SELL A SHOE: 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.
SELL A SHOE
Largest movements
- Current investments -€142,066
down €142,066 (-42.4%), from €335,337 to €193,271
- Receivables within one year -€68,788
down €68,788 (-44.8%), from €153,459 to €84,671
of which Trade receivables: -€55,570
- Cash -€30,408
down €30,408 (-17.0%), from €179,373 to €148,966
mainly Other debts (-€266,501) and Tax, wage and social debts (-€52,847)
- Other debts -€266,501
down €266,501 (-100%), from €266,501 to €0
- Reserves +€81,713
up €81,713 (+26.2%), from €312,338 to €394,051
- Tax, wage and social debts -€52,847
down €52,847 (-90.6%), from €58,310 to €5,463
of which Taxes: -€48,217
- Financial income -€110,141
down €110,141 (-94.6%), from €116,438 to €6,296
- Gross operating margin -€54,946
down €54,946 (-27.7%), from €198,274 to €143,328
- Taxes -€49,372
down €49,372 (-58.7%), from €84,086 to €34,714
- Staff costs -€9,134
down €9,134 (-36.8%), from €24,831 to €15,696
- Depreciation -€8,889
down €8,889 (-39.7%), from €22,368 to €13,479
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 | €689,068 | €450,225 | -€238,842 | -34.7% |
| Fixed assets | 21/28 | €20,249 | €21,715 | +€1,465 | +7.2% |
| Tangible fixed assets | 22/27 | €20,099 | €21,565 | +€1,465 | +7.3% |
| Land and buildings | 22 | €1,234 | €11,327 | +€10,093 | +818% |
| Plant, machinery and equipment | 23 | €18,866 | €9,303 | -€9,562 | -50.7% |
| Furniture and vehicles | 24 | - | €934 | +€934 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €668,818 | €428,510 | -€240,308 | -35.9% |
| Amounts receivable within one year | 40/41 | €153,459 | €84,671 | -€68,788 | -44.8% |
| Trade receivables | 40 | €116,050 | €60,480 | -€55,570 | -47.9% |
| Other amounts receivable | 41 | €37,408 | €24,191 | -€13,218 | -35.3% |
| Current investments | 50/53 | €335,337 | €193,271 | -€142,066 | -42.4% |
| Cash at bank and in hand | 54/58 | €179,373 | €148,966 | -€30,408 | -17.0% |
| Deferred charges and accrued income | 490/1 | €649 | €1,602 | +€953 | +147% |
| Total equity and liabilities | 10/49 | €689,068 | €450,225 | -€238,842 | -34.7% |
| Equity | 10/15 | €330,938 | €412,651 | +€81,713 | +24.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €312,338 | €394,051 | +€81,713 | +26.2% |
| Distributable reserves | 133 | €312,338 | €394,051 | +€81,713 | +26.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €358,129 | €37,574 | -€320,555 | -89.5% |
| Amounts payable within one year | 42/48 | €358,129 | €36,183 | -€321,946 | -89.9% |
| Trade debts | 44 | €33,318 | €30,720 | -€2,599 | -7.8% |
| Suppliers | 440/4 | €33,318 | €30,720 | -€2,599 | -7.8% |
| Taxes, remuneration and social security | 45 | €58,310 | €5,463 | -€52,847 | -90.6% |
| Taxes | 450/3 | €53,681 | €5,463 | -€48,217 | -89.8% |
| Remuneration and social security | 454/9 | €4,629 | €0 | -€4,629 | -100% |
| Other amounts payable | 47/48 | €266,501 | €0 | -€266,501 | -100% |
| Accrued charges and deferred income | 492/3 | - | €1,391 | +€1,391 | |
| Remuneration, social security and pensions | 62 | €24,831 | €15,696 | -€9,134 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,368 | €13,479 | -€8,889 | -39.7% |
| Other operating charges | 640/8 | €2,191 | €1,977 | -€214 | -9.8% |
| Gross operating margin | 9900 | €198,274 | €143,328 | -€54,946 | -27.7% |
| Operating profit (loss) | 9901 | €148,884 | €112,175 | -€36,709 | -24.7% |
| Financial income | 75/76B | €116,438 | €6,296 | -€110,141 | -94.6% |
| Recurring financial income | 75 | €116,438 | €6,296 | -€110,141 | -94.6% |
| Financial charges | 65/66B | €3,725 | €2,044 | -€1,681 | -45.1% |
| Recurring financial charges | 65 | €3,725 | €2,044 | -€1,681 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €261,596 | €116,427 | -€145,169 | -55.5% |
| Income taxes | 67/77 | €84,086 | €34,714 | -€49,372 | -58.7% |
| Profit (loss) for the period | 9904 | €177,510 | €81,713 | -€95,797 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €177,510 | €81,713 | -€95,797 | -54.0% |
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 20 October 2026 via checked.be.