SHEKINA: 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.
SHEKINA
Largest movements
- Tangible fixed assets -€53,151
down €53,151 (-10.2%), from €523,336 to €470,185
- Receivables within one year -€32,548
down €32,548 (-51.7%), from €62,937 to €30,388
of which Trade receivables: -€26,646
- Cash +€32,541
up €32,541 (+34.4%), from €94,595 to €127,136
mainly Net result for the year (+€105,234) and Depreciation (+€53,151)
- Reserves +€105,234
up €105,234 (+51.3%), from €205,266 to €310,500
- Debts after one year -€85,760
down €85,760 (-34.5%), from €248,360 to €162,600
- Profit (loss) carried forward -€60,976
no longer reported in 2025 (was €60,976)
- Trade debts -€14,048
down €14,048 (-98.0%), from €14,328 to €280
- Staff costs -€36,596
no longer reported in 2025 (was €36,596)
- Gross operating margin -€27,677
down €27,677 (-9.4%), from €293,659 to €265,982
- Taxes +€12,346
up €12,346 (+36.8%), from €33,595 to €45,941
- Financial charges -€11,655
down €11,655 (-17.3%), from €67,189 to €55,534
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 | €748,377 | €688,223 | -€60,154 | -8.0% |
| Fixed assets | 21/28 | €533,336 | €480,185 | -€53,151 | -10.0% |
| Tangible fixed assets | 22/27 | €523,336 | €470,185 | -€53,151 | -10.2% |
| Land and buildings | 22 | €401,693 | €388,290 | -€13,404 | -3.3% |
| Plant, machinery and equipment | 23 | €4,980 | €3,581 | -€1,399 | -28.1% |
| Furniture and vehicles | 24 | €18,628 | €4,962 | -€13,665 | -73.4% |
| Leasing and similar rights | 25 | €98,036 | €73,352 | -€24,684 | -25.2% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €215,041 | €208,038 | -€7,003 | -3.3% |
| Amounts receivable within one year | 40/41 | €62,937 | €30,388 | -€32,548 | -51.7% |
| Trade receivables | 40 | €29,198 | €2,552 | -€26,646 | -91.3% |
| Other amounts receivable | 41 | €33,739 | €27,837 | -€5,903 | -17.5% |
| Cash at bank and in hand | 54/58 | €94,595 | €127,136 | +€32,541 | +34.4% |
| Deferred charges and accrued income | 490/1 | €57,509 | €50,514 | -€6,995 | -12.2% |
| Total equity and liabilities | 10/49 | €748,377 | €688,223 | -€60,154 | -8.0% |
| Equity | 10/15 | €358,991 | €403,250 | +€44,258 | +12.3% |
| Contributions | 10/11 | €92,750 | €92,750 | = | 0.0% |
| Reserves | 13 | €205,266 | €310,500 | +€105,234 | +51.3% |
| Distributable reserves | 133 | €205,266 | €310,500 | +€105,234 | +51.3% |
| Profit (loss) carried forward | 14 | €60,976 | - | -€60,976 | |
| Amounts payable | 17/49 | €389,386 | €284,974 | -€104,412 | -26.8% |
| Amounts payable after more than one year | 17 | €248,360 | €162,600 | -€85,760 | -34.5% |
| Financial debts | 170/4 | €248,360 | €162,600 | -€85,760 | -34.5% |
| Amounts payable within one year | 42/48 | €141,026 | €122,374 | -€18,652 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €92,630 | €87,360 | -€5,270 | -5.7% |
| Trade debts | 44 | €14,328 | €280 | -€14,048 | -98.0% |
| Suppliers | 440/4 | €14,328 | €280 | -€14,048 | -98.0% |
| Taxes, remuneration and social security | 45 | €2,935 | €762 | -€2,173 | -74.0% |
| Taxes | 450/3 | €482 | €762 | +€280 | +58.0% |
| Remuneration and social security | 454/9 | €2,452 | - | -€2,452 | |
| Other amounts payable | 47/48 | €31,133 | €33,972 | +€2,839 | +9.1% |
| Remuneration, social security and pensions | 62 | €36,596 | - | -€36,596 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,233 | €53,151 | -€1,082 | -2.0% |
| Other operating charges | 640/8 | €5,884 | €6,123 | +€238 | +4.1% |
| Gross operating margin | 9900 | €293,659 | €265,982 | -€27,677 | -9.4% |
| Operating profit (loss) | 9901 | €196,947 | €206,709 | +€9,762 | +5.0% |
| Financial charges | 65/66B | €67,189 | €55,534 | -€11,655 | -17.3% |
| Recurring financial charges | 65 | €67,189 | €55,534 | -€11,655 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €129,758 | €151,175 | +€21,417 | +16.5% |
| Income taxes | 67/77 | €33,595 | €45,941 | +€12,346 | +36.8% |
| Profit (loss) for the period | 9904 | €96,163 | €105,234 | +€9,071 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €96,163 | €105,234 | +€9,071 | +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 9 October 2026 via checked.be.