SHC GROUP: what changed
SHC GROUP
Largest movements
- Receivables within one year -€79,856
down €79,856 (-95.5%), from €83,589 to €3,733
- Stocks and contracts +€70,875
up €70,875 (+29.5%), from €240,091 to €310,966
- Cash -€19,472
down €19,472 (-44.6%), from €43,666 to €24,194
mainly Stocks and contracts (-€70,875) and Trade debts (-€39,677)
- Tangible fixed assets -€11,409
down €11,409 (-31.5%), from €36,167 to €24,758
of which Plant, machinery and equipment: -€7,901
- Trade debts -€39,677
down €39,677 (-47.2%), from €84,012 to €44,335
- Profit (loss) carried forward -€6,980
down €6,980, from €5,599 to -€1,381
- Tax, wage and social debts +€6,431
up €6,431 (+46.2%), from €13,928 to €20,359
- Staff costs +€28,477
new in 2025: €28,477
- Gross operating margin +€11,243
up €11,243 (+45.5%), from €24,696 to €35,939
- Depreciation -€4,593
down €4,593 (-28.1%), from €16,340 to €11,747
- Taxes -€1,811
no longer reported in 2025 (was €1,811)
- Financial charges +€951
up €951 (+101%), from €946 to €1,898
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €411,013 | €371,152 | -€39,862 | -9.7% |
| Fixed assets | 21/28 | €43,667 | €32,258 | -€11,409 | -26.1% |
| Tangible fixed assets | 22/27 | €36,167 | €24,758 | -€11,409 | -31.5% |
| Plant, machinery and equipment | 23 | €30,228 | €22,327 | -€7,901 | -26.1% |
| Furniture and vehicles | 24 | €5,939 | €2,432 | -€3,508 | -59.1% |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €367,346 | €338,893 | -€28,453 | -7.7% |
| Stocks and contracts in progress | 3 | €240,091 | €310,966 | +€70,875 | +29.5% |
| Stocks | 30/36 | €240,091 | €310,966 | +€70,875 | +29.5% |
| Amounts receivable within one year | 40/41 | €83,589 | €3,733 | -€79,856 | -95.5% |
| Trade receivables | 40 | €83,589 | €3,733 | -€79,856 | -95.5% |
| Cash at bank and in hand | 54/58 | €43,666 | €24,194 | -€19,472 | -44.6% |
| Total equity and liabilities | 10/49 | €411,013 | €371,152 | -€39,862 | -9.7% |
| Equity | 10/15 | €55,599 | €48,619 | -€6,980 | -12.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | €50,000 | = | 0.0% |
| Issued capital | 100 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,599 | -€1,381 | -€6,980 | |
| Amounts payable | 17/49 | €355,414 | €322,533 | -€32,881 | -9.3% |
| Amounts payable within one year | 42/48 | €353,914 | €322,533 | -€31,381 | -8.9% |
| Trade debts | 44 | €84,012 | €44,335 | -€39,677 | -47.2% |
| Suppliers | 440/4 | €84,012 | €44,335 | -€39,677 | -47.2% |
| Taxes, remuneration and social security | 45 | €13,928 | €20,359 | +€6,431 | +46.2% |
| Taxes | 450/3 | €13,928 | €20,359 | +€6,431 | +46.2% |
| Other amounts payable | 47/48 | €255,974 | €257,839 | +€1,865 | +0.7% |
| Accrued charges and deferred income | 492/3 | €1,500 | - | -€1,500 | |
| Remuneration, social security and pensions | 62 | - | €28,477 | +€28,477 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,340 | €11,747 | -€4,593 | -28.1% |
| Other operating charges | 640/8 | - | €798 | +€798 | |
| Gross operating margin | 9900 | €24,696 | €35,939 | +€11,243 | +45.5% |
| Operating profit (loss) | 9901 | €8,356 | -€5,083 | -€13,439 | |
| Financial charges | 65/66B | €946 | €1,898 | +€951 | +101% |
| Recurring financial charges | 65 | €946 | €1,898 | +€951 | +101% |
| Profit (loss) for the period before taxes | 9903 | €7,410 | -€6,980 | -€14,390 | |
| Income taxes | 67/77 | €1,811 | - | -€1,811 | |
| Profit (loss) for the period | 9904 | €5,599 | -€6,980 | -€12,579 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,599 | -€6,980 | -€12,579 |
Next steps
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 6 November 2026 via checked.be.