Shamrock: 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.
Shamrock
Largest movements
- Receivables within one year -€224,204
down €224,204 (-34.7%), from €646,368 to €422,164
of which Other amounts receivable: -€313,832
- Tangible fixed assets -€193,573
down €193,573 (-11.8%), from €1.6m to €1.5m
of which Land and buildings: -€191,825
- Cash -€26,079
down €26,079 (-37.5%), from €69,509 to €43,430
mainly Net result for the year (-€315,661) and Debts after one year (-€225,112)
- Reserves -€233,724
down €233,724 (-83.1%), from €281,160 to €47,436
of which Distributable reserves: -€233,724
- Debts after one year -€225,112
down €225,112 (-35.2%), from €640,165 to €415,053
- Other debts +€130,983
up €130,983 (+271%), from €48,330 to €179,313
- Profit (loss) carried forward -€81,937
new in 2025: -€81,937
- Trade debts -€28,150
down €28,150 (-9.5%), from €296,390 to €268,240
- Financial charges +€168,478
up €168,478 (+535%), from €31,489 to €199,968
- Staff costs +€123,387
up €123,387 (+15.8%), from €779,940 to €903,328
- Gross operating margin -€54,176
down €54,176 (-4.8%), from €1.1m to €1.1m
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 | €2,392,175 | €1,946,722 | -€445,452 | -18.6% |
| Fixed assets | 21/28 | €1,646,561 | €1,452,988 | -€193,573 | -11.8% |
| Tangible fixed assets | 22/27 | €1,646,399 | €1,452,826 | -€193,573 | -11.8% |
| Land and buildings | 22 | €1,536,892 | €1,345,067 | -€191,825 | -12.5% |
| Plant, machinery and equipment | 23 | €72,595 | €89,758 | +€17,163 | +23.6% |
| Furniture and vehicles | 24 | €36,912 | €18,001 | -€18,911 | -51.2% |
| Financial fixed assets | 28 | €161 | €161 | = | 0.0% |
| Current assets | 29/58 | €745,614 | €493,735 | -€251,880 | -33.8% |
| Stocks and contracts in progress | 3 | €27,604 | €27,893 | +€288 | +1.0% |
| Stocks | 30/36 | €27,604 | €27,893 | +€288 | +1.0% |
| Amounts receivable within one year | 40/41 | €646,368 | €422,164 | -€224,204 | -34.7% |
| Trade receivables | 40 | €84,889 | €174,517 | +€89,628 | +106% |
| Other amounts receivable | 41 | €561,479 | €247,647 | -€313,832 | -55.9% |
| Current investments | 50/53 | €248 | €248 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €69,509 | €43,430 | -€26,079 | -37.5% |
| Deferred charges and accrued income | 490/1 | €1,884 | €0 | -€1,884 | -100% |
| Total equity and liabilities | 10/49 | €2,392,175 | €1,946,722 | -€445,452 | -18.6% |
| Equity | 10/15 | €1,068,160 | €752,499 | -€315,661 | -29.6% |
| Contributions | 10/11 | €787,000 | €787,000 | = | 0.0% |
| Capital | 10 | €787,000 | €787,000 | = | 0.0% |
| Issued capital | 100 | €787,000 | €787,000 | = | 0.0% |
| Reserves | 13 | €281,160 | €47,436 | -€233,724 | -83.1% |
| Non-distributable reserves | 130/1 | €47,311 | €47,311 | = | 0.0% |
| Legal reserve | 130 | €47,311 | €47,311 | = | 0.0% |
| Tax-exempt reserves | 132 | €125 | €125 | = | 0.0% |
| Distributable reserves | 133 | €233,724 | €0 | -€233,724 | -100% |
| Profit (loss) carried forward | 14 | - | -€81,937 | -€81,937 | |
| Amounts payable | 17/49 | €1,324,015 | €1,194,224 | -€129,792 | -9.8% |
| Amounts payable after more than one year | 17 | €640,165 | €415,053 | -€225,112 | -35.2% |
| Financial debts | 170/4 | €640,165 | €415,053 | -€225,112 | -35.2% |
| Amounts payable within one year | 42/48 | €683,850 | €779,170 | +€95,321 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €220,439 | €217,463 | -€2,976 | -1.3% |
| Trade debts | 44 | €296,390 | €268,240 | -€28,150 | -9.5% |
| Suppliers | 440/4 | €296,390 | €268,240 | -€28,150 | -9.5% |
| Taxes, remuneration and social security | 45 | €118,691 | €114,155 | -€4,536 | -3.8% |
| Taxes | 450/3 | €33,729 | €14,897 | -€18,832 | -55.8% |
| Remuneration and social security | 454/9 | €84,963 | €99,258 | +€14,295 | +16.8% |
| Other amounts payable | 47/48 | €48,330 | €179,313 | +€130,983 | +271% |
| Remuneration, social security and pensions | 62 | €779,940 | €903,328 | +€123,387 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €269,193 | €258,881 | -€10,312 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €860 | €0 | -€860 | -100% |
| Other operating charges | 640/8 | €44,590 | €36,448 | -€8,142 | -18.3% |
| Non-recurring operating charges | 66A | €171 | €201 | +€30 | +17.7% |
| Gross operating margin | 9900 | €1,137,454 | €1,083,278 | -€54,176 | -4.8% |
| Operating profit (loss) | 9901 | €42,699 | -€115,580 | -€158,279 | |
| Financial income | 75/76B | €971 | €124 | -€847 | -87.3% |
| Recurring financial income | 75 | €971 | €124 | -€847 | -87.3% |
| Financial charges | 65/66B | €31,489 | €199,968 | +€168,478 | +535% |
| Recurring financial charges | 65 | €31,489 | €199,968 | +€168,478 | +535% |
| Profit (loss) for the period before taxes | 9903 | €12,181 | -€315,424 | -€327,604 | |
| Income taxes | 67/77 | €250 | €237 | -€13 | -5.1% |
| Profit (loss) for the period | 9904 | €11,931 | -€315,661 | -€327,592 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,931 | -€315,661 | -€327,592 |
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 19 October 2026 via checked.be.