Shearwater in Sight: 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.
Shearwater in Sight
Largest movements
- Cash -€10,429
down €10,429 (-20.1%), from €51,773 to €41,345
mainly Contributions, distributions and other (-€75,000) and Tax, wage and social debts (-€28,201)
- Receivables within one year -€10,066
down €10,066 (-11.0%), from €91,388 to €81,323
of which Other amounts receivable: -€10,890
- Deferred charges and accrued income +€4,569
up €4,569 (+371%), from €1,230 to €5,799
- Tangible fixed assets +€1,652
up €1,652 (+34.3%), from €4,820 to €6,471
- Tax, wage and social debts -€28,201
down €28,201 (-67.1%), from €42,026 to €13,824
- Reserves +€13,593
up €13,593 (+52.7%), from €25,788 to €39,380
- Other debts +€2,950
up €2,950 (+4.1%), from €72,000 to €74,950
- Trade debts -€2,641
down €2,641 (-59.7%), from €4,424 to €1,783
- Gross operating margin -€18,912
down €18,912 (-14.2%), from €132,964 to €114,051
- Taxes -€4,348
down €4,348 (-14.2%), from €30,579 to €26,231
- Financial income +€3,813
up €3,813 (+645%), from €591 to €4,404
- Depreciation -€1,665
down €1,665 (-39.0%), from €4,267 to €2,602
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 | €149,399 | €134,938 | -€14,462 | -9.7% |
| Formation expenses | 20 | €189 | €0 | -€189 | -100% |
| Fixed assets | 21/28 | €4,820 | €6,471 | +€1,652 | +34.3% |
| Tangible fixed assets | 22/27 | €4,820 | €6,471 | +€1,652 | +34.3% |
| Furniture and vehicles | 24 | €4,820 | €6,471 | +€1,652 | +34.3% |
| Current assets | 29/58 | €144,391 | €128,466 | -€15,925 | -11.0% |
| Amounts receivable within one year | 40/41 | €91,388 | €81,323 | -€10,066 | -11.0% |
| Trade receivables | 40 | €23,186 | €24,010 | +€824 | +3.6% |
| Other amounts receivable | 41 | €68,202 | €57,313 | -€10,890 | -16.0% |
| Cash at bank and in hand | 54/58 | €51,773 | €41,345 | -€10,429 | -20.1% |
| Deferred charges and accrued income | 490/1 | €1,230 | €5,799 | +€4,569 | +371% |
| Total equity and liabilities | 10/49 | €149,399 | €134,938 | -€14,462 | -9.7% |
| Equity | 10/15 | €30,788 | €44,380 | +€13,593 | +44.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,788 | €39,380 | +€13,593 | +52.7% |
| Distributable reserves | 133 | €25,788 | €39,380 | +€13,593 | +52.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €118,612 | €90,557 | -€28,054 | -23.7% |
| Amounts payable within one year | 42/48 | €118,450 | €90,557 | -€27,892 | -23.5% |
| Trade debts | 44 | €4,424 | €1,783 | -€2,641 | -59.7% |
| Suppliers | 440/4 | €4,424 | €1,783 | -€2,641 | -59.7% |
| Taxes, remuneration and social security | 45 | €42,026 | €13,824 | -€28,201 | -67.1% |
| Taxes | 450/3 | €42,026 | €13,824 | -€28,201 | -67.1% |
| Other amounts payable | 47/48 | €72,000 | €74,950 | +€2,950 | +4.1% |
| Accrued charges and deferred income | 492/3 | €162 | €0 | -€162 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,267 | €2,602 | -€1,665 | -39.0% |
| Other operating charges | 640/8 | €700 | €679 | -€21 | -3.0% |
| Gross operating margin | 9900 | €132,964 | €114,051 | -€18,912 | -14.2% |
| Operating profit (loss) | 9901 | €127,996 | €110,771 | -€17,226 | -13.5% |
| Financial income | 75/76B | €591 | €4,404 | +€3,813 | +645% |
| Recurring financial income | 75 | €591 | €4,404 | +€3,813 | +645% |
| Financial charges | 65/66B | €221 | €351 | +€131 | +59.2% |
| Recurring financial charges | 65 | €221 | €351 | +€131 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | €128,367 | €114,823 | -€13,543 | -10.6% |
| Income taxes | 67/77 | €30,579 | €26,231 | -€4,348 | -14.2% |
| Profit (loss) for the period | 9904 | €97,788 | €88,593 | -€9,195 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €97,788 | €88,593 | -€9,195 | -9.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.