ShaCo: 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.
ShaCo
Largest movements
- Receivables within one year -€321,264
down €321,264 (-99.9%), from €321,515 to €250
of which Trade receivables: -€320,145
- Financial fixed assets -€134,782
down €134,782 (-95.5%), from €141,082 to €6,300
- Tangible fixed assets +€122,379
up €122,379 (+2,414%), from €5,069 to €127,449
of which Other tangible fixed assets: +€107,895
- Intangible fixed assets +€16,203
up €16,203, from €0 to €16,203
- Other debts -€301,429
down €301,429 (-88.7%), from €340,000 to €38,571
- Debts after one year +€108,605
new in 2025: €108,605
- Short-term financial debts -€90,000
down €90,000 (-100%), from €90,000 to €0
- Profit (loss) carried forward -€49,234
down €49,234 (-15,687%), from -€314 to -€49,548
- Current portion of long-term debt +€30,202
up €30,202, from €0 to €30,202
- Gross operating margin -€436,753
down €436,753 (-91.7%), from €476,167 to €39,415
- Taxes -€94,024
down €94,024 (-100%), from €94,024 to €0
- Staff costs -€52,577
down €52,577 (-47.8%), from €110,018 to €57,441
- Depreciation +€22,119
up €22,119 (+21,020%), from €105 to €22,224
- Other operating charges -€14,648
down €14,648 (-94.6%), from €15,487 to €839
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 | €468,067 | €160,990 | -€307,077 | -65.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €146,151 | €149,952 | +€3,800 | +2.6% |
| Intangible fixed assets | 21 | €0 | €16,203 | +€16,203 | |
| Tangible fixed assets | 22/27 | €5,069 | €127,449 | +€122,379 | +2,414% |
| Plant, machinery and equipment | 23 | €0 | €6,485 | +€6,485 | |
| Furniture and vehicles | 24 | - | €8,000 | +€8,000 | |
| Other tangible fixed assets | 26 | €5,069 | €112,964 | +€107,895 | +2,128% |
| Financial fixed assets | 28 | €141,082 | €6,300 | -€134,782 | -95.5% |
| Current assets | 29/58 | €321,915 | €11,038 | -€310,877 | -96.6% |
| Stocks and contracts in progress | 3 | €0 | €2,551 | +€2,551 | |
| Stocks | 30/36 | €0 | €2,551 | +€2,551 | |
| Amounts receivable within one year | 40/41 | €321,515 | €250 | -€321,264 | -99.9% |
| Trade receivables | 40 | €320,315 | €171 | -€320,145 | -99.9% |
| Other amounts receivable | 41 | €1,199 | €80 | -€1,120 | -93.4% |
| Cash at bank and in hand | 54/58 | €44 | €4,530 | +€4,486 | +10,304% |
| Deferred charges and accrued income | 490/1 | €357 | €3,707 | +€3,350 | +938% |
| Total equity and liabilities | 10/49 | €468,067 | €160,990 | -€307,077 | -65.6% |
| Equity | 10/15 | €18,286 | -€30,948 | -€49,234 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€314 | -€49,548 | -€49,234 | -15,687% |
| Amounts payable | 17/49 | €449,781 | €191,938 | -€257,843 | -57.3% |
| Amounts payable after more than one year | 17 | - | €108,605 | +€108,605 | |
| Financial debts | 170/4 | - | €108,605 | +€108,605 | |
| Amounts payable within one year | 42/48 | €447,259 | €82,198 | -€365,060 | -81.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €30,202 | +€30,202 | |
| Financial debts | 43 | €90,000 | €0 | -€90,000 | -100% |
| Other loans | 439 | €90,000 | €0 | -€90,000 | -100% |
| Trade debts | 44 | €618 | €5,707 | +€5,089 | +824% |
| Suppliers | 440/4 | €618 | €5,707 | +€5,089 | +824% |
| Advances received on contracts in progress | 46 | €2,662 | €0 | -€2,662 | -100% |
| Taxes, remuneration and social security | 45 | €13,979 | €7,719 | -€6,260 | -44.8% |
| Taxes | 450/3 | €4,024 | €549 | -€3,475 | -86.4% |
| Remuneration and social security | 454/9 | €9,955 | €7,170 | -€2,785 | -28.0% |
| Other amounts payable | 47/48 | €340,000 | €38,571 | -€301,429 | -88.7% |
| Accrued charges and deferred income | 492/3 | €2,522 | €1,135 | -€1,387 | -55.0% |
| Remuneration, social security and pensions | 62 | €110,018 | €57,441 | -€52,577 | -47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105 | €22,224 | +€22,119 | +21,020% |
| Other operating charges | 640/8 | €15,487 | €839 | -€14,648 | -94.6% |
| Gross operating margin | 9900 | €476,167 | €39,415 | -€436,753 | -91.7% |
| Operating profit (loss) | 9901 | €350,557 | -€41,090 | -€391,646 | |
| Financial income | 75/76B | €1,627 | €447 | -€1,180 | -72.5% |
| Recurring financial income | 75 | €1,627 | €447 | -€1,180 | -72.5% |
| Financial charges | 65/66B | €838 | €8,591 | +€7,754 | +926% |
| Recurring financial charges | 65 | €838 | €8,591 | +€7,754 | +926% |
| Profit (loss) for the period before taxes | 9903 | €351,346 | -€49,234 | -€400,580 | |
| Income taxes | 67/77 | €94,024 | €0 | -€94,024 | -100% |
| Profit (loss) for the period | 9904 | €257,323 | -€49,234 | -€306,557 | |
| Profit (loss) for the period to be appropriated | 9905 | €257,323 | -€49,234 | -€306,557 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.