SHAREZ: 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.
SHAREZ
Largest movements
- Intangible fixed assets -€10,500
down €10,500 (-16.7%), from €62,971 to €52,471
- Cash +€9,244
up €9,244 (+83.6%), from €11,061 to €20,305
mainly Depreciation (+€10,965) and Trade debts (+€10,859)
- Stocks and contracts -€5,513
down €5,513 (-24.6%), from €22,410 to €16,897
- Receivables within one year -€2,633
no longer reported in 2025 (was €2,633)
of which Trade receivables: -€2,291
- Current portion of long-term debt -€19,172
down €19,172 (-67.6%), from €28,344 to €9,172
- Trade debts +€10,859
up €10,859 (+78691.2%), from €14 to €10,873
- Debts after one year -€9,542
no longer reported in 2025 (was €9,542)
- Profit (loss) carried forward +€8,122
up €8,122, from -€1,478 to €6,644
- Gross operating margin -€4,648
down €4,648 (-19.2%), from €24,148 to €19,500
- Financial charges -€785
down €785 (-80.9%), from €971 to €185
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 | €101,097 | €92,634 | -€8,464 | -8.4% |
| Fixed assets | 21/28 | €64,993 | €55,432 | -€9,562 | -14.7% |
| Intangible fixed assets | 21 | €62,971 | €52,471 | -€10,500 | -16.7% |
| Tangible fixed assets | 22/27 | €2,022 | €2,960 | +€938 | +46.4% |
| Plant, machinery and equipment | 23 | - | €1,403 | +€1,403 | |
| Furniture and vehicles | 24 | €2,022 | €1,557 | -€465 | -23.0% |
| Current assets | 29/58 | €36,104 | €37,202 | +€1,098 | +3.0% |
| Stocks and contracts in progress | 3 | €22,410 | €16,897 | -€5,513 | -24.6% |
| Stocks | 30/36 | €22,410 | €16,897 | -€5,513 | -24.6% |
| Amounts receivable within one year | 40/41 | €2,633 | - | -€2,633 | |
| Trade receivables | 40 | €2,291 | - | -€2,291 | |
| Other amounts receivable | 41 | €342 | - | -€342 | |
| Cash at bank and in hand | 54/58 | €11,061 | €20,305 | +€9,244 | +83.6% |
| Total equity and liabilities | 10/49 | €101,097 | €92,634 | -€8,464 | -8.4% |
| Equity | 10/15 | -€478 | €7,644 | +€8,122 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Issued capital | 100 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,478 | €6,644 | +€8,122 | |
| Amounts payable | 17/49 | €101,576 | €84,990 | -€16,586 | -16.3% |
| Amounts payable after more than one year | 17 | €9,542 | - | -€9,542 | |
| Financial debts | 170/4 | €9,542 | - | -€9,542 | |
| Amounts payable within one year | 42/48 | €92,034 | €84,990 | -€7,044 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €28,344 | €9,172 | -€19,172 | -67.6% |
| Trade debts | 44 | €14 | €10,873 | +€10,859 | +78691.2% |
| Suppliers | 440/4 | €14 | €10,873 | +€10,859 | +78691.2% |
| Taxes, remuneration and social security | 45 | €79 | €854 | +€776 | +982.3% |
| Taxes | 450/3 | €79 | €854 | +€776 | +982.3% |
| Other amounts payable | 47/48 | €63,597 | €64,090 | +€493 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,804 | €10,965 | +€161 | +1.5% |
| Gross operating margin | 9900 | €24,148 | €19,500 | -€4,648 | -19.2% |
| Operating profit (loss) | 9901 | €13,344 | €8,535 | -€4,809 | -36.0% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €971 | €185 | -€785 | -80.9% |
| Recurring financial charges | 65 | €971 | €185 | -€785 | -80.9% |
| Profit (loss) for the period before taxes | 9903 | €12,373 | €8,352 | -€4,021 | -32.5% |
| Income taxes | 67/77 | - | €230 | +€230 | |
| Profit (loss) for the period | 9904 | €12,373 | €8,122 | -€4,251 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,373 | €8,122 | -€4,251 | -34.4% |
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 3 October 2026 via checked.be.