SHESIN CONSTRUCT: 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.
SHESIN CONSTRUCT
Largest movements
- Receivables within one year -€17,346
down €17,346 (-55.8%), from €31,072 to €13,726
of which Trade receivables: -€18,364
- Tangible fixed assets -€4,838
down €4,838 (-78.6%), from €6,159 to €1,321
- Cash +€2,431
up €2,431 (+82.7%), from €2,938 to €5,368
mainly Receivables within one year (+€17,346) and Depreciation (+€4,838)
- Stocks and contracts +€2,019
up €2,019 (+15.3%), from €13,221 to €15,240
- Profit (loss) carried forward -€12,334
down €12,334 (-35.8%), from €34,413 to €22,079
- Tax, wage and social debts -€4,528
down €4,528 (-55.0%), from €8,241 to €3,712
of which Taxes: -€6,328
- Trade debts -€1,062
down €1,062 (-18.5%), from €5,736 to €4,673
- Gross operating margin -€16,969
down €16,969, from €12,299 to -€4,671
- Taxes +€1,463
new in 2025: €1,463
- Other operating charges +€903
up €903 (+232.9%), from €388 to €1,291
- Depreciation +€293
up €293 (+6.4%), from €4,545 to €4,838
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.
Cash bridge derived
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 | €53,389 | €35,655 | -€17,735 | -33.2% |
| Fixed assets | 21/28 | €6,159 | €1,321 | -€4,838 | -78.6% |
| Tangible fixed assets | 22/27 | €6,159 | €1,321 | -€4,838 | -78.6% |
| Furniture and vehicles | 24 | €6,159 | €1,321 | -€4,838 | -78.6% |
| Current assets | 29/58 | €47,231 | €34,334 | -€12,897 | -27.3% |
| Stocks and contracts in progress | 3 | €13,221 | €15,240 | +€2,019 | +15.3% |
| Contracts in progress | 37 | €13,221 | €15,240 | +€2,019 | +15.3% |
| Amounts receivable within one year | 40/41 | €31,072 | €13,726 | -€17,346 | -55.8% |
| Trade receivables | 40 | €25,084 | €6,720 | -€18,364 | -73.2% |
| Other amounts receivable | 41 | €5,988 | €7,006 | +€1,018 | +17.0% |
| Cash at bank and in hand | 54/58 | €2,938 | €5,368 | +€2,431 | +82.7% |
| Total equity and liabilities | 10/49 | €53,389 | €35,655 | -€17,735 | -33.2% |
| Equity | 10/15 | €39,413 | €27,079 | -€12,334 | -31.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,413 | €22,079 | -€12,334 | -35.8% |
| Amounts payable | 17/49 | €13,976 | €8,576 | -€5,401 | -38.6% |
| Amounts payable within one year | 42/48 | €13,976 | €8,576 | -€5,401 | -38.6% |
| Trade debts | 44 | €5,736 | €4,673 | -€1,062 | -18.5% |
| Suppliers | 440/4 | €5,736 | €4,673 | -€1,062 | -18.5% |
| Taxes, remuneration and social security | 45 | €8,241 | €3,712 | -€4,528 | -55.0% |
| Taxes | 450/3 | €8,241 | €1,912 | -€6,328 | -76.8% |
| Remuneration and social security | 454/9 | - | €1,800 | +€1,800 | |
| Other amounts payable | 47/48 | - | €190 | +€190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,545 | €4,838 | +€293 | +6.4% |
| Other operating charges | 640/8 | €388 | €1,291 | +€903 | +232.9% |
| Gross operating margin | 9900 | €12,299 | -€4,671 | -€16,969 | |
| Operating profit (loss) | 9901 | €7,366 | -€10,799 | -€18,165 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €53 | €72 | +€20 | +37.5% |
| Recurring financial charges | 65 | €53 | €72 | +€20 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €7,313 | -€10,871 | -€18,185 | |
| Income taxes | 67/77 | - | €1,463 | +€1,463 | |
| Profit (loss) for the period | 9904 | €7,313 | -€12,334 | -€19,647 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,313 | -€12,334 | -€19,647 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.