SHAGGIE: 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.
What changed
SHAGGIE
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€192,551
2024 · €198,590-€6,039
Equity
€10.9m
2024 · €10.7m+€192,777
Cash
€24,702
2024 · €67,249-€42,547
Balance sheet total
€14.0m
2024 · €13.4m+€593,714
Largest movements
Assets
- Tangible fixed assets +€528,490
up €528,490 (+27.8%), from €1.9m to €2.4m
of which Land and buildings: +€544,135
Equity and liabilities
- Trade debts +€727,275
up €727,275 (+29,173%), from €2,493 to €729,768
- Debts after one year -€247,088
down €247,088 (-20.5%), from €1.2m to €960,821
- Profit (loss) carried forward +€196,017
up €196,017 (+5.8%), from €3.4m to €3.6m
Income statement
- Depreciation +€50,664
up €50,664 (+48.8%), from €103,830 to €154,494
- Financial charges -€39,336
down €39,336 (-47.9%), from €82,190 to €42,854
- Turnover +€38,287
up €38,287 (+6.2%), from €620,631 to €658,918
- Other operating charges +€25,304
up €25,304 (+93.2%), from €27,150 to €52,454
- Taxes -€16,735
down €16,735 (-19.1%), from €87,434 to €70,699
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.
Result 2024
€198,590
Turnover
+€38,287
Other operating income
-€15,998
Services and other goods
-€5,445
Staff costs
+€16,409
Depreciation
-€50,664
Other operating charges
-€25,304
Other operating items
-€18,182
Financial income
-€132
Financial charges
+€39,336
Taxes
+€16,735
Deferred taxes and other
-€1,081
Result 2025
€192,551
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€884,354
Investment
-€682,984
Financing
-€243,917
Cash 2024
€67,249
From operations (derived)
+€884,354
Net result for the year
+€192,551
Depreciation
+€154,494
Receivables within one year
-€113,082
Deferred charges and accrued income
+€5,311
Provisions
-€1,080
Trade debts
+€727,275
Tax, wage and social debts
-€2,563
Other debts
-€56,158
Accrued charges and deferred income
-€22,394
Investment (derived)
-€682,984
Investment in fixed assets (net)
-€682,984
Financing
-€243,917
Debts after one year
-€247,088
Current portion of long-term debt
+€2,945
Contributions, distributions and other
+€226
Cash 2025
€24,702
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,411,503 | €14,005,217 | +€593,714 | +4.4% |
| Fixed assets | 21/28 | €13,021,317 | €13,549,807 | +€528,490 | +4.1% |
| Tangible fixed assets | 22/27 | €1,900,188 | €2,428,678 | +€528,490 | +27.8% |
| Land and buildings | 22 | €1,630,707 | €2,174,842 | +€544,135 | +33.4% |
| Furniture and vehicles | 24 | €168,578 | €168,341 | -€237 | -0.1% |
| Other tangible fixed assets | 26 | €100,903 | €85,495 | -€15,408 | -15.3% |
| Financial fixed assets | 28 | €11,121,129 | €11,121,129 | = | 0.0% |
| Affiliated companies | 280/1 | €11,120,879 | €11,120,879 | = | 0.0% |
| Participating interests | 280 | €11,120,879 | €11,120,879 | = | 0.0% |
| Other financial fixed assets | 284/8 | €250 | €250 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €390,186 | €455,410 | +€65,224 | +16.7% |
| Amounts receivable within one year | 40/41 | €314,626 | €427,708 | +€113,082 | +35.9% |
| Trade receivables | 40 | €233,175 | €336,896 | +€103,721 | +44.5% |
| Other amounts receivable | 41 | €81,451 | €90,812 | +€9,361 | +11.5% |
| Cash at bank and in hand | 54/58 | €67,249 | €24,702 | -€42,547 | -63.3% |
| Deferred charges and accrued income | 490/1 | €8,311 | €3,000 | -€5,311 | -63.9% |
| Total equity and liabilities | 10/49 | €13,411,503 | €14,005,217 | +€593,714 | +4.4% |
