SHFB: 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.
SHFB
Largest movements
- Tangible fixed assets -€32,705
down €32,705 (-2.4%), from €1.4m to €1.3m
- Profit (loss) carried forward +€37,885
up €37,885 (+3.4%), from €1.1m to €1.2m
- Short-term financial debts -€36,247
down €36,247 (-21.2%), from €171,267 to €135,020
- Current portion of long-term debt -€24,419
down €24,419 (-69.5%), from €35,131 to €10,712
- Gross operating margin -€51,384
down €51,384 (-35.3%), from €145,401 to €94,017
- Taxes +€2,240
up €2,240 (+15.1%), from €14,796 to €17,036
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 | €1,725,258 | €1,695,051 | -€30,207 | -1.8% |
| Fixed assets | 21/28 | €1,360,709 | €1,328,004 | -€32,705 | -2.4% |
| Tangible fixed assets | 22/27 | €1,359,359 | €1,326,654 | -€32,705 | -2.4% |
| Land and buildings | 22 | €1,359,359 | €1,326,654 | -€32,705 | -2.4% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €364,549 | €367,047 | +€2,497 | +0.7% |
| Amounts receivable within one year | 40/41 | €6,956 | €8,524 | +€1,568 | +22.5% |
| Trade receivables | 40 | - | €450 | +€450 | |
| Other amounts receivable | 41 | €6,956 | €8,074 | +€1,118 | +16.1% |
| Current investments | 50/53 | €356,000 | €356,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,593 | €2,523 | +€929 | +58.3% |
| Total equity and liabilities | 10/49 | €1,725,258 | €1,695,051 | -€30,207 | -1.8% |
| Equity | 10/15 | €1,491,569 | €1,529,453 | +€37,885 | +2.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €356,000 | €356,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €356,000 | €356,000 | = | 0.0% |
| Own shares acquired | 1312 | €356,000 | €356,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,115,109 | €1,152,993 | +€37,885 | +3.4% |
| Amounts payable | 17/49 | €233,689 | €165,597 | -€68,092 | -29.1% |
| Amounts payable after more than one year | 17 | €24,971 | €14,258 | -€10,712 | -42.9% |
| Financial debts | 170/4 | €24,971 | €14,258 | -€10,712 | -42.9% |
| Amounts payable within one year | 42/48 | €208,719 | €151,339 | -€57,380 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €35,131 | €10,712 | -€24,419 | -69.5% |
| Financial debts | 43 | €171,267 | €135,020 | -€36,247 | -21.2% |
| Credit institutions | 430/8 | €171,267 | €135,020 | -€36,247 | -21.2% |
| Trade debts | 44 | €450 | €3,352 | +€2,902 | +645.0% |
| Suppliers | 440/4 | €450 | €3,352 | +€2,902 | +645.0% |
| Taxes, remuneration and social security | 45 | €1,871 | €2,255 | +€384 | +20.5% |
| Taxes | 450/3 | €1,871 | €2,255 | +€384 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,705 | €32,705 | = | 0.0% |
| Other operating charges | 640/8 | €960 | €968 | +€7 | +0.8% |
| Gross operating margin | 9900 | €145,401 | €94,017 | -€51,384 | -35.3% |
| Operating profit (loss) | 9901 | €111,736 | €60,345 | -€51,391 | -46.0% |
| Financial income | 75/76B | - | €347 | +€347 | |
| Recurring financial income | 75 | - | €347 | +€347 | |
| Financial charges | 65/66B | €5,377 | €5,771 | +€394 | +7.3% |
| Recurring financial charges | 65 | €5,377 | €5,771 | +€394 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €106,359 | €54,921 | -€51,439 | -48.4% |
| Income taxes | 67/77 | €14,796 | €17,036 | +€2,240 | +15.1% |
| Profit (loss) for the period | 9904 | €91,563 | €37,885 | -€53,678 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €91,563 | €37,885 | -€53,678 | -58.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.