Shinman Group: 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.
Shinman Group
Largest movements
- Tangible fixed assets -€41,015
down €41,015 (-5.8%), from €709,075 to €668,059
of which Land and buildings: -€30,919
- Receivables within one year -€18,270
down €18,270 (-76.7%), from €23,819 to €5,549
of which Trade receivables: -€19,950
- Profit (loss) carried forward -€34,803
down €34,803 (-14.5%), from €240,512 to €205,709
- Debts after one year -€32,630
down €32,630 (-6.3%), from €519,307 to €486,677
- Gross operating margin -€113,350
down €113,350 (-66.0%), from €171,675 to €58,325
- Taxes +€33,407
up €33,407 (+332%), from €10,060 to €43,467
- Depreciation +€7,031
up €7,031 (+33.2%), from €21,188 to €28,219
- Financial charges +€4,538
up €4,538 (+34.1%), from €13,328 to €17,866
- Other operating charges -€2,970
down €2,970 (-52.2%), from €5,687 to €2,717
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 | €806,110 | €749,991 | -€56,119 | -7.0% |
| Fixed assets | 21/28 | €709,075 | €668,059 | -€41,015 | -5.8% |
| Tangible fixed assets | 22/27 | €709,075 | €668,059 | -€41,015 | -5.8% |
| Land and buildings | 22 | €667,560 | €636,641 | -€30,919 | -4.6% |
| Plant, machinery and equipment | 23 | €3,405 | €4,088 | +€683 | +20.1% |
| Furniture and vehicles | 24 | €38,109 | €27,330 | -€10,779 | -28.3% |
| Current assets | 29/58 | €97,035 | €81,932 | -€15,104 | -15.6% |
| Amounts receivable within one year | 40/41 | €23,819 | €5,549 | -€18,270 | -76.7% |
| Trade receivables | 40 | €22,973 | €3,023 | -€19,950 | -86.8% |
| Other amounts receivable | 41 | €846 | €2,526 | +€1,680 | +199% |
| Cash at bank and in hand | 54/58 | €71,348 | €74,269 | +€2,921 | +4.1% |
| Deferred charges and accrued income | 490/1 | €1,868 | €2,114 | +€246 | +13.2% |
| Total equity and liabilities | 10/49 | €806,110 | €749,991 | -€56,119 | -7.0% |
| Equity | 10/15 | €246,712 | €211,909 | -€34,803 | -14.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,512 | €205,709 | -€34,803 | -14.5% |
| Amounts payable | 17/49 | €559,398 | €538,082 | -€21,316 | -3.8% |
| Amounts payable after more than one year | 17 | €519,307 | €486,677 | -€32,630 | -6.3% |
| Financial debts | 170/4 | €519,307 | €486,677 | -€32,630 | -6.3% |
| Amounts payable within one year | 42/48 | €40,091 | €51,405 | +€11,314 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €12,110 | +€7,110 | +142% |
| Financial debts | 43 | €22,185 | €22,185 | = | 0.0% |
| Other loans | 439 | €22,185 | €22,185 | = | 0.0% |
| Trade debts | 44 | €951 | €6,346 | +€5,395 | +567% |
| Suppliers | 440/4 | €951 | €6,346 | +€5,395 | +567% |
| Taxes, remuneration and social security | 45 | €753 | €2,150 | +€1,397 | +185% |
| Taxes | 450/3 | €456 | €222 | -€235 | -51.5% |
| Remuneration and social security | 454/9 | €297 | €1,928 | +€1,632 | +550% |
| Other amounts payable | 47/48 | €11,201 | €8,613 | -€2,588 | -23.1% |
| Non-recurring operating income | 76A | - | €28,603 | +€28,603 | |
| Remuneration, social security and pensions | 62 | - | €1,658 | +€1,658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,188 | €28,219 | +€7,031 | +33.2% |
| Other operating charges | 640/8 | €5,687 | €2,717 | -€2,970 | -52.2% |
| Gross operating margin | 9900 | €171,675 | €58,325 | -€113,350 | -66.0% |
| Operating profit (loss) | 9901 | €144,800 | €25,731 | -€119,069 | -82.2% |
| Financial income | 75/76B | €213 | €799 | +€586 | +275% |
| Recurring financial income | 75 | €213 | €799 | +€586 | +275% |
| Financial charges | 65/66B | €13,328 | €17,866 | +€4,538 | +34.1% |
| Recurring financial charges | 65 | €13,328 | €17,866 | +€4,538 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €131,685 | €8,664 | -€123,021 | -93.4% |
| Income taxes | 67/77 | €10,060 | €43,467 | +€33,407 | +332% |
| Profit (loss) for the period | 9904 | €121,625 | -€34,803 | -€156,428 | |
| Profit (loss) for the period to be appropriated | 9905 | €121,625 | -€34,803 | -€156,428 |
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 30 October 2026 via checked.be.