SHAPERS: 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.
SHAPERS
Largest movements
- Cash +€96,082
up €96,082 (+1,795%), from €5,351 to €101,433
mainly Other debts (+€94,061) and Current investments (+€47,950)
- Current investments -€47,950
down €47,950 (-41.2%), from €116,515 to €68,565
- Receivables within one year -€18,678
down €18,678 (-18.1%), from €103,238 to €84,560
of which Trade receivables: -€34,446
- Tangible fixed assets -€4,103
down €4,103 (-22.3%), from €18,359 to €14,256
of which Plant, machinery and equipment: -€2,372
- Other debts +€94,061
up €94,061 (+5,307%), from €1,772 to €95,833
- Reserves -€68,085
down €68,085 (-32.2%), from €211,703 to €143,617
- Trade debts -€4,565
down €4,565 (-65.2%), from €7,001 to €2,436
- Tax, wage and social debts +€3,378
up €3,378 (+19.5%), from €17,349 to €20,727
- Gross operating margin -€15,650
down €15,650 (-23.4%), from €66,965 to €51,315
- Financial income +€4,125
up €4,125 (+632%), from €653 to €4,778
- Taxes -€3,561
down €3,561 (-22.7%), from €15,685 to €12,124
- Depreciation +€1,266
up €1,266 (+16.8%), from €7,529 to €8,795
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 | €244,025 | €268,814 | +€24,789 | +10.2% |
| Fixed assets | 21/28 | €18,359 | €14,256 | -€4,103 | -22.3% |
| Tangible fixed assets | 22/27 | €18,359 | €14,256 | -€4,103 | -22.3% |
| Plant, machinery and equipment | 23 | €14,841 | €12,469 | -€2,372 | -16.0% |
| Furniture and vehicles | 24 | €3,518 | €1,787 | -€1,732 | -49.2% |
| Current assets | 29/58 | €225,666 | €254,558 | +€28,892 | +12.8% |
| Amounts receivable within one year | 40/41 | €103,238 | €84,560 | -€18,678 | -18.1% |
| Trade receivables | 40 | €102,735 | €68,289 | -€34,446 | -33.5% |
| Other amounts receivable | 41 | €503 | €16,271 | +€15,768 | +3,134% |
| Current investments | 50/53 | €116,515 | €68,565 | -€47,950 | -41.2% |
| Cash at bank and in hand | 54/58 | €5,351 | €101,433 | +€96,082 | +1,795% |
| Deferred charges and accrued income | 490/1 | €561 | - | -€561 | |
| Total equity and liabilities | 10/49 | €244,025 | €268,814 | +€24,789 | +10.2% |
| Equity | 10/15 | €217,903 | €149,817 | -€68,085 | -31.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €211,703 | €143,617 | -€68,085 | -32.2% |
| Distributable reserves | 133 | €211,703 | €143,617 | -€68,085 | -32.2% |
| Amounts payable | 17/49 | €26,122 | €118,997 | +€92,874 | +356% |
| Amounts payable within one year | 42/48 | €26,122 | €118,997 | +€92,874 | +356% |
| Trade debts | 44 | €7,001 | €2,436 | -€4,565 | -65.2% |
| Suppliers | 440/4 | €7,001 | €2,436 | -€4,565 | -65.2% |
| Taxes, remuneration and social security | 45 | €17,349 | €20,727 | +€3,378 | +19.5% |
| Taxes | 450/3 | €17,349 | €20,727 | +€3,378 | +19.5% |
| Other amounts payable | 47/48 | €1,772 | €95,833 | +€94,061 | +5,307% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,529 | €8,795 | +€1,266 | +16.8% |
| Other operating charges | 640/8 | €485 | €833 | +€348 | +71.7% |
| Gross operating margin | 9900 | €66,965 | €51,315 | -€15,650 | -23.4% |
| Operating profit (loss) | 9901 | €58,950 | €41,686 | -€17,264 | -29.3% |
| Financial income | 75/76B | €653 | €4,778 | +€4,125 | +632% |
| Recurring financial income | 75 | €653 | €4,778 | +€4,125 | +632% |
| Financial charges | 65/66B | €817 | €458 | -€359 | -44.0% |
| Recurring financial charges | 65 | €817 | €458 | -€359 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €58,786 | €46,007 | -€12,779 | -21.7% |
| Income taxes | 67/77 | €15,685 | €12,124 | -€3,561 | -22.7% |
| Profit (loss) for the period | 9904 | €43,101 | €33,883 | -€9,218 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,101 | €33,883 | -€9,218 | -21.4% |
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 16 October 2026 via checked.be.