SHAHEDA ISHAQUE: 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.
SHAHEDA ISHAQUE
Largest movements
- Cash +€41,748
up €41,748 (+590%), from €7,072 to €48,820
mainly Net result for the year (+€45,971) and Tax, wage and social debts (+€5,487)
- Receivables within one year +€10,024
up €10,024 (+31.7%), from €31,641 to €41,666
of which Other amounts receivable: +€11,385
- Tangible fixed assets +€3,523
up €3,523 (+178%), from €1,979 to €5,502
of which Plant, machinery and equipment: +€3,783
- Reserves +€45,971
up €45,971 (+151%), from €30,448 to €76,418
- Tax, wage and social debts +€5,487
up €5,487 (+384%), from €1,430 to €6,917
- Trade debts +€3,955
up €3,955 (+651%), from €608 to €4,563
- Gross operating margin +€57,094
up €57,094 (+635%), from €8,995 to €66,090
- Taxes +€15,313
up €15,313 (+519%), from €2,952 to €18,266
- Depreciation +€749
up €749 (+601%), from €125 to €873
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 | €41,011 | €96,429 | +€55,418 | +135% |
| Fixed assets | 21/28 | €1,979 | €5,502 | +€3,523 | +178% |
| Tangible fixed assets | 22/27 | €1,979 | €5,502 | +€3,523 | +178% |
| Plant, machinery and equipment | 23 | €707 | €4,491 | +€3,783 | +535% |
| Other tangible fixed assets | 26 | €1,272 | €1,012 | -€260 | -20.4% |
| Current assets | 29/58 | €39,032 | €90,927 | +€51,895 | +133% |
| Amounts receivable within one year | 40/41 | €31,641 | €41,666 | +€10,024 | +31.7% |
| Trade receivables | 40 | €1,360 | €0 | -€1,360 | -100% |
| Other amounts receivable | 41 | €30,281 | €41,666 | +€11,385 | +37.6% |
| Cash at bank and in hand | 54/58 | €7,072 | €48,820 | +€41,748 | +590% |
| Deferred charges and accrued income | 490/1 | €319 | €441 | +€123 | +38.4% |
| Total equity and liabilities | 10/49 | €41,011 | €96,429 | +€55,418 | +135% |
| Equity | 10/15 | €38,973 | €84,944 | +€45,971 | +118% |
| Reserves | 13 | €30,448 | €76,418 | +€45,971 | +151% |
| Distributable reserves | 133 | €30,448 | €76,418 | +€45,971 | +151% |
| Profit (loss) carried forward | 14 | €8,525 | €8,525 | = | 0.0% |
| Amounts payable | 17/49 | €2,037 | €11,485 | +€9,448 | +464% |
| Amounts payable within one year | 42/48 | €2,037 | €11,485 | +€9,448 | +464% |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €608 | €4,563 | +€3,955 | +651% |
| Suppliers | 440/4 | €608 | €4,563 | +€3,955 | +651% |
| Taxes, remuneration and social security | 45 | €1,430 | €6,917 | +€5,487 | +384% |
| Taxes | 450/3 | €1,430 | €6,917 | +€5,487 | +384% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125 | €873 | +€749 | +601% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,241 | €939 | -€302 | -24.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €8,995 | €66,090 | +€57,094 | +635% |
| Operating profit (loss) | 9901 | €7,629 | €64,278 | +€56,648 | +742% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €47 | €41 | -€5 | -11.2% |
| Recurring financial charges | 65 | €47 | €41 | -€5 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €7,583 | €64,236 | +€56,653 | +747% |
| Income taxes | 67/77 | €2,952 | €18,266 | +€15,313 | +519% |
| Profit (loss) for the period | 9904 | €4,631 | €45,971 | +€41,340 | +893% |
| Profit (loss) for the period to be appropriated | 9905 | €4,631 | €45,971 | +€41,340 | +893% |
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 29 October 2026 via checked.be.