SH GROUP: 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.
SH GROUP
Largest movements
- Tangible fixed assets +€169,633
new in 2024: €169,633
- Receivables within one year +€17,857
up €17,857 (+3618.8%), from €493 to €18,350
of which Other amounts receivable: +€14,437
- Cash -€7,499
down €7,499 (-96.0%), from €7,814 to €315
mainly Investment in fixed assets (net) (-€178,171) and Net result for the year (-€24,895)
- Stocks and contracts -€2,258
down €2,258 (-53.3%), from €4,239 to €1,981
- Debts after one year +€120,142
up €120,142 (+987.4%), from €12,168 to €132,309
- Trade debts +€40,737
new in 2024: €40,737
- Other debts +€39,629
new in 2024: €39,629
- Profit (loss) carried forward -€24,895
down €24,895 (-260.6%), from -€9,552 to -€34,446
- Current portion of long-term debt +€4,270
up €4,270 (+89.3%), from €4,780 to €9,051
- Gross operating margin -€11,387
down €11,387 (-280.6%), from -€4,058 to -€15,445
- Depreciation +€7,517
up €7,517 (+736.6%), from €1,020 to €8,538
- Financial charges -€184
down €184 (-17.1%), from €1,077 to €893
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,547 | €190,279 | +€177,733 | +1416.6% |
| Fixed assets | 21/28 | - | €169,633 | +€169,633 | |
| Tangible fixed assets | 22/27 | - | €169,633 | +€169,633 | |
| Land and buildings | 22 | - | €169,633 | +€169,633 | |
| Current assets | 29/58 | €12,547 | €20,646 | +€8,099 | +64.6% |
| Stocks and contracts in progress | 3 | €4,239 | €1,981 | -€2,258 | -53.3% |
| Stocks | 30/36 | €4,239 | €1,981 | -€2,258 | -53.3% |
| Amounts receivable within one year | 40/41 | €493 | €18,350 | +€17,857 | +3618.8% |
| Trade receivables | 40 | - | €3,420 | +€3,420 | |
| Other amounts receivable | 41 | €493 | €14,930 | +€14,437 | +2925.7% |
| Cash at bank and in hand | 54/58 | €7,814 | €315 | -€7,499 | -96.0% |
| Total equity and liabilities | 10/49 | €12,547 | €190,279 | +€177,733 | +1416.6% |
| Equity | 10/15 | -€6,552 | -€31,446 | -€24,895 | -380.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,552 | -€34,446 | -€24,895 | -260.6% |
| Amounts payable | 17/49 | €19,098 | €221,726 | +€202,627 | +1061.0% |
| Amounts payable after more than one year | 17 | €12,168 | €132,309 | +€120,142 | +987.4% |
| Financial debts | 170/4 | €12,168 | €132,309 | +€120,142 | +987.4% |
| Amounts payable within one year | 42/48 | €6,930 | €89,416 | +€82,486 | +1190.2% |
| Current portion of amounts payable after more than one year | 42 | €4,780 | €9,051 | +€4,270 | +89.3% |
| Trade debts | 44 | - | €40,737 | +€40,737 | |
| Suppliers | 440/4 | - | €40,737 | +€40,737 | |
| Taxes, remuneration and social security | 45 | €2,150 | - | -€2,150 | |
| Taxes | 450/3 | €2,150 | - | -€2,150 | |
| Other amounts payable | 47/48 | - | €39,629 | +€39,629 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,020 | €8,538 | +€7,517 | +736.6% |
| Other operating charges | 640/8 | - | €19 | +€19 | |
| Gross operating margin | 9900 | -€4,058 | -€15,445 | -€11,387 | -280.6% |
| Operating profit (loss) | 9901 | -€5,078 | -€24,002 | -€18,923 | -372.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,077 | €893 | -€184 | -17.1% |
| Recurring financial charges | 65 | €1,077 | €893 | -€184 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,155 | -€24,895 | -€18,740 | -304.5% |
| Profit (loss) for the period | 9904 | -€6,155 | -€24,895 | -€18,740 | -304.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,155 | -€24,895 | -€18,740 | -304.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.