SHAN: 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.
SHAN
Largest movements
- Stocks and contracts +€7,015
up €7,015 (+12.1%), from €57,985 to €65,000
- Cash +€2,747
up €2,747 (+117%), from €2,340 to €5,087
mainly Short-term financial debts (+€8,909) and Net result for the year (+€4,174)
- Receivables within one year -€2,739
no longer reported in 2025 (was €2,739)
- Short-term financial debts +€8,909
up €8,909 (+697%), from €1,278 to €10,187
- Other debts -€6,699
down €6,699 (-39.6%), from €16,898 to €10,198
- Profit (loss) carried forward +€4,174
up €4,174 (+23.1%), from €18,075 to €22,249
- Tax, wage and social debts +€3,476
new in 2025: €3,476
- Trade debts -€2,871
down €2,871 (-8.3%), from €34,489 to €31,617
- Gross operating margin +€7,698
up €7,698 (+14.7%), from €52,266 to €59,964
- Staff costs +€6,584
up €6,584 (+14.9%), from €44,149 to €50,732
- Financial charges -€3,061
down €3,061 (-25.3%), from €12,085 to €9,024
- Taxes +€892
up €892 (+212%), from €420 to €1,312
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 | €76,939 | €83,928 | +€6,989 | +9.1% |
| Fixed assets | 21/28 | €13,361 | €13,016 | -€345 | -2.6% |
| Intangible fixed assets | 21 | €1,200 | €900 | -€300 | -25.0% |
| Tangible fixed assets | 22/27 | €12,161 | €12,116 | -€45 | -0.4% |
| Land and buildings | 22 | €4,338 | €3,894 | -€445 | -10.2% |
| Plant, machinery and equipment | 23 | €1,123 | €724 | -€399 | -35.5% |
| Furniture and vehicles | 24 | €0 | €2,138 | +€2,138 | |
| Other tangible fixed assets | 26 | €6,699 | €5,359 | -€1,340 | -20.0% |
| Current assets | 29/58 | €63,578 | €70,912 | +€7,334 | +11.5% |
| Stocks and contracts in progress | 3 | €57,985 | €65,000 | +€7,015 | +12.1% |
| Stocks | 30/36 | €57,985 | €65,000 | +€7,015 | +12.1% |
| Amounts receivable within one year | 40/41 | €2,739 | - | -€2,739 | |
| Other amounts receivable | 41 | €2,739 | - | -€2,739 | |
| Cash at bank and in hand | 54/58 | €2,340 | €5,087 | +€2,747 | +117% |
| Deferred charges and accrued income | 490/1 | €514 | €825 | +€311 | +60.4% |
| Total equity and liabilities | 10/49 | €76,939 | €83,928 | +€6,989 | +9.1% |
| Equity | 10/15 | €24,275 | €28,449 | +€4,174 | +17.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,075 | €22,249 | +€4,174 | +23.1% |
| Amounts payable | 17/49 | €52,664 | €55,479 | +€2,814 | +5.3% |
| Amounts payable within one year | 42/48 | €52,664 | €55,479 | +€2,814 | +5.3% |
| Financial debts | 43 | €1,278 | €10,187 | +€8,909 | +697% |
| Credit institutions | 430/8 | €1,278 | €10,187 | +€8,909 | +697% |
| Trade debts | 44 | €34,489 | €31,617 | -€2,871 | -8.3% |
| Suppliers | 440/4 | €34,489 | €31,617 | -€2,871 | -8.3% |
| Taxes, remuneration and social security | 45 | - | €3,476 | +€3,476 | |
| Taxes | 450/3 | - | €3,476 | +€3,476 | |
| Other amounts payable | 47/48 | €16,898 | €10,198 | -€6,699 | -39.6% |
| Remuneration, social security and pensions | 62 | €44,149 | €50,732 | +€6,584 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,370 | €2,645 | +€276 | +11.6% |
| Other operating charges | 640/8 | €8,082 | €8,143 | +€61 | +0.8% |
| Gross operating margin | 9900 | €52,266 | €59,964 | +€7,698 | +14.7% |
| Operating profit (loss) | 9901 | -€2,335 | -€1,557 | +€778 | +33.3% |
| Financial income | 75/76B | €16,153 | €16,067 | -€86 | -0.5% |
| Recurring financial income | 75 | €16,153 | €16,067 | -€86 | -0.5% |
| Financial charges | 65/66B | €12,085 | €9,024 | -€3,061 | -25.3% |
| Recurring financial charges | 65 | €12,085 | €9,024 | -€3,061 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €1,733 | €5,486 | +€3,753 | +216% |
| Income taxes | 67/77 | €420 | €1,312 | +€892 | +212% |
| Profit (loss) for the period | 9904 | €1,313 | €4,174 | +€2,861 | +218% |
| Profit (loss) for the period to be appropriated | 9905 | €1,313 | €4,174 | +€2,861 | +218% |
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 26 October 2026 via checked.be.