Shellter: 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.
Shellter
Largest movements
- Receivables within one year -€39,235
down €39,235 (-88.8%), from €44,191 to €4,956
of which Other amounts receivable: -€21,389
- Stocks and contracts +€19,460
new in 2025: €19,460
- Cash +€5,119
up €5,119 (+42.4%), from €12,077 to €17,196
mainly Receivables within one year (+€39,235) and Trade debts (+€10,299)
- Reserves -€21,743
down €21,743 (-45.3%), from €48,017 to €26,273
- Trade debts +€10,299
up €10,299 (+505.0%), from €2,039 to €12,338
- Tax, wage and social debts -€3,211
down €3,211 (-100.0%), from €3,211 to €0
- Gross operating margin -€2,425
down €2,425 (-12.9%), from -€18,731 to -€21,155
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 | €63,871 | €49,215 | -€14,656 | -22.9% |
| Fixed assets | 21/28 | €7,604 | €7,604 | = | 0.0% |
| Financial fixed assets | 28 | €7,604 | €7,604 | = | 0.0% |
| Current assets | 29/58 | €56,267 | €41,611 | -€14,656 | -26.0% |
| Stocks and contracts in progress | 3 | - | €19,460 | +€19,460 | |
| Contracts in progress | 37 | - | €19,460 | +€19,460 | |
| Amounts receivable within one year | 40/41 | €44,191 | €4,956 | -€39,235 | -88.8% |
| Trade receivables | 40 | €21,295 | €3,449 | -€17,846 | -83.8% |
| Other amounts receivable | 41 | €22,895 | €1,506 | -€21,389 | -93.4% |
| Cash at bank and in hand | 54/58 | €12,077 | €17,196 | +€5,119 | +42.4% |
| Total equity and liabilities | 10/49 | €63,871 | €49,215 | -€14,656 | -22.9% |
| Equity | 10/15 | €51,017 | €29,273 | -€21,743 | -42.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €48,017 | €26,273 | -€21,743 | -45.3% |
| Distributable reserves | 133 | €48,017 | €26,273 | -€21,743 | -45.3% |
| Amounts payable | 17/49 | €12,854 | €19,942 | +€7,088 | +55.1% |
| Amounts payable within one year | 42/48 | €12,854 | €19,942 | +€7,088 | +55.1% |
| Trade debts | 44 | €2,039 | €12,338 | +€10,299 | +505.0% |
| Suppliers | 440/4 | €2,039 | €12,338 | +€10,299 | +505.0% |
| Taxes, remuneration and social security | 45 | €3,211 | €0 | -€3,211 | -100.0% |
| Taxes | 450/3 | €3,211 | €0 | -€3,211 | -100.0% |
| Other amounts payable | 47/48 | €7,604 | €7,604 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€18,731 | -€21,155 | -€2,425 | -12.9% |
| Operating profit (loss) | 9901 | -€19,236 | -€21,675 | -€2,439 | -12.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €152 | €68 | -€83 | -54.9% |
| Recurring financial charges | 65 | €152 | €68 | -€83 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,388 | -€21,743 | -€2,356 | -12.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€19,388 | -€21,743 | -€2,356 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,388 | -€21,743 | -€2,356 | -12.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.