SHANO: 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.
SHANO
Largest movements
- Cash -€19,749
down €19,749 (-37.9%), from €52,041 to €32,293
mainly Contributions, distributions and other (-€22,724) and Investment in fixed assets (net) (-€11,109)
- Tangible fixed assets +€9,136
up €9,136 (+2,190%), from €417 to €9,553
of which Furniture and vehicles: +€9,136
- Receivables within one year -€1,264
down €1,264 (-10.1%), from €12,516 to €11,252
of which Trade receivables: -€1,186
- Profit (loss) carried forward -€22,724
down €22,724 (-72.0%), from €31,547 to €8,822
- Reserves +€5,669
up €5,669 (+12.6%), from €44,896 to €50,565
- Tax, wage and social debts +€3,063
up €3,063 (+25.0%), from €12,247 to €15,310
of which Remuneration and social security: +€6,817
- Trade debts +€2,116
up €2,116 (+309%), from €685 to €2,801
- Taxes -€10,592
down €10,592 (-80.2%), from €13,205 to €2,613
- Gross operating margin -€2,573
down €2,573 (-18.8%), from €13,664 to €11,090
- Depreciation +€1,283
up €1,283 (+186%), from €689 to €1,973
- Financial charges -€559
down €559 (-74.5%), from €750 to €191
- Other operating charges +€301
up €301 (+87.1%), from €345 to €646
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 | €107,974 | €96,098 | -€11,876 | -11.0% |
| Fixed assets | 21/28 | €417 | €9,553 | +€9,136 | +2,190% |
| Tangible fixed assets | 22/27 | €417 | €9,553 | +€9,136 | +2,190% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €417 | €9,553 | +€9,136 | +2,190% |
| Current assets | 29/58 | €107,557 | €86,545 | -€21,012 | -19.5% |
| Amounts receivable after more than one year | 29 | €43,000 | €43,000 | = | 0.0% |
| Other amounts receivable | 291 | €43,000 | €43,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,516 | €11,252 | -€1,264 | -10.1% |
| Trade receivables | 40 | €9,051 | €7,865 | -€1,186 | -13.1% |
| Other amounts receivable | 41 | €3,465 | €3,387 | -€78 | -2.2% |
| Cash at bank and in hand | 54/58 | €52,041 | €32,293 | -€19,749 | -37.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €107,974 | €96,098 | -€11,876 | -11.0% |
| Equity | 10/15 | €95,043 | €77,988 | -€17,055 | -17.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,896 | €50,565 | +€5,669 | +12.6% |
| Distributable reserves | 133 | €44,896 | €50,565 | +€5,669 | +12.6% |
| Profit (loss) carried forward | 14 | €31,547 | €8,822 | -€22,724 | -72.0% |
| Amounts payable | 17/49 | €12,932 | €18,110 | +€5,179 | +40.0% |
| Amounts payable within one year | 42/48 | €12,932 | €18,110 | +€5,179 | +40.0% |
| Trade debts | 44 | €685 | €2,801 | +€2,116 | +309% |
| Suppliers | 440/4 | €685 | €2,801 | +€2,116 | +309% |
| Taxes, remuneration and social security | 45 | €12,247 | €15,310 | +€3,063 | +25.0% |
| Taxes | 450/3 | €10,104 | €6,349 | -€3,755 | -37.2% |
| Remuneration and social security | 454/9 | €2,143 | €8,961 | +€6,817 | +318% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €689 | €1,973 | +€1,283 | +186% |
| Other operating charges | 640/8 | €345 | €646 | +€301 | +87.1% |
| Gross operating margin | 9900 | €13,664 | €11,090 | -€2,573 | -18.8% |
| Operating profit (loss) | 9901 | €12,629 | €8,472 | -€4,157 | -32.9% |
| Financial income | 75/76B | €142 | €1 | -€141 | -99.0% |
| Recurring financial income | 75 | €142 | €1 | -€141 | -99.0% |
| Financial charges | 65/66B | €750 | €191 | -€559 | -74.5% |
| Recurring financial charges | 65 | €750 | €191 | -€559 | -74.5% |
| Profit (loss) for the period before taxes | 9903 | €12,021 | €8,282 | -€3,739 | -31.1% |
| Income taxes | 67/77 | €13,205 | €2,613 | -€10,592 | -80.2% |
| Profit (loss) for the period | 9904 | -€1,184 | €5,669 | +€6,853 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,184 | €5,669 | +€6,853 |
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.