SHIANA: 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.
SHIANA
Largest movements
- Tangible fixed assets +€187,299
up €187,299 (+103%), from €181,410 to €368,708
of which Furniture and vehicles: +€125,445
- Current investments +€117,775
up €117,775 (+51.0%), from €231,122 to €348,897
- Cash -€58,277
down €58,277 (-8.4%), from €693,922 to €635,645
mainly Investment in fixed assets (net) (-€311,863) and Current investments (-€117,775)
- Deferred charges and accrued income +€45,698
up €45,698 (+103%), from €44,549 to €90,247
- Receivables within one year -€42,802
down €42,802 (-30.5%), from €140,402 to €97,600
of which Trade receivables: -€51,717
- Debts after one year +€123,624
up €123,624 (+70.4%), from €175,614 to €299,238
- Reserves +€118,906
up €118,906 (+12.9%), from €920,261 to €1.0m
- Current portion of long-term debt +€103,691
up €103,691 (+70.8%), from €146,503 to €250,194
- Other debts -€36,035
down €36,035 (-21.3%), from €169,179 to €133,144
- Tax, wage and social debts -€25,139
down €25,139 (-35.5%), from €70,783 to €45,644
of which Taxes: -€15,204
- Gross operating margin -€72,758
down €72,758 (-11.4%), from €638,899 to €566,141
- Staff costs -€40,434
down €40,434 (-15.1%), from €268,202 to €227,769
- Depreciation +€32,463
up €32,463 (+35.2%), from €92,102 to €124,564
- Write-downs -€24,400
down €24,400, from €100 to -€24,300
- Taxes -€19,144
down €19,144 (-27.1%), from €70,515 to €51,371
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 | €1,681,776 | €1,966,468 | +€284,693 | +16.9% |
| Fixed assets | 21/28 | €181,782 | €369,080 | +€187,299 | +103% |
| Tangible fixed assets | 22/27 | €181,410 | €368,708 | +€187,299 | +103% |
| Land and buildings | 22 | €26,528 | €73,152 | +€46,624 | +176% |
| Plant, machinery and equipment | 23 | €64,420 | €105,690 | +€41,270 | +64.1% |
| Furniture and vehicles | 24 | €8,799 | €134,244 | +€125,445 | +1,426% |
| Other tangible fixed assets | 26 | €81,663 | €55,622 | -€26,040 | -31.9% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €1,499,994 | €1,597,388 | +€97,394 | +6.5% |
| Amounts receivable after more than one year | 29 | €390,000 | €390,000 | = | 0.0% |
| Trade receivables | 290 | €390,000 | €390,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €35,000 | +€35,000 | |
| Contracts in progress | 37 | - | €35,000 | +€35,000 | |
| Amounts receivable within one year | 40/41 | €140,402 | €97,600 | -€42,802 | -30.5% |
| Trade receivables | 40 | €81,490 | €29,773 | -€51,717 | -63.5% |
| Other amounts receivable | 41 | €58,912 | €67,827 | +€8,915 | +15.1% |
| Current investments | 50/53 | €231,122 | €348,897 | +€117,775 | +51.0% |
| Cash at bank and in hand | 54/58 | €693,922 | €635,645 | -€58,277 | -8.4% |
| Deferred charges and accrued income | 490/1 | €44,549 | €90,247 | +€45,698 | +103% |
| Total equity and liabilities | 10/49 | €1,681,776 | €1,966,468 | +€284,693 | +16.9% |
| Equity | 10/15 | €935,305 | €1,054,211 | +€118,906 | +12.7% |
| Contributions | 10/11 | €15,044 | €15,044 | = | 0.0% |
| Reserves | 13 | €920,261 | €1,039,167 | +€118,906 | +12.9% |
| Distributable reserves | 133 | €920,261 | €1,039,167 | +€118,906 | +12.9% |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €716,471 | €882,258 | +€165,787 | +23.1% |
| Amounts payable after more than one year | 17 | €175,614 | €299,238 | +€123,624 | +70.4% |
| Financial debts | 170/4 | €175,614 | €299,238 | +€123,624 | +70.4% |
| Amounts payable within one year | 42/48 | €492,814 | €517,971 | +€25,156 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €146,503 | €250,194 | +€103,691 | +70.8% |
| Trade debts | 44 | €96,039 | €80,000 | -€16,039 | -16.7% |
| Suppliers | 440/4 | €96,039 | €80,000 | -€16,039 | -16.7% |
| Advances received on contracts in progress | 46 | €10,311 | €8,989 | -€1,322 | -12.8% |
| Taxes, remuneration and social security | 45 | €70,783 | €45,644 | -€25,139 | -35.5% |
| Taxes | 450/3 | €27,287 | €12,084 | -€15,204 | -55.7% |
| Remuneration and social security | 454/9 | €43,495 | €33,560 | -€9,935 | -22.8% |
| Other amounts payable | 47/48 | €169,179 | €133,144 | -€36,035 | -21.3% |
| Accrued charges and deferred income | 492/3 | €48,043 | €65,049 | +€17,006 | +35.4% |
| Remuneration, social security and pensions | 62 | €268,202 | €227,769 | -€40,434 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,102 | €124,564 | +€32,463 | +35.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €100 | -€24,300 | -€24,400 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,000 | - | +€3,000 | |
| Other operating charges | 640/8 | €7,732 | €9,378 | +€1,646 | +21.3% |
| Non-recurring operating charges | 66A | €1,000 | - | -€1,000 | |
| Gross operating margin | 9900 | €638,899 | €566,141 | -€72,758 | -11.4% |
| Operating profit (loss) | 9901 | €272,763 | €228,730 | -€44,033 | -16.1% |
| Financial income | 75/76B | €10,021 | €13,557 | +€3,536 | +35.3% |
| Recurring financial income | 75 | €10,021 | €13,557 | +€3,536 | +35.3% |
| Financial charges | 65/66B | €14,826 | €27,010 | +€12,184 | +82.2% |
| Recurring financial charges | 65 | €14,826 | €27,010 | +€12,184 | +82.2% |
| Profit (loss) for the period before taxes | 9903 | €267,958 | €215,277 | -€52,681 | -19.7% |
| Income taxes | 67/77 | €70,515 | €51,371 | -€19,144 | -27.1% |
| Profit (loss) for the period | 9904 | €197,443 | €163,906 | -€33,537 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €197,443 | €163,906 | -€33,537 | -17.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.