SHAMS: 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.
SHAMS
Largest movements
- Cash -€24,458
down €24,458 (-31.7%), from €77,215 to €52,758
mainly Trade debts (-€13,549) and Net result for the year (-€12,404)
- Receivables within one year -€11,820
down €11,820 (-31.1%), from €37,999 to €26,179
of which Other amounts receivable: -€15,964
- Trade debts -€13,549
no longer reported in 2025 (was €13,549)
- Profit (loss) carried forward -€12,404
down €12,404 (-16.1%), from €77,133 to €64,729
- Tax, wage and social debts -€10,433
down €10,433 (-47.0%), from €22,195 to €11,763
of which Remuneration and social security: -€7,587
- Gross operating margin -€18,382
down €18,382 (-65.3%), from €28,160 to €9,777
- Taxes +€8,245
up €8,245 (+199.8%), from €4,127 to €12,372
- Staff costs -€1,879
down €1,879 (-20.1%), from €9,338 to €7,459
- Depreciation -€1,678
down €1,678 (-75.0%), from €2,237 to €559
- Other operating charges -€304
down €304 (-18.1%), from €1,678 to €1,374
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 | €119,078 | €82,692 | -€36,386 | -30.6% |
| Fixed assets | 21/28 | €1,582 | €1,022 | -€559 | -35.4% |
| Tangible fixed assets | 22/27 | €1,582 | €1,022 | -€559 | -35.4% |
| Plant, machinery and equipment | 23 | €1,332 | €1,022 | -€310 | -23.3% |
| Furniture and vehicles | 24 | €249 | - | -€249 | |
| Current assets | 29/58 | €117,496 | €81,670 | -€35,826 | -30.5% |
| Stocks and contracts in progress | 3 | €2,282 | €2,640 | +€358 | +15.7% |
| Stocks | 30/36 | €2,282 | €2,640 | +€358 | +15.7% |
| Amounts receivable within one year | 40/41 | €37,999 | €26,179 | -€11,820 | -31.1% |
| Trade receivables | 40 | €9,197 | €13,341 | +€4,143 | +45.1% |
| Other amounts receivable | 41 | €28,802 | €12,838 | -€15,964 | -55.4% |
| Cash at bank and in hand | 54/58 | €77,215 | €52,758 | -€24,458 | -31.7% |
| Deferred charges and accrued income | 490/1 | - | €93 | +€93 | |
| Total equity and liabilities | 10/49 | €119,078 | €82,692 | -€36,386 | -30.6% |
| Equity | 10/15 | €83,333 | €70,929 | -€12,404 | -14.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,133 | €64,729 | -€12,404 | -16.1% |
| Amounts payable | 17/49 | €35,744 | €11,763 | -€23,982 | -67.1% |
| Amounts payable within one year | 42/48 | €35,744 | €11,763 | -€23,982 | -67.1% |
| Trade debts | 44 | €13,549 | - | -€13,549 | |
| Suppliers | 440/4 | €13,549 | - | -€13,549 | |
| Taxes, remuneration and social security | 45 | €22,195 | €11,763 | -€10,433 | -47.0% |
| Taxes | 450/3 | €13,698 | €10,853 | -€2,846 | -20.8% |
| Remuneration and social security | 454/9 | €8,497 | €910 | -€7,587 | -89.3% |
| Remuneration, social security and pensions | 62 | €9,338 | €7,459 | -€1,879 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,237 | €559 | -€1,678 | -75.0% |
| Other operating charges | 640/8 | €1,678 | €1,374 | -€304 | -18.1% |
| Gross operating margin | 9900 | €28,160 | €9,777 | -€18,382 | -65.3% |
| Operating profit (loss) | 9901 | €14,906 | €384 | -€14,522 | -97.4% |
| Financial charges | 65/66B | €429 | €417 | -€12 | -2.8% |
| Recurring financial charges | 65 | €429 | €417 | -€12 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €14,477 | -€33 | -€14,510 | |
| Income taxes | 67/77 | €4,127 | €12,372 | +€8,245 | +199.8% |
| Profit (loss) for the period | 9904 | €10,350 | -€12,404 | -€22,755 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,350 | -€12,404 | -€22,755 |
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 10 October 2026 via checked.be.