SHABAD: 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.
SHABAD
Largest movements
- Stocks and contracts +€18,764
up €18,764 (+230%), from €8,175 to €26,938
- Receivables within one year -€13,451
down €13,451 (-97.5%), from €13,801 to €349
of which Trade receivables: -€13,801
- Cash -€8,464
down €8,464 (-43.2%), from €19,608 to €11,144
mainly Stocks and contracts (-€18,764) and Net result for the year (-€4,498)
- Tangible fixed assets -€4,167
down €4,167 (-100%), from €4,167 to €0
- Reserves -€4,498
down €4,498 (-16.2%), from €27,740 to €23,242
- Tax, wage and social debts -€2,118
down €2,118 (-100%), from €2,118 to €0
- Accrued charges and deferred income -€806
down €806 (-100%), from €806 to €0
- Gross operating margin -€15,361
down €15,361 (-85.5%), from €17,976 to €2,615
- Other operating charges -€2,071
down €2,071 (-62.0%), from €3,342 to €1,271
- Taxes -€1,993
down €1,993 (-100%), from €1,993 to €0
- Depreciation -€833
down €833 (-16.7%), from €5,000 to €4,167
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 | €49,350 | €42,181 | -€7,169 | -14.5% |
| Fixed assets | 21/28 | €7,767 | €3,749 | -€4,018 | -51.7% |
| Tangible fixed assets | 22/27 | €4,167 | €0 | -€4,167 | -100% |
| Furniture and vehicles | 24 | €4,167 | €0 | -€4,167 | -100% |
| Financial fixed assets | 28 | €3,600 | €3,749 | +€149 | +4.1% |
| Current assets | 29/58 | €41,584 | €38,432 | -€3,152 | -7.6% |
| Stocks and contracts in progress | 3 | €8,175 | €26,938 | +€18,764 | +230% |
| Stocks | 30/36 | €8,175 | €26,938 | +€18,764 | +230% |
| Amounts receivable within one year | 40/41 | €13,801 | €349 | -€13,451 | -97.5% |
| Trade receivables | 40 | €13,801 | €0 | -€13,801 | -100% |
| Other amounts receivable | 41 | - | €349 | +€349 | |
| Cash at bank and in hand | 54/58 | €19,608 | €11,144 | -€8,464 | -43.2% |
| Total equity and liabilities | 10/49 | €49,350 | €42,181 | -€7,169 | -14.5% |
| Equity | 10/15 | €46,340 | €41,842 | -€4,498 | -9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,740 | €23,242 | -€4,498 | -16.2% |
| Distributable reserves | 133 | €27,740 | €23,242 | -€4,498 | -16.2% |
| Amounts payable | 17/49 | €3,010 | €339 | -€2,671 | -88.8% |
| Amounts payable within one year | 42/48 | €2,204 | €339 | -€1,866 | -84.6% |
| Trade debts | 44 | €86 | €339 | +€253 | +294% |
| Suppliers | 440/4 | €86 | €339 | +€253 | +294% |
| Taxes, remuneration and social security | 45 | €2,118 | €0 | -€2,118 | -100% |
| Taxes | 450/3 | €2,118 | €0 | -€2,118 | -100% |
| Accrued charges and deferred income | 492/3 | €806 | €0 | -€806 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,000 | €4,167 | -€833 | -16.7% |
| Other operating charges | 640/8 | €3,342 | €1,271 | -€2,071 | -62.0% |
| Gross operating margin | 9900 | €17,976 | €2,615 | -€15,361 | -85.5% |
| Operating profit (loss) | 9901 | €9,634 | -€2,823 | -€12,457 | |
| Financial income | 75/76B | €0 | €16 | +€16 | +52,400% |
| Recurring financial income | 75 | €0 | €16 | +€16 | +52,400% |
| Financial charges | 65/66B | €1,828 | €1,691 | -€137 | -7.5% |
| Recurring financial charges | 65 | €1,828 | €1,691 | -€137 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €7,806 | -€4,498 | -€12,304 | |
| Income taxes | 67/77 | €1,993 | €0 | -€1,993 | -100% |
| Profit (loss) for the period | 9904 | €5,813 | -€4,498 | -€10,311 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,813 | -€4,498 | -€10,311 |
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 26 October 2026 via checked.be.