SHANA DE GRAEVE: what changed
SHANA DE GRAEVE
Largest movements
- Cash +€2,010
up €2,010 (+187%), from €1,077 to €3,087
mainly Net result for the year (+€5,351) and Accrued charges and deferred income (+€847)
- Receivables within one year +€1,844
new in 2025: €1,844
- Tangible fixed assets +€1,321
up €1,321 (+193%), from €686 to €2,007
of which Plant, machinery and equipment: +€1,019
- Deferred charges and accrued income -€698
down €698 (-8.4%), from €8,300 to €7,602
- Formation expenses -€524
down €524 (-28.2%), from €1,861 to €1,337
- Profit (loss) carried forward +€5,351
up €5,351 (+151%), from €3,544 to €8,895
- Other debts -€1,343
down €1,343 (-100%), from €1,343 to €0
- Accrued charges and deferred income +€847
new in 2025: €847
- Tax, wage and social debts -€753
down €753 (-16.5%), from €4,568 to €3,815
of which Taxes: -€753
- Financial charges -€1,860
down €1,860 (-87.7%), from €2,121 to €261
- Taxes +€868
up €868 (+97.1%), from €894 to €1,762
- Other operating charges +€466
up €466 (+78.4%), from €595 to €1,061
- Depreciation -€173
down €173 (-17.8%), from €967 to €795
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,923 | €15,876 | +€3,953 | +33.2% |
| Formation expenses | 20 | €1,861 | €1,337 | -€524 | -28.2% |
| Fixed assets | 21/28 | €686 | €2,007 | +€1,321 | +193% |
| Tangible fixed assets | 22/27 | €686 | €2,007 | +€1,321 | +193% |
| Plant, machinery and equipment | 23 | - | €1,019 | +€1,019 | |
| Furniture and vehicles | 24 | €686 | €988 | +€302 | +44.0% |
| Current assets | 29/58 | €9,377 | €12,533 | +€3,156 | +33.7% |
| Amounts receivable within one year | 40/41 | - | €1,844 | +€1,844 | |
| Other amounts receivable | 41 | - | €1,844 | +€1,844 | |
| Cash at bank and in hand | 54/58 | €1,077 | €3,087 | +€2,010 | +187% |
| Deferred charges and accrued income | 490/1 | €8,300 | €7,602 | -€698 | -8.4% |
| Total equity and liabilities | 10/49 | €11,923 | €15,876 | +€3,953 | +33.2% |
| Equity | 10/15 | €5,544 | €10,895 | +€5,351 | +96.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,544 | €8,895 | +€5,351 | +151% |
| Amounts payable | 17/49 | €6,379 | €4,981 | -€1,398 | -21.9% |
| Amounts payable within one year | 42/48 | €6,379 | €4,134 | -€2,245 | -35.2% |
| Trade debts | 44 | €468 | €319 | -€149 | -31.8% |
| Suppliers | 440/4 | €468 | €319 | -€149 | -31.8% |
| Taxes, remuneration and social security | 45 | €4,568 | €3,815 | -€753 | -16.5% |
| Taxes | 450/3 | €4,568 | €3,815 | -€753 | -16.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,343 | €0 | -€1,343 | -100% |
| Accrued charges and deferred income | 492/3 | - | €847 | +€847 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €967 | €795 | -€173 | -17.8% |
| Other operating charges | 640/8 | €595 | €1,061 | +€466 | +78.4% |
| Non-recurring operating charges | 66A | €7,200 | €686 | -€6,514 | -90.5% |
| Gross operating margin | 9900 | €9,897 | €9,861 | -€36 | -0.4% |
| Operating profit (loss) | 9901 | €1,135 | €7,320 | +€6,184 | +545% |
| Financial income | 75/76B | €6 | €54 | +€48 | +820% |
| Recurring financial income | 75 | €6 | €54 | +€48 | +820% |
| Financial charges | 65/66B | €2,121 | €261 | -€1,860 | -87.7% |
| Recurring financial charges | 65 | €2,121 | €261 | -€1,860 | -87.7% |
| Profit (loss) for the period before taxes | 9903 | -€980 | €7,113 | +€8,093 | |
| Income taxes | 67/77 | €894 | €1,762 | +€868 | +97.1% |
| Profit (loss) for the period | 9904 | -€1,874 | €5,351 | +€7,225 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,874 | €5,351 | +€7,225 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.