SHILO MS: 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.
SHILO MS
Largest movements
- Tangible fixed assets -€29,780
down €29,780 (-34.8%), from €85,462 to €55,682
- Cash +€4,586
up €4,586 (+94.3%), from €4,862 to €9,448
mainly Depreciation (+€29,780) and Trade debts (+€14,665)
- Deferred charges and accrued income +€2,790
up €2,790 (+46.3%), from €6,031 to €8,821
- Tax, wage and social debts -€32,434
down €32,434 (-65.7%), from €49,341 to €16,907
of which Taxes: -€22,675
- Debts after one year -€23,059
down €23,059 (-50.0%), from €46,075 to €23,016
- Trade debts +€14,665
up €14,665 (+89.9%), from €16,312 to €30,977
- Other debts +€10,703
up €10,703 (+492%), from €2,174 to €12,877
- Current portion of long-term debt +€6,529
up €6,529 (+22.3%), from €29,222 to €35,751
- Gross operating margin -€42,500
down €42,500 (-48.5%), from €87,695 to €45,195
- Staff costs -€38,862
down €38,862 (-100%), from €38,862 to €0
- Other operating charges -€7,088
down €7,088 (-86.5%), from €8,194 to €1,106
- Financial charges +€2,171
up €2,171 (+20.8%), from €10,427 to €12,598
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 | €119,121 | €97,031 | -€22,091 | -18.5% |
| Fixed assets | 21/28 | €85,462 | €55,682 | -€29,780 | -34.8% |
| Tangible fixed assets | 22/27 | €85,462 | €55,682 | -€29,780 | -34.8% |
| Leasing and similar rights | 25 | €85,462 | €55,682 | -€29,780 | -34.8% |
| Current assets | 29/58 | €33,659 | €41,349 | +€7,689 | +22.8% |
| Amounts receivable within one year | 40/41 | €22,766 | €23,080 | +€313 | +1.4% |
| Trade receivables | 40 | €22,766 | €23,080 | +€313 | +1.4% |
| Cash at bank and in hand | 54/58 | €4,862 | €9,448 | +€4,586 | +94.3% |
| Deferred charges and accrued income | 490/1 | €6,031 | €8,821 | +€2,790 | +46.3% |
| Total equity and liabilities | 10/49 | €119,121 | €97,031 | -€22,091 | -18.5% |
| Equity | 10/15 | -€24,003 | -€22,498 | +€1,505 | +6.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,503 | -€24,998 | +€1,505 | +5.7% |
| Amounts payable | 17/49 | €143,124 | €119,528 | -€23,596 | -16.5% |
| Amounts payable after more than one year | 17 | €46,075 | €23,016 | -€23,059 | -50.0% |
| Financial debts | 170/4 | €46,075 | €23,016 | -€23,059 | -50.0% |
| Amounts payable within one year | 42/48 | €97,049 | €96,512 | -€537 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €29,222 | €35,751 | +€6,529 | +22.3% |
| Trade debts | 44 | €16,312 | €30,977 | +€14,665 | +89.9% |
| Suppliers | 440/4 | €16,312 | €30,977 | +€14,665 | +89.9% |
| Taxes, remuneration and social security | 45 | €49,341 | €16,907 | -€32,434 | -65.7% |
| Taxes | 450/3 | €39,583 | €16,907 | -€22,675 | -57.3% |
| Remuneration and social security | 454/9 | €9,758 | - | -€9,758 | |
| Other amounts payable | 47/48 | €2,174 | €12,877 | +€10,703 | +492% |
| Remuneration, social security and pensions | 62 | €38,862 | €0 | -€38,862 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,780 | €29,780 | = | 0.0% |
| Other operating charges | 640/8 | €8,194 | €1,106 | -€7,088 | -86.5% |
| Gross operating margin | 9900 | €87,695 | €45,195 | -€42,500 | -48.5% |
| Operating profit (loss) | 9901 | €10,859 | €14,309 | +€3,450 | +31.8% |
| Financial income | 75/76B | €32 | - | -€32 | |
| Recurring financial income | 75 | €32 | - | -€32 | |
| Financial charges | 65/66B | €10,427 | €12,598 | +€2,171 | +20.8% |
| Recurring financial charges | 65 | €10,427 | €12,598 | +€2,171 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €463 | €1,711 | +€1,248 | +270% |
| Income taxes | 67/77 | €164 | €206 | +€42 | +25.4% |
| Profit (loss) for the period | 9904 | €299 | €1,505 | +€1,206 | +403% |
| Profit (loss) for the period to be appropriated | 9905 | €299 | €1,505 | +€1,206 | +403% |
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 19 October 2026 via checked.be.