SHAPU: 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.
SHAPU
Largest movements
- Cash -€11,987
down €11,987 (-74.8%), from €16,024 to €4,037
mainly Tax, wage and social debts (-€14,568) and Net result for the year (-€10,162)
- Receivables within one year -€6,941
down €6,941 (-15.8%), from €43,809 to €36,868
- Tax, wage and social debts -€14,568
down €14,568 (-57.0%), from €25,573 to €11,006
- Profit (loss) carried forward -€10,162
down €10,162 (-33.2%), from €30,644 to €20,482
- Trade debts +€2,837
up €2,837 (+131%), from €2,158 to €4,995
- Other debts +€2,053
up €2,053 (+482%), from €426 to €2,479
- Financial charges -€3,996
down €3,996 (-91.4%), from €4,374 to €377
- Gross operating margin -€3,278
down €3,278 (-60.3%), from -€5,432 to -€8,711
- Other operating charges +€678
new in 2025: €678
- Taxes -€160
down €160 (-100%), from €160 to €0
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 | €61,301 | €41,462 | -€19,839 | -32.4% |
| Fixed assets | 21/28 | €952 | €556 | -€396 | -41.6% |
| Intangible fixed assets | 21 | €404 | €354 | -€50 | -12.4% |
| Tangible fixed assets | 22/27 | €548 | €202 | -€346 | -63.1% |
| Plant, machinery and equipment | 23 | €548 | €202 | -€346 | -63.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €60,349 | €40,905 | -€19,443 | -32.2% |
| Amounts receivable within one year | 40/41 | €43,809 | €36,868 | -€6,941 | -15.8% |
| Trade receivables | 40 | €43,809 | €36,868 | -€6,941 | -15.8% |
| Cash at bank and in hand | 54/58 | €16,024 | €4,037 | -€11,987 | -74.8% |
| Deferred charges and accrued income | 490/1 | €515 | €0 | -€515 | -100% |
| Total equity and liabilities | 10/49 | €61,301 | €41,462 | -€19,839 | -32.4% |
| Equity | 10/15 | €33,144 | €22,982 | -€10,162 | -30.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,644 | €20,482 | -€10,162 | -33.2% |
| Amounts payable | 17/49 | €28,157 | €18,480 | -€9,677 | -34.4% |
| Amounts payable within one year | 42/48 | €28,157 | €18,480 | -€9,677 | -34.4% |
| Trade debts | 44 | €2,158 | €4,995 | +€2,837 | +131% |
| Suppliers | 440/4 | €2,158 | €4,995 | +€2,837 | +131% |
| Taxes, remuneration and social security | 45 | €25,573 | €11,006 | -€14,568 | -57.0% |
| Taxes | 450/3 | €25,573 | €11,006 | -€14,568 | -57.0% |
| Other amounts payable | 47/48 | €426 | €2,479 | +€2,053 | +482% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €396 | €396 | = | 0.0% |
| Other operating charges | 640/8 | - | €678 | +€678 | |
| Gross operating margin | 9900 | -€5,432 | -€8,711 | -€3,278 | -60.3% |
| Operating profit (loss) | 9901 | -€5,828 | -€9,785 | -€3,957 | -67.9% |
| Financial income | 75/76B | €59 | €0 | -€59 | -100% |
| Recurring financial income | 75 | €59 | €0 | -€59 | -100% |
| Financial charges | 65/66B | €4,374 | €377 | -€3,996 | -91.4% |
| Recurring financial charges | 65 | €4,374 | €377 | -€3,996 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,142 | -€10,162 | -€20 | -0.2% |
| Income taxes | 67/77 | €160 | €0 | -€160 | -100% |
| Profit (loss) for the period | 9904 | -€10,303 | -€10,162 | +€141 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,303 | -€10,162 | +€141 | +1.4% |
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 17 October 2026 via checked.be.