Sharwa: 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.
Sharwa
Largest movements
- Receivables within one year +€91,295
up €91,295 (+64.7%), from €141,127 to €232,422
of which Trade receivables: +€79,437
- Tangible fixed assets +€24,643
up €24,643 (+56.3%), from €43,746 to €68,388
of which Leasing and similar rights: +€24,643
- Cash -€11,537
down €11,537 (-79.8%), from €14,462 to €2,925
mainly Receivables within one year (-€91,295) and Contributions, distributions and other (-€73,703)
- Other debts +€56,807
up €56,807 (+169%), from €33,695 to €90,503
- Reserves +€15,505
up €15,505 (+34.0%), from €45,563 to €61,068
- Tax, wage and social debts +€12,997
up €12,997 (+396%), from €3,283 to €16,280
- Profit (loss) carried forward +€12,364
up €12,364, from -€12,364 to €0
- Current portion of long-term debt +€7,052
up €7,052 (+66.1%), from €10,671 to €17,723
- Gross operating margin +€89,713
up €89,713 (+140%), from €64,308 to €154,021
- Taxes +€25,461
up €25,461 (+1,028%), from €2,476 to €27,938
- Depreciation +€6,774
up €6,774 (+55.5%), from €12,208 to €18,982
- Other operating charges +€3,436
up €3,436 (+1,110%), from €310 to €3,745
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 | €200,346 | €305,306 | +€104,960 | +52.4% |
| Fixed assets | 21/28 | €43,746 | €68,388 | +€24,643 | +56.3% |
| Tangible fixed assets | 22/27 | €43,746 | €68,388 | +€24,643 | +56.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €43,746 | €68,388 | +€24,643 | +56.3% |
| Current assets | 29/58 | €156,600 | €236,918 | +€80,317 | +51.3% |
| Amounts receivable within one year | 40/41 | €141,127 | €232,422 | +€91,295 | +64.7% |
| Trade receivables | 40 | €50,985 | €130,422 | +€79,437 | +156% |
| Other amounts receivable | 41 | €90,142 | €102,000 | +€11,858 | +13.2% |
| Cash at bank and in hand | 54/58 | €14,462 | €2,925 | -€11,537 | -79.8% |
| Deferred charges and accrued income | 490/1 | €1,011 | €1,571 | +€559 | +55.3% |
| Total equity and liabilities | 10/49 | €200,346 | €305,306 | +€104,960 | +52.4% |
| Equity | 10/15 | €39,399 | €67,268 | +€27,869 | +70.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,563 | €61,068 | +€15,505 | +34.0% |
| Distributable reserves | 133 | €45,563 | €61,068 | +€15,505 | +34.0% |
| Profit (loss) carried forward | 14 | -€12,364 | €0 | +€12,364 | |
| Amounts payable | 17/49 | €160,947 | €238,038 | +€77,091 | +47.9% |
| Amounts payable after more than one year | 17 | €110,113 | €106,539 | -€3,574 | -3.2% |
| Financial debts | 170/4 | €110,113 | €106,539 | -€3,574 | -3.2% |
| Amounts payable within one year | 42/48 | €50,834 | €130,498 | +€79,665 | +157% |
| Current portion of amounts payable after more than one year | 42 | €10,671 | €17,723 | +€7,052 | +66.1% |
| Trade debts | 44 | €3,185 | €5,993 | +€2,808 | +88.1% |
| Suppliers | 440/4 | €3,185 | €5,993 | +€2,808 | +88.1% |
| Taxes, remuneration and social security | 45 | €3,283 | €16,280 | +€12,997 | +396% |
| Taxes | 450/3 | €3,283 | €16,280 | +€12,997 | +396% |
| Other amounts payable | 47/48 | €33,695 | €90,503 | +€56,807 | +169% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,208 | €18,982 | +€6,774 | +55.5% |
| Other operating charges | 640/8 | €310 | €3,745 | +€3,436 | +1,110% |
| Gross operating margin | 9900 | €64,308 | €154,021 | +€89,713 | +140% |
| Operating profit (loss) | 9901 | €51,791 | €131,043 | +€79,253 | +153% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €854 | €1,533 | +€679 | +79.6% |
| Recurring financial charges | 65 | €854 | €1,533 | +€679 | +79.6% |
| Profit (loss) for the period before taxes | 9903 | €50,937 | €129,510 | +€78,573 | +154% |
| Income taxes | 67/77 | €2,476 | €27,938 | +€25,461 | +1,028% |
| Profit (loss) for the period | 9904 | €48,461 | €101,572 | +€53,112 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €48,461 | €101,572 | +€53,112 | +110% |
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 29 October 2026 via checked.be.