Shed: 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.
Shed
Largest movements
- Tangible fixed assets +€21,167
up €21,167 (+2962.7%), from €714 to €21,881
of which Furniture and vehicles: +€20,216
- Receivables within one year -€7,971
down €7,971 (-88.6%), from €9,001 to €1,030
of which Trade receivables: -€8,705
- Cash +€6,559
up €6,559 (+89.1%), from €7,363 to €13,922
mainly Other debts (+€27,115) and Receivables within one year (+€7,971)
- Formation expenses -€1,844
down €1,844 (-100.0%), from €1,844 to €0
- Deferred charges and accrued income +€443
new in 2025: €443
- Other debts +€27,115
up €27,115 (+1133.1%), from €2,393 to €29,508
- Reserves -€8,539
down €8,539 (-98.7%), from €8,652 to €113
- Trade debts -€1,219
down €1,219 (-38.5%), from €3,170 to €1,951
- Accrued charges and deferred income +€786
new in 2025: €786
- Gross operating margin -€13,452
down €13,452, from €11,417 to -€2,035
- Depreciation +€5,558
up €5,558 (+1185.3%), from €469 to €6,027
- Taxes -€2,213
down €2,213 (-97.1%), from €2,279 to €66
- Other operating charges +€282
new in 2025: €282
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.
Cash bridge derived
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 | €18,922 | €37,276 | +€18,354 | +97.0% |
| Formation expenses | 20 | €1,844 | €0 | -€1,844 | -100.0% |
| Fixed assets | 21/28 | €714 | €21,881 | +€21,167 | +2962.7% |
| Tangible fixed assets | 22/27 | €714 | €21,881 | +€21,167 | +2962.7% |
| Furniture and vehicles | 24 | €714 | €20,930 | +€20,216 | +2829.5% |
| Other tangible fixed assets | 26 | - | €951 | +€951 | |
| Current assets | 29/58 | €16,364 | €15,395 | -€969 | -5.9% |
| Amounts receivable within one year | 40/41 | €9,001 | €1,030 | -€7,971 | -88.6% |
| Trade receivables | 40 | €9,001 | €296 | -€8,705 | -96.7% |
| Other amounts receivable | 41 | - | €734 | +€734 | |
| Cash at bank and in hand | 54/58 | €7,363 | €13,922 | +€6,559 | +89.1% |
| Deferred charges and accrued income | 490/1 | - | €443 | +€443 | |
| Total equity and liabilities | 10/49 | €18,922 | €37,276 | +€18,354 | +97.0% |
| Equity | 10/15 | €10,152 | €1,613 | -€8,539 | -84.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €8,652 | €113 | -€8,539 | -98.7% |
| Distributable reserves | 133 | €8,652 | €113 | -€8,539 | -98.7% |
| Amounts payable | 17/49 | €8,770 | €35,663 | +€26,893 | +306.6% |
| Amounts payable within one year | 42/48 | €8,770 | €34,877 | +€26,107 | +297.7% |
| Trade debts | 44 | €3,170 | €1,951 | -€1,219 | -38.5% |
| Suppliers | 440/4 | €3,170 | €1,951 | -€1,219 | -38.5% |
| Taxes, remuneration and social security | 45 | €3,208 | €3,419 | +€211 | +6.6% |
| Taxes | 450/3 | €3,208 | €3,419 | +€211 | +6.6% |
| Other amounts payable | 47/48 | €2,393 | €29,508 | +€27,115 | +1133.1% |
| Accrued charges and deferred income | 492/3 | - | €786 | +€786 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €469 | €6,027 | +€5,558 | +1185.3% |
| Other operating charges | 640/8 | - | €282 | +€282 | |
| Gross operating margin | 9900 | €11,417 | -€2,035 | -€13,452 | |
| Operating profit (loss) | 9901 | €10,948 | -€8,345 | -€19,293 | |
| Financial income | 75/76B | €16 | €3 | -€13 | -78.9% |
| Recurring financial income | 75 | €16 | €3 | -€13 | -78.9% |
| Financial charges | 65/66B | €32 | €131 | +€99 | +306.5% |
| Recurring financial charges | 65 | €32 | €131 | +€99 | +306.5% |
| Profit (loss) for the period before taxes | 9903 | €10,931 | -€8,473 | -€19,404 | |
| Income taxes | 67/77 | €2,279 | €66 | -€2,213 | -97.1% |
| Profit (loss) for the period | 9904 | €8,652 | -€8,539 | -€17,191 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,652 | -€8,539 | -€17,191 |
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 10 October 2026 via checked.be.