SHINE UGOKI: 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 UGOKI
Largest movements
- Stocks and contracts +€78,025
up €78,025 (+23.1%), from €337,930 to €415,955
- Cash -€69,936
down €69,936 (-88.9%), from €78,625 to €8,689
mainly Stocks and contracts (-€78,025) and Receivables within one year (-€41,820)
- Receivables within one year +€41,820
up €41,820 (+1882.9%), from €2,221 to €44,041
- Tangible fixed assets -€11,344
down €11,344 (-54.4%), from €20,868 to €9,524
of which Furniture and vehicles: -€9,777
- Intangible fixed assets -€7,500
down €7,500 (-15.5%), from €48,350 to €40,850
- Tax, wage and social debts +€34,081
up €34,081 (+90.9%), from €37,493 to €71,574
of which Remuneration and social security: +€20,848
- Other debts -€26,561
down €26,561 (-62.7%), from €42,357 to €15,796
- Profit (loss) carried forward +€26,063
up €26,063 (+94.5%), from €27,591 to €53,654
- Trade debts -€20,345
down €20,345 (-5.4%), from €374,002 to €353,657
- Short-term financial debts +€17,827
new in 2025: €17,827
- Turnover +€28,776
up €28,776 (+4.3%), from €667,887 to €696,663
- Staff costs +€28,344
up €28,344 (+91.3%), from €31,046 to €59,390
- Purchases and services +€19,743
up €19,743 (+3.5%), from €564,013 to €583,756
- Gross operating margin +€9,033
up €9,033 (+8.7%), from €103,874 to €112,907
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 | €487,994 | €519,059 | +€31,065 | +6.4% |
| Fixed assets | 21/28 | €69,218 | €50,374 | -€18,844 | -27.2% |
| Intangible fixed assets | 21 | €48,350 | €40,850 | -€7,500 | -15.5% |
| Tangible fixed assets | 22/27 | €20,868 | €9,524 | -€11,344 | -54.4% |
| Plant, machinery and equipment | 23 | €667 | - | -€667 | |
| Furniture and vehicles | 24 | €17,501 | €7,724 | -€9,777 | -55.9% |
| Leasing and similar rights | 25 | €2,700 | €1,800 | -€900 | -33.3% |
| Current assets | 29/58 | €418,776 | €468,685 | +€49,909 | +11.9% |
| Stocks and contracts in progress | 3 | €337,930 | €415,955 | +€78,025 | +23.1% |
| Stocks | 30/36 | €337,930 | €415,955 | +€78,025 | +23.1% |
| Amounts receivable within one year | 40/41 | €2,221 | €44,041 | +€41,820 | +1882.9% |
| Trade receivables | 40 | €2,221 | €44,041 | +€41,820 | +1882.9% |
| Cash at bank and in hand | 54/58 | €78,625 | €8,689 | -€69,936 | -88.9% |
| Total equity and liabilities | 10/49 | €487,994 | €519,059 | +€31,065 | +6.4% |
| Equity | 10/15 | €34,142 | €60,205 | +€26,063 | +76.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €351 | €351 | = | 0.0% |
| Non-distributable reserves | 130/1 | €351 | €351 | = | 0.0% |
| Legal reserve | 130 | €351 | - | -€351 | |
| Reserves not available under the articles | 1311 | - | €351 | +€351 | |
| Profit (loss) carried forward | 14 | €27,591 | €53,654 | +€26,063 | +94.5% |
| Amounts payable | 17/49 | €453,852 | €458,854 | +€5,002 | +1.1% |
| Amounts payable within one year | 42/48 | €453,852 | €458,854 | +€5,002 | +1.1% |
| Financial debts | 43 | - | €17,827 | +€17,827 | |
| Credit institutions | 430/8 | - | €17,827 | +€17,827 | |
| Trade debts | 44 | €374,002 | €353,657 | -€20,345 | -5.4% |
| Suppliers | 440/4 | €374,002 | €353,657 | -€20,345 | -5.4% |
| Taxes, remuneration and social security | 45 | €37,493 | €71,574 | +€34,081 | +90.9% |
| Taxes | 450/3 | €7,679 | €20,912 | +€13,233 | +172.3% |
| Remuneration and social security | 454/9 | €29,814 | €50,662 | +€20,848 | +69.9% |
| Other amounts payable | 47/48 | €42,357 | €15,796 | -€26,561 | -62.7% |
| Turnover | 70 | €667,887 | €696,663 | +€28,776 | +4.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €564,013 | €583,756 | +€19,743 | +3.5% |
| Remuneration, social security and pensions | 62 | €31,046 | €59,390 | +€28,344 | +91.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,165 | €18,844 | +€1,679 | +9.8% |
| Other operating charges | 640/8 | €1,271 | €898 | -€373 | -29.3% |
| Gross operating margin | 9900 | €103,874 | €112,907 | +€9,033 | +8.7% |
| Operating profit (loss) | 9901 | €54,392 | €33,775 | -€20,617 | -37.9% |
| Financial charges | 65/66B | €1,496 | €1,196 | -€300 | -20.1% |
| Recurring financial charges | 65 | €1,496 | €1,196 | -€300 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €52,896 | €32,579 | -€20,317 | -38.4% |
| Income taxes | 67/77 | - | €6,516 | +€6,516 | |
| Profit (loss) for the period | 9904 | €52,896 | €26,063 | -€26,833 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,896 | €26,063 | -€26,833 | -50.7% |
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 8 October 2026 via checked.be.