SHARDANA: what changed
SHARDANA
Largest movements
- Tangible fixed assets -€7,499
down €7,499 (-35.5%), from €21,125 to €13,626
of which Plant, machinery and equipment: -€4,722
- Stocks and contracts -€5,114
no longer reported in 2025 (was €5,114)
- Cash +€2,862
up €2,862 (+98.5%), from €2,904 to €5,766
mainly Net result for the year (+€30,676) and Depreciation (+€8,681)
- Financial fixed assets -€2,050
down €2,050 (-85.5%), from €2,399 to €349
- Other debts -€39,468
down €39,468 (-82.2%), from €48,011 to €8,543
- Profit (loss) carried forward +€30,676
up €30,676 (+82.4%), from -€37,213 to -€6,537
- Current portion of long-term debt -€3,147
no longer reported in 2025 (was €3,147)
- Trade debts +€397
up €397 (+18.6%), from €2,135 to €2,532
- Gross operating margin +€47,123
up €47,123 (+298%), from €15,795 to €62,918
- Staff costs -€5,418
down €5,418 (-19.9%), from €27,161 to €21,743
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,542 | €19,741 | -€11,801 | -37.4% |
| Fixed assets | 21/28 | €23,524 | €13,975 | -€9,549 | -40.6% |
| Tangible fixed assets | 22/27 | €21,125 | €13,626 | -€7,499 | -35.5% |
| Plant, machinery and equipment | 23 | €11,775 | €7,053 | -€4,722 | -40.1% |
| Furniture and vehicles | 24 | €9,350 | €6,573 | -€2,777 | -29.7% |
| Financial fixed assets | 28 | €2,399 | €349 | -€2,050 | -85.5% |
| Current assets | 29/58 | €8,018 | €5,766 | -€2,252 | -28.1% |
| Stocks and contracts in progress | 3 | €5,114 | - | -€5,114 | |
| Stocks | 30/36 | €5,114 | - | -€5,114 | |
| Cash at bank and in hand | 54/58 | €2,904 | €5,766 | +€2,862 | +98.5% |
| Total equity and liabilities | 10/49 | €31,542 | €19,741 | -€11,801 | -37.4% |
| Equity | 10/15 | -€22,213 | €8,463 | +€30,676 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,213 | -€6,537 | +€30,676 | +82.4% |
| Amounts payable | 17/49 | €53,755 | €11,277 | -€42,477 | -79.0% |
| Amounts payable within one year | 42/48 | €53,755 | €11,277 | -€42,477 | -79.0% |
| Current portion of amounts payable after more than one year | 42 | €3,147 | - | -€3,147 | |
| Trade debts | 44 | €2,135 | €2,532 | +€397 | +18.6% |
| Suppliers | 440/4 | €2,135 | €2,532 | +€397 | +18.6% |
| Taxes, remuneration and social security | 45 | €461 | €202 | -€259 | -56.2% |
| Taxes | 450/3 | €114 | €202 | +€89 | +78.0% |
| Remuneration and social security | 454/9 | €348 | - | -€348 | |
| Other amounts payable | 47/48 | €48,011 | €8,543 | -€39,468 | -82.2% |
| Remuneration, social security and pensions | 62 | €27,161 | €21,743 | -€5,418 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,962 | €8,681 | -€281 | -3.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €2,787 | - | -€2,787 | |
| Gross operating margin | 9900 | €15,795 | €62,918 | +€47,123 | +298% |
| Operating profit (loss) | 9901 | -€23,501 | €32,095 | +€55,596 | |
| Financial income | 75/76B | €305 | €271 | -€34 | -11.2% |
| Recurring financial income | 75 | €305 | €271 | -€34 | -11.2% |
| Financial charges | 65/66B | €1,910 | €1,690 | -€220 | -11.5% |
| Recurring financial charges | 65 | €1,910 | €1,690 | -€220 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | -€25,106 | €30,676 | +€55,782 | |
| Profit (loss) for the period | 9904 | -€25,106 | €30,676 | +€55,782 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,106 | €30,676 | +€55,782 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.