SHILLING: 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.
SHILLING
Largest movements
- Receivables within one year -€21,534
down €21,534 (-53.4%), from €40,295 to €18,761
of which Other amounts receivable: -€21,148
- Cash +€18,098
up €18,098 (+112.2%), from €16,136 to €34,235
mainly Tax, wage and social debts (+€27,081) and Receivables within one year (+€21,534)
- Tangible fixed assets -€9,425
down €9,425 (-13.4%), from €70,160 to €60,735
of which Other tangible fixed assets: -€5,838
- Profit (loss) carried forward -€42,634
down €42,634 (-56.1%), from -€76,007 to -€118,641
- Tax, wage and social debts +€27,081
up €27,081 (+38.8%), from €69,750 to €96,831
of which Taxes: +€17,177
- Other debts +€15,524
up €15,524 (+224.4%), from €6,917 to €22,441
- Trade debts -€7,783
down €7,783 (-7.4%), from €104,960 to €97,177
- Debts after one year -€5,030
down €5,030 (-26.5%), from €18,965 to €13,935
of which Financial debts: -€5,030
- Staff costs +€43,001
up €43,001 (+10.3%), from €416,796 to €459,797
- Gross operating margin +€42,618
up €42,618 (+10.3%), from €414,683 to €457,300
- Other operating charges -€9,676
down €9,676 (-68.6%), from €14,114 to €4,439
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 | €140,786 | €128,494 | -€12,292 | -8.7% |
| Fixed assets | 21/28 | €70,160 | €60,735 | -€9,425 | -13.4% |
| Tangible fixed assets | 22/27 | €70,160 | €60,735 | -€9,425 | -13.4% |
| Plant, machinery and equipment | 23 | €22,532 | €23,199 | +€667 | +3.0% |
| Furniture and vehicles | 24 | €6,498 | €2,243 | -€4,255 | -65.5% |
| Other tangible fixed assets | 26 | €41,131 | €35,293 | -€5,838 | -14.2% |
| Current assets | 29/58 | €70,625 | €67,759 | -€2,866 | -4.1% |
| Stocks and contracts in progress | 3 | €12,476 | €11,990 | -€485 | -3.9% |
| Stocks | 30/36 | €12,476 | €11,990 | -€485 | -3.9% |
| Amounts receivable within one year | 40/41 | €40,295 | €18,761 | -€21,534 | -53.4% |
| Trade receivables | 40 | €19,147 | €18,761 | -€386 | -2.0% |
| Other amounts receivable | 41 | €21,148 | €0 | -€21,148 | -100.0% |
| Cash at bank and in hand | 54/58 | €16,136 | €34,235 | +€18,098 | +112.2% |
| Deferred charges and accrued income | 490/1 | €1,719 | €2,773 | +€1,054 | +61.3% |
| Total equity and liabilities | 10/49 | €140,786 | €128,494 | -€12,292 | -8.7% |
| Equity | 10/15 | -€69,807 | -€112,441 | -€42,634 | -61.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,007 | -€118,641 | -€42,634 | -56.1% |
| Amounts payable | 17/49 | €210,593 | €240,936 | +€30,342 | +14.4% |
| Amounts payable after more than one year | 17 | €18,965 | €13,935 | -€5,030 | -26.5% |
| Financial debts | 170/4 | €14,965 | €9,935 | -€5,030 | -33.6% |
| Other amounts payable | 178/9 | €4,000 | €4,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €186,517 | €221,638 | +€35,121 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €4,773 | €5,030 | +€257 | +5.4% |
| Financial debts | 43 | €117 | €159 | +€42 | +35.9% |
| Credit institutions | 430/8 | €117 | €159 | +€42 | +35.9% |
| Trade debts | 44 | €104,960 | €97,177 | -€7,783 | -7.4% |
| Suppliers | 440/4 | €104,960 | €97,177 | -€7,783 | -7.4% |
| Taxes, remuneration and social security | 45 | €69,750 | €96,831 | +€27,081 | +38.8% |
| Taxes | 450/3 | €40,439 | €57,616 | +€17,177 | +42.5% |
| Remuneration and social security | 454/9 | €29,311 | €39,215 | +€9,904 | +33.8% |
| Other amounts payable | 47/48 | €6,917 | €22,441 | +€15,524 | +224.4% |
| Accrued charges and deferred income | 492/3 | €5,111 | €5,362 | +€252 | +4.9% |
| Non-recurring operating income | 76A | €0 | €4,750 | +€4,750 | |
| Remuneration, social security and pensions | 62 | €416,796 | €459,797 | +€43,001 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,408 | €20,051 | -€357 | -1.8% |
| Other operating charges | 640/8 | €14,114 | €4,439 | -€9,676 | -68.6% |
| Non-recurring operating charges | 66A | €365 | €889 | +€524 | +143.5% |
| Gross operating margin | 9900 | €414,683 | €457,300 | +€42,618 | +10.3% |
| Operating profit (loss) | 9901 | -€37,002 | -€27,875 | +€9,126 | +24.7% |
| Financial income | 75/76B | €1,455 | €257 | -€1,198 | -82.4% |
| Recurring financial income | 75 | €1,455 | €257 | -€1,198 | -82.4% |
| Financial charges | 65/66B | €14,081 | €15,016 | +€935 | +6.6% |
| Recurring financial charges | 65 | €14,081 | €15,016 | +€935 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | -€49,628 | -€42,634 | +€6,994 | +14.1% |
| Income taxes | 67/77 | €140 | €0 | -€140 | -100.0% |
| Profit (loss) for the period | 9904 | -€49,767 | -€42,634 | +€7,133 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,767 | -€42,634 | +€7,133 | +14.3% |
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 5 October 2026 via checked.be.