Shinobi: 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.
Shinobi
Largest movements
- Cash +€18,505
up €18,505 (+60.6%), from €30,559 to €49,064
mainly Net result for the year (+€21,707) and Tax, wage and social debts (+€10,952)
- Stocks and contracts +€9,261
new in 2025: €9,261
- Tangible fixed assets +€7,838
new in 2025: €7,838
- Receivables within one year +€1,248
up €1,248 (+8.0%), from €15,670 to €16,918
of which Other amounts receivable: +€936
- Deferred charges and accrued income +€1,184
new in 2025: €1,184
- Reserves +€21,707
up €21,707 (+176.6%), from €12,292 to €33,999
- Tax, wage and social debts +€10,952
up €10,952 (+108.5%), from €10,093 to €21,045
of which Taxes: +€10,952
- Trade debts +€8,068
up €8,068 (+1622.6%), from €497 to €8,565
- Other debts -€2,691
down €2,691 (-17.8%), from €15,146 to €12,455
- Gross operating margin +€19,394
up €19,394 (+147.6%), from €13,142 to €32,537
- Taxes +€3,565
up €3,565 (+89.5%), from €3,983 to €7,548
- Financial charges +€828
up €828 (+92.7%), from €893 to €1,720
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 | €46,229 | €84,264 | +€38,035 | +82.3% |
| Fixed assets | 21/28 | €0 | €7,838 | +€7,838 | |
| Tangible fixed assets | 22/27 | - | €7,838 | +€7,838 | |
| Furniture and vehicles | 24 | - | €7,838 | +€7,838 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €46,229 | €76,426 | +€30,197 | +65.3% |
| Stocks and contracts in progress | 3 | - | €9,261 | +€9,261 | |
| Stocks | 30/36 | - | €9,261 | +€9,261 | |
| Amounts receivable within one year | 40/41 | €15,670 | €16,918 | +€1,248 | +8.0% |
| Trade receivables | 40 | €15,580 | €15,892 | +€312 | +2.0% |
| Other amounts receivable | 41 | €90 | €1,026 | +€936 | +1040.6% |
| Cash at bank and in hand | 54/58 | €30,559 | €49,064 | +€18,505 | +60.6% |
| Deferred charges and accrued income | 490/1 | - | €1,184 | +€1,184 | |
| Total equity and liabilities | 10/49 | €46,229 | €84,264 | +€38,035 | +82.3% |
| Equity | 10/15 | €20,492 | €42,199 | +€21,707 | +105.9% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | €12,292 | €33,999 | +€21,707 | +176.6% |
| Distributable reserves | 133 | €12,292 | €33,999 | +€21,707 | +176.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €25,737 | €42,065 | +€16,328 | +63.4% |
| Amounts payable within one year | 42/48 | €25,737 | €42,065 | +€16,328 | +63.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €497 | €8,565 | +€8,068 | +1622.6% |
| Suppliers | 440/4 | €497 | €8,565 | +€8,068 | +1622.6% |
| Taxes, remuneration and social security | 45 | €10,093 | €21,045 | +€10,952 | +108.5% |
| Taxes | 450/3 | €10,093 | €21,045 | +€10,952 | +108.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €15,146 | €12,455 | -€2,691 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €262 | +€262 | |
| Other operating charges | 640/8 | €1,086 | €1,300 | +€214 | +19.7% |
| Gross operating margin | 9900 | €13,142 | €32,537 | +€19,394 | +147.6% |
| Operating profit (loss) | 9901 | €12,056 | €30,975 | +€18,919 | +156.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €893 | €1,720 | +€828 | +92.7% |
| Recurring financial charges | 65 | €893 | €1,720 | +€828 | +92.7% |
| Profit (loss) for the period before taxes | 9903 | €11,163 | €29,255 | +€18,092 | +162.1% |
| Income taxes | 67/77 | €3,983 | €7,548 | +€3,565 | +89.5% |
| Profit (loss) for the period | 9904 | €7,181 | €21,707 | +€14,526 | +202.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,181 | €21,707 | +€14,526 | +202.3% |
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 6 October 2026 via checked.be.