SHARK: 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.
SHARK
Largest movements
- Cash +€35,440
up €35,440 (+623%), from €5,691 to €41,131
mainly Trade debts (+€41,258) and Current portion of long-term debt (+€13,923)
- Tangible fixed assets +€25,313
up €25,313 (+6.8%), from €370,971 to €396,284
of which Furniture and vehicles: +€35,165
- Stocks and contracts +€23,645
new in 2025: €23,645
- Trade debts +€41,258
up €41,258 (+656%), from €6,291 to €47,548
- Current portion of long-term debt +€13,923
up €13,923 (+92.9%), from €14,982 to €28,904
- Debts after one year +€12,194
up €12,194 (+4.5%), from €268,813 to €281,007
of which Financial debts: +€19,920
- Advances received +€7,024
new in 2025: €7,024
- Tax, wage and social debts +€5,422
up €5,422 (+96.8%), from €5,602 to €11,024
of which Taxes: +€5,422
- Gross operating margin +€29,582
up €29,582, from -€6,112 to €23,470
- Depreciation +€1,830
up €1,830 (+15.8%), from €11,578 to €13,408
- Financial charges +€1,213
up €1,213 (+17.8%), from €6,815 to €8,028
- Financial income +€635
up €635 (+2,306%), from €28 to €662
- Other operating charges +€525
up €525 (+37.9%), from €1,385 to €1,910
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 | €381,126 | €464,029 | +€82,902 | +21.8% |
| Fixed assets | 21/28 | €370,971 | €396,284 | +€25,313 | +6.8% |
| Tangible fixed assets | 22/27 | €370,971 | €396,284 | +€25,313 | +6.8% |
| Land and buildings | 22 | €130,500 | €130,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €764 | €651 | -€113 | -14.8% |
| Furniture and vehicles | 24 | - | €35,165 | +€35,165 | |
| Other tangible fixed assets | 26 | €239,708 | €229,968 | -€9,740 | -4.1% |
| Current assets | 29/58 | €10,155 | €67,745 | +€57,590 | +567% |
| Stocks and contracts in progress | 3 | - | €23,645 | +€23,645 | |
| Stocks | 30/36 | - | €23,645 | +€23,645 | |
| Amounts receivable within one year | 40/41 | €1,965 | €1,399 | -€566 | -28.8% |
| Trade receivables | 40 | €1,965 | €1,399 | -€566 | -28.8% |
| Cash at bank and in hand | 54/58 | €5,691 | €41,131 | +€35,440 | +623% |
| Deferred charges and accrued income | 490/1 | €2,499 | €1,570 | -€929 | -37.2% |
| Total equity and liabilities | 10/49 | €381,126 | €464,029 | +€82,902 | +21.8% |
| Equity | 10/15 | €78,296 | €78,804 | +€508 | +0.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €130,100 | €130,100 | = | 0.0% |
| Distributable reserves | 133 | €130,100 | €130,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,804 | -€61,296 | +€508 | +0.8% |
| Amounts payable | 17/49 | €302,830 | €385,225 | +€82,394 | +27.2% |
| Amounts payable after more than one year | 17 | €268,813 | €281,007 | +€12,194 | +4.5% |
| Financial debts | 170/4 | €231,452 | €251,372 | +€19,920 | +8.6% |
| Other amounts payable | 178/9 | €37,361 | €29,635 | -€7,726 | -20.7% |
| Amounts payable within one year | 42/48 | €26,874 | €94,501 | +€67,627 | +252% |
| Current portion of amounts payable after more than one year | 42 | €14,982 | €28,904 | +€13,923 | +92.9% |
| Trade debts | 44 | €6,291 | €47,548 | +€41,258 | +656% |
| Suppliers | 440/4 | €6,291 | €47,548 | +€41,258 | +656% |
| Advances received on contracts in progress | 46 | - | €7,024 | +€7,024 | |
| Taxes, remuneration and social security | 45 | €5,602 | €11,024 | +€5,422 | +96.8% |
| Taxes | 450/3 | €3,602 | €9,024 | +€5,422 | +151% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,144 | €9,717 | +€2,574 | +36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,578 | €13,408 | +€1,830 | +15.8% |
| Other operating charges | 640/8 | €1,385 | €1,910 | +€525 | +37.9% |
| Gross operating margin | 9900 | -€6,112 | €23,470 | +€29,582 | |
| Operating profit (loss) | 9901 | -€19,075 | €8,152 | +€27,227 | |
| Financial income | 75/76B | €28 | €662 | +€635 | +2,306% |
| Recurring financial income | 75 | €28 | €662 | +€635 | +2,306% |
| Financial charges | 65/66B | €6,815 | €8,028 | +€1,213 | +17.8% |
| Recurring financial charges | 65 | €6,815 | €8,028 | +€1,213 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,862 | €786 | +€26,648 | |
| Income taxes | 67/77 | €293 | €278 | -€15 | -5.3% |
| Profit (loss) for the period | 9904 | -€26,155 | €508 | +€26,664 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,155 | €508 | +€26,664 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.