| Equity | 10/15 | €10,746,816 | €10,939,593 | +€192,777 | +1.8% |
| Contributions | 10/11 | €6,500,250 | €6,500,250 | = | 0.0% |
| Reserves | 13 | €850,796 | €847,556 | -€3,240 | -0.4% |
| Non-distributable reserves | 130/1 | €650,025 | €650,025 | = | 0.0% |
| Reserves not available under the articles | 1311 | €650,025 | €650,025 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,771 | €47,531 | -€3,240 | -6.4% |
| Distributable reserves | 133 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,395,770 | €3,591,787 | +€196,017 | +5.8% |
| Provisions and deferred taxes | 16 | €16,923 | €15,843 | -€1,080 | -6.4% |
| Deferred taxes | 168 | €16,923 | €15,843 | -€1,080 | -6.4% |
| Amounts payable | 17/49 | €2,647,764 | €3,049,781 | +€402,017 | +15.2% |
| Amounts payable after more than one year | 17 | €1,207,909 | €960,821 | -€247,088 | -20.5% |
| Financial debts | 170/4 | €1,207,909 | €960,821 | -€247,088 | -20.5% |
| Credit institutions | 173 | €1,207,909 | €960,821 | -€247,088 | -20.5% |
| Amounts payable within one year | 42/48 | €1,417,461 | €2,088,960 | +€671,499 | +47.4% |
| Current portion of amounts payable after more than one year | 42 | €317,372 | €320,317 | +€2,945 | +0.9% |
| Trade debts | 44 | €2,493 | €729,768 | +€727,275 | +29,173% |
| Suppliers | 440/4 | €2,493 | €729,768 | +€727,275 | +29,173% |
| Taxes, remuneration and social security | 45 | €16,125 | €13,562 | -€2,563 | -15.9% |
| Taxes | 450/3 | €16,125 | €13,562 | -€2,563 | -15.9% |
| Other amounts payable | 47/48 | €1,081,471 | €1,025,313 | -€56,158 | -5.2% |
| Accrued charges and deferred income | 492/3 | €22,394 | - | -€22,394 | |
| Operating income | 70/76A | €654,902 | €659,009 | +€4,107 | +0.6% |
| Turnover | 70 | €620,631 | €658,918 | +€38,287 | +6.2% |
| Other operating income | 74 | €16,089 | €91 | -€15,998 | -99.4% |
| Non-recurring operating income | 76A | €18,182 | - | -€18,182 | |
| Operating charges | 60/66A | €289,065 | €354,069 | +€65,004 | +22.5% |
| Services and other goods | 61 | €141,676 | €147,121 | +€5,445 | +3.8% |
| Remuneration, social security and pensions | 62 | €16,409 | - | -€16,409 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,830 | €154,494 | +€50,664 | +48.8% |
| Other operating charges | 640/8 | €27,150 | €52,454 | +€25,304 | +93.2% |
| Operating profit (loss) | 9901 | €365,837 | €304,940 | -€60,897 | -16.6% |
| Financial income | 75/76B | €217 | €85 | -€132 | -60.8% |
| Recurring financial income | 75 | €217 | €85 | -€132 | -60.8% |
| Income from current assets | 751 | €217 | €85 | -€132 | -60.8% |
| Other financial income | 752/9 | - | €0 | = | |
| Financial charges | 65/66B | €82,190 | €42,854 | -€39,336 | -47.9% |
| Recurring financial charges | 65 | €82,190 | €42,854 | -€39,336 | -47.9% |
| Debt charges | 650 | €66,767 | €39,353 | -€27,414 | -41.1% |
| Other financial charges | 652/9 | €15,423 | €3,501 | -€11,922 | -77.3% |
| Profit (loss) for the period before taxes | 9903 | €283,864 | €262,171 | -€21,693 | -7.6% |
| Transfer from deferred taxes | 780 | €2,160 | €1,079 | -€1,081 | -50.0% |
| Income taxes | 67/77 | €87,434 | €70,699 | -€16,735 | -19.1% |
| Taxes | 670/3 | €87,434 | €70,699 | -€16,735 | -19.1% |
| Profit (loss) for the period | 9904 | €198,590 | €192,551 | -€6,039 | -3.0% |
| Transfer from tax-exempt reserves | 789 | €6,478 | €3,240 | -€3,238 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €205,068 | €195,791 | -€9,277 | -4.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.