SHAR: 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.
SHAR
Largest movements
- Cash +€27,097
up €27,097 (+42.7%), from €63,412 to €90,509
mainly Net result for the year (+€16,420) and Tax, wage and social debts (+€8,758)
- Tangible fixed assets -€4,301
down €4,301 (-30.0%), from €14,313 to €10,012
of which Plant, machinery and equipment: -€3,431
- Stocks and contracts +€2,504
up €2,504 (+63.2%), from €3,964 to €6,468
- Profit (loss) carried forward +€13,122
no longer reported in 2025 (was -€13,122)
- Tax, wage and social debts +€8,758
up €8,758 (+107.7%), from €8,130 to €16,889
of which Taxes: +€5,413
- Reserves +€3,297
up €3,297 (+13.2%), from €24,976 to €28,274
of which Distributable reserves: +€3,297
- Trade debts +€1,505
new in 2025: €1,505
- Other debts -€1,383
down €1,383 (-2.3%), from €60,032 to €58,650
- Other operating charges -€14,366
down €14,366 (-51.8%), from €27,726 to €13,360
- Gross operating margin -€11,379
down €11,379 (-11.0%), from €103,193 to €91,814
- Staff costs +€5,599
up €5,599 (+12.3%), from €45,453 to €51,052
- Taxes +€4,610
up €4,610 (+372.0%), from €1,239 to €5,850
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 | €86,217 | €111,517 | +€25,300 | +29.3% |
| Fixed assets | 21/28 | €18,841 | €14,540 | -€4,301 | -22.8% |
| Tangible fixed assets | 22/27 | €14,313 | €10,012 | -€4,301 | -30.0% |
| Plant, machinery and equipment | 23 | €11,171 | €7,740 | -€3,431 | -30.7% |
| Other tangible fixed assets | 26 | €3,143 | €2,273 | -€870 | -27.7% |
| Financial fixed assets | 28 | €4,527 | €4,527 | = | 0.0% |
| Current assets | 29/58 | €67,376 | €96,977 | +€29,601 | +43.9% |
| Stocks and contracts in progress | 3 | €3,964 | €6,468 | +€2,504 | +63.2% |
| Stocks | 30/36 | €3,964 | €6,468 | +€2,504 | +63.2% |
| Cash at bank and in hand | 54/58 | €63,412 | €90,509 | +€27,097 | +42.7% |
| Total equity and liabilities | 10/49 | €86,217 | €111,517 | +€25,300 | +29.3% |
| Equity | 10/15 | €18,054 | €34,474 | +€16,420 | +90.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €24,976 | €28,274 | +€3,297 | +13.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €23,116 | €26,414 | +€3,297 | +14.3% |
| Profit (loss) carried forward | 14 | -€13,122 | - | +€13,122 | |
| Amounts payable | 17/49 | €68,163 | €77,043 | +€8,881 | +13.0% |
| Amounts payable within one year | 42/48 | €68,163 | €77,043 | +€8,881 | +13.0% |
| Trade debts | 44 | - | €1,505 | +€1,505 | |
| Suppliers | 440/4 | - | €1,505 | +€1,505 | |
| Taxes, remuneration and social security | 45 | €8,130 | €16,889 | +€8,758 | +107.7% |
| Taxes | 450/3 | €8,130 | €13,544 | +€5,413 | +66.6% |
| Remuneration and social security | 454/9 | - | €3,345 | +€3,345 | |
| Other amounts payable | 47/48 | €60,032 | €58,650 | -€1,383 | -2.3% |
| Remuneration, social security and pensions | 62 | €45,453 | €51,052 | +€5,599 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,301 | €4,301 | = | 0.0% |
| Other operating charges | 640/8 | €27,726 | €13,360 | -€14,366 | -51.8% |
| Gross operating margin | 9900 | €103,193 | €91,814 | -€11,379 | -11.0% |
| Operating profit (loss) | 9901 | €25,714 | €23,102 | -€2,612 | -10.2% |
| Financial charges | 65/66B | €1,078 | €833 | -€245 | -22.8% |
| Recurring financial charges | 65 | €1,078 | €833 | -€245 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €24,635 | €22,269 | -€2,366 | -9.6% |
| Income taxes | 67/77 | €1,239 | €5,850 | +€4,610 | +372.0% |
| Profit (loss) for the period | 9904 | €23,396 | €16,420 | -€6,977 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,396 | €16,420 | -€6,977 | -29.8% |
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 9 October 2026 via checked.be.