Shirtcenter: 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.
Shirtcenter
Largest movements
- Tangible fixed assets +€419,159
up €419,159 (+1,213%), from €34,551 to €453,710
of which Land and buildings: +€400,342
- Stocks and contracts +€211,203
up €211,203 (+28.4%), from €743,921 to €955,124
- Receivables within one year -€71,766
down €71,766 (-54.0%), from €132,942 to €61,176
of which Other amounts receivable: -€72,156
- Cash -€43,736
down €43,736 (-65.1%), from €67,224 to €23,488
mainly Investment in fixed assets (net) (-€454,693) and Stocks and contracts (-€211,203)
- Debts after one year +€299,963
up €299,963 (+166%), from €180,214 to €480,177
- Other debts +€91,664
up €91,664 (+31.8%), from €287,814 to €379,478
- Trade debts +€41,484
up €41,484 (+50.7%), from €81,892 to €123,377
- Tax, wage and social debts +€37,865
up €37,865 (+42.6%), from €88,864 to €126,729
of which Taxes: +€33,410
- Profit (loss) carried forward +€30,088
up €30,088 (+20.7%), from -€145,232 to -€115,145
- Gross operating margin +€57,243
up €57,243 (+22.2%), from €258,383 to €315,625
- Staff costs +€42,186
up €42,186 (+27.6%), from €152,964 to €195,150
- Depreciation +€26,824
up €26,824 (+308%), from €8,710 to €35,534
- Financial income -€10,268
down €10,268 (-81.7%), from €12,567 to €2,299
- Taxes -€4,494
down €4,494 (-19.6%), from €22,933 to €18,439
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 | €981,459 | €1,498,120 | +€516,662 | +52.6% |
| Fixed assets | 21/28 | €34,551 | €453,710 | +€419,159 | +1,213% |
| Tangible fixed assets | 22/27 | €34,551 | €453,710 | +€419,159 | +1,213% |
| Land and buildings | 22 | - | €400,342 | +€400,342 | |
| Plant, machinery and equipment | 23 | €4,819 | €28,066 | +€23,247 | +482% |
| Furniture and vehicles | 24 | €4,435 | €3,175 | -€1,261 | -28.4% |
| Other tangible fixed assets | 26 | €25,297 | €22,128 | -€3,170 | -12.5% |
| Current assets | 29/58 | €946,908 | €1,044,410 | +€97,503 | +10.3% |
| Stocks and contracts in progress | 3 | €743,921 | €955,124 | +€211,203 | +28.4% |
| Stocks | 30/36 | €743,921 | €955,124 | +€211,203 | +28.4% |
| Amounts receivable within one year | 40/41 | €132,942 | €61,176 | -€71,766 | -54.0% |
| Trade receivables | 40 | €5,805 | €6,194 | +€389 | +6.7% |
| Other amounts receivable | 41 | €127,137 | €54,981 | -€72,156 | -56.8% |
| Current investments | 50/53 | - | €1,800 | +€1,800 | |
| Cash at bank and in hand | 54/58 | €67,224 | €23,488 | -€43,736 | -65.1% |
| Deferred charges and accrued income | 490/1 | €2,821 | €2,822 | +€2 | +0.1% |
| Total equity and liabilities | 10/49 | €981,459 | €1,498,120 | +€516,662 | +52.6% |
| Equity | 10/15 | €177,621 | €207,708 | +€30,088 | +16.9% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Capital | 10 | €275,000 | €275,000 | = | 0.0% |
| Issued capital | 100 | €275,000 | €275,000 | = | 0.0% |
| Reserves | 13 | €47,853 | €47,853 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,396 | €17,396 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Other | 1319 | €4,896 | €4,896 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,457 | €30,457 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,232 | -€115,145 | +€30,088 | +20.7% |
| Amounts payable | 17/49 | €803,838 | €1,290,412 | +€486,574 | +60.5% |
| Amounts payable after more than one year | 17 | €180,214 | €480,177 | +€299,963 | +166% |
| Financial debts | 170/4 | €180,214 | €480,177 | +€299,963 | +166% |
| Amounts payable within one year | 42/48 | €623,624 | €810,235 | +€186,611 | +29.9% |
| Current portion of amounts payable after more than one year | 42 | €65,054 | €80,651 | +€15,597 | +24.0% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €81,892 | €123,377 | +€41,484 | +50.7% |
| Suppliers | 440/4 | €81,892 | €123,377 | +€41,484 | +50.7% |
| Taxes, remuneration and social security | 45 | €88,864 | €126,729 | +€37,865 | +42.6% |
| Taxes | 450/3 | €63,390 | €96,800 | +€33,410 | +52.7% |
| Remuneration and social security | 454/9 | €25,474 | €29,929 | +€4,455 | +17.5% |
| Other amounts payable | 47/48 | €287,814 | €379,478 | +€91,664 | +31.8% |
| Remuneration, social security and pensions | 62 | €152,964 | €195,150 | +€42,186 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,710 | €35,534 | +€26,824 | +308% |
| Other operating charges | 640/8 | €2,972 | €6,977 | +€4,005 | +135% |
| Gross operating margin | 9900 | €258,383 | €315,625 | +€57,243 | +22.2% |
| Operating profit (loss) | 9901 | €93,736 | €77,964 | -€15,772 | -16.8% |
| Financial income | 75/76B | €12,567 | €2,299 | -€10,268 | -81.7% |
| Recurring financial income | 75 | €12,567 | €2,299 | -€10,268 | -81.7% |
| Financial charges | 65/66B | €31,607 | €31,737 | +€129 | +0.4% |
| Recurring financial charges | 65 | €31,607 | €31,737 | +€129 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €74,696 | €48,526 | -€26,169 | -35.0% |
| Income taxes | 67/77 | €22,933 | €18,439 | -€4,494 | -19.6% |
| Profit (loss) for the period | 9904 | €51,763 | €30,088 | -€21,675 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,763 | €30,088 | -€21,675 | -41.9% |
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 16 October 2026 via checked.be.