SHARPEN: 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.
SHARPEN
Largest movements
- Cash -€59,964
down €59,964 (-18.4%), from €326,338 to €266,374
mainly Contributions, distributions and other (-€367,180) and Trade debts (-€38,730)
- Tangible fixed assets -€14,275
down €14,275 (-29.8%), from €47,947 to €33,672
- Deferred charges and accrued income -€11,091
down €11,091 (-80.8%), from €13,723 to €2,632
- Reserves -€390,501
down €390,501 (-55.0%), from €710,615 to €320,115
- Other debts +€372,543
up €372,543 (+532.1%), from €70,013 to €442,556
- Trade debts -€38,730
down €38,730 (-26.7%), from €145,262 to €106,531
- Tax, wage and social debts -€20,837
down €20,837 (-49.3%), from €42,241 to €21,404
- Gross operating margin -€11,489
down €11,489, from €4,428 to -€7,060
- Taxes +€5,233
up €5,233 (+1578.0%), from €332 to €5,564
- Financial income +€4,584
up €4,584 (+135.8%), from €3,376 to €7,960
- Other operating charges +€2,068
up €2,068 (+158.7%), from €1,303 to €3,371
- Financial charges +€734
up €734 (+265.5%), from €277 to €1,011
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 | €981,100 | €903,524 | -€77,575 | -7.9% |
| Fixed assets | 21/28 | €47,947 | €33,672 | -€14,275 | -29.8% |
| Tangible fixed assets | 22/27 | €47,947 | €33,672 | -€14,275 | -29.8% |
| Furniture and vehicles | 24 | €47,947 | €33,672 | -€14,275 | -29.8% |
| Current assets | 29/58 | €933,153 | €869,853 | -€63,301 | -6.8% |
| Amounts receivable within one year | 40/41 | €193,092 | €200,846 | +€7,754 | +4.0% |
| Trade receivables | 40 | €190,184 | €195,553 | +€5,370 | +2.8% |
| Other amounts receivable | 41 | €2,908 | €5,293 | +€2,385 | +82.0% |
| Current investments | 50/53 | €400,000 | €400,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €326,338 | €266,374 | -€59,964 | -18.4% |
| Deferred charges and accrued income | 490/1 | €13,723 | €2,632 | -€11,091 | -80.8% |
| Total equity and liabilities | 10/49 | €981,100 | €903,524 | -€77,575 | -7.9% |
| Equity | 10/15 | €723,015 | €332,515 | -€390,501 | -54.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €710,615 | €320,115 | -€390,501 | -55.0% |
| Distributable reserves | 133 | €710,615 | €320,115 | -€390,501 | -55.0% |
| Amounts payable | 17/49 | €258,084 | €571,010 | +€312,925 | +121.2% |
| Amounts payable within one year | 42/48 | €258,084 | €570,810 | +€312,726 | +121.2% |
| Financial debts | 43 | €568 | €318 | -€250 | -44.0% |
| Credit institutions | 430/8 | €568 | €318 | -€250 | -44.0% |
| Trade debts | 44 | €145,262 | €106,531 | -€38,730 | -26.7% |
| Suppliers | 440/4 | €145,262 | €106,531 | -€38,730 | -26.7% |
| Taxes, remuneration and social security | 45 | €42,241 | €21,404 | -€20,837 | -49.3% |
| Taxes | 450/3 | €42,241 | €21,404 | -€20,837 | -49.3% |
| Other amounts payable | 47/48 | €70,013 | €442,556 | +€372,543 | +532.1% |
| Accrued charges and deferred income | 492/3 | - | €200 | +€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,925 | €14,275 | -€650 | -4.4% |
| Other operating charges | 640/8 | €1,303 | €3,371 | +€2,068 | +158.7% |
| Gross operating margin | 9900 | €4,428 | -€7,060 | -€11,489 | |
| Operating profit (loss) | 9901 | -€11,799 | -€24,706 | -€12,906 | -109.4% |
| Financial income | 75/76B | €3,376 | €7,960 | +€4,584 | +135.8% |
| Recurring financial income | 75 | €3,376 | €7,960 | +€4,584 | +135.8% |
| Financial charges | 65/66B | €277 | €1,011 | +€734 | +265.5% |
| Recurring financial charges | 65 | €277 | €1,011 | +€734 | +265.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,700 | -€17,756 | -€9,056 | -104.1% |
| Income taxes | 67/77 | €332 | €5,564 | +€5,233 | +1578.0% |
| Profit (loss) for the period | 9904 | -€9,032 | -€23,321 | -€14,289 | -158.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,032 | -€23,321 | -€14,289 | -158.2% |
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.