SHAKE: 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.
SHAKE
Largest movements
- Receivables within one year +€3,419
up €3,419 (+615.7%), from €555 to €3,974
of which Trade receivables: +€3,401
- Cash -€3,255
down €3,255 (-14.2%), from €22,884 to €19,629
mainly Trade debts (-€17,015) and Tax, wage and social debts (-€5,200)
- Tangible fixed assets +€2,191
up €2,191 (+51.1%), from €4,285 to €6,476
of which Plant, machinery and equipment: +€2,303
- Trade debts -€17,015
down €17,015 (-16.4%), from €103,882 to €86,866
- Profit (loss) carried forward +€14,137
up €14,137 (+5.9%), from -€238,498 to -€224,361
- Other debts +€11,521
up €11,521 (+14.2%), from €81,107 to €92,628
- Tax, wage and social debts -€5,200
down €5,200 (-5.8%), from €89,749 to €84,549
of which Taxes: -€2,772
- Current portion of long-term debt -€903
no longer reported in 2025 (was €903)
- Gross operating margin +€54,147
up €54,147 (+27.2%), from €198,830 to €252,977
- Staff costs -€9,927
down €9,927 (-4.1%), from €242,689 to €232,762
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.
Cash bridge derived
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 | €57,593 | €60,133 | +€2,541 | +4.4% |
| Fixed assets | 21/28 | €19,220 | €21,412 | +€2,191 | +11.4% |
| Tangible fixed assets | 22/27 | €4,285 | €6,476 | +€2,191 | +51.1% |
| Plant, machinery and equipment | 23 | €3,449 | €5,753 | +€2,303 | +66.8% |
| Other tangible fixed assets | 26 | €835 | €723 | -€112 | -13.4% |
| Financial fixed assets | 28 | €14,936 | €14,936 | = | 0.0% |
| Current assets | 29/58 | €38,372 | €38,722 | +€349 | +0.9% |
| Stocks and contracts in progress | 3 | €14,575 | €14,359 | -€216 | -1.5% |
| Stocks | 30/36 | €14,575 | €14,359 | -€216 | -1.5% |
| Amounts receivable within one year | 40/41 | €555 | €3,974 | +€3,419 | +615.7% |
| Trade receivables | 40 | €423 | €3,823 | +€3,401 | +804.6% |
| Other amounts receivable | 41 | €133 | €151 | +€18 | +13.7% |
| Cash at bank and in hand | 54/58 | €22,884 | €19,629 | -€3,255 | -14.2% |
| Deferred charges and accrued income | 490/1 | €359 | €760 | +€401 | +111.9% |
| Total equity and liabilities | 10/49 | €57,593 | €60,133 | +€2,541 | +4.4% |
| Equity | 10/15 | -€218,047 | -€203,910 | +€14,137 | +6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€238,498 | -€224,361 | +€14,137 | +5.9% |
| Amounts payable | 17/49 | €275,640 | €264,043 | -€11,597 | -4.2% |
| Amounts payable within one year | 42/48 | €275,640 | €264,043 | -€11,597 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €903 | - | -€903 | |
| Trade debts | 44 | €103,882 | €86,866 | -€17,015 | -16.4% |
| Suppliers | 440/4 | €103,882 | €86,866 | -€17,015 | -16.4% |
| Taxes, remuneration and social security | 45 | €89,749 | €84,549 | -€5,200 | -5.8% |
| Taxes | 450/3 | €12,720 | €9,948 | -€2,772 | -21.8% |
| Remuneration and social security | 454/9 | €77,029 | €74,601 | -€2,428 | -3.2% |
| Other amounts payable | 47/48 | €81,107 | €92,628 | +€11,521 | +14.2% |
| Non-recurring operating income | 76A | €10,860 | - | -€10,860 | |
| Remuneration, social security and pensions | 62 | €242,689 | €232,762 | -€9,927 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,875 | €2,923 | +€49 | +1.7% |
| Other operating charges | 640/8 | €882 | €1,039 | +€157 | +17.8% |
| Gross operating margin | 9900 | €198,830 | €252,977 | +€54,147 | +27.2% |
| Operating profit (loss) | 9901 | -€47,617 | €16,252 | +€63,869 | |
| Financial income | 75/76B | - | €451 | +€451 | |
| Recurring financial income | 75 | - | €451 | +€451 | |
| Financial charges | 65/66B | €4,150 | €2,566 | -€1,585 | -38.2% |
| Recurring financial charges | 65 | €4,150 | €2,566 | -€1,585 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | -€51,767 | €14,137 | +€65,904 | |
| Profit (loss) for the period | 9904 | -€51,767 | €14,137 | +€65,904 | |
| Profit (loss) for the period to be appropriated | 9905 | -€51,767 | €14,137 | +€65,904 |
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 12 October 2026 via checked.be.