SHAWANDA: 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.
SHAWANDA
Largest movements
- Current investments +€534,000
new in 2025: €534,000
- Receivables within one year +€123,788
up €123,788 (+134%), from €92,592 to €216,380
of which Other amounts receivable: +€65,980
- Cash +€47,595
up €47,595 (+26.0%), from €183,264 to €230,858
- Profit (loss) carried forward +€697,309
up €697,309 (+40.7%), from €1.7m to €2.4m
- Tax, wage and social debts +€47,773
up €47,773 (+82.2%), from €58,106 to €105,878
of which Taxes: +€29,124
- Other debts -€40,124
down €40,124 (-59.5%), from €67,416 to €27,292
- Gross operating margin +€679,794
up €679,794 (+122%), from €556,155 to €1.2m
- Staff costs +€145,557
up €145,557 (+87.9%), from €165,597 to €311,153
- Taxes +€107,421
up €107,421 (+183%), from €58,809 to €166,230
- Other operating charges -€33,263
down €33,263 (-50.6%), from €65,673 to €32,410
- Financial charges -€16,858
down €16,858 (-40.0%), from €42,113 to €25,255
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,226,771 | €2,932,217 | +€705,446 | +31.7% |
| Fixed assets | 21/28 | €1,950,915 | €1,950,979 | +€64 | 0.0% |
| Tangible fixed assets | 22/27 | €915 | €979 | +€64 | +7.0% |
| Furniture and vehicles | 24 | €915 | €979 | +€64 | +7.0% |
| Financial fixed assets | 28 | €1,950,000 | €1,950,000 | = | 0.0% |
| Current assets | 29/58 | €275,856 | €981,238 | +€705,382 | +256% |
| Amounts receivable within one year | 40/41 | €92,592 | €216,380 | +€123,788 | +134% |
| Trade receivables | 40 | €48,273 | €106,080 | +€57,808 | +120% |
| Other amounts receivable | 41 | €44,320 | €110,300 | +€65,980 | +149% |
| Current investments | 50/53 | - | €534,000 | +€534,000 | |
| Cash at bank and in hand | 54/58 | €183,264 | €230,858 | +€47,595 | +26.0% |
| Total equity and liabilities | 10/49 | €2,226,771 | €2,932,217 | +€705,446 | +31.7% |
| Equity | 10/15 | €1,713,704 | €2,411,012 | +€697,309 | +40.7% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,711,844 | €2,409,152 | +€697,309 | +40.7% |
| Amounts payable | 17/49 | €513,068 | €521,205 | +€8,137 | +1.6% |
| Amounts payable after more than one year | 17 | €119,727 | €114,793 | -€4,934 | -4.1% |
| Financial debts | 170/4 | €119,727 | €114,793 | -€4,934 | -4.1% |
| Amounts payable within one year | 42/48 | €338,340 | €351,412 | +€13,072 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €93,924 | €112,947 | +€19,023 | +20.3% |
| Financial debts | 43 | €80,890 | €69,268 | -€11,622 | -14.4% |
| Credit institutions | 430/8 | €80,890 | €69,268 | -€11,622 | -14.4% |
| Trade debts | 44 | €38,004 | €36,026 | -€1,978 | -5.2% |
| Suppliers | 440/4 | €38,004 | €36,026 | -€1,978 | -5.2% |
| Taxes, remuneration and social security | 45 | €58,106 | €105,878 | +€47,773 | +82.2% |
| Taxes | 450/3 | €8,442 | €37,566 | +€29,124 | +345% |
| Remuneration and social security | 454/9 | €49,664 | €68,312 | +€18,648 | +37.5% |
| Other amounts payable | 47/48 | €67,416 | €27,292 | -€40,124 | -59.5% |
| Accrued charges and deferred income | 492/3 | €55,000 | €55,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €5,027 | +€5,027 | |
| Remuneration, social security and pensions | 62 | €165,597 | €311,153 | +€145,557 | +87.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,347 | €2,873 | -€13,475 | -82.4% |
| Other operating charges | 640/8 | €65,673 | €32,410 | -€33,263 | -50.6% |
| Non-recurring operating charges | 66A | €499 | €787 | +€288 | +57.7% |
| Gross operating margin | 9900 | €556,155 | €1,235,949 | +€679,794 | +122% |
| Operating profit (loss) | 9901 | €308,039 | €888,727 | +€580,687 | +189% |
| Financial income | 75/76B | €502 | €66 | -€436 | -86.8% |
| Recurring financial income | 75 | €502 | €66 | -€436 | -86.8% |
| Financial charges | 65/66B | €42,113 | €25,255 | -€16,858 | -40.0% |
| Recurring financial charges | 65 | €42,113 | €25,255 | -€16,858 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €266,429 | €863,538 | +€597,109 | +224% |
| Income taxes | 67/77 | €58,809 | €166,230 | +€107,421 | +183% |
| Profit (loss) for the period | 9904 | €207,620 | €697,309 | +€489,688 | +236% |
| Profit (loss) for the period to be appropriated | 9905 | €207,620 | €697,309 | +€489,688 | +236% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.