Shana Blondeel: 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.
Shana Blondeel
Largest movements
- Cash -€66,315
down €66,315 (-87.0%), from €76,229 to €9,914
mainly Contributions, distributions and other (-€18,000) and Tax, wage and social debts (-€12,484)
- Receivables within one year +€7,705
up €7,705 (+777%), from €992 to €8,697
of which Trade receivables: +€6,706
- Contributions -€18,000
down €18,000 (-90.0%), from €20,000 to €2,000
- Tax, wage and social debts -€12,484
down €12,484 (-81.4%), from €15,333 to €2,849
of which Remuneration and social security: -€7,418
- Other debts -€11,585
no longer reported in 2025 (was €11,585)
- Profit (loss) carried forward -€9,508
down €9,508, from €1,549 to -€7,959
- Debts after one year -€7,580
down €7,580 (-47.8%), from €15,872 to €8,292
- Gross operating margin -€102,732
down €102,732, from €89,951 to -€12,781
- Staff costs -€71,146
down €71,146, from €67,598 to -€3,549
- Taxes -€7,420
down €7,420, from €4,741 to -€2,678
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 | €77,696 | €19,892 | -€57,804 | -74.4% |
| Fixed assets | 21/28 | €476 | €664 | +€188 | +39.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €476 | €664 | +€188 | +39.5% |
| Plant, machinery and equipment | 23 | - | €606 | +€606 | |
| Furniture and vehicles | 24 | €476 | €57 | -€418 | -88.0% |
| Current assets | 29/58 | €77,220 | €19,229 | -€57,992 | -75.1% |
| Amounts receivable within one year | 40/41 | €992 | €8,697 | +€7,705 | +777% |
| Trade receivables | 40 | €118 | €6,824 | +€6,706 | +5,680% |
| Other amounts receivable | 41 | €874 | €1,873 | +€999 | +114% |
| Cash at bank and in hand | 54/58 | €76,229 | €9,914 | -€66,315 | -87.0% |
| Deferred charges and accrued income | 490/1 | - | €618 | +€618 | |
| Total equity and liabilities | 10/49 | €77,696 | €19,892 | -€57,804 | -74.4% |
| Equity | 10/15 | €27,290 | -€218 | -€27,508 | |
| Contributions | 10/11 | €20,000 | €2,000 | -€18,000 | -90.0% |
| Reserves | 13 | €5,741 | €5,741 | = | 0.0% |
| Distributable reserves | 133 | €5,741 | €5,741 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,549 | -€7,959 | -€9,508 | |
| Amounts payable | 17/49 | €50,407 | €20,111 | -€30,296 | -60.1% |
| Amounts payable after more than one year | 17 | €15,872 | €8,292 | -€7,580 | -47.8% |
| Financial debts | 170/4 | €15,872 | €8,292 | -€7,580 | -47.8% |
| Amounts payable within one year | 42/48 | €34,534 | €11,819 | -€22,715 | -65.8% |
| Current portion of amounts payable after more than one year | 42 | €7,370 | €7,580 | +€211 | +2.9% |
| Trade debts | 44 | €246 | €1,389 | +€1,143 | +464% |
| Suppliers | 440/4 | €246 | €1,389 | +€1,143 | +464% |
| Taxes, remuneration and social security | 45 | €15,333 | €2,849 | -€12,484 | -81.4% |
| Taxes | 450/3 | €7,915 | €2,849 | -€5,066 | -64.0% |
| Remuneration and social security | 454/9 | €7,418 | - | -€7,418 | |
| Other amounts payable | 47/48 | €11,585 | - | -€11,585 | |
| Remuneration, social security and pensions | 62 | €67,598 | -€3,549 | -€71,146 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €418 | €591 | +€173 | +41.3% |
| Other operating charges | 640/8 | €795 | €841 | +€46 | +5.8% |
| Gross operating margin | 9900 | €89,951 | -€12,781 | -€102,732 | |
| Operating profit (loss) | 9901 | €21,140 | -€10,665 | -€31,805 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,829 | €1,522 | -€308 | -16.8% |
| Recurring financial charges | 65 | €1,829 | €1,522 | -€308 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €19,312 | -€12,186 | -€31,498 | |
| Income taxes | 67/77 | €4,741 | -€2,678 | -€7,420 | |
| Profit (loss) for the period | 9904 | €14,571 | -€9,508 | -€24,079 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,571 | -€9,508 | -€24,079 |
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 31 October 2026 via checked.be.