SHEREK CONSTRUCT: 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.
SHEREK CONSTRUCT
Largest movements
- Receivables within one year +€278,928
up €278,928 (+30.4%), from €918,034 to €1.2m
of which Trade receivables: +€280,540
- Cash -€158,092
down €158,092 (-29.1%), from €542,511 to €384,418
mainly Receivables within one year (-€278,928) and Trade debts (-€72,195)
- Reserves +€249,420
up €249,420 (+33.8%), from €738,010 to €987,430
- Trade debts -€72,195
down €72,195 (-12.3%), from €586,940 to €514,745
- Tax, wage and social debts -€48,221
down €48,221 (-34.3%), from €140,771 to €92,550
of which Taxes: -€54,351
- Turnover -€5.2m
no longer reported in 2025 (was €5.2m)
- Purchases and services -€4.8m
no longer reported in 2025 (was €4.8m)
- Gross operating margin +€181,183
up €181,183 (+47.4%), from €381,892 to €563,075
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 | €1,586,859 | €1,719,234 | +€132,374 | +8.3% |
| Formation expenses | 20 | €2,149 | €2,149 | = | 0.0% |
| Fixed assets | 21/28 | €119,201 | €129,414 | +€10,213 | +8.6% |
| Tangible fixed assets | 22/27 | €95,317 | €99,190 | +€3,872 | +4.1% |
| Land and buildings | 22 | €73,717 | €68,476 | -€5,242 | -7.1% |
| Plant, machinery and equipment | 23 | €3,550 | €1,927 | -€1,623 | -45.7% |
| Furniture and vehicles | 24 | €18,050 | €28,787 | +€10,737 | +59.5% |
| Financial fixed assets | 28 | €23,883 | €30,224 | +€6,341 | +26.5% |
| Current assets | 29/58 | €1,465,509 | €1,587,671 | +€122,162 | +8.3% |
| Amounts receivable within one year | 40/41 | €918,034 | €1,196,962 | +€278,928 | +30.4% |
| Trade receivables | 40 | €838,490 | €1,119,031 | +€280,540 | +33.5% |
| Other amounts receivable | 41 | €79,543 | €77,931 | -€1,612 | -2.0% |
| Cash at bank and in hand | 54/58 | €542,511 | €384,418 | -€158,092 | -29.1% |
| Deferred charges and accrued income | 490/1 | €4,965 | €6,291 | +€1,325 | +26.7% |
| Total equity and liabilities | 10/49 | €1,586,859 | €1,719,234 | +€132,374 | +8.3% |
| Equity | 10/15 | €762,010 | €1,011,430 | +€249,420 | +32.7% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €738,010 | €987,430 | +€249,420 | +33.8% |
| Distributable reserves | 133 | €738,010 | €987,430 | +€249,420 | +33.8% |
| Amounts payable | 17/49 | €824,849 | €707,803 | -€117,045 | -14.2% |
| Amounts payable after more than one year | 17 | €43,464 | €35,982 | -€7,482 | -17.2% |
| Financial debts | 170/4 | €43,464 | €35,982 | -€7,482 | -17.2% |
| Amounts payable within one year | 42/48 | €781,384 | €671,822 | -€109,563 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €7,305 | €13,631 | +€6,326 | +86.6% |
| Trade debts | 44 | €586,940 | €514,745 | -€72,195 | -12.3% |
| Suppliers | 440/4 | €586,940 | €514,745 | -€72,195 | -12.3% |
| Taxes, remuneration and social security | 45 | €140,771 | €92,550 | -€48,221 | -34.3% |
| Taxes | 450/3 | €133,130 | €78,779 | -€54,351 | -40.8% |
| Remuneration and social security | 454/9 | €7,640 | €13,770 | +€6,130 | +80.2% |
| Other amounts payable | 47/48 | €46,369 | €50,896 | +€4,527 | +9.8% |
| Turnover | 70 | €5,174,397 | - | -€5.2m | |
| Goods, raw materials, services and sundry goods | 60/61 | €4,823,596 | - | -€4.8m | |
| Remuneration, social security and pensions | 62 | €109,201 | €145,237 | +€36,036 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,103 | €16,103 | -€2,000 | -11.0% |
| Other operating charges | 640/8 | €16,074 | €8,317 | -€7,756 | -48.3% |
| Non-recurring operating charges | 66A | €299 | €4,393 | +€4,094 | +1,369% |
| Gross operating margin | 9900 | €381,892 | €563,075 | +€181,183 | +47.4% |
| Operating profit (loss) | 9901 | €238,215 | €389,024 | +€150,809 | +63.3% |
| Financial income | 75/76B | €14,530 | €37,431 | +€22,901 | +158% |
| Recurring financial income | 75 | €14,530 | €37,431 | +€22,901 | +158% |
| Financial charges | 65/66B | €2,885 | €2,555 | -€330 | -11.5% |
| Recurring financial charges | 65 | €2,885 | €2,555 | -€330 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €249,859 | €423,900 | +€174,040 | +69.7% |
| Income taxes | 67/77 | €71,147 | €115,980 | +€44,834 | +63.0% |
| Profit (loss) for the period | 9904 | €178,713 | €307,920 | +€129,207 | +72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €178,713 | €307,920 | +€129,207 | +72.3% |
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 22 October 2026 via checked.be.