SHETLAND CONSULTING: 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.
SHETLAND CONSULTING
Largest movements
- Receivables within one year -€14,666
down €14,666 (-36.7%), from €40,015 to €25,349
of which Trade receivables: -€8,439
- Tangible fixed assets -€11,732
down €11,732 (-39.6%), from €29,637 to €17,905
- Cash +€11,474
up €11,474 (+8.7%), from €132,223 to €143,697
mainly Other debts (+€131,709) and Net result for the year (+€31,327)
- Reserves -€133,000
down €133,000 (-80.6%), from €165,000 to €32,000
- Other debts +€131,709
up €131,709 (+1,529%), from €8,614 to €140,322
- Current portion of long-term debt -€9,016
down €9,016 (-74.8%), from €12,045 to €3,030
- Debts after one year -€3,030
no longer reported in 2025 (was €3,030)
- Gross operating margin +€3,606
up €3,606 (+7.1%), from €51,093 to €54,699
- Taxes +€814
up €814 (+9.9%), from €8,197 to €9,011
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 | €202,478 | €187,383 | -€15,095 | -7.5% |
| Fixed assets | 21/28 | €29,637 | €17,905 | -€11,732 | -39.6% |
| Tangible fixed assets | 22/27 | €29,637 | €17,905 | -€11,732 | -39.6% |
| Furniture and vehicles | 24 | €29,637 | €17,905 | -€11,732 | -39.6% |
| Current assets | 29/58 | €172,841 | €169,478 | -€3,363 | -1.9% |
| Amounts receivable within one year | 40/41 | €40,015 | €25,349 | -€14,666 | -36.7% |
| Trade receivables | 40 | €30,199 | €21,760 | -€8,439 | -27.9% |
| Other amounts receivable | 41 | €9,816 | €3,589 | -€6,228 | -63.4% |
| Cash at bank and in hand | 54/58 | €132,223 | €143,697 | +€11,474 | +8.7% |
| Deferred charges and accrued income | 490/1 | €603 | €432 | -€171 | -28.4% |
| Total equity and liabilities | 10/49 | €202,478 | €187,383 | -€15,095 | -7.5% |
| Equity | 10/15 | €170,809 | €37,136 | -€133,673 | -78.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €165,000 | €32,000 | -€133,000 | -80.6% |
| Distributable reserves | 133 | €165,000 | €32,000 | -€133,000 | -80.6% |
| Profit (loss) carried forward | 14 | €809 | €136 | -€673 | -83.2% |
| Amounts payable | 17/49 | €31,669 | €150,247 | +€118,578 | +374% |
| Amounts payable after more than one year | 17 | €3,030 | - | -€3,030 | |
| Financial debts | 170/4 | €3,030 | - | -€3,030 | |
| Amounts payable within one year | 42/48 | €28,640 | €150,247 | +€121,607 | +425% |
| Current portion of amounts payable after more than one year | 42 | €12,045 | €3,030 | -€9,016 | -74.8% |
| Trade debts | 44 | €437 | €801 | +€364 | +83.3% |
| Suppliers | 440/4 | €437 | €801 | +€364 | +83.3% |
| Taxes, remuneration and social security | 45 | €7,544 | €6,094 | -€1,450 | -19.2% |
| Taxes | 450/3 | €7,544 | €6,094 | -€1,450 | -19.2% |
| Other amounts payable | 47/48 | €8,614 | €140,322 | +€131,709 | +1,529% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,703 | €13,706 | +€3 | 0.0% |
| Other operating charges | 640/8 | €674 | €508 | -€166 | -24.6% |
| Gross operating margin | 9900 | €51,093 | €54,699 | +€3,606 | +7.1% |
| Operating profit (loss) | 9901 | €36,716 | €40,485 | +€3,769 | +10.3% |
| Financial charges | 65/66B | €284 | €147 | -€137 | -48.3% |
| Recurring financial charges | 65 | €284 | €147 | -€137 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €36,432 | €40,338 | +€3,906 | +10.7% |
| Income taxes | 67/77 | €8,197 | €9,011 | +€814 | +9.9% |
| Profit (loss) for the period | 9904 | €28,235 | €31,327 | +€3,092 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,235 | €31,327 | +€3,092 | +11.0% |
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 31 October 2026 via checked.be.