €10,607 | -€3,860 | -26.7% |
| Current assets | 29/58 | €39,717 | €36,256 | -€3,461 | -8.7% |
| Amounts receivable after more than one year | 29 | €4,997 | €5,566 | +€569 | +11.4% |
| Other amounts receivable | 291 | €4,997 | €5,566 | +€569 | +11.4% |
| Stocks and contracts in progress | 3 | €19,290 | €19,090 | -€200 | -1.0% |
| Stocks | 30/36 | €6,300 | €6,450 | +€150 | +2.4% |
| Contracts in progress | 37 | €12,990 | €12,640 | -€350 | -2.7% |
| Amounts receivable within one year | 40/41 | €9,371 | €4,861 | -€4,509 | -48.1% |
| Trade receivables | 40 | €6,422 | €209 | -€6,212 | -96.7% |
| Other amounts receivable | 41 | €2,949 | €4,652 | +€1,703 | +57.7% |
| Cash at bank and in hand | 54/58 | €5,250 | €4,956 | -€293 | -5.6% |
| Deferred charges and accrued income | 490/1 | €810 | €1,782 | +€973 | +120.2% |
| Total equity and liabilities | 10/49 | €55,436 | €49,596 | -€5,840 | -10.5% |
| Equity | 10/15 | €2,666 | €3,082 | +€416 | +15.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €7,278 | €7,278 | = | 0.0% |
| Non-distributable reserves | 130/1 | €799 | €0 | -€799 | -100.0% |
| Reserves not available under the articles | 1311 | €799 | €0 | -€799 | -100.0% |
| Distributable reserves | 133 | €6,479 | €7,278 | +€799 | +12.3% |
| Profit (loss) carried forward | 14 | -€10,812 | -€10,396 | +€416 | +3.9% |
| Amounts payable | 17/49 | €52,770 | €46,514 | -€6,257 | -11.9% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 170/4 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €22,770 | €16,514 | -€6,257 | -27.5% |
| Trade debts | 44 | €15,089 | €12,053 | -€3,036 | -20.1% |
| Suppliers | 440/4 | €15,089 | €12,053 | -€3,036 | -20.1% |
| Taxes, remuneration and social security | 45 | €7,681 | €4,460 | -€3,221 | -41.9% |
| Taxes | 450/3 | €4,381 | €3,081 | -€1,300 | -29.7% |
| Remuneration and social security | 454/9 | €3,300 | €1,379 | -€1,921 | -58.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €38,166 | €0 | -€38,166 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,257 | €4,220 | +€963 | +29.6% |
| Other operating charges | 640/8 | €1,711 | €1,695 | -€16 | -0.9% |
| Gross operating margin | 9900 | €54,033 | €16,689 | -€37,344 | -69.1% |
| Operating profit (loss) | 9901 | €10,899 | €10,773 | -€126 | -1.2% |
| Financial income | 75/76B | €117 | €103 | -€14 | -12.2% |
| Recurring financial income | 75 | €117 | €103 | -€14 | -12.2% |
| Financial charges | 65/66B | €8,800 | €8,819 | +€19 | +0.2% |
| Recurring financial charges | 65 | €8,800 | €8,819 | +€19 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €2,216 | €2,057 | -€159 | -7.2% |
| Income taxes | 67/77 | €1,440 | €1,641 | +€201 | +14.0% |
| Profit (loss) for the period | 9904 | €776 | €416 | -€360 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €776 | €416 | -€360 | -46.4% |
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 29 September 2026 via checked.be.