SHINE: 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.
SHINE
Largest movements
- Tangible fixed assets -€11,331
down €11,331 (-43.8%), from €25,872 to €14,541
of which Furniture and vehicles: -€10,831
- Receivables within one year +€5,285
up €5,285 (+158%), from €3,335 to €8,620
of which Trade receivables: +€4,752
- Cash -€4,165
down €4,165 (-6.3%), from €65,781 to €61,616
mainly Net result for the year (-€11,395) and Receivables within one year (-€5,285)
- Profit (loss) carried forward -€11,395
down €11,395 (-14.5%), from €78,690 to €67,295
- Gross operating margin -€22,472
down €22,472 (-93.4%), from €24,053 to €1,581
- Taxes -€3,970
no longer reported in 2025 (was €3,970)
- Financial charges -€700
down €700 (-76.4%), from €916 to €216
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 | €94,989 | €84,777 | -€10,211 | -10.7% |
| Fixed assets | 21/28 | €25,872 | €14,541 | -€11,331 | -43.8% |
| Tangible fixed assets | 22/27 | €25,872 | €14,541 | -€11,331 | -43.8% |
| Land and buildings | 22 | €2,577 | €2,077 | -€500 | -19.4% |
| Furniture and vehicles | 24 | €23,296 | €12,464 | -€10,831 | -46.5% |
| Current assets | 29/58 | €69,116 | €70,236 | +€1,120 | +1.6% |
| Amounts receivable within one year | 40/41 | €3,335 | €8,620 | +€5,285 | +158% |
| Trade receivables | 40 | - | €4,752 | +€4,752 | |
| Other amounts receivable | 41 | €3,335 | €3,868 | +€533 | +16.0% |
| Cash at bank and in hand | 54/58 | €65,781 | €61,616 | -€4,165 | -6.3% |
| Total equity and liabilities | 10/49 | €94,989 | €84,777 | -€10,211 | -10.7% |
| Equity | 10/15 | €90,785 | €79,390 | -€11,395 | -12.6% |
| Contributions | 10/11 | €9,800 | €9,800 | = | 0.0% |
| Reserves | 13 | €2,295 | €2,295 | = | 0.0% |
| Distributable reserves | 133 | €2,295 | €2,295 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,690 | €67,295 | -€11,395 | -14.5% |
| Amounts payable | 17/49 | €4,203 | €5,388 | +€1,184 | +28.2% |
| Amounts payable within one year | 42/48 | €4,203 | €5,388 | +€1,184 | +28.2% |
| Trade debts | 44 | €201 | €478 | +€277 | +138% |
| Suppliers | 440/4 | €201 | €478 | +€277 | +138% |
| Taxes, remuneration and social security | 45 | €4,002 | €4,909 | +€907 | +22.7% |
| Taxes | 450/3 | €4,002 | €4,909 | +€907 | +22.7% |
| Non-recurring operating income | 76A | - | €5,539 | +€5,539 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,364 | €11,331 | -€33 | -0.3% |
| Other operating charges | 640/8 | €1,425 | €1,458 | +€33 | +2.3% |
| Gross operating margin | 9900 | €24,053 | €1,581 | -€22,472 | -93.4% |
| Operating profit (loss) | 9901 | €11,264 | -€11,208 | -€22,472 | |
| Financial income | 75/76B | €0 | €29 | +€29 | +57,940% |
| Recurring financial income | 75 | €0 | €29 | +€29 | +57,940% |
| Financial charges | 65/66B | €916 | €216 | -€700 | -76.4% |
| Recurring financial charges | 65 | €916 | €216 | -€700 | -76.4% |
| Profit (loss) for the period before taxes | 9903 | €10,348 | -€11,395 | -€21,743 | |
| Income taxes | 67/77 | €3,970 | - | -€3,970 | |
| Profit (loss) for the period | 9904 | €6,378 | -€11,395 | -€17,774 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,378 | -€11,395 | -€17,774 |
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 24 October 2026 via checked.be.