SH TECH: 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 TECH
Largest movements
- Receivables within one year +€9,127
up €9,127 (+40.5%), from €22,540 to €31,668
of which Other amounts receivable: +€8,361
- Tangible fixed assets +€5,128
up €5,128 (+1,115%), from €460 to €5,588
- Cash +€4,416
up €4,416 (+84.4%), from €5,232 to €9,648
mainly Net result for the year (+€5,965) and Tax, wage and social debts (+€5,494)
- Tax, wage and social debts +€5,494
up €5,494 (+124%), from €4,439 to €9,934
- Reserves +€5,000
up €5,000 (+33.3%), from €15,000 to €20,000
- Debts after one year +€4,477
new in 2025: €4,477
- Current portion of long-term debt +€1,074
new in 2025: €1,074
- Trade debts +€976
up €976 (+533%), from €183 to €1,159
- Gross operating margin -€7,438
down €7,438 (-33.5%), from €22,235 to €14,797
- Taxes +€2,350
up €2,350 (+52.9%), from €4,439 to €6,789
- Depreciation +€795
up €795 (+123%), from €647 to €1,442
- Other operating charges +€680
up €680 (+176%), from €387 to €1,067
- Financial income +€438
up €438 (+85.1%), from €515 to €954
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 | €28,232 | €46,906 | +€18,673 | +66.1% |
| Fixed assets | 21/28 | €460 | €5,588 | +€5,128 | +1,115% |
| Tangible fixed assets | 22/27 | €460 | €5,588 | +€5,128 | +1,115% |
| Furniture and vehicles | 24 | €460 | €5,588 | +€5,128 | +1,115% |
| Current assets | 29/58 | €27,772 | €41,317 | +€13,545 | +48.8% |
| Amounts receivable within one year | 40/41 | €22,540 | €31,668 | +€9,127 | +40.5% |
| Trade receivables | 40 | €11,160 | €11,926 | +€767 | +6.9% |
| Other amounts receivable | 41 | €11,381 | €19,742 | +€8,361 | +73.5% |
| Cash at bank and in hand | 54/58 | €5,232 | €9,648 | +€4,416 | +84.4% |
| Deferred charges and accrued income | 490/1 | - | €1 | +€1 | |
| Total equity and liabilities | 10/49 | €28,232 | €46,906 | +€18,673 | +66.1% |
| Equity | 10/15 | €23,610 | €29,575 | +€5,965 | +25.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €15,000 | €20,000 | +€5,000 | +33.3% |
| Distributable reserves | 133 | €15,000 | €20,000 | +€5,000 | +33.3% |
| Profit (loss) carried forward | 14 | €6,110 | €7,075 | +€965 | +15.8% |
| Amounts payable | 17/49 | €4,622 | €17,331 | +€12,708 | +275% |
| Amounts payable after more than one year | 17 | - | €4,477 | +€4,477 | |
| Financial debts | 170/4 | - | €4,477 | +€4,477 | |
| Amounts payable within one year | 42/48 | €4,622 | €12,166 | +€7,544 | +163% |
| Current portion of amounts payable after more than one year | 42 | - | €1,074 | +€1,074 | |
| Trade debts | 44 | €183 | €1,159 | +€976 | +533% |
| Suppliers | 440/4 | €183 | €1,159 | +€976 | +533% |
| Taxes, remuneration and social security | 45 | €4,439 | €9,934 | +€5,494 | +124% |
| Taxes | 450/3 | €4,439 | €9,934 | +€5,494 | +124% |
| Accrued charges and deferred income | 492/3 | - | €687 | +€687 | |
| Remuneration, social security and pensions | 62 | €96 | - | -€96 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €647 | €1,442 | +€795 | +123% |
| Other operating charges | 640/8 | €387 | €1,067 | +€680 | +176% |
| Gross operating margin | 9900 | €22,235 | €14,797 | -€7,438 | -33.5% |
| Operating profit (loss) | 9901 | €21,105 | €12,288 | -€8,817 | -41.8% |
| Financial income | 75/76B | €515 | €954 | +€438 | +85.1% |
| Recurring financial income | 75 | €515 | €954 | +€438 | +85.1% |
| Financial charges | 65/66B | €205 | €488 | +€283 | +138% |
| Recurring financial charges | 65 | €205 | €488 | +€283 | +138% |
| Profit (loss) for the period before taxes | 9903 | €21,415 | €12,754 | -€8,662 | -40.4% |
| Income taxes | 67/77 | €4,439 | €6,789 | +€2,350 | +52.9% |
| Profit (loss) for the period | 9904 | €16,976 | €5,965 | -€11,011 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,976 | €5,965 | -€11,011 | -64.9% |
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 14 October 2026 via checked.be.