SH - EVENTS: 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.
SH - EVENTS
Largest movements
- Cash -€10,002
down €10,002 (-20.6%), from €48,541 to €38,539
mainly Other debts (-€21,516) and Investment in fixed assets (net) (-€13,001)
- Receivables within one year +€2,691
up €2,691 (+92.4%), from €2,913 to €5,604
of which Trade receivables: +€2,236
- Tangible fixed assets -€1,879
down €1,879 (-4.2%), from €44,945 to €43,066
of which Furniture and vehicles: -€2,483
- Deferred charges and accrued income -€1,702
no longer reported in 2025 (was €1,702)
- Other debts -€21,516
down €21,516 (-37.6%), from €57,152 to €35,635
- Profit (loss) carried forward +€15,022
up €15,022 (+44.9%), from €33,420 to €48,442
- Tax, wage and social debts -€3,312
no longer reported in 2025 (was €3,312)
- Trade debts -€1,084
down €1,084 (-63.2%), from €1,717 to €632
- Gross operating margin -€18,218
down €18,218 (-34.8%), from €52,358 to €34,140
- Depreciation +€4,611
up €4,611 (+44.9%), from €10,269 to €14,880
- Taxes -€4,601
down €4,601 (-56.0%), from €8,215 to €3,615
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 | €98,100 | €87,210 | -€10,891 | -11.1% |
| Fixed assets | 21/28 | €44,945 | €43,066 | -€1,879 | -4.2% |
| Tangible fixed assets | 22/27 | €44,945 | €43,066 | -€1,879 | -4.2% |
| Plant, machinery and equipment | 23 | €34,628 | €35,232 | +€604 | +1.7% |
| Furniture and vehicles | 24 | €10,317 | €7,835 | -€2,483 | -24.1% |
| Current assets | 29/58 | €53,155 | €44,143 | -€9,012 | -17.0% |
| Amounts receivable within one year | 40/41 | €2,913 | €5,604 | +€2,691 | +92.4% |
| Trade receivables | 40 | €1,225 | €3,461 | +€2,236 | +183% |
| Other amounts receivable | 41 | €1,688 | €2,144 | +€455 | +27.0% |
| Cash at bank and in hand | 54/58 | €48,541 | €38,539 | -€10,002 | -20.6% |
| Deferred charges and accrued income | 490/1 | €1,702 | - | -€1,702 | |
| Total equity and liabilities | 10/49 | €98,100 | €87,210 | -€10,891 | -11.1% |
| Equity | 10/15 | €35,920 | €50,942 | +€15,022 | +41.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,420 | €48,442 | +€15,022 | +44.9% |
| Amounts payable | 17/49 | €62,180 | €36,268 | -€25,913 | -41.7% |
| Amounts payable within one year | 42/48 | €62,180 | €36,268 | -€25,913 | -41.7% |
| Trade debts | 44 | €1,717 | €632 | -€1,084 | -63.2% |
| Suppliers | 440/4 | €1,717 | €632 | -€1,084 | -63.2% |
| Taxes, remuneration and social security | 45 | €3,312 | - | -€3,312 | |
| Taxes | 450/3 | €3,312 | - | -€3,312 | |
| Other amounts payable | 47/48 | €57,152 | €35,635 | -€21,516 | -37.6% |
| Non-recurring operating income | 76A | €3,056 | - | -€3,056 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,269 | €14,880 | +€4,611 | +44.9% |
| Other operating charges | 640/8 | €402 | €581 | +€179 | +44.4% |
| Gross operating margin | 9900 | €52,358 | €34,140 | -€18,218 | -34.8% |
| Operating profit (loss) | 9901 | €41,687 | €18,679 | -€23,008 | -55.2% |
| Financial income | 75/76B | €0 | €12 | +€12 | +115,300% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +115,300% |
| Financial charges | 65/66B | €52 | €54 | +€2 | +4.0% |
| Recurring financial charges | 65 | €52 | €54 | +€2 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €41,635 | €18,637 | -€22,998 | -55.2% |
| Income taxes | 67/77 | €8,215 | €3,615 | -€4,601 | -56.0% |
| Profit (loss) for the period | 9904 | €33,420 | €15,022 | -€18,398 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,420 | €15,022 | -€18,398 | -55.1% |
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 17 October 2026 via checked.be.