SHENAN CONCEPT: 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.
SHENAN CONCEPT
Largest movements
- Cash +€66,523
up €66,523 (+258%), from €25,815 to €92,338
mainly Net result for the year (+€45,484) and Other debts (+€14,018)
- Receivables within one year +€3,896
up €3,896 (+38.6%), from €10,103 to €13,998
of which Trade receivables: +€4,454
- Profit (loss) carried forward +€45,484
up €45,484, from -€13,706 to €31,778
- Other debts +€14,018
up €14,018 (+1,265%), from €1,108 to €15,125
- Tax, wage and social debts +€13,055
new in 2025: €13,055
- Contributions -€4,500
down €4,500 (-52.2%), from €8,620 to €4,120
- Trade debts +€1,983
up €1,983 (+5.6%), from €35,111 to €37,094
- Gross operating margin +€118,825
up €118,825, from -€72,462 to €46,363
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.
Derived cash bridge
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 | €43,382 | €113,422 | +€70,040 | +161% |
| Fixed assets | 21/28 | €7,464 | €7,086 | -€378 | -5.1% |
| Intangible fixed assets | 21 | €664 | €286 | -€378 | -57.0% |
| Financial fixed assets | 28 | €6,800 | €6,800 | = | 0.0% |
| Current assets | 29/58 | €35,918 | €106,337 | +€70,419 | +196% |
| Amounts receivable within one year | 40/41 | €10,103 | €13,998 | +€3,896 | +38.6% |
| Trade receivables | 40 | €9,544 | €13,998 | +€4,454 | +46.7% |
| Other amounts receivable | 41 | €559 | - | -€559 | |
| Cash at bank and in hand | 54/58 | €25,815 | €92,338 | +€66,523 | +258% |
| Total equity and liabilities | 10/49 | €43,382 | €113,422 | +€70,040 | +161% |
| Equity | 10/15 | -€5,086 | €35,898 | +€40,984 | |
| Contributions | 10/11 | €8,620 | €4,120 | -€4,500 | -52.2% |
| Profit (loss) carried forward | 14 | -€13,706 | €31,778 | +€45,484 | |
| Amounts payable | 17/49 | €48,468 | €77,524 | +€29,056 | +59.9% |
| Amounts payable after more than one year | 17 | €12,250 | €12,250 | = | 0.0% |
| Financial debts | 170/4 | €12,250 | €12,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,218 | €65,274 | +€29,056 | +80.2% |
| Trade debts | 44 | €35,111 | €37,094 | +€1,983 | +5.6% |
| Suppliers | 440/4 | €35,111 | €37,094 | +€1,983 | +5.6% |
| Taxes, remuneration and social security | 45 | - | €13,055 | +€13,055 | |
| Taxes | 450/3 | - | €13,055 | +€13,055 | |
| Other amounts payable | 47/48 | €1,108 | €15,125 | +€14,018 | +1,265% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €378 | -€122 | -24.3% |
| Other operating charges | 640/8 | €387 | €441 | +€53 | +13.7% |
| Gross operating margin | 9900 | -€72,462 | €46,363 | +€118,825 | |
| Operating profit (loss) | 9901 | -€73,349 | €45,544 | +€118,894 | |
| Financial charges | 65/66B | €414 | €60 | -€354 | -85.5% |
| Recurring financial charges | 65 | €414 | €60 | -€354 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | -€73,763 | €45,484 | +€119,247 | |
| Profit (loss) for the period | 9904 | -€73,763 | €45,484 | +€119,247 | |
| Profit (loss) for the period to be appropriated | 9905 | -€73,763 | €45,484 | +€119,247 |
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 15 October 2026 via checked.be.