SHALLWE: what changed
Two fiscal 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.
SHALLWE
Largest movements
- Cash -€22,007
down €22,007 (-52.2%), from €42,193 to €20,187
mainly Net result for the year (-€25,081) and Receivables within one year (-€3,328)
- Receivables within one year +€3,328
up €3,328 (+344.8%), from €965 to €4,293
of which Trade receivables: +€3,328
- Tangible fixed assets -€2,334
down €2,334 (-37.4%), from €6,242 to €3,908
- Reserves -€24,386
down €24,386 (-100.0%), from €24,386 to €0
- Other debts +€5,278
up €5,278 (+41.9%), from €12,586 to €17,864
- Trade debts +€3,023
up €3,023 (+144.6%), from €2,090 to €5,113
- Debts after one year -€2,414
down €2,414 (-66.3%), from €3,642 to €1,228
- Tax, wage and social debts -€2,323
down €2,323 (-68.4%), from €3,395 to €1,072
- Gross operating margin -€43,764
down €43,764, from €22,499 to -€21,264
- Taxes -€3,894
down €3,894 (-96.5%), from €4,035 to €141
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 | €51,960 | €30,497 | -€21,463 | -41.3% |
| Fixed assets | 21/28 | €6,242 | €3,908 | -€2,334 | -37.4% |
| Tangible fixed assets | 22/27 | €6,242 | €3,908 | -€2,334 | -37.4% |
| Furniture and vehicles | 24 | €6,242 | €3,908 | -€2,334 | -37.4% |
| Current assets | 29/58 | €45,718 | €26,589 | -€19,129 | -41.8% |
| Amounts receivable within one year | 40/41 | €965 | €4,293 | +€3,328 | +344.8% |
| Trade receivables | 40 | €0 | €3,328 | +€3,328 | |
| Other amounts receivable | 41 | €965 | €965 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €42,193 | €20,187 | -€22,007 | -52.2% |
| Deferred charges and accrued income | 490/1 | €2,559 | €2,109 | -€450 | -17.6% |
| Total equity and liabilities | 10/49 | €51,960 | €30,497 | -€21,463 | -41.3% |
| Equity | 10/15 | €27,886 | €2,805 | -€25,081 | -89.9% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €24,386 | €0 | -€24,386 | -100.0% |
| Distributable reserves | 133 | €24,386 | €0 | -€24,386 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€695 | -€695 | |
| Amounts payable | 17/49 | €24,073 | €27,691 | +€3,618 | +15.0% |
| Amounts payable after more than one year | 17 | €3,642 | €1,228 | -€2,414 | -66.3% |
| Financial debts | 170/4 | €3,642 | €1,228 | -€2,414 | -66.3% |
| Amounts payable within one year | 42/48 | €20,431 | €26,463 | +€6,032 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €2,360 | €2,414 | +€54 | +2.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,090 | €5,113 | +€3,023 | +144.6% |
| Suppliers | 440/4 | €2,090 | €5,113 | +€3,023 | +144.6% |
| Taxes, remuneration and social security | 45 | €3,395 | €1,072 | -€2,323 | -68.4% |
| Taxes | 450/3 | €3,395 | €1,072 | -€2,323 | -68.4% |
| Other amounts payable | 47/48 | €12,586 | €17,864 | +€5,278 | +41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,334 | €2,334 | = | 0.0% |
| Other operating charges | 640/8 | €669 | €692 | +€23 | +3.4% |
| Gross operating margin | 9900 | €22,499 | -€21,264 | -€43,764 | |
| Operating profit (loss) | 9901 | €19,496 | -€24,290 | -€43,787 | |
| Financial income | 75/76B | €7 | €0 | -€7 | -100.0% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100.0% |
| Financial charges | 65/66B | €791 | €649 | -€142 | -17.9% |
| Recurring financial charges | 65 | €791 | €649 | -€142 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €18,712 | -€24,940 | -€43,652 | |
| Income taxes | 67/77 | €4,035 | €141 | -€3,894 | -96.5% |
| Profit (loss) for the period | 9904 | €14,678 | -€25,081 | -€39,758 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,678 | -€25,081 | -€39,758 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.