SHARED VALUE(S): 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.
SHARED VALUE(S)
Largest movements
- Cash -€31,173
down €31,173 (-74.9%), from €41,618 to €10,445
mainly Net result for the year (-€39,223) and Investment in fixed assets (net) (-€16,247)
- Receivables within one year -€11,045
down €11,045 (-43.0%), from €25,678 to €14,633
of which Trade receivables: -€10,888
- Tangible fixed assets +€5,648
up €5,648 (+17.4%), from €32,549 to €38,197
of which Furniture and vehicles: +€10,118
- Intangible fixed assets -€2,448
down €2,448 (-25.0%), from €9,792 to €7,344
- Deferred charges and accrued income +€1,367
up €1,367 (+33.1%), from €4,124 to €5,491
- Profit (loss) carried forward -€39,223
down €39,223, from €38,763 to -€460
- Trade debts +€1,824
up €1,824 (+27.5%), from €6,643 to €8,467
- Other debts -€1,649
down €1,649 (-24.1%), from €6,849 to €5,200
- Tax, wage and social debts +€1,397
up €1,397 (+191.0%), from €731 to €2,128
- Gross operating margin -€39,953
down €39,953, from €17,512 to -€22,441
- Financial charges -€4,896
down €4,896 (-82.2%), from €5,958 to €1,062
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 | €121,291 | €83,640 | -€37,651 | -31.0% |
| Fixed assets | 21/28 | €49,871 | €53,071 | +€3,200 | +6.4% |
| Intangible fixed assets | 21 | €9,792 | €7,344 | -€2,448 | -25.0% |
| Tangible fixed assets | 22/27 | €32,549 | €38,197 | +€5,648 | +17.4% |
| Land and buildings | 22 | €27,439 | €22,969 | -€4,470 | -16.3% |
| Furniture and vehicles | 24 | €5,110 | €15,228 | +€10,118 | +198.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €7,530 | €7,530 | = | 0.0% |
| Current assets | 29/58 | €71,420 | €30,569 | -€40,851 | -57.2% |
| Amounts receivable within one year | 40/41 | €25,678 | €14,633 | -€11,045 | -43.0% |
| Trade receivables | 40 | €25,521 | €14,633 | -€10,888 | -42.7% |
| Other amounts receivable | 41 | €157 | €0 | -€157 | -100.0% |
| Cash at bank and in hand | 54/58 | €41,618 | €10,445 | -€31,173 | -74.9% |
| Deferred charges and accrued income | 490/1 | €4,124 | €5,491 | +€1,367 | +33.1% |
| Total equity and liabilities | 10/49 | €121,291 | €83,640 | -€37,651 | -31.0% |
| Equity | 10/15 | €107,067 | €67,844 | -€39,223 | -36.6% |
| Contributions | 10/11 | €62,095 | €62,095 | = | 0.0% |
| Capital | 10 | €62,095 | €62,095 | = | 0.0% |
| Issued capital | 100 | €62,095 | €62,095 | = | 0.0% |
| Reserves | 13 | €6,210 | €6,210 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,210 | €6,210 | = | 0.0% |
| Legal reserve | 130 | €6,210 | €6,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,763 | -€460 | -€39,223 | |
| Amounts payable | 17/49 | €14,224 | €15,795 | +€1,572 | +11.0% |
| Amounts payable within one year | 42/48 | €14,224 | €15,795 | +€1,572 | +11.0% |
| Trade debts | 44 | €6,643 | €8,467 | +€1,824 | +27.5% |
| Suppliers | 440/4 | €6,643 | €8,467 | +€1,824 | +27.5% |
| Taxes, remuneration and social security | 45 | €731 | €2,128 | +€1,397 | +191.0% |
| Taxes | 450/3 | €731 | €2,128 | +€1,397 | +191.0% |
| Other amounts payable | 47/48 | €6,849 | €5,200 | -€1,649 | -24.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €6,362 | €0 | -€6,362 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,233 | €13,047 | -€186 | -1.4% |
| Other operating charges | 640/8 | €2,480 | €2,361 | -€119 | -4.8% |
| Non-recurring operating charges | 66A | €3,700 | - | -€3,700 | |
| Gross operating margin | 9900 | €17,512 | -€22,441 | -€39,953 | |
| Operating profit (loss) | 9901 | -€1,901 | -€37,849 | -€35,948 | -1890.7% |
| Financial income | 75/76B | €84 | €58 | -€26 | -30.8% |
| Recurring financial income | 75 | €84 | €58 | -€26 | -30.8% |
| Financial charges | 65/66B | €5,958 | €1,062 | -€4,896 | -82.2% |
| Recurring financial charges | 65 | €5,958 | €1,062 | -€4,896 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,775 | -€38,852 | -€31,077 | -399.7% |
| Income taxes | 67/77 | €309 | €371 | +€62 | +20.0% |
| Profit (loss) for the period | 9904 | -€8,084 | -€39,223 | -€31,139 | -385.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,084 | -€39,223 | -€31,139 | -385.2% |
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 5 October 2026 via checked.be.