Shine Master: 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.
Shine Master
Largest movements
- Tangible fixed assets +€17,299
up €17,299 (+241.6%), from €7,161 to €24,460
of which Furniture and vehicles: +€17,596
- Cash +€4,595
up €4,595 (+746.3%), from €616 to €5,211
mainly Other debts (+€31,703) and Depreciation (+€1,913)
- Receivables within one year -€1,422
down €1,422 (-23.3%), from €6,101 to €4,680
of which Trade receivables: -€5,232
- Deferred charges and accrued income +€516
up €516 (+95.2%), from €542 to €1,059
- Other debts +€31,703
up €31,703 (+57.3%), from €55,377 to €87,081
- Profit (loss) carried forward -€5,842
down €5,842 (-10.7%), from -€54,837 to -€60,679
- Trade debts -€4,872
down €4,872 (-93.2%), from €5,228 to €355
- Gross operating margin -€12,899
down €12,899, from €12,155 to -€744
- Other operating charges +€2,523
up €2,523 (+527.9%), from €478 to €3,001
- Depreciation +€733
up €733 (+62.1%), from €1,181 to €1,913
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 | €14,420 | €35,410 | +€20,989 | +145.6% |
| Fixed assets | 21/28 | €7,161 | €24,460 | +€17,299 | +241.6% |
| Tangible fixed assets | 22/27 | €7,161 | €24,460 | +€17,299 | +241.6% |
| Plant, machinery and equipment | 23 | €1,227 | €929 | -€297 | -24.2% |
| Furniture and vehicles | 24 | €5,934 | €23,531 | +€17,596 | +296.5% |
| Current assets | 29/58 | €7,259 | €10,949 | +€3,690 | +50.8% |
| Amounts receivable within one year | 40/41 | €6,101 | €4,680 | -€1,422 | -23.3% |
| Trade receivables | 40 | €5,753 | €521 | -€5,232 | -90.9% |
| Other amounts receivable | 41 | €348 | €4,158 | +€3,810 | +1093.9% |
| Cash at bank and in hand | 54/58 | €616 | €5,211 | +€4,595 | +746.3% |
| Deferred charges and accrued income | 490/1 | €542 | €1,059 | +€516 | +95.2% |
| Total equity and liabilities | 10/49 | €14,420 | €35,410 | +€20,989 | +145.6% |
| Equity | 10/15 | -€46,184 | -€52,026 | -€5,842 | -12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,453 | €2,453 | = | 0.0% |
| Non-distributable reserves | 130/1 | €123 | €123 | = | 0.0% |
| Reserves not available under the articles | 1311 | €123 | €123 | = | 0.0% |
| Distributable reserves | 133 | €2,330 | €2,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,837 | -€60,679 | -€5,842 | -10.7% |
| Amounts payable | 17/49 | €60,605 | €87,436 | +€26,831 | +44.3% |
| Amounts payable within one year | 42/48 | €60,605 | €87,436 | +€26,831 | +44.3% |
| Trade debts | 44 | €5,228 | €355 | -€4,872 | -93.2% |
| Suppliers | 440/4 | €5,228 | €355 | -€4,872 | -93.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €55,377 | €87,081 | +€31,703 | +57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,181 | €1,913 | +€733 | +62.1% |
| Other operating charges | 640/8 | €478 | €3,001 | +€2,523 | +527.9% |
| Gross operating margin | 9900 | €12,155 | -€744 | -€12,899 | |
| Operating profit (loss) | 9901 | €10,496 | -€5,658 | -€16,154 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €249 | €184 | -€64 | -25.9% |
| Recurring financial charges | 65 | €249 | €184 | -€64 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €10,248 | -€5,842 | -€16,090 | |
| Profit (loss) for the period | 9904 | €10,248 | -€5,842 | -€16,090 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,248 | -€5,842 | -€16,090 |
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.