SHAN-B: 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.
SHAN-B
Largest movements
- Tangible fixed assets -€17,114
down €17,114 (-27.2%), from €62,903 to €45,790
of which Other tangible fixed assets: -€13,876
- Cash +€10,202
up €10,202 (+7099.1%), from €144 to €10,346
mainly Net result for the year (+€62,471) and Depreciation (+€17,114)
- Profit (loss) carried forward +€62,471
up €62,471, from -€36,971 to €25,500
- Trade debts -€58,553
down €58,553 (-57.9%), from €101,126 to €42,573
- Other debts -€13,291
down €13,291 (-29.3%), from €45,391 to €32,100
- Gross operating margin +€47,141
up €47,141 (+76.3%), from €61,782 to €108,923
- Staff costs +€21,742
new in 2025: €21,742
- Other operating charges +€2,534
up €2,534 (+654.2%), from €387 to €2,921
- Depreciation +€1,259
up €1,259 (+7.9%), from €15,855 to €17,114
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 | €131,875 | €123,702 | -€8,173 | -6.2% |
| Fixed assets | 21/28 | €63,013 | €45,900 | -€17,114 | -27.2% |
| Tangible fixed assets | 22/27 | €62,903 | €45,790 | -€17,114 | -27.2% |
| Plant, machinery and equipment | 23 | €2,394 | €1,632 | -€762 | -31.8% |
| Furniture and vehicles | 24 | €6,626 | €4,151 | -€2,475 | -37.4% |
| Other tangible fixed assets | 26 | €53,883 | €40,007 | -€13,876 | -25.8% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €68,862 | €77,803 | +€8,941 | +13.0% |
| Amounts receivable within one year | 40/41 | €67,797 | €67,457 | -€340 | -0.5% |
| Trade receivables | 40 | €55,445 | €58,207 | +€2,762 | +5.0% |
| Other amounts receivable | 41 | €12,352 | €9,250 | -€3,103 | -25.1% |
| Cash at bank and in hand | 54/58 | €144 | €10,346 | +€10,202 | +7099.1% |
| Deferred charges and accrued income | 490/1 | €921 | - | -€921 | |
| Total equity and liabilities | 10/49 | €131,875 | €123,702 | -€8,173 | -6.2% |
| Equity | 10/15 | -€18,371 | €44,100 | +€62,471 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,971 | €25,500 | +€62,471 | |
| Amounts payable | 17/49 | €150,246 | €79,602 | -€70,644 | -47.0% |
| Amounts payable within one year | 42/48 | €150,246 | €79,602 | -€70,644 | -47.0% |
| Trade debts | 44 | €101,126 | €42,573 | -€58,553 | -57.9% |
| Suppliers | 440/4 | €101,126 | €42,573 | -€58,553 | -57.9% |
| Taxes, remuneration and social security | 45 | €3,729 | €4,929 | +€1,200 | +32.2% |
| Remuneration and social security | 454/9 | €3,729 | €4,929 | +€1,200 | +32.2% |
| Other amounts payable | 47/48 | €45,391 | €32,100 | -€13,291 | -29.3% |
| Remuneration, social security and pensions | 62 | - | €21,742 | +€21,742 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,855 | €17,114 | +€1,259 | +7.9% |
| Other operating charges | 640/8 | €387 | €2,921 | +€2,534 | +654.2% |
| Non-recurring operating charges | 66A | - | €4,100 | +€4,100 | |
| Gross operating margin | 9900 | €61,782 | €108,923 | +€47,141 | +76.3% |
| Operating profit (loss) | 9901 | €45,540 | €63,046 | +€17,506 | +38.4% |
| Financial income | 75/76B | €0 | €48 | +€48 | +484400.0% |
| Recurring financial income | 75 | €0 | €48 | +€48 | +484400.0% |
| Financial charges | 65/66B | €978 | €623 | -€355 | -36.3% |
| Recurring financial charges | 65 | €978 | €623 | -€355 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €44,562 | €62,471 | +€17,909 | +40.2% |
| Profit (loss) for the period | 9904 | €44,562 | €62,471 | +€17,909 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,562 | €62,471 | +€17,909 | +40.2% |
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 8 October 2026 via checked.be.