SHENIVA: 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.
SHENIVA
Largest movements
- Cash -€12,361
down €12,361 (-75.1%), from €16,466 to €4,105
mainly Trade debts (-€12,077) and Receivables within one year (-€11,849)
- Receivables within one year +€11,849
up €11,849 (+244%), from €4,853 to €16,702
of which Trade receivables: +€11,864
- Tangible fixed assets -€6,460
down €6,460 (-26.9%), from €24,008 to €17,548
- Trade debts -€12,077
down €12,077 (-56.2%), from €21,474 to €9,397
- Other debts +€4,737
up €4,737 (+2,204%), from €215 to €4,952
- Tax, wage and social debts +€2,923
up €2,923 (+38.6%), from €7,563 to €10,485
- Profit (loss) carried forward -€2,647
new in 2025: -€2,647
- Gross operating margin -€21,698
down €21,698 (-68.5%), from €31,695 to €9,996
- Taxes -€5,403
down €5,403 (-76.4%), from €7,072 to €1,669
- Depreciation +€1,576
up €1,576 (+20.5%), from €7,700 to €9,276
- Other operating charges -€715
down €715 (-33.0%), from €2,164 to €1,449
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 | €45,761 | €38,697 | -€7,064 | -15.4% |
| Fixed assets | 21/28 | €24,008 | €17,548 | -€6,460 | -26.9% |
| Tangible fixed assets | 22/27 | €24,008 | €17,548 | -€6,460 | -26.9% |
| Furniture and vehicles | 24 | €24,008 | €17,548 | -€6,460 | -26.9% |
| Current assets | 29/58 | €21,753 | €21,149 | -€604 | -2.8% |
| Amounts receivable within one year | 40/41 | €4,853 | €16,702 | +€11,849 | +244% |
| Trade receivables | 40 | €4,810 | €16,674 | +€11,864 | +247% |
| Other amounts receivable | 41 | €43 | €28 | -€15 | -34.7% |
| Cash at bank and in hand | 54/58 | €16,466 | €4,105 | -€12,361 | -75.1% |
| Deferred charges and accrued income | 490/1 | €435 | €343 | -€92 | -21.2% |
| Total equity and liabilities | 10/49 | €45,761 | €38,697 | -€7,064 | -15.4% |
| Equity | 10/15 | €16,509 | €13,862 | -€2,647 | -16.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €14,509 | €14,509 | = | 0.0% |
| Distributable reserves | 133 | €14,509 | €14,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,647 | -€2,647 | |
| Amounts payable | 17/49 | €29,252 | €24,834 | -€4,417 | -15.1% |
| Amounts payable within one year | 42/48 | €29,252 | €24,834 | -€4,417 | -15.1% |
| Trade debts | 44 | €21,474 | €9,397 | -€12,077 | -56.2% |
| Suppliers | 440/4 | €21,474 | €9,397 | -€12,077 | -56.2% |
| Taxes, remuneration and social security | 45 | €7,563 | €10,485 | +€2,923 | +38.6% |
| Taxes | 450/3 | €7,563 | €10,485 | +€2,923 | +38.6% |
| Other amounts payable | 47/48 | €215 | €4,952 | +€4,737 | +2,204% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,700 | €9,276 | +€1,576 | +20.5% |
| Other operating charges | 640/8 | €2,164 | €1,449 | -€715 | -33.0% |
| Non-recurring operating charges | 66A | €191 | €42 | -€149 | -77.8% |
| Gross operating margin | 9900 | €31,695 | €9,996 | -€21,698 | -68.5% |
| Operating profit (loss) | 9901 | €21,639 | -€771 | -€22,410 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €58 | €208 | +€150 | +258% |
| Recurring financial charges | 65 | €58 | €208 | +€150 | +258% |
| Profit (loss) for the period before taxes | 9903 | €21,581 | -€978 | -€22,559 | |
| Income taxes | 67/77 | €7,072 | €1,669 | -€5,403 | -76.4% |
| Profit (loss) for the period | 9904 | €14,509 | -€2,647 | -€17,156 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,509 | -€2,647 | -€17,156 |
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 26 October 2026 via checked.be.