SHARK'S EXECUTIVE: 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'S EXECUTIVE
Largest movements
- Tangible fixed assets +€314,181
up €314,181 (+11.1%), from €2.8m to €3.1m
of which Land and buildings: +€338,239
- Cash +€76,418
up €76,418 (+4.8%), from €1.6m to €1.7m
mainly Net result for the year (+€331,280) and Depreciation (+€112,642)
- Reserves +€291,280
up €291,280 (+6.6%), from €4.4m to €4.7m
of which Distributable reserves: +€291,280
- Other debts +€74,230
up €74,230 (+17,044%), from €436 to €74,665
- Gross operating margin +€132,097
up €132,097 (+22.8%), from €579,316 to €711,413
- Financial charges +€71,339
up €71,339 (+97.2%), from €73,386 to €144,725
- Depreciation +€18,754
up €18,754 (+20.0%), from €93,888 to €112,642
- Other operating charges +€9,656
up €9,656 (+53.3%), from €18,124 to €27,780
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 | €6,663,518 | €7,055,250 | +€391,732 | +5.9% |
| Fixed assets | 21/28 | €5,025,633 | €5,340,814 | +€315,181 | +6.3% |
| Tangible fixed assets | 22/27 | €2,820,583 | €3,134,764 | +€314,181 | +11.1% |
| Land and buildings | 22 | €2,718,202 | €3,056,441 | +€338,239 | +12.4% |
| Plant, machinery and equipment | 23 | €8,644 | €7,315 | -€1,328 | -15.4% |
| Furniture and vehicles | 24 | €93,738 | €71,008 | -€22,730 | -24.2% |
| Financial fixed assets | 28 | €2,205,050 | €2,206,050 | +€1,000 | 0.0% |
| Current assets | 29/58 | €1,637,885 | €1,714,436 | +€76,551 | +4.7% |
| Amounts receivable within one year | 40/41 | €17,532 | €7,293 | -€10,239 | -58.4% |
| Trade receivables | 40 | €17,411 | €5,836 | -€11,575 | -66.5% |
| Other amounts receivable | 41 | €121 | €1,457 | +€1,336 | +1,105% |
| Cash at bank and in hand | 54/58 | €1,606,925 | €1,683,343 | +€76,418 | +4.8% |
| Deferred charges and accrued income | 490/1 | €13,428 | €23,801 | +€10,372 | +77.2% |
| Total equity and liabilities | 10/49 | €6,663,518 | €7,055,250 | +€391,732 | +5.9% |
| Equity | 10/15 | €4,439,328 | €4,730,608 | +€291,280 | +6.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €4,414,328 | €4,705,608 | +€291,280 | +6.6% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €4,393,078 | €4,684,358 | +€291,280 | +6.6% |
| Amounts payable | 17/49 | €2,224,190 | €2,324,642 | +€100,452 | +4.5% |
| Amounts payable after more than one year | 17 | €2,063,011 | €2,111,220 | +€48,209 | +2.3% |
| Financial debts | 170/4 | €176,666 | €131,666 | -€45,000 | -25.5% |
| Other amounts payable | 178/9 | €1,886,344 | €1,979,554 | +€93,210 | +4.9% |
| Amounts payable within one year | 42/48 | €161,132 | €211,622 | +€50,491 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €45,000 | -€5,000 | -10.0% |
| Trade debts | 44 | €365 | €3,625 | +€3,261 | +894% |
| Suppliers | 440/4 | €365 | €3,625 | +€3,261 | +894% |
| Taxes, remuneration and social security | 45 | €110,331 | €88,332 | -€22,000 | -19.9% |
| Taxes | 450/3 | €110,331 | €88,332 | -€22,000 | -19.9% |
| Other amounts payable | 47/48 | €436 | €74,665 | +€74,230 | +17,044% |
| Accrued charges and deferred income | 492/3 | €48 | €1,800 | +€1,752 | +3,641% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,888 | €112,642 | +€18,754 | +20.0% |
| Other operating charges | 640/8 | €18,124 | €27,780 | +€9,656 | +53.3% |
| Gross operating margin | 9900 | €579,316 | €711,413 | +€132,097 | +22.8% |
| Operating profit (loss) | 9901 | €467,304 | €570,991 | +€103,687 | +22.2% |
| Financial income | 75/76B | €104 | - | -€104 | |
| Recurring financial income | 75 | €104 | - | -€104 | |
| Financial charges | 65/66B | €73,386 | €144,725 | +€71,339 | +97.2% |
| Recurring financial charges | 65 | €73,386 | €144,725 | +€71,339 | +97.2% |
| Profit (loss) for the period before taxes | 9903 | €394,022 | €426,266 | +€32,244 | +8.2% |
| Income taxes | 67/77 | €88,902 | €94,986 | +€6,085 | +6.8% |
| Profit (loss) for the period | 9904 | €305,121 | €331,280 | +€26,159 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €305,121 | €331,280 | +€26,159 | +8.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.