SHAKEB: 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.
SHAKEB
Largest movements
- Deferred charges and accrued income +€31,116
up €31,116 (+945%), from €3,292 to €34,408
- Receivables within one year -€25,770
down €25,770 (-27.4%), from €94,109 to €68,339
of which Trade receivables: -€28,615
- Tangible fixed assets -€9,625
down €9,625 (-28.8%), from €33,386 to €23,761
- Cash -€8,522
down €8,522 (-33.9%), from €25,160 to €16,638
mainly Deferred charges and accrued income (-€31,116) and Debts after one year (-€11,043)
- Debts after one year -€11,043
down €11,043 (-48.1%), from €22,938 to €11,895
- Profit (loss) carried forward -€2,880
down €2,880 (-4.1%), from €70,836 to €67,956
- Staff costs -€19,305
down €19,305 (-40.6%), from €47,602 to €28,297
- Gross operating margin -€14,040
down €14,040 (-26.7%), from €52,556 to €38,516
- Depreciation +€4,511
up €4,511 (+88.2%), from €5,114 to €9,625
- Financial charges +€640
up €640 (+53.4%), from €1,198 to €1,838
- Other operating charges +€554
up €554 (+51.2%), from €1,082 to €1,636
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 | €155,947 | €143,146 | -€12,801 | -8.2% |
| Fixed assets | 21/28 | €33,386 | €23,761 | -€9,625 | -28.8% |
| Tangible fixed assets | 22/27 | €33,386 | €23,761 | -€9,625 | -28.8% |
| Furniture and vehicles | 24 | €33,386 | €23,761 | -€9,625 | -28.8% |
| Current assets | 29/58 | €122,561 | €119,385 | -€3,176 | -2.6% |
| Amounts receivable within one year | 40/41 | €94,109 | €68,339 | -€25,770 | -27.4% |
| Trade receivables | 40 | €69,391 | €40,776 | -€28,615 | -41.2% |
| Other amounts receivable | 41 | €24,718 | €27,563 | +€2,845 | +11.5% |
| Cash at bank and in hand | 54/58 | €25,160 | €16,638 | -€8,522 | -33.9% |
| Deferred charges and accrued income | 490/1 | €3,292 | €34,408 | +€31,116 | +945% |
| Total equity and liabilities | 10/49 | €155,947 | €143,146 | -€12,801 | -8.2% |
| Equity | 10/15 | €101,902 | €99,022 | -€2,880 | -2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €12,474 | €12,474 | = | 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% |
| Distributable reserves | 133 | €10,615 | €10,615 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,836 | €67,956 | -€2,880 | -4.1% |
| Amounts payable | 17/49 | €54,045 | €44,124 | -€9,921 | -18.4% |
| Amounts payable after more than one year | 17 | €22,938 | €11,895 | -€11,043 | -48.1% |
| Financial debts | 170/4 | €22,938 | €11,895 | -€11,043 | -48.1% |
| Amounts payable within one year | 42/48 | €31,107 | €32,229 | +€1,122 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €12,857 | €13,751 | +€894 | +7.0% |
| Trade debts | 44 | €11,697 | €11,635 | -€62 | -0.5% |
| Suppliers | 440/4 | €11,697 | €11,635 | -€62 | -0.5% |
| Taxes, remuneration and social security | 45 | €6,553 | €6,843 | +€290 | +4.4% |
| Taxes | 450/3 | €921 | - | -€921 | |
| Remuneration and social security | 454/9 | €5,632 | €6,843 | +€1,211 | +21.5% |
| Remuneration, social security and pensions | 62 | €47,602 | €28,297 | -€19,305 | -40.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,114 | €9,625 | +€4,511 | +88.2% |
| Other operating charges | 640/8 | €1,082 | €1,636 | +€554 | +51.2% |
| Gross operating margin | 9900 | €52,556 | €38,516 | -€14,040 | -26.7% |
| Operating profit (loss) | 9901 | -€1,242 | -€1,042 | +€200 | +16.1% |
| Financial charges | 65/66B | €1,198 | €1,838 | +€640 | +53.4% |
| Recurring financial charges | 65 | €1,198 | €1,838 | +€640 | +53.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,440 | -€2,880 | -€440 | -18.0% |
| Profit (loss) for the period | 9904 | -€2,440 | -€2,880 | -€440 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,440 | -€2,880 | -€440 | -18.0% |
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 13 October 2026 via checked.be.