Shelanu: what changed
Two fiscal 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.
Shelanu
Largest movements
- Receivables within one year +€226,632
up €226,632 (+54.1%), from €419,055 to €645,687
of which Other amounts receivable: +€118,517
- Cash +€67,206
up €67,206 (+104.7%), from €64,215 to €131,422
mainly Net result for the year (+€198,389) and Tax, wage and social debts (+€59,824)
- Tangible fixed assets -€20,812
down €20,812 (-23.3%), from €89,326 to €68,514
of which Furniture and vehicles: -€20,365
- Reserves +€198,389
up €198,389 (+29.4%), from €674,713 to €873,102
- Tax, wage and social debts +€59,824
up €59,824 (+465.0%), from €12,865 to €72,688
- Accrued charges and deferred income +€21,032
up €21,032 (+10859.5%), from €194 to €21,225
- Gross operating margin +€213,319
up €213,319 (+338.5%), from €63,016 to €276,335
- Taxes +€59,677
up €59,677 (+463.9%), from €12,865 to €72,541
- Financial income +€7,396
up €7,396 (+62.9%), from €11,756 to €19,152
- Other operating charges -€5,649
down €5,649 (-63.8%), from €8,855 to €3,206
- Depreciation +€3,839
up €3,839 (+22.6%), from €16,973 to €20,812
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 | €749,790 | €1,021,864 | +€272,074 | +36.3% |
| Fixed assets | 21/28 | €89,326 | €68,514 | -€20,812 | -23.3% |
| Tangible fixed assets | 22/27 | €89,326 | €68,514 | -€20,812 | -23.3% |
| Furniture and vehicles | 24 | €85,299 | €64,934 | -€20,365 | -23.9% |
| Other tangible fixed assets | 26 | €4,028 | €3,580 | -€448 | -11.1% |
| Current assets | 29/58 | €660,463 | €953,350 | +€292,886 | +44.3% |
| Amounts receivable after more than one year | 29 | €175,000 | €175,000 | = | 0.0% |
| Other amounts receivable | 291 | €175,000 | €175,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €419,055 | €645,687 | +€226,632 | +54.1% |
| Trade receivables | 40 | €207,311 | €315,426 | +€108,115 | +52.2% |
| Other amounts receivable | 41 | €211,744 | €330,261 | +€118,517 | +56.0% |
| Cash at bank and in hand | 54/58 | €64,215 | €131,422 | +€67,206 | +104.7% |
| Deferred charges and accrued income | 490/1 | €2,193 | €1,241 | -€952 | -43.4% |
| Total equity and liabilities | 10/49 | €749,790 | €1,021,864 | +€272,074 | +36.3% |
| Equity | 10/15 | €676,713 | €875,102 | +€198,389 | +29.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €674,713 | €873,102 | +€198,389 | +29.4% |
| Distributable reserves | 133 | €674,713 | €873,102 | +€198,389 | +29.4% |
| Amounts payable | 17/49 | €73,077 | €146,761 | +€73,685 | +100.8% |
| Amounts payable within one year | 42/48 | €72,883 | €125,536 | +€52,653 | +72.2% |
| Trade debts | 44 | €60,018 | €52,848 | -€7,170 | -11.9% |
| Suppliers | 440/4 | €60,018 | €52,848 | -€7,170 | -11.9% |
| Taxes, remuneration and social security | 45 | €12,865 | €72,688 | +€59,824 | +465.0% |
| Taxes | 450/3 | €12,865 | €72,688 | +€59,824 | +465.0% |
| Accrued charges and deferred income | 492/3 | €194 | €21,225 | +€21,032 | +10859.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,973 | €20,812 | +€3,839 | +22.6% |
| Other operating charges | 640/8 | €8,855 | €3,206 | -€5,649 | -63.8% |
| Gross operating margin | 9900 | €63,016 | €276,335 | +€213,319 | +338.5% |
| Operating profit (loss) | 9901 | €37,188 | €252,316 | +€215,128 | +578.5% |
| Financial income | 75/76B | €11,756 | €19,152 | +€7,396 | +62.9% |
| Recurring financial income | 75 | €11,756 | €19,152 | +€7,396 | +62.9% |
| Financial charges | 65/66B | €333 | €538 | +€205 | +61.6% |
| Recurring financial charges | 65 | €333 | €538 | +€205 | +61.6% |
| Profit (loss) for the period before taxes | 9903 | €48,611 | €270,930 | +€222,319 | +457.3% |
| Income taxes | 67/77 | €12,865 | €72,541 | +€59,677 | +463.9% |
| Profit (loss) for the period | 9904 | €35,747 | €198,389 | +€162,642 | +455.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,747 | €198,389 | +€162,642 | +455.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.