SHI CONSULT: 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.
SHI CONSULT
Largest movements
- Cash +€176,048
up €176,048 (+415%), from €42,426 to €218,474
mainly Net result for the year (+€186,017) and Receivables within one year (+€125,801)
- Current investments +€134,999
up €134,999 (+36.0%), from €375,000 to €509,999
- Receivables within one year -€125,801
down €125,801 (-92.4%), from €136,150 to €10,349
of which Trade receivables: -€127,223
- Reserves +€186,017
up €186,017 (+45.3%), from €411,030 to €597,046
- Gross operating margin -€30,839
down €30,839 (-10.6%), from €290,716 to €259,877
- Taxes -€8,811
down €8,811 (-9.4%), from €93,819 to €85,008
- Financial income +€5,427
up €5,427 (+67.8%), from €8,010 to €13,436
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 | €557,638 | €741,003 | +€183,365 | +32.9% |
| Formation expenses | 20 | €632 | €362 | -€270 | -42.7% |
| Fixed assets | 21/28 | €1,745 | €758 | -€988 | -56.6% |
| Tangible fixed assets | 22/27 | €1,745 | €758 | -€988 | -56.6% |
| Furniture and vehicles | 24 | €1,745 | €758 | -€988 | -56.6% |
| Current assets | 29/58 | €555,261 | €739,883 | +€184,623 | +33.2% |
| Amounts receivable within one year | 40/41 | €136,150 | €10,349 | -€125,801 | -92.4% |
| Trade receivables | 40 | €132,381 | €5,158 | -€127,223 | -96.1% |
| Other amounts receivable | 41 | €3,769 | €5,191 | +€1,422 | +37.7% |
| Current investments | 50/53 | €375,000 | €509,999 | +€134,999 | +36.0% |
| Cash at bank and in hand | 54/58 | €42,426 | €218,474 | +€176,048 | +415% |
| Deferred charges and accrued income | 490/1 | €1,685 | €1,062 | -€623 | -37.0% |
| Total equity and liabilities | 10/49 | €557,638 | €741,003 | +€183,365 | +32.9% |
| Equity | 10/15 | €411,030 | €597,046 | +€186,017 | +45.3% |
| Reserves | 13 | €411,030 | €597,046 | +€186,017 | +45.3% |
| Distributable reserves | 133 | €411,030 | €597,046 | +€186,017 | +45.3% |
| Amounts payable | 17/49 | €146,608 | €143,957 | -€2,651 | -1.8% |
| Amounts payable within one year | 42/48 | €146,608 | €143,957 | -€2,651 | -1.8% |
| Trade debts | 44 | €6,521 | €6,419 | -€102 | -1.6% |
| Suppliers | 440/4 | €6,521 | €6,419 | -€102 | -1.6% |
| Taxes, remuneration and social security | 45 | €137,560 | €137,538 | -€22 | 0.0% |
| Taxes | 450/3 | €137,560 | €137,538 | -€22 | 0.0% |
| Other amounts payable | 47/48 | €2,527 | €0 | -€2,527 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,258 | €1,258 | = | 0.0% |
| Other operating charges | 640/8 | €636 | €829 | +€193 | +30.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €290,716 | €259,877 | -€30,839 | -10.6% |
| Operating profit (loss) | 9901 | €288,822 | €257,790 | -€31,032 | -10.7% |
| Financial income | 75/76B | €8,010 | €13,436 | +€5,427 | +67.8% |
| Recurring financial income | 75 | €8,010 | €13,436 | +€5,427 | +67.8% |
| Financial charges | 65/66B | €216 | €201 | -€15 | -6.9% |
| Recurring financial charges | 65 | €216 | €201 | -€15 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €296,615 | €271,025 | -€25,590 | -8.6% |
| Income taxes | 67/77 | €93,819 | €85,008 | -€8,811 | -9.4% |
| Profit (loss) for the period | 9904 | €202,796 | €186,017 | -€16,779 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €202,796 | €186,017 | -€16,779 | -8.3% |
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 14 October 2026 via checked.be.