Sh0Shin: 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.
Sh0Shin
Largest movements
- Receivables within one year -€13,736
down €13,736 (-89.4%), from €15,362 to €1,625
of which Trade receivables: -€14,357
- Cash +€8,716
up €8,716 (+6.8%), from €127,640 to €136,357
mainly Net result for the year (+€16,565) and Receivables within one year (+€13,736)
- Tax, wage and social debts -€23,320
down €23,320 (-85.3%), from €27,337 to €4,017
- Profit (loss) carried forward +€16,565
up €16,565 (+14.3%), from €115,535 to €132,101
- Gross operating margin -€62,094
down €62,094 (-73.6%), from €84,329 to €22,234
- Taxes -€12,173
down €12,173 (-73.6%), from €16,536 to €4,363
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 | €148,274 | €142,738 | -€5,536 | -3.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €4,026 | €2,878 | -€1,148 | -28.5% |
| Tangible fixed assets | 22/27 | €4,026 | €2,878 | -€1,148 | -28.5% |
| Plant, machinery and equipment | 23 | €595 | €464 | -€131 | -22.1% |
| Furniture and vehicles | 24 | €3,430 | €2,414 | -€1,017 | -29.6% |
| Current assets | 29/58 | €144,249 | €139,860 | -€4,389 | -3.0% |
| Amounts receivable within one year | 40/41 | €15,362 | €1,625 | -€13,736 | -89.4% |
| Trade receivables | 40 | €15,246 | €889 | -€14,357 | -94.2% |
| Other amounts receivable | 41 | €116 | €736 | +€620 | +536% |
| Cash at bank and in hand | 54/58 | €127,640 | €136,357 | +€8,716 | +6.8% |
| Deferred charges and accrued income | 490/1 | €1,247 | €1,878 | +€631 | +50.6% |
| Total equity and liabilities | 10/49 | €148,274 | €142,738 | -€5,536 | -3.7% |
| Equity | 10/15 | €118,535 | €135,101 | +€16,565 | +14.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,535 | €132,101 | +€16,565 | +14.3% |
| Amounts payable | 17/49 | €29,739 | €7,637 | -€22,102 | -74.3% |
| Amounts payable within one year | 42/48 | €29,739 | €7,637 | -€22,102 | -74.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,814 | €2,789 | +€975 | +53.7% |
| Suppliers | 440/4 | €1,814 | €2,789 | +€975 | +53.7% |
| Taxes, remuneration and social security | 45 | €27,337 | €4,017 | -€23,320 | -85.3% |
| Taxes | 450/3 | €27,337 | €4,017 | -€23,320 | -85.3% |
| Other amounts payable | 47/48 | €588 | €832 | +€244 | +41.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,687 | €1,779 | +€92 | +5.5% |
| Other operating charges | 640/8 | €387 | €563 | +€176 | +45.4% |
| Non-recurring operating charges | 66A | €941 | €0 | -€941 | -100% |
| Gross operating margin | 9900 | €84,329 | €22,234 | -€62,094 | -73.6% |
| Operating profit (loss) | 9901 | €81,314 | €19,892 | -€61,422 | -75.5% |
| Financial income | 75/76B | €697 | €1,155 | +€459 | +65.9% |
| Recurring financial income | 75 | €697 | €1,155 | +€459 | +65.9% |
| Financial charges | 65/66B | €58 | €119 | +€61 | +105% |
| Recurring financial charges | 65 | €58 | €119 | +€61 | +105% |
| Profit (loss) for the period before taxes | 9903 | €81,952 | €20,928 | -€61,024 | -74.5% |
| Income taxes | 67/77 | €16,536 | €4,363 | -€12,173 | -73.6% |
| Profit (loss) for the period | 9904 | €65,416 | €16,565 | -€48,851 | -74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,416 | €16,565 | -€48,851 | -74.7% |
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 21 October 2026 via checked.be.