SHERWOOD: 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.
SHERWOOD
Largest movements
- Current assets -€307,992
down €307,992 (-36.4%), from €846,051 to €538,058
of which Current investments: -€529,896
- Tangible fixed assets +€188,442
up €188,442 (+80.0%), from €235,521 to €423,963
of which Land and buildings: +€408,690
- Equity -€219,220
down €219,220 (-20.8%), from €1.1m to €833,250
of which Profit (loss) carried forward: -€211,655
- Debts within one year +€105,805
up €105,805 (+461%), from €22,966 to €128,771
of which Trade debts: +€92,176
- Turnover -€262,706
no longer reported in 2022 (was €262,706)
- Gross operating margin -€177,453
down €177,453, from €103,813 to -€73,640
- Depreciation +€11,136
up €11,136 (+49.9%), from €22,334 to €33,470
- Financial income +€10,531
new in 2022: €10,531
- Other operating charges +€7,334
new in 2022: €7,334
From the 2019 result to the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2019 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,083,173 | €962,021 | -€121,152 | -11.2% |
| Fixed assets | 21/28 | €237,122 | €423,963 | +€186,841 | +78.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €235,521 | €423,963 | +€188,442 | +80.0% |
| Land and buildings | 22 | - | €408,690 | +€408,690 | |
| Plant, machinery and equipment | 23 | - | €15,273 | +€15,273 | |
| Financial fixed assets | 28 | €1,601 | - | -€1,601 | |
| Current assets | 29/58 | €846,051 | €538,058 | -€307,992 | -36.4% |
| Stocks and contracts in progress | 3 | €112 | €112 | = | 0.0% |
| Stocks | 30/36 | - | €112 | +€112 | |
| Amounts receivable within one year | 40/41 | €283,567 | €221,812 | -€61,755 | -21.8% |
| Trade receivables | 40 | - | €166,684 | +€166,684 | |
| Other amounts receivable | 41 | - | €55,128 | +€55,128 | |
| Current investments | 50/53 | €529,896 | - | -€529,896 | |
| Cash at bank and in hand | 54/58 | €25,722 | €316,134 | +€290,412 | +1,129% |
| Total equity and liabilities | 10/49 | €1,083,173 | €962,021 | -€121,152 | -11.2% |
| Equity | 10/15 | €1,052,470 | €833,250 | -€219,220 | -20.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | - | €61,973 | +€61,973 | |
| Issued capital | 100 | - | €61,973 | +€61,973 | |
| Reserves | 13 | €344,954 | €344,954 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €6,197 | +€6,197 | |
| Legal reserve | 130 | - | €6,197 | +€6,197 | |
| Tax-exempt reserves | 132 | - | €293,757 | +€293,757 | |
| Distributable reserves | 133 | - | €45,000 | +€45,000 | |
| Profit (loss) carried forward | 14 | €637,978 | €426,323 | -€211,655 | -33.2% |
| Provisions and deferred taxes | 16 | €7,737 | - | -€7,737 | |
| Amounts payable | 17/49 | €22,966 | €128,771 | +€105,805 | +461% |
| Amounts payable within one year | 42/48 | €22,966 | €128,771 | +€105,805 | +461% |
| Trade debts | 44 | €14,530 | €106,706 | +€92,176 | +634% |
| Suppliers | 440/4 | - | €106,706 | +€106,706 | |
| Taxes, remuneration and social security | 45 | - | €14,413 | +€14,413 | |
| Taxes | 450/3 | - | €6,413 | +€6,413 | |
| Remuneration and social security | 454/9 | - | €8,000 | +€8,000 | |
| Other amounts payable | 47/48 | - | €7,652 | +€7,652 | |
| Turnover | 70 | €262,706 | - | -€262,706 | |
| Remuneration, social security and pensions | 62 | - | €2,071 | +€2,071 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,334 | €33,470 | +€11,136 | +49.9% |
| Other operating charges | 640/8 | - | €7,334 | +€7,334 | |
| Gross operating margin | 9900 | €103,813 | -€73,640 | -€177,453 | |
| Operating profit (loss) | 9901 | €10,269 | -€116,516 | -€126,785 | |
| Financial income | 75/76B | - | €10,531 | +€10,531 | |
| Recurring financial income | 75 | €819 | €10,531 | +€9,712 | +1,186% |
| Financial charges | 65/66B | - | €158 | +€158 | |
| Recurring financial charges | 65 | €21 | €158 | +€137 | +647% |
| Profit (loss) for the period before taxes | 9903 | €11,705 | -€106,143 | -€117,848 | |
| Income taxes | 67/77 | €1,935 | - | -€1,935 | |
| Profit (loss) for the period | 9904 | €9,770 | -€106,143 | -€115,913 | |
| Transfer from tax-exempt reserves | 789 | - | €45,000 | +€45,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,770 | -€61,143 | -€70,913 |
Source: filed annual accounts (NBB), financial years ended 31 December 2019 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.