SHAHIBED: 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.
SHAHIBED
Largest movements
- Receivables within one year -€21,333
down €21,333 (-77.5%), from €27,514 to €6,181
of which Trade receivables: -€21,367
- Cash +€9,710
up €9,710 (+99.1%), from €9,798 to €19,509
mainly Receivables within one year (+€21,333) and Net result for the year (+€1,193)
- Stocks and contracts +€9,045
up €9,045 (+484%), from €1,868 to €10,913
- Trade debts -€2,579
down €2,579 (-89.2%), from €2,890 to €311
- Profit (loss) carried forward +€1,193
up €1,193 (+6.7%), from €17,746 to €18,938
- Tax, wage and social debts -€845
no longer reported in 2025 (was €845)
- Staff costs +€6,718
up €6,718 (+55.5%), from €12,098 to €18,816
- Gross operating margin -€2,508
down €2,508 (-10.5%), from €23,783 to €21,275
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 | €40,081 | €37,849 | -€2,231 | -5.6% |
| Fixed assets | 21/28 | €900 | €1,246 | +€346 | +38.5% |
| Tangible fixed assets | 22/27 | €900 | €1,246 | +€346 | +38.5% |
| Furniture and vehicles | 24 | €900 | €1,246 | +€346 | +38.5% |
| Current assets | 29/58 | €39,181 | €36,603 | -€2,578 | -6.6% |
| Stocks and contracts in progress | 3 | €1,868 | €10,913 | +€9,045 | +484% |
| Stocks | 30/36 | €1,868 | €10,913 | +€9,045 | +484% |
| Amounts receivable within one year | 40/41 | €27,514 | €6,181 | -€21,333 | -77.5% |
| Trade receivables | 40 | €21,367 | - | -€21,367 | |
| Other amounts receivable | 41 | €6,147 | €6,181 | +€34 | +0.6% |
| Cash at bank and in hand | 54/58 | €9,798 | €19,509 | +€9,710 | +99.1% |
| Total equity and liabilities | 10/49 | €40,081 | €37,849 | -€2,231 | -5.6% |
| Equity | 10/15 | €36,346 | €37,538 | +€1,193 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,746 | €18,938 | +€1,193 | +6.7% |
| Amounts payable | 17/49 | €3,735 | €311 | -€3,424 | -91.7% |
| Amounts payable within one year | 42/48 | €3,735 | €311 | -€3,424 | -91.7% |
| Trade debts | 44 | €2,890 | €311 | -€2,579 | -89.2% |
| Suppliers | 440/4 | €2,890 | €311 | -€2,579 | -89.2% |
| Taxes, remuneration and social security | 45 | €845 | - | -€845 | |
| Taxes | 450/3 | €845 | - | -€845 | |
| Remuneration, social security and pensions | 62 | €12,098 | €18,816 | +€6,718 | +55.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €450 | €678 | +€228 | +50.6% |
| Other operating charges | 640/8 | €348 | €526 | +€178 | +51.3% |
| Gross operating margin | 9900 | €23,783 | €21,275 | -€2,508 | -10.5% |
| Operating profit (loss) | 9901 | €10,888 | €1,256 | -€9,633 | -88.5% |
| Financial charges | 65/66B | €164 | €129 | -€34 | -20.9% |
| Recurring financial charges | 65 | €164 | €129 | -€34 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €10,725 | €1,126 | -€9,598 | -89.5% |
| Income taxes | 67/77 | - | -€66 | -€66 | |
| Profit (loss) for the period | 9904 | €10,725 | €1,193 | -€9,532 | -88.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,725 | €1,193 | -€9,532 | -88.9% |
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 20 October 2026 via checked.be.