SHIELD AI: 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.
SHIELD AI
Largest movements
- Receivables within one year +€38,300
up €38,300 (+1094.3%), from €3,500 to €41,800
of which Trade receivables: +€41,800
- Cash +€540
new in 2025: €540
mainly Other debts (+€38,916) and Trade debts (+€35,773)
- Other debts +€38,916
new in 2025: €38,916
- Profit (loss) carried forward -€36,148
down €36,148 (-1624.6%), from -€2,225 to -€38,373
- Trade debts +€35,773
up €35,773 (+1607.8%), from €2,225 to €37,998
- Gross operating margin -€33,548
down €33,548 (-1507.8%), from -€2,225 to -€35,773
- Financial charges +€375
new in 2025: €375
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 | €3,500 | €42,340 | +€38,840 | +1109.7% |
| Current assets | 29/58 | €3,500 | €42,340 | +€38,840 | +1109.7% |
| Amounts receivable within one year | 40/41 | €3,500 | €41,800 | +€38,300 | +1094.3% |
| Trade receivables | 40 | - | €41,800 | +€41,800 | |
| Other amounts receivable | 41 | €3,500 | - | -€3,500 | |
| Cash at bank and in hand | 54/58 | - | €540 | +€540 | |
| Total equity and liabilities | 10/49 | €3,500 | €42,340 | +€38,840 | +1109.7% |
| Equity | 10/15 | €1,275 | -€34,873 | -€36,148 | |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,225 | -€38,373 | -€36,148 | -1624.6% |
| Amounts payable | 17/49 | €2,225 | €77,213 | +€74,988 | +3370.3% |
| Amounts payable within one year | 42/48 | €2,225 | €77,213 | +€74,988 | +3370.3% |
| Trade debts | 44 | €2,225 | €37,998 | +€35,773 | +1607.8% |
| Suppliers | 440/4 | €2,225 | €37,998 | +€35,773 | +1607.8% |
| Taxes, remuneration and social security | 45 | - | €300 | +€300 | |
| Taxes | 450/3 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | - | €38,916 | +€38,916 | |
| Gross operating margin | 9900 | -€2,225 | -€35,773 | -€33,548 | -1507.8% |
| Operating profit (loss) | 9901 | -€2,225 | -€35,773 | -€33,548 | -1507.8% |
| Financial charges | 65/66B | - | €375 | +€375 | |
| Recurring financial charges | 65 | - | €375 | +€375 | |
| Profit (loss) for the period before taxes | 9903 | -€2,225 | -€36,148 | -€33,923 | -1524.6% |
| Profit (loss) for the period | 9904 | -€2,225 | -€36,148 | -€33,923 | -1524.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,225 | -€36,148 | -€33,923 | -1524.6% |
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 28 September 2026 via checked.be.