SHINE ON: 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 ON
Largest movements
- Receivables within one year +€5,705
up €5,705 (+42.3%), from €13,475 to €19,179
of which Trade receivables: +€5,719
- Deferred charges and accrued income -€2,575
down €2,575 (-100%), from €2,575 to €0
- Cash -€1,596
down €1,596 (-97.7%), from €1,634 to €38
mainly Other debts (-€11,975) and Trade debts (-€6,341)
- Profit (loss) carried forward +€17,791
up €17,791 (+67.8%), from -€26,245 to -€8,454
- Other debts -€11,975
down €11,975 (-47.7%), from €25,117 to €13,142
- Trade debts -€6,341
down €6,341 (-55.4%), from €11,447 to €5,107
- Tax, wage and social debts +€2,311
up €2,311 (+45.2%), from €5,111 to €7,422
- Accrued charges and deferred income -€254
down €254 (-100%), from €254 to €0
- Gross operating margin +€7,262
up €7,262 (+50.1%), from €14,499 to €21,761
- Other operating charges +€1,095
up €1,095 (+86.7%), from €1,262 to €2,357
- Financial charges +€772
up €772 (+86.0%), from €898 to €1,670
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 | €17,684 | €19,217 | +€1,533 | +8.7% |
| Current assets | 29/58 | €17,684 | €19,217 | +€1,533 | +8.7% |
| Amounts receivable within one year | 40/41 | €13,475 | €19,179 | +€5,705 | +42.3% |
| Trade receivables | 40 | €13,460 | €19,179 | +€5,719 | +42.5% |
| Other amounts receivable | 41 | €14 | €0 | -€14 | -100% |
| Cash at bank and in hand | 54/58 | €1,634 | €38 | -€1,596 | -97.7% |
| Deferred charges and accrued income | 490/1 | €2,575 | €0 | -€2,575 | -100% |
| Total equity and liabilities | 10/49 | €17,684 | €19,217 | +€1,533 | +8.7% |
| Equity | 10/15 | -€24,245 | -€6,454 | +€17,791 | +73.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,245 | -€8,454 | +€17,791 | +67.8% |
| Amounts payable | 17/49 | €41,929 | €25,671 | -€16,258 | -38.8% |
| Amounts payable within one year | 42/48 | €41,675 | €25,671 | -€16,004 | -38.4% |
| Trade debts | 44 | €11,447 | €5,107 | -€6,341 | -55.4% |
| Suppliers | 440/4 | €11,447 | €5,107 | -€6,341 | -55.4% |
| Taxes, remuneration and social security | 45 | €5,111 | €7,422 | +€2,311 | +45.2% |
| Taxes | 450/3 | €5,111 | €7,422 | +€2,311 | +45.2% |
| Other amounts payable | 47/48 | €25,117 | €13,142 | -€11,975 | -47.7% |
| Accrued charges and deferred income | 492/3 | €254 | €0 | -€254 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,262 | €2,357 | +€1,095 | +86.7% |
| Gross operating margin | 9900 | €14,499 | €21,761 | +€7,262 | +50.1% |
| Operating profit (loss) | 9901 | €13,237 | €19,404 | +€6,167 | +46.6% |
| Financial income | 75/76B | €0 | €198 | +€197 | +43,884% |
| Recurring financial income | 75 | €0 | €198 | +€197 | +43,884% |
| Financial charges | 65/66B | €898 | €1,670 | +€772 | +86.0% |
| Recurring financial charges | 65 | €898 | €1,670 | +€772 | +86.0% |
| Profit (loss) for the period before taxes | 9903 | €12,340 | €17,932 | +€5,592 | +45.3% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €12,200 | €17,791 | +€5,591 | +45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,200 | €17,791 | +€5,591 | +45.8% |
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 22 October 2026 via checked.be.