SHANLY: 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.
SHANLY
Largest movements
- Cash -€18,224
down €18,224 (-29.2%), from €62,384 to €44,159
mainly Net result for the year (-€15,337) and Trade debts (-€5,740)
- Tangible fixed assets -€2,110
down €2,110 (-72.7%), from €2,904 to €794
- Profit (loss) carried forward -€15,109
new in 2025: -€15,109
- Trade debts -€5,740
down €5,740 (-67.6%), from €8,487 to €2,748
- Tax, wage and social debts +€2,158
up €2,158 (+30.8%), from €7,007 to €9,165
of which Remuneration and social security: +€2,189
- Other debts -€1,337
down €1,337 (-16.5%), from €8,108 to €6,771
- Financial charges +€38,619
up €38,619 (+909%), from €4,247 to €42,866
- Staff costs +€23,999
up €23,999 (+220%), from €10,896 to €34,895
- Gross operating margin +€13,973
up €13,973 (+26.0%), from €53,738 to €67,711
- Taxes -€9,070
no longer reported in 2025 (was €9,070)
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 | €117,027 | €96,771 | -€20,256 | -17.3% |
| Fixed assets | 21/28 | €8,854 | €6,744 | -€2,110 | -23.8% |
| Tangible fixed assets | 22/27 | €2,904 | €794 | -€2,110 | -72.7% |
| Plant, machinery and equipment | 23 | €801 | €572 | -€229 | -28.6% |
| Furniture and vehicles | 24 | €908 | - | -€908 | |
| Other tangible fixed assets | 26 | €1,195 | €222 | -€972 | -81.4% |
| Financial fixed assets | 28 | €5,949 | €5,949 | = | 0.0% |
| Current assets | 29/58 | €108,174 | €90,028 | -€18,146 | -16.8% |
| Stocks and contracts in progress | 3 | €41,459 | €41,121 | -€338 | -0.8% |
| Stocks | 30/36 | €41,459 | €41,121 | -€338 | -0.8% |
| Amounts receivable within one year | 40/41 | €1,431 | €2,497 | +€1,066 | +74.5% |
| Trade receivables | 40 | - | €432 | +€432 | |
| Other amounts receivable | 41 | €1,431 | €2,065 | +€635 | +44.3% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,384 | €44,159 | -€18,224 | -29.2% |
| Deferred charges and accrued income | 490/1 | €2,400 | €1,750 | -€650 | -27.1% |
| Total equity and liabilities | 10/49 | €117,027 | €96,771 | -€20,256 | -17.3% |
| Equity | 10/15 | €93,425 | €78,087 | -€15,337 | -16.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €74,833 | €74,604 | -€229 | -0.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €555 | €555 | = | 0.0% |
| Distributable reserves | 133 | €72,419 | €72,190 | -€229 | -0.3% |
| Profit (loss) carried forward | 14 | - | -€15,109 | -€15,109 | |
| Amounts payable | 17/49 | €23,603 | €18,684 | -€4,918 | -20.8% |
| Amounts payable within one year | 42/48 | €23,603 | €18,684 | -€4,918 | -20.8% |
| Trade debts | 44 | €8,487 | €2,748 | -€5,740 | -67.6% |
| Suppliers | 440/4 | €8,487 | €2,748 | -€5,740 | -67.6% |
| Taxes, remuneration and social security | 45 | €7,007 | €9,165 | +€2,158 | +30.8% |
| Taxes | 450/3 | €4,101 | €4,070 | -€31 | -0.7% |
| Remuneration and social security | 454/9 | €2,906 | €5,095 | +€2,189 | +75.3% |
| Other amounts payable | 47/48 | €8,108 | €6,771 | -€1,337 | -16.5% |
| Remuneration, social security and pensions | 62 | €10,896 | €34,895 | +€23,999 | +220% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,550 | €2,110 | -€440 | -17.3% |
| Other operating charges | 640/8 | €2,614 | €3,177 | +€563 | +21.5% |
| Gross operating margin | 9900 | €53,738 | €67,711 | +€13,973 | +26.0% |
| Operating profit (loss) | 9901 | €37,678 | €27,529 | -€10,149 | -26.9% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €4,247 | €42,866 | +€38,619 | +909% |
| Recurring financial charges | 65 | €4,247 | €42,866 | +€38,619 | +909% |
| Profit (loss) for the period before taxes | 9903 | €33,437 | -€15,337 | -€48,775 | |
| Income taxes | 67/77 | €9,070 | - | -€9,070 | |
| Profit (loss) for the period | 9904 | €24,368 | -€15,337 | -€39,705 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,368 | -€15,337 | -€39,705 |
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 18 October 2026 via checked.be.