SHIVA ASSE: what changed
What changed
SHIVA ASSE
NACE 47.711, Retail sale of women's outerwear
filed annual accounts (NBB)
Net result for the year
€25,499
2024 · €15,746+€9,754
Equity
€232,317
2024 · €231,817+€499
Cash
€27,599
2024 · €39,318-€11,720
Balance sheet total
€588,099
2024 · €582,506+€5,593
Largest movements
Assets
- Receivables within one year +€26,379
up €26,379 (+599%), from €4,407 to €30,786
of which Trade receivables: +€26,865
- Tangible fixed assets -€14,000
down €14,000 (-3.5%), from €405,718 to €391,718
of which Land and buildings: -€13,456
- Cash -€11,720
down €11,720 (-29.8%), from €39,318 to €27,599
mainly Debts after one year (-€34,615) and Receivables within one year (-€26,379)
Equity and liabilities
- Debts after one year -€34,615
down €34,615 (-14.9%), from €232,485 to €197,870
- Trade debts +€30,061
up €30,061 (+158%), from €19,064 to €49,126
- Other debts +€8,739
up €8,739 (+26.1%), from €33,457 to €42,196
Income statement
- Financial charges -€2,929
down €2,929 (-32.8%), from €8,933 to €6,004
- Gross operating margin +€2,853
up €2,853 (+5.8%), from €49,523 to €52,375
- Depreciation -€2,116
down €2,116 (-10.2%), from €20,644 to €18,528
- Financial income +€1,903
up €1,903 (+12,467%), from €15 to €1,918
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€15,746
Gross operating margin
+€2,853
Depreciation
+€2,116
Other operating charges
-€102
Financial income
+€1,903
Financial charges
+€2,929
Taxes
+€56
Result 2025
€25,499
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€50,891
Investment
-€3,965
Financing
-€58,646
Cash 2024
€39,318
From operations (derived)
+€50,891
Net result for the year
+€25,499
Depreciation
+€18,528
Stocks and contracts
-€5,522
Receivables within one year
-€26,379
Smaller working-capital items
-€35
Trade debts
+€30,061
Other debts
+€8,739
Investment (derived)
-€3,965
Investment in fixed assets (net)
-€3,965
Financing
-€58,646
Debts after one year
-€34,615
Current portion of long-term debt
+€969
Contributions, distributions and other
-€25,000
Cash 2025
€27,599
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €582,506 | €588,099 | +€5,593 | +1.0% |
| Fixed assets | 21/28 | €406,880 | €392,317 | -€14,563 | -3.6% |
| Intangible fixed assets | 21 | €1,163 | €600 | -€563 | -48.4% |
| Tangible fixed assets | 22/27 | €405,718 | €391,718 | -€14,000 | -3.5% |
| Land and buildings | 22 | €403,587 | €390,130 | -€13,456 | -3.3% |
| Plant, machinery and equipment | 23 | €2,131 | €1,587 | -€544 | -25.5% |
| Current assets | 29/58 | €175,626 | €195,782 | +€20,156 | +11.5% |
| Stocks and contracts in progress | 3 | €131,645 | €137,167 | +€5,522 | +4.2% |
| Stocks | 30/36 | €131,645 | €137,167 | +€5,522 | +4.2% |
| Amounts receivable within one year | 40/41 | €4,407 | €30,786 | +€26,379 | +599% |
| Trade receivables | 40 | €3,548 | €30,413 | +€26,865 | +757% |
| Other amounts receivable | 41 | €859 | €374 | -€485 | -56.5% |
| Cash at bank and in hand | 54/58 | €39,318 | €27,599 | -€11,720 | -29.8% |
| Deferred charges and accrued income | 490/1 | €256 | €230 | -€26 | -10.1% |
| Total equity and liabilities | 10/49 | €582,506 | €588,099 | +€5,593 | +1.0% |
| Equity | 10/15 | €231,817 | €232,317 | +€499 | +0.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €110,216 | €110,216 | = | 0.0% |
| Tax-exempt reserves | 132 | €273 | €273 | = | 0.0% |
| Distributable reserves | 133 | €109,943 | €109,943 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,201 | €109,700 | +€499 | +0.5% |
| Amounts payable | 17/49 | €350,689 | €355,783 | +€5,094 | +1.5% |
| Amounts payable after more than one year | 17 | €232,485 | €197,870 | -€34,615 | -14.9% |
| Financial debts | 170/4 | €232,485 | €197,870 | -€34,615 | -14.9% |
| Amounts payable within one year | 42/48 | €96,400 | €136,108 | +€39,709 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €33,646 | €34,615 | +€969 | +2.9% |
| Trade debts | 44 | €19,064 | €49,126 | +€30,061 | +158% |
| Suppliers | 440/4 | €19,064 | €49,126 | +€30,061 | +158% |
| Taxes, remuneration and social security | 45 | €10,232 | €10,172 | -€61 | -0.6% |
| Taxes | 450/3 | €10,232 | €10,172 | -€61 | -0.6% |
| Other amounts payable | 47/48 | €33,457 | €42,196 | +€8,739 | +26.1% |
| Accrued charges and deferred income | 492/3 | €21,805 | €21,805 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,644 | €18,528 | -€2,116 | -10.2% |
| Other operating charges | 640/8 | €3,505 | €3,607 | +€102 | +2.9% |
| Gross operating margin | 9900 | €49,523 | €52,375 | +€2,853 | +5.8% |
| Operating profit (loss) | 9901 | €25,374 | €30,240 | +€4,866 | +19.2% |
| Financial income | 75/76B | €15 | €1,918 | +€1,903 | +12,467% |
| Recurring financial income | 75 | €15 | €1,918 | +€1,903 | +12,467% |
| Financial charges | 65/66B | €8,933 | €6,004 | -€2,929 | -32.8% |
| Recurring financial charges | 65 | €8,933 | €6,004 | -€2,929 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €16,456 | €26,154 | +€9,698 | +58.9% |
| Income taxes | 67/77 | €711 | €655 | -€56 | -7.9% |
| Profit (loss) for the period | 9904 | €15,746 | €25,499 | +€9,754 | +61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,746 | €25,499 | +€9,754 | +61.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.