SHAKAA: 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.
SHAKAA
Largest movements
- Cash -€199,844
down €199,844 (-95.7%), from €208,849 to €9,005
mainly Current investments (-€100,000) and Net result for the year (-€64,954)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year -€45,015
down €45,015 (-56.9%), from €79,093 to €34,078
of which Trade receivables: -€50,814
- Tangible fixed assets +€20,721
up €20,721 (+19.4%), from €106,730 to €127,450
of which Furniture and vehicles: +€27,592
- Profit (loss) carried forward -€64,954
down €64,954, from €57,704 to -€7,250
- Reserves -€64,171
down €64,171 (-26.9%), from €238,154 to €173,982
- Other debts +€36,527
up €36,527 (+253%), from €14,417 to €50,944
- Debts after one year -€15,948
down €15,948 (-89.5%), from €17,825 to €1,878
- Trade debts -€10,142
down €10,142 (-33.4%), from €30,344 to €20,202
- Gross operating margin -€41,926
down €41,926 (-37.0%), from €113,290 to €71,364
- Depreciation +€12,770
up €12,770 (+129%), from €9,912 to €22,682
- Taxes +€8,400
up €8,400 (+142%), from €5,921 to €14,321
- Staff costs +€7,265
up €7,265 (+8.2%), from €88,785 to €96,049
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 | €400,051 | €277,129 | -€122,923 | -30.7% |
| Fixed assets | 21/28 | €106,730 | €127,450 | +€20,721 | +19.4% |
| Tangible fixed assets | 22/27 | €106,730 | €127,450 | +€20,721 | +19.4% |
| Land and buildings | 22 | €84,714 | €77,499 | -€7,215 | -8.5% |
| Plant, machinery and equipment | 23 | €1,157 | €2,432 | +€1,275 | +110% |
| Furniture and vehicles | 24 | €11,833 | €39,425 | +€27,592 | +233% |
| Other tangible fixed assets | 26 | €9,026 | €8,094 | -€932 | -10.3% |
| Current assets | 29/58 | €293,322 | €149,678 | -€143,643 | -49.0% |
| Amounts receivable within one year | 40/41 | €79,093 | €34,078 | -€45,015 | -56.9% |
| Trade receivables | 40 | €67,217 | €16,402 | -€50,814 | -75.6% |
| Other amounts receivable | 41 | €11,877 | €17,676 | +€5,799 | +48.8% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €208,849 | €9,005 | -€199,844 | -95.7% |
| Deferred charges and accrued income | 490/1 | €5,380 | €6,595 | +€1,216 | +22.6% |
| Total equity and liabilities | 10/49 | €400,051 | €277,129 | -€122,923 | -30.7% |
| Equity | 10/15 | €296,858 | €167,732 | -€129,126 | -43.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €238,154 | €173,982 | -€64,171 | -26.9% |
| Non-distributable reserves | 130/1 | €238,154 | €173,982 | -€64,171 | -26.9% |
| Reserves not available under the articles | 1311 | €238,154 | €173,982 | -€64,171 | -26.9% |
| Profit (loss) carried forward | 14 | €57,704 | -€7,250 | -€64,954 | |
| Amounts payable | 17/49 | €103,193 | €109,396 | +€6,203 | +6.0% |
| Amounts payable after more than one year | 17 | €17,825 | €1,878 | -€15,948 | -89.5% |
| Financial debts | 170/4 | €17,825 | €1,878 | -€15,948 | -89.5% |
| Amounts payable within one year | 42/48 | €85,368 | €107,519 | +€22,150 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €15,849 | €15,948 | +€99 | +0.6% |
| Trade debts | 44 | €30,344 | €20,202 | -€10,142 | -33.4% |
| Suppliers | 440/4 | €30,344 | €20,202 | -€10,142 | -33.4% |
| Advances received on contracts in progress | 46 | - | €472 | +€472 | |
| Taxes, remuneration and social security | 45 | €24,759 | €19,953 | -€4,806 | -19.4% |
| Taxes | 450/3 | €12,574 | €7,333 | -€5,241 | -41.7% |
| Remuneration and social security | 454/9 | €12,185 | €12,620 | +€436 | +3.6% |
| Other amounts payable | 47/48 | €14,417 | €50,944 | +€36,527 | +253% |
| Non-recurring operating income | 76A | €4,751 | - | -€4,751 | |
| Remuneration, social security and pensions | 62 | €88,785 | €96,049 | +€7,265 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,912 | €22,682 | +€12,770 | +129% |
| Other operating charges | 640/8 | €2,265 | €1,703 | -€562 | -24.8% |
| Gross operating margin | 9900 | €113,290 | €71,364 | -€41,926 | -37.0% |
| Operating profit (loss) | 9901 | €12,329 | -€49,069 | -€61,398 | |
| Financial income | 75/76B | €1 | €22 | +€21 | +2,608% |
| Recurring financial income | 75 | €1 | €22 | +€21 | +2,608% |
| Financial charges | 65/66B | €1,341 | €1,585 | +€245 | +18.3% |
| Recurring financial charges | 65 | €1,341 | €1,585 | +€245 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €10,989 | -€50,633 | -€61,622 | |
| Income taxes | 67/77 | €5,921 | €14,321 | +€8,400 | +142% |
| Profit (loss) for the period | 9904 | €5,068 | -€64,954 | -€70,022 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,068 | -€64,954 | -€70,022 |
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 22 October 2026 via checked.be.