SHENMEN: 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.
SHENMEN
Largest movements
- Cash -€21,665
down €21,665 (-68.7%), from €31,524 to €9,859
mainly Other debts (-€31,521) and Receivables within one year (-€6,305)
- Receivables within one year +€6,305
up €6,305 (+81.4%), from €7,750 to €14,055
of which Other amounts receivable: +€5,661
- Other debts -€31,521
down €31,521 (-51.8%), from €60,808 to €29,287
- Reserves +€15,352
up €15,352 (+8.1%), from €188,950 to €204,303
- Financial charges +€11,568
up €11,568 (+293.0%), from €3,948 to €15,515
of which Non-recurring financial charges: +€15,153
- Gross operating margin +€10,044
up €10,044 (+33.4%), from €30,083 to €40,127
- Financial income -€5,028
down €5,028 (-96.1%), from €5,231 to €203
- Taxes -€2,316
down €2,316 (-22.2%), from €10,428 to €8,111
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €257,802 | €241,912 | -€15,890 | -6.2% |
| Fixed assets | 21/28 | €2,439 | €1,905 | -€534 | -21.9% |
| Tangible fixed assets | 22/27 | €2,439 | €1,905 | -€534 | -21.9% |
| Plant, machinery and equipment | 23 | €886 | €536 | -€350 | -39.5% |
| Furniture and vehicles | 24 | €1,553 | €1,368 | -€185 | -11.9% |
| Current assets | 29/58 | €255,363 | €240,007 | -€15,355 | -6.0% |
| Amounts receivable within one year | 40/41 | €7,750 | €14,055 | +€6,305 | +81.4% |
| Trade receivables | 40 | - | €643 | +€643 | |
| Other amounts receivable | 41 | €7,750 | €13,411 | +€5,661 | +73.1% |
| Current investments | 50/53 | €215,588 | €215,588 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31,524 | €9,859 | -€21,665 | -68.7% |
| Deferred charges and accrued income | 490/1 | €501 | €506 | +€5 | +1.1% |
| Total equity and liabilities | 10/49 | €257,802 | €241,912 | -€15,890 | -6.2% |
| Equity | 10/15 | €195,150 | €210,503 | +€15,352 | +7.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €188,950 | €204,303 | +€15,352 | +8.1% |
| Distributable reserves | 133 | €188,950 | €204,303 | +€15,352 | +8.1% |
| Amounts payable | 17/49 | €62,651 | €31,409 | -€31,242 | -49.9% |
| Amounts payable within one year | 42/48 | €62,648 | €31,218 | -€31,431 | -50.2% |
| Trade debts | 44 | €1,840 | €1,930 | +€91 | +4.9% |
| Suppliers | 440/4 | €1,840 | €1,930 | +€91 | +4.9% |
| Other amounts payable | 47/48 | €60,808 | €29,287 | -€31,521 | -51.8% |
| Accrued charges and deferred income | 492/3 | €3 | €192 | +€189 | +5949.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €534 | €534 | = | 0.0% |
| Other operating charges | 640/8 | €799 | €817 | +€18 | +2.3% |
| Gross operating margin | 9900 | €30,083 | €40,127 | +€10,044 | +33.4% |
| Operating profit (loss) | 9901 | €28,750 | €38,776 | +€10,026 | +34.9% |
| Financial income | 75/76B | €5,231 | €203 | -€5,028 | -96.1% |
| Recurring financial income | 75 | €5,231 | €203 | -€5,028 | -96.1% |
| Financial charges | 65/66B | €3,948 | €15,515 | +€11,568 | +293.0% |
| Recurring financial charges | 65 | €3,948 | €362 | -€3,585 | -90.8% |
| Non-recurring financial charges | 66B | - | €15,153 | +€15,153 | |
| Profit (loss) for the period before taxes | 9903 | €30,034 | €23,464 | -€6,570 | -21.9% |
| Income taxes | 67/77 | €10,428 | €8,111 | -€2,316 | -22.2% |
| Profit (loss) for the period | 9904 | €19,606 | €15,352 | -€4,253 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,606 | €15,352 | -€4,253 | -21.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.