SHD Service: 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.
SHD Service
Largest movements
- Tangible fixed assets -€18,267
down €18,267 (-23.5%), from €77,796 to €59,529
of which Leasing and similar rights: -€19,156
- Cash -€9,501
down €9,501 (-53.7%), from €17,696 to €8,195
mainly Debts after one year (-€17,256) and Net result for the year (-€14,751)
- Deferred charges and accrued income -€1,036
down €1,036 (-69.1%), from €1,499 to €463
- Debts after one year -€17,256
down €17,256 (-30.9%), from €55,845 to €38,588
- Profit (loss) carried forward -€14,751
down €14,751 (-323%), from -€4,567 to -€19,317
- Other debts +€1,304
up €1,304 (+163%), from €799 to €2,103
- Depreciation +€8,197
up €8,197 (+69.3%), from €11,824 to €20,022
- Gross operating margin -€4,576
down €4,576 (-35.0%), from €13,055 to €8,480
- Financial charges +€1,057
up €1,057 (+59.7%), from €1,772 to €2,829
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 | €99,855 | €69,906 | -€29,949 | -30.0% |
| Formation expenses | 20 | €1,073 | €732 | -€341 | -31.8% |
| Fixed assets | 21/28 | €77,796 | €59,529 | -€18,267 | -23.5% |
| Tangible fixed assets | 22/27 | €77,796 | €59,529 | -€18,267 | -23.5% |
| Plant, machinery and equipment | 23 | €846 | €573 | -€274 | -32.3% |
| Furniture and vehicles | 24 | €764 | €1,926 | +€1,163 | +152% |
| Leasing and similar rights | 25 | €76,187 | €57,030 | -€19,156 | -25.1% |
| Current assets | 29/58 | €20,985 | €9,645 | -€11,341 | -54.0% |
| Amounts receivable within one year | 40/41 | €1,791 | €987 | -€804 | -44.9% |
| Trade receivables | 40 | €43 | - | -€43 | |
| Other amounts receivable | 41 | €1,748 | €987 | -€761 | -43.5% |
| Cash at bank and in hand | 54/58 | €17,696 | €8,195 | -€9,501 | -53.7% |
| Deferred charges and accrued income | 490/1 | €1,499 | €463 | -€1,036 | -69.1% |
| Total equity and liabilities | 10/49 | €99,855 | €69,906 | -€29,949 | -30.0% |
| Equity | 10/15 | €25,433 | €10,683 | -€14,751 | -58.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,567 | -€19,317 | -€14,751 | -323% |
| Amounts payable | 17/49 | €74,421 | €59,223 | -€15,198 | -20.4% |
| Amounts payable after more than one year | 17 | €55,845 | €38,588 | -€17,256 | -30.9% |
| Financial debts | 170/4 | €55,845 | €38,588 | -€17,256 | -30.9% |
| Amounts payable within one year | 42/48 | €18,576 | €20,635 | +€2,058 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €16,659 | €17,256 | +€597 | +3.6% |
| Trade debts | 44 | €1,118 | €1,275 | +€157 | +14.0% |
| Suppliers | 440/4 | €1,118 | €1,275 | +€157 | +14.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €799 | €2,103 | +€1,304 | +163% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,824 | €20,022 | +€8,197 | +69.3% |
| Other operating charges | 640/8 | €255 | €380 | +€125 | +49.1% |
| Gross operating margin | 9900 | €13,055 | €8,480 | -€4,576 | -35.0% |
| Operating profit (loss) | 9901 | €976 | -€11,922 | -€12,898 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €1,772 | €2,829 | +€1,057 | +59.7% |
| Recurring financial charges | 65 | €1,772 | €2,829 | +€1,057 | +59.7% |
| Profit (loss) for the period before taxes | 9903 | -€793 | -€14,751 | -€13,957 | -1,759% |
| Profit (loss) for the period | 9904 | -€793 | -€14,751 | -€13,957 | -1,759% |
| Profit (loss) for the period to be appropriated | 9905 | -€793 | -€14,751 | -€13,957 | -1,759% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.