SHAPE.BRUSSELS: 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.
SHAPE.BRUSSELS
Largest movements
- Stocks and contracts +€3.0m
new in 2025: €3.0m
- Receivables within one year +€460,499
up €460,499 (+226.5%), from €203,338 to €663,837
of which Trade receivables: +€453,000
- Debts after one year +€2.9m
new in 2025: €2.9m
- Other debts +€490,020
up €490,020 (+243.1%), from €201,605 to €691,624
- Trade debts +€83,689
up €83,689 (+1896.6%), from €4,413 to €88,101
- Financial charges -€21,133
down €21,133 (-55.6%), from €38,004 to €16,871
- Gross operating margin +€6,394
up €6,394, from -€3,127 to €3,267
- Depreciation -€1,304
no longer reported in 2025 (was €1,304)
- Other operating charges -€563
down €563 (-44.9%), from €1,255 to €692
- Financial income -€310
down €310 (-47.0%), from €660 to €350
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 | €235,135 | €3,685,120 | +€3.4m | +1467.2% |
| Fixed assets | 21/28 | €135 | €3,135 | +€3,000 | +2222.2% |
| Financial fixed assets | 28 | €135 | €3,135 | +€3,000 | +2222.2% |
| Current assets | 29/58 | €235,000 | €3,681,985 | +€3.4m | +1466.8% |
| Stocks and contracts in progress | 3 | - | €2,960,057 | +€3.0m | |
| Stocks | 30/36 | - | €2,960,057 | +€3.0m | |
| Amounts receivable within one year | 40/41 | €203,338 | €663,837 | +€460,499 | +226.5% |
| Trade receivables | 40 | €132,169 | €585,169 | +€453,000 | +342.7% |
| Other amounts receivable | 41 | €71,169 | €78,668 | +€7,499 | +10.5% |
| Cash at bank and in hand | 54/58 | €29,600 | €51,266 | +€21,666 | +73.2% |
| Deferred charges and accrued income | 490/1 | €2,062 | €6,824 | +€4,763 | +231.0% |
| Total equity and liabilities | 10/49 | €235,135 | €3,685,120 | +€3.4m | +1467.2% |
| Equity | 10/15 | -€7,617 | -€21,605 | -€13,987 | -183.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,617 | -€51,605 | -€13,987 | -37.2% |
| Amounts payable | 17/49 | €242,752 | €3,706,725 | +€3.5m | +1427.0% |
| Amounts payable after more than one year | 17 | - | €2,926,000 | +€2.9m | |
| Financial debts | 170/4 | - | €2,926,000 | +€2.9m | |
| Amounts payable within one year | 42/48 | €206,147 | €779,725 | +€573,578 | +278.2% |
| Financial debts | 43 | €130 | - | -€130 | |
| Credit institutions | 430/8 | €130 | - | -€130 | |
| Trade debts | 44 | €4,413 | €88,101 | +€83,689 | +1896.6% |
| Suppliers | 440/4 | €4,413 | €88,101 | +€83,689 | +1896.6% |
| Other amounts payable | 47/48 | €201,605 | €691,624 | +€490,020 | +243.1% |
| Accrued charges and deferred income | 492/3 | €36,605 | €999 | -€35,606 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,304 | - | -€1,304 | |
| Other operating charges | 640/8 | €1,255 | €692 | -€563 | -44.9% |
| Gross operating margin | 9900 | -€3,127 | €3,267 | +€6,394 | |
| Operating profit (loss) | 9901 | -€5,686 | €2,576 | +€8,262 | |
| Financial income | 75/76B | €660 | €350 | -€310 | -47.0% |
| Recurring financial income | 75 | €660 | €350 | -€310 | -47.0% |
| Financial charges | 65/66B | €38,004 | €16,871 | -€21,133 | -55.6% |
| Recurring financial charges | 65 | €38,004 | €16,871 | -€21,133 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | -€43,030 | -€13,945 | +€29,085 | +67.6% |
| Income taxes | 67/77 | -€5 | €42 | +€47 | |
| Profit (loss) for the period | 9904 | -€43,025 | -€13,987 | +€29,038 | +67.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,025 | -€13,987 | +€29,038 | +67.5% |
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 8 October 2026 via checked.be.