SEASHELLS: 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.
SEASHELLS
Largest movements
- Cash +€191,628
up €191,628 (+90.5%), from €211,634 to €403,263
mainly Net result for the year (+€115,270) and Receivables within one year (+€56,297)
- Receivables within one year -€56,297
down €56,297 (-11.3%), from €500,365 to €444,067
of which Trade receivables: -€56,413
- Stocks and contracts -€25,007
down €25,007 (-5.5%), from €458,134 to €433,126
- Tangible fixed assets -€20,559
down €20,559 (-28.4%), from €72,438 to €51,879
of which Furniture and vehicles: -€16,748
- Reserves +€103,270
up €103,270 (+11.0%), from €935,190 to €1.0m
- Tax, wage and social debts -€22,321
down €22,321 (-39.8%), from €56,095 to €33,774
of which Taxes: -€22,628
- Gross operating margin -€66,766
down €66,766 (-16.6%), from €402,135 to €335,369
- Taxes -€23,045
down €23,045 (-31.7%), from €72,655 to €49,609
- Financial charges +€21,040
up €21,040 (+32.5%), from €64,815 to €85,856
- Financial income +€6,133
up €6,133 (+53.0%), from €11,581 to €17,714
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 | €1,813,199 | €1,899,023 | +€85,825 | +4.7% |
| Fixed assets | 21/28 | €72,438 | €51,879 | -€20,559 | -28.4% |
| Tangible fixed assets | 22/27 | €72,438 | €51,879 | -€20,559 | -28.4% |
| Plant, machinery and equipment | 23 | €1,821 | - | -€1,821 | |
| Furniture and vehicles | 24 | €57,721 | €40,974 | -€16,748 | -29.0% |
| Other tangible fixed assets | 26 | €12,895 | €10,905 | -€1,990 | -15.4% |
| Current assets | 29/58 | €1,740,761 | €1,847,144 | +€106,384 | +6.1% |
| Stocks and contracts in progress | 3 | €458,134 | €433,126 | -€25,007 | -5.5% |
| Stocks | 30/36 | €458,134 | €433,126 | -€25,007 | -5.5% |
| Amounts receivable within one year | 40/41 | €500,365 | €444,067 | -€56,297 | -11.3% |
| Trade receivables | 40 | €500,365 | €443,952 | -€56,413 | -11.3% |
| Other amounts receivable | 41 | - | €115 | +€115 | |
| Current investments | 50/53 | €540,662 | €537,127 | -€3,535 | -0.7% |
| Cash at bank and in hand | 54/58 | €211,634 | €403,263 | +€191,628 | +90.5% |
| Deferred charges and accrued income | 490/1 | €29,966 | €29,561 | -€405 | -1.4% |
| Total equity and liabilities | 10/49 | €1,813,199 | €1,899,023 | +€85,825 | +4.7% |
| Equity | 10/15 | €1,035,190 | €1,138,461 | +€103,270 | +10.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €935,190 | €1,038,461 | +€103,270 | +11.0% |
| Distributable reserves | 133 | €935,190 | €1,038,461 | +€103,270 | +11.0% |
| Amounts payable | 17/49 | €778,008 | €760,562 | -€17,446 | -2.2% |
| Amounts payable within one year | 42/48 | €732,614 | €710,386 | -€22,228 | -3.0% |
| Financial debts | 43 | - | €199 | +€199 | |
| Credit institutions | 430/8 | - | €199 | +€199 | |
| Trade debts | 44 | €4,692 | €3,418 | -€1,274 | -27.2% |
| Suppliers | 440/4 | €4,692 | €3,418 | -€1,274 | -27.2% |
| Taxes, remuneration and social security | 45 | €56,095 | €33,774 | -€22,321 | -39.8% |
| Taxes | 450/3 | €49,105 | €26,477 | -€22,628 | -46.1% |
| Remuneration and social security | 454/9 | €6,990 | €7,297 | +€307 | +4.4% |
| Other amounts payable | 47/48 | €671,828 | €672,996 | +€1,168 | +0.2% |
| Accrued charges and deferred income | 492/3 | €45,394 | €50,176 | +€4,782 | +10.5% |
| Remuneration, social security and pensions | 62 | €78,447 | €80,306 | +€1,859 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,553 | €20,559 | -€994 | -4.6% |
| Other operating charges | 640/8 | €1,447 | €1,482 | +€36 | +2.5% |
| Gross operating margin | 9900 | €402,135 | €335,369 | -€66,766 | -16.6% |
| Operating profit (loss) | 9901 | €300,689 | €233,022 | -€67,667 | -22.5% |
| Financial income | 75/76B | €11,581 | €17,714 | +€6,133 | +53.0% |
| Recurring financial income | 75 | €11,581 | €17,714 | +€6,133 | +53.0% |
| Financial charges | 65/66B | €64,815 | €85,856 | +€21,040 | +32.5% |
| Recurring financial charges | 65 | €64,815 | €85,856 | +€21,040 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | €247,454 | €164,880 | -€82,574 | -33.4% |
| Income taxes | 67/77 | €72,655 | €49,609 | -€23,045 | -31.7% |
| Profit (loss) for the period | 9904 | €174,799 | €115,270 | -€59,529 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €174,799 | €115,270 | -€59,529 | -34.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.