Sheltr Services: 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.
Sheltr Services
Largest movements
- Stocks and contracts -€4.4m
down €4.4m (-100.0%), from €4.4m to €0
- Tangible fixed assets +€1.5m
up €1.5m (+219779.7%), from €685 to €1.5m
of which Other tangible fixed assets: +€1.5m
- Receivables within one year +€443,307
up €443,307 (+904.0%), from €49,038 to €492,345
of which Trade receivables: +€344,427
- Intangible fixed assets +€194,573
up €194,573 (+60.3%), from €322,453 to €517,026
- Cash +€168,285
up €168,285 (+320.1%), from €52,571 to €220,856
mainly Stocks and contracts (+€4.4m) and Contributions, distributions and other (+€1.6m)
- Advances received -€3.3m
down €3.3m (-100.0%), from €3.3m to €0
- Contributions +€1.6m
up €1.6m (+786.0%), from €200,000 to €1.8m
- Profit (loss) carried forward -€758,265
down €758,265 (-1099.4%), from -€68,968 to -€827,233
- Debts after one year +€516,000
up €516,000 (+614.3%), from €84,000 to €600,000
- Other debts +€349,766
up €349,766 (+58.4%), from €599,187 to €948,953
- Gross operating margin -€285,330
down €285,330, from €7,572 to -€277,758
- Depreciation +€198,133
up €198,133 (+1142.8%), from €17,338 to €215,471
- Financial charges +€124,430
up €124,430 (+699.8%), from €17,782 to €142,212
- Other operating charges +€74,601
up €74,601 (+13195.8%), from €565 to €75,166
- Staff costs +€28,923
up €28,923 (+154.1%), from €18,774 to €47,697
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 | €4,939,902 | €2,834,996 | -€2.1m | -42.6% |
| Formation expenses | 20 | €1,290 | €745 | -€545 | -42.3% |
| Fixed assets | 21/28 | €399,637 | €2,098,668 | +€1.7m | +425.1% |
| Intangible fixed assets | 21 | €322,453 | €517,026 | +€194,573 | +60.3% |
| Tangible fixed assets | 22/27 | €685 | €1,505,142 | +€1.5m | +219779.7% |
| Plant, machinery and equipment | 23 | - | €1,964 | +€1,964 | |
| Other tangible fixed assets | 26 | €685 | €1,503,179 | +€1.5m | +219492.8% |
| Financial fixed assets | 28 | €76,500 | €76,500 | = | 0.0% |
| Current assets | 29/58 | €4,538,975 | €735,583 | -€3.8m | -83.8% |
| Stocks and contracts in progress | 3 | €4,436,980 | €0 | -€4.4m | -100.0% |
| Contracts in progress | 37 | €4,436,980 | €0 | -€4.4m | -100.0% |
| Amounts receivable within one year | 40/41 | €49,038 | €492,345 | +€443,307 | +904.0% |
| Trade receivables | 40 | €3,891 | €348,318 | +€344,427 | +8851.5% |
| Other amounts receivable | 41 | €45,146 | €144,027 | +€98,881 | +219.0% |
| Cash at bank and in hand | 54/58 | €52,571 | €220,856 | +€168,285 | +320.1% |
| Deferred charges and accrued income | 490/1 | €386 | €22,382 | +€21,997 | +5703.2% |
| Total equity and liabilities | 10/49 | €4,939,902 | €2,834,996 | -€2.1m | -42.6% |
| Equity | 10/15 | €131,032 | €944,767 | +€813,735 | +621.0% |
| Contributions | 10/11 | €200,000 | €1,772,000 | +€1.6m | +786.0% |
| Capital | 10 | €200,000 | €1,772,000 | +€1.6m | +786.0% |
| Issued capital | 100 | €200,000 | €1,772,000 | +€1.6m | +786.0% |
| Profit (loss) carried forward | 14 | -€68,968 | -€827,233 | -€758,265 | -1099.4% |
| Amounts payable | 17/49 | €4,808,870 | €1,890,229 | -€2.9m | -60.7% |
| Amounts payable after more than one year | 17 | €84,000 | €600,000 | +€516,000 | +614.3% |
| Financial debts | 170/4 | €84,000 | €600,000 | +€516,000 | +614.3% |
| Amounts payable within one year | 42/48 | €4,497,111 | €1,196,507 | -€3.3m | -73.4% |
| Trade debts | 44 | €554,344 | €239,662 | -€314,683 | -56.8% |
| Suppliers | 440/4 | €554,344 | €239,662 | -€314,683 | -56.8% |
| Advances received on contracts in progress | 46 | €3,317,766 | €0 | -€3.3m | -100.0% |
| Taxes, remuneration and social security | 45 | €25,814 | €7,892 | -€17,922 | -69.4% |
| Taxes | 450/3 | €20,940 | €0 | -€20,940 | -100.0% |
| Remuneration and social security | 454/9 | €4,874 | €7,892 | +€3,018 | +61.9% |
| Other amounts payable | 47/48 | €599,187 | €948,953 | +€349,766 | +58.4% |
| Accrued charges and deferred income | 492/3 | €227,759 | €93,723 | -€134,037 | -58.9% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €18,774 | €47,697 | +€28,923 | +154.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,338 | €215,471 | +€198,133 | +1142.8% |
| Other operating charges | 640/8 | €565 | €75,166 | +€74,601 | +13195.8% |
| Gross operating margin | 9900 | €7,572 | -€277,758 | -€285,330 | |
| Operating profit (loss) | 9901 | -€29,105 | -€616,093 | -€586,988 | -2016.8% |
| Financial income | 75/76B | €0 | €39 | +€39 | |
| Recurring financial income | 75 | €0 | €39 | +€39 | |
| Financial charges | 65/66B | €17,782 | €142,212 | +€124,430 | +699.8% |
| Recurring financial charges | 65 | €17,782 | €142,212 | +€124,430 | +699.8% |
| Profit (loss) for the period before taxes | 9903 | -€46,886 | -€758,265 | -€711,379 | -1517.2% |
| Profit (loss) for the period | 9904 | -€46,886 | -€758,265 | -€711,379 | -1517.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,886 | -€758,265 | -€711,379 | -1517.2% |
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.