SHB Medical: what changed
What changed
SHB Medical
filed annual accounts (NBB)
Net result for the year
€92,730
2024 · €84,774+€7,956
Equity
€23,338
2024 · €10,608+€12,730
Cash
€170,227
2024 · €114,199+€56,028
Balance sheet total
€240,010
2024 · €200,927+€39,083
Largest movements
Assets
- Cash +€56,028
up €56,028 (+49.1%), from €114,199 to €170,227
mainly Net result for the year (+€92,730) and Debts after one year (+€28,148)
- Receivables after one year -€15,272
down €15,272 (-37.2%), from €41,029 to €25,757
- Tangible fixed assets -€7,590
down €7,590 (-84.7%), from €8,963 to €1,372
- Receivables within one year +€5,474
up €5,474 (+16.7%), from €32,760 to €38,234
of which Trade receivables: +€5,233
Equity and liabilities
- Debts after one year +€28,148
up €28,148 (+15.4%), from €182,750 to €210,898
- Reserves +€13,338
up €13,338 (+267%), from €5,000 to €18,338
Income statement
- Gross operating margin +€10,765
up €10,765 (+9.4%), from €114,742 to €125,507
- Taxes +€2,082
up €2,082 (+8.5%), from €24,514 to €26,596
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€84,774
Gross operating margin
+€10,765
Other operating charges
+€80
Financial income
-€692
Financial charges
-€115
Taxes
-€2,082
Result 2025
€92,730
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€107,880
Investment
€0
Financing
-€51,852
Cash 2024
€114,199
From operations (derived)
+€107,880
Net result for the year
+€92,730
Depreciation
+€7,590
Receivables after one year
+€15,272
Receivables within one year
-€5,474
Deferred charges and accrued income
-€443
Trade debts
-€148
Tax, wage and social debts
-€523
Other debts
-€1,124
Financing
-€51,852
Debts after one year
+€28,148
Contributions, distributions and other
-€80,000
Cash 2025
€170,227
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,927 | €240,010 | +€39,083 | +19.5% |
| Fixed assets | 21/28 | €8,963 | €1,372 | -€7,590 | -84.7% |
| Tangible fixed assets | 22/27 | €8,963 | €1,372 | -€7,590 | -84.7% |
| Furniture and vehicles | 24 | €8,963 | €1,372 | -€7,590 | -84.7% |
| Current assets | 29/58 | €191,965 | €238,637 | +€46,673 | +24.3% |
| Amounts receivable after more than one year | 29 | €41,029 | €25,757 | -€15,272 | -37.2% |
| Other amounts receivable | 291 | €41,029 | €25,757 | -€15,272 | -37.2% |
| Amounts receivable within one year | 40/41 | €32,760 | €38,234 | +€5,474 | +16.7% |
| Trade receivables | 40 | €17,730 | €22,963 | +€5,233 | +29.5% |
| Other amounts receivable | 41 | €15,030 | €15,272 | +€241 | +1.6% |
| Cash at bank and in hand | 54/58 | €114,199 | €170,227 | +€56,028 | +49.1% |
| Deferred charges and accrued income | 490/1 | €3,977 | €4,420 | +€443 | +11.1% |
| Total equity and liabilities | 10/49 | €200,927 | €240,010 | +€39,083 | +19.5% |
| Equity | 10/15 | €10,608 | €23,338 | +€12,730 | +120% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €18,338 | +€13,338 | +267% |
| Distributable reserves | 133 | €5,000 | €18,338 | +€13,338 | +267% |
| Profit (loss) carried forward | 14 | €608 | €0 | -€608 | -100% |
| Amounts payable | 17/49 | €190,319 | €216,672 | +€26,352 | +13.8% |
| Amounts payable after more than one year | 17 | €182,750 | €210,898 | +€28,148 | +15.4% |
| Other amounts payable | 178/9 | €182,750 | €210,898 | +€28,148 | +15.4% |
| Amounts payable within one year | 42/48 | €7,569 | €5,774 | -€1,796 | -23.7% |
| Trade debts | 44 | €5,326 | €5,177 | -€148 | -2.8% |
| Suppliers | 440/4 | €5,326 | €5,177 | -€148 | -2.8% |
| Taxes, remuneration and social security | 45 | €1,119 | €596 | -€523 | -46.7% |
| Taxes | 450/3 | €1,119 | €596 | -€523 | -46.7% |
| Other amounts payable | 47/48 | €1,124 | €0 | -€1,124 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,590 | €7,590 | = | 0.0% |
| Other operating charges | 640/8 | €852 | €772 | -€80 | -9.4% |
| Gross operating margin | 9900 | €114,742 | €125,507 | +€10,765 | +9.4% |
| Operating profit (loss) | 9901 | €106,299 | €117,145 | +€10,845 | +10.2% |
| Financial income | 75/76B | €3,087 | €2,394 | -€692 | -22.4% |
| Recurring financial income | 75 | €3,087 | €2,394 | -€692 | -22.4% |
| Financial charges | 65/66B | €98 | €213 | +€115 | +118% |
| Recurring financial charges | 65 | €98 | €213 | +€115 | +118% |
| Profit (loss) for the period before taxes | 9903 | €109,289 | €119,326 | +€10,038 | +9.2% |
| Income taxes | 67/77 | €24,514 | €26,596 | +€2,082 | +8.5% |
| Profit (loss) for the period | 9904 | €84,774 | €92,730 | +€7,956 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,774 | €92,730 | +€7,956 | +9.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.