SHINKA IT: 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.
SHINKA IT
Largest movements
- Receivables within one year +€1.9m
up €1.9m (+53.7%), from €3.6m to €5.5m
of which Trade receivables: +€2.4m
- Current investments +€614,390
up €614,390 (+190%), from €323,256 to €937,646
- Stocks and contracts +€528,959
up €528,959 (+65.3%), from €810,267 to €1.3m
- Cash +€463,993
up €463,993 (+281%), from €165,170 to €629,163
mainly Trade debts (+€2.9m) and Short-term financial debts (+€428,927)
- Intangible fixed assets +€164,150
up €164,150 (+2,642%), from €6,213 to €170,362
- Trade debts +€2.9m
up €2.9m (+153%), from €1.9m to €4.9m
of which Suppliers: +€2.5m
- Reserves +€614,390
up €614,390 (+169%), from €362,736 to €977,126
of which Non-distributable reserves: +€614,390
- Profit (loss) carried forward -€473,346
down €473,346 (-31.2%), from €1.5m to €1.0m
- Short-term financial debts +€428,927
up €428,927 (+179%), from €240,182 to €669,108
- Accrued charges and deferred income +€99,000
up €99,000 (+34.0%), from €291,414 to €390,414
- Gross operating margin +€806,325
up €806,325 (+27.0%), from €3.0m to €3.8m
- Staff costs +€489,172
up €489,172 (+18.5%), from €2.6m to €3.1m
- Taxes +€78,905
up €78,905 (+100%), from €78,578 to €157,483
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 | €5,299,471 | €8,943,569 | +€3.6m | +68.8% |
| Fixed assets | 21/28 | €337,968 | €418,456 | +€80,488 | +23.8% |
| Intangible fixed assets | 21 | €6,213 | €170,362 | +€164,150 | +2,642% |
| Tangible fixed assets | 22/27 | €298,975 | €231,744 | -€67,231 | -22.5% |
| Plant, machinery and equipment | 23 | €39,746 | €30,438 | -€9,308 | -23.4% |
| Furniture and vehicles | 24 | €259,230 | €201,306 | -€57,924 | -22.3% |
| Financial fixed assets | 28 | €32,780 | €16,350 | -€16,430 | -50.1% |
| Current assets | 29/58 | €4,961,504 | €8,525,112 | +€3.6m | +71.8% |
| Stocks and contracts in progress | 3 | €810,267 | €1,339,227 | +€528,959 | +65.3% |
| Stocks | 30/36 | €810,267 | €1,339,227 | +€528,959 | +65.3% |
| Amounts receivable within one year | 40/41 | €3,574,235 | €5,494,306 | +€1.9m | +53.7% |
| Trade receivables | 40 | €3,072,778 | €5,424,378 | +€2.4m | +76.5% |
| Other amounts receivable | 41 | €501,457 | €69,928 | -€431,528 | -86.1% |
| Current investments | 50/53 | €323,256 | €937,646 | +€614,390 | +190% |
| Cash at bank and in hand | 54/58 | €165,170 | €629,163 | +€463,993 | +281% |
| Deferred charges and accrued income | 490/1 | €88,576 | €124,770 | +€36,194 | +40.9% |
| Total equity and liabilities | 10/49 | €5,299,471 | €8,943,569 | +€3.6m | +68.8% |
| Equity | 10/15 | €1,897,404 | €2,038,448 | +€141,044 | +7.4% |
| Contributions | 10/11 | €19,800 | €19,800 | = | 0.0% |
| Reserves | 13 | €362,736 | €977,126 | +€614,390 | +169% |
| Non-distributable reserves | 130/1 | €323,256 | €937,646 | +€614,390 | +190% |
| Own shares acquired | 1312 | €323,256 | €937,646 | +€614,390 | +190% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,980 | €1,980 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,514,868 | €1,041,522 | -€473,346 | -31.2% |
| Amounts payable | 17/49 | €3,402,067 | €6,905,120 | +€3.5m | +103% |
| Amounts payable after more than one year | 17 | €103,788 | €76,594 | -€27,194 | -26.2% |
| Financial debts | 170/4 | €103,788 | €76,594 | -€27,194 | -26.2% |
| Amounts payable within one year | 42/48 | €3,006,865 | €6,438,112 | +€3.4m | +114% |
| Current portion of amounts payable after more than one year | 42 | €99,953 | €122,594 | +€22,641 | +22.7% |
| Financial debts | 43 | €240,182 | €669,108 | +€428,927 | +179% |
| Credit institutions | 430/8 | €240,182 | €669,108 | +€428,927 | +179% |
| Trade debts | 44 | €1,918,556 | €4,859,778 | +€2.9m | +153% |
| Suppliers | 440/4 | €1,893,858 | €4,439,778 | +€2.5m | +134% |
| Bills of exchange payable | 441 | €24,699 | €420,000 | +€395,302 | +1,601% |
| Taxes, remuneration and social security | 45 | €621,524 | €619,207 | -€2,317 | -0.4% |
| Taxes | 450/3 | €231,127 | €105,450 | -€125,678 | -54.4% |
| Remuneration and social security | 454/9 | €390,397 | €513,758 | +€123,361 | +31.6% |
| Other amounts payable | 47/48 | €126,650 | €167,425 | +€40,775 | +32.2% |
| Accrued charges and deferred income | 492/3 | €291,414 | €390,414 | +€99,000 | +34.0% |
| Remuneration, social security and pensions | 62 | €2,646,438 | €3,135,610 | +€489,172 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,379 | €100,788 | +€28,409 | +39.2% |
| Other operating charges | 640/8 | €11,699 | €14,459 | +€2,760 | +23.6% |
| Gross operating margin | 9900 | €2,981,482 | €3,787,807 | +€806,325 | +27.0% |
| Operating profit (loss) | 9901 | €250,966 | €536,950 | +€285,984 | +114% |
| Financial income | 75/76B | €26,788 | €16,471 | -€10,317 | -38.5% |
| Recurring financial income | 75 | €26,788 | €16,471 | -€10,317 | -38.5% |
| Financial charges | 65/66B | €70,284 | €87,469 | +€17,185 | +24.5% |
| Recurring financial charges | 65 | €70,284 | €87,469 | +€17,185 | +24.5% |
| Profit (loss) for the period before taxes | 9903 | €207,470 | €465,952 | +€258,482 | +125% |
| Income taxes | 67/77 | €78,578 | €157,483 | +€78,905 | +100% |
| Profit (loss) for the period | 9904 | €128,892 | €308,469 | +€179,577 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €128,892 | €308,469 | +€179,577 | +139% |
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 27 October 2026 via checked.be.