SHLI: 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.
SHLI
Largest movements
- Receivables within one year +€44,602
up €44,602 (+249%), from €17,924 to €62,526
of which Other amounts receivable: +€40,168
- Cash +€13,533
up €13,533 (+485%), from €2,792 to €16,325
mainly Net result for the year (+€29,305) and Trade debts (+€19,427)
- Tangible fixed assets +€1,550
up €1,550 (+264%), from €588 to €2,139
- Reserves +€21,810
new in 2025: €21,810
- Trade debts +€19,427
up €19,427 (+489%), from €3,974 to €23,401
- Tax, wage and social debts +€18,021
up €18,021 (+1,384%), from €1,302 to €19,322
- Profit (loss) carried forward +€7,495
no longer reported in 2025 (was -€7,495)
- Debts after one year -€4,578
no longer reported in 2025 (was €4,578)
- Gross operating margin +€57,068
up €57,068 (+5,642%), from €1,012 to €58,080
- Taxes +€17,640
up €17,640 (+3,714%), from €475 to €18,115
- Staff costs +€5,462
new in 2025: €5,462
- Other operating charges +€2,276
new in 2025: €2,276
- Financial charges +€795
up €795 (+57.8%), from €1,376 to €2,171
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 | €21,304 | €80,989 | +€59,686 | +280% |
| Fixed assets | 21/28 | €588 | €2,139 | +€1,550 | +264% |
| Tangible fixed assets | 22/27 | €588 | €2,139 | +€1,550 | +264% |
| Furniture and vehicles | 24 | €588 | €2,139 | +€1,550 | +264% |
| Current assets | 29/58 | €20,715 | €78,851 | +€58,135 | +281% |
| Amounts receivable within one year | 40/41 | €17,924 | €62,526 | +€44,602 | +249% |
| Trade receivables | 40 | €4,662 | €9,096 | +€4,434 | +95.1% |
| Other amounts receivable | 41 | €13,262 | €53,429 | +€40,168 | +303% |
| Cash at bank and in hand | 54/58 | €2,792 | €16,325 | +€13,533 | +485% |
| Total equity and liabilities | 10/49 | €21,304 | €80,989 | +€59,686 | +280% |
| Equity | 10/15 | €4,905 | €34,210 | +€29,305 | +597% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | - | €21,810 | +€21,810 | |
| Distributable reserves | 133 | - | €21,810 | +€21,810 | |
| Profit (loss) carried forward | 14 | -€7,495 | - | +€7,495 | |
| Amounts payable | 17/49 | €16,398 | €46,779 | +€30,381 | +185% |
| Amounts payable after more than one year | 17 | €4,578 | - | -€4,578 | |
| Financial debts | 170/4 | €4,578 | - | -€4,578 | |
| Amounts payable within one year | 42/48 | €11,820 | €46,779 | +€34,959 | +296% |
| Current portion of amounts payable after more than one year | 42 | €6,545 | €4,056 | -€2,489 | -38.0% |
| Trade debts | 44 | €3,974 | €23,401 | +€19,427 | +489% |
| Suppliers | 440/4 | €3,974 | €23,401 | +€19,427 | +489% |
| Taxes, remuneration and social security | 45 | €1,302 | €19,322 | +€18,021 | +1,384% |
| Taxes | 450/3 | €1,302 | €19,322 | +€18,021 | +1,384% |
| Remuneration, social security and pensions | 62 | - | €5,462 | +€5,462 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,081 | €918 | -€163 | -15.1% |
| Other operating charges | 640/8 | - | €2,276 | +€2,276 | |
| Gross operating margin | 9900 | €1,012 | €58,080 | +€57,068 | +5,642% |
| Operating profit (loss) | 9901 | -€70 | €49,423 | +€49,493 | |
| Financial income | 75/76B | €48 | €168 | +€120 | +250% |
| Recurring financial income | 75 | €48 | €168 | +€120 | +250% |
| Financial charges | 65/66B | €1,376 | €2,171 | +€795 | +57.8% |
| Recurring financial charges | 65 | €1,376 | €2,171 | +€795 | +57.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,397 | €47,420 | +€48,817 | |
| Income taxes | 67/77 | €475 | €18,115 | +€17,640 | +3,714% |
| Profit (loss) for the period | 9904 | -€1,872 | €29,305 | +€31,177 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,872 | €29,305 | +€31,177 |
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 17 October 2026 via checked.be.