SHANSA: 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.
SHANSA
Largest movements
- Receivables within one year -€41,230
no longer reported in 2025 (was €41,230)
of which Trade receivables: -€38,291
- Stocks and contracts -€2,390
down €2,390 (-65.5%), from €3,650 to €1,260
- Cash +€2,044
up €2,044 (+77.4%), from €2,640 to €4,683
mainly Receivables within one year (+€41,230) and Net result for the year (+€8,882)
- Advances received -€37,366
no longer reported in 2025 (was €37,366)
- Trade debts -€13,699
down €13,699 (-84.9%), from €16,132 to €2,432
- Profit (loss) carried forward +€8,882
up €8,882 (+42.0%), from -€21,133 to -€12,251
- Tax, wage and social debts +€559
new in 2025: €559
- Gross operating margin -€1,476
down €1,476 (-12.7%), from €11,618 to €10,142
- Depreciation -€800
down €800 (-84.9%), from €942 to €142
- Taxes -€554
no longer reported in 2025 (was €554)
- Other operating charges +€396
up €396 (+89.0%), from €445 to €841
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 | €48,161 | €6,443 | -€41,718 | -86.6% |
| Fixed assets | 21/28 | €642 | €500 | -€142 | -22.1% |
| Tangible fixed assets | 22/27 | €142 | - | -€142 | |
| Furniture and vehicles | 24 | €142 | - | -€142 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €47,519 | €5,943 | -€41,576 | -87.5% |
| Stocks and contracts in progress | 3 | €3,650 | €1,260 | -€2,390 | -65.5% |
| Stocks | 30/36 | €3,650 | €1,260 | -€2,390 | -65.5% |
| Amounts receivable within one year | 40/41 | €41,230 | - | -€41,230 | |
| Trade receivables | 40 | €38,291 | - | -€38,291 | |
| Other amounts receivable | 41 | €2,939 | - | -€2,939 | |
| Cash at bank and in hand | 54/58 | €2,640 | €4,683 | +€2,044 | +77.4% |
| Total equity and liabilities | 10/49 | €48,161 | €6,443 | -€41,718 | -86.6% |
| Equity | 10/15 | -€5,430 | €3,452 | +€8,882 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €9,503 | €9,503 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €7,643 | €7,643 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,133 | -€12,251 | +€8,882 | +42.0% |
| Amounts payable | 17/49 | €53,592 | €2,992 | -€50,600 | -94.4% |
| Amounts payable within one year | 42/48 | €53,592 | €2,992 | -€50,600 | -94.4% |
| Trade debts | 44 | €16,132 | €2,432 | -€13,699 | -84.9% |
| Suppliers | 440/4 | €16,132 | €2,432 | -€13,699 | -84.9% |
| Advances received on contracts in progress | 46 | €37,366 | - | -€37,366 | |
| Taxes, remuneration and social security | 45 | - | €559 | +€559 | |
| Taxes | 450/3 | - | €559 | +€559 | |
| Other amounts payable | 47/48 | €94 | - | -€94 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €942 | €142 | -€800 | -84.9% |
| Other operating charges | 640/8 | €445 | €841 | +€396 | +89.0% |
| Gross operating margin | 9900 | €11,618 | €10,142 | -€1,476 | -12.7% |
| Operating profit (loss) | 9901 | €10,231 | €9,159 | -€1,072 | -10.5% |
| Financial charges | 65/66B | €189 | €277 | +€88 | +46.6% |
| Recurring financial charges | 65 | €189 | €277 | +€88 | +46.6% |
| Profit (loss) for the period before taxes | 9903 | €10,042 | €8,882 | -€1,160 | -11.5% |
| Income taxes | 67/77 | €554 | - | -€554 | |
| Profit (loss) for the period | 9904 | €9,488 | €8,882 | -€605 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,488 | €8,882 | -€605 | -6.4% |
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 7 October 2026 via checked.be.