SHANNON: 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.
SHANNON
Largest movements
- Tangible fixed assets -€51,405
down €51,405 (-6.7%), from €768,129 to €716,724
- Reserves -€33,300
down €33,300 (-4.5%), from €739,080 to €705,780
of which Tax-exempt reserves: -€33,300
- Provisions -€11,000
down €11,000 (-11.0%), from €100,000 to €89,000
- Turnover +€491
new in 2025: €491
- Gross operating margin +€491
up €491 (+4.3%), from €11,345 to €11,836
- Purchases and services +€407
up €407 (+6.4%), from €6,400 to €6,807
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 | €986,901 | €946,322 | -€40,580 | -4.1% |
| Fixed assets | 21/28 | €768,129 | €716,724 | -€51,405 | -6.7% |
| Tangible fixed assets | 22/27 | €768,129 | €716,724 | -€51,405 | -6.7% |
| Land and buildings | 22 | €768,129 | €716,724 | -€51,405 | -6.7% |
| Current assets | 29/58 | €218,772 | €229,597 | +€10,825 | +4.9% |
| Amounts receivable within one year | 40/41 | €61,560 | €60,594 | -€966 | -1.6% |
| Trade receivables | 40 | €1,560 | €594 | -€966 | -61.9% |
| Other amounts receivable | 41 | €60,000 | €60,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €157,212 | €164,272 | +€7,060 | +4.5% |
| Deferred charges and accrued income | 490/1 | - | €4,731 | +€4,731 | |
| Total equity and liabilities | 10/49 | €986,901 | €946,322 | -€40,580 | -4.1% |
| Equity | 10/15 | €885,787 | €857,218 | -€28,569 | -3.2% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €739,080 | €705,780 | -€33,300 | -4.5% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €300,000 | €266,700 | -€33,300 | -11.1% |
| Distributable reserves | 133 | €431,080 | €431,080 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,707 | €71,438 | +€4,731 | +7.1% |
| Provisions and deferred taxes | 16 | €100,000 | €89,000 | -€11,000 | -11.0% |
| Deferred taxes | 168 | €100,000 | €89,000 | -€11,000 | -11.0% |
| Amounts payable | 17/49 | €1,114 | €103 | -€1,011 | -90.7% |
| Amounts payable within one year | 42/48 | €1,114 | €103 | -€1,011 | -90.7% |
| Taxes, remuneration and social security | 45 | - | €103 | +€103 | |
| Taxes | 450/3 | - | €103 | +€103 | |
| Other amounts payable | 47/48 | €1,114 | - | -€1,114 | |
| Turnover | 70 | - | €491 | +€491 | |
| Goods, raw materials, services and sundry goods | 60/61 | €6,400 | €6,807 | +€407 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,405 | €51,405 | = | 0.0% |
| Gross operating margin | 9900 | €11,345 | €11,836 | +€491 | +4.3% |
| Operating profit (loss) | 9901 | -€40,060 | -€39,569 | +€491 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | -€40,060 | -€39,569 | +€491 | +1.2% |
| Transfer from deferred taxes | 780 | €11,000 | €11,000 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€29,060 | -€28,569 | +€491 | +1.7% |
| Transfer from tax-exempt reserves | 789 | €33,300 | €33,300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,240 | €4,731 | +€491 | +11.6% |
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 4 October 2026 via checked.be.