SHANRO: 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.
SHANRO
Largest movements
- Tangible fixed assets +€19,224
up €19,224 (+18.6%), from €103,477 to €122,701
of which Land and buildings: +€26,365
- Receivables within one year +€12,699
up €12,699 (+44.7%), from €28,410 to €41,109
of which Other amounts receivable: +€10,026
- Cash +€3,955
up €3,955 (+678.4%), from €583 to €4,538
mainly Net result for the year (+€38,282) and Depreciation (+€12,691)
- Profit (loss) carried forward +€29,282
up €29,282 (+25.1%), from €116,691 to €145,973
- Tax, wage and social debts +€11,288
up €11,288 (+135.6%), from €8,326 to €19,614
- Trade debts -€4,574
down €4,574 (-43.0%), from €10,647 to €6,073
- Gross operating margin +€29,564
up €29,564 (+59.1%), from €50,035 to €79,599
- Taxes +€8,174
up €8,174 (+142.9%), from €5,720 to €13,894
- Other operating charges +€5,917
up €5,917 (+105.7%), from €5,597 to €11,514
- Financial charges -€2,574
down €2,574 (-44.2%), from €5,822 to €3,248
- Depreciation +€911
up €911 (+7.7%), from €11,780 to €12,691
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 | €143,257 | €179,253 | +€35,996 | +25.1% |
| Fixed assets | 21/28 | €112,477 | €131,701 | +€19,224 | +17.1% |
| Tangible fixed assets | 22/27 | €103,477 | €122,701 | +€19,224 | +18.6% |
| Land and buildings | 22 | €53,573 | €79,938 | +€26,365 | +49.2% |
| Furniture and vehicles | 24 | €485 | €203 | -€282 | -58.1% |
| Other tangible fixed assets | 26 | €49,419 | €42,560 | -€6,859 | -13.9% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €30,780 | €47,552 | +€16,772 | +54.5% |
| Amounts receivable within one year | 40/41 | €28,410 | €41,109 | +€12,699 | +44.7% |
| Trade receivables | 40 | €14,877 | €17,550 | +€2,673 | +18.0% |
| Other amounts receivable | 41 | €13,533 | €23,559 | +€10,026 | +74.1% |
| Cash at bank and in hand | 54/58 | €583 | €4,538 | +€3,955 | +678.4% |
| Deferred charges and accrued income | 490/1 | €1,787 | €1,905 | +€118 | +6.6% |
| Total equity and liabilities | 10/49 | €143,257 | €179,253 | +€35,996 | +25.1% |
| Equity | 10/15 | €124,284 | €153,566 | +€29,282 | +23.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,393 | €1,393 | = | 0.0% |
| Distributable reserves | 133 | €1,393 | €1,393 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,691 | €145,973 | +€29,282 | +25.1% |
| Amounts payable | 17/49 | €18,973 | €25,687 | +€6,714 | +35.4% |
| Amounts payable within one year | 42/48 | €18,973 | €25,687 | +€6,714 | +35.4% |
| Trade debts | 44 | €10,647 | €6,073 | -€4,574 | -43.0% |
| Suppliers | 440/4 | €10,647 | €6,073 | -€4,574 | -43.0% |
| Taxes, remuneration and social security | 45 | €8,326 | €19,614 | +€11,288 | +135.6% |
| Taxes | 450/3 | €8,326 | €19,614 | +€11,288 | +135.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,780 | €12,691 | +€911 | +7.7% |
| Other operating charges | 640/8 | €5,597 | €11,514 | +€5,917 | +105.7% |
| Gross operating margin | 9900 | €50,035 | €79,599 | +€29,564 | +59.1% |
| Operating profit (loss) | 9901 | €32,658 | €55,394 | +€22,736 | +69.6% |
| Financial income | 75/76B | €29 | €30 | +€1 | +3.4% |
| Recurring financial income | 75 | €29 | €30 | +€1 | +3.4% |
| Financial charges | 65/66B | €5,822 | €3,248 | -€2,574 | -44.2% |
| Recurring financial charges | 65 | €5,822 | €3,248 | -€2,574 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €26,865 | €52,176 | +€25,311 | +94.2% |
| Income taxes | 67/77 | €5,720 | €13,894 | +€8,174 | +142.9% |
| Profit (loss) for the period | 9904 | €21,145 | €38,282 | +€17,137 | +81.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,145 | €38,282 | +€17,137 | +81.0% |
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 5 October 2026 via checked.be.