Shoeshoe: 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.
Shoeshoe
Largest movements
- Stocks and contracts +€17,347
up €17,347 (+12.0%), from €144,919 to €162,266
- Cash -€4,310
down €4,310 (-33.7%), from €12,787 to €8,476
mainly Stocks and contracts (-€17,347) and Other debts (-€3,488)
- Tangible fixed assets -€3,436
down €3,436 (-22.3%), from €15,381 to €11,944
of which Furniture and vehicles: -€2,941
- Reserves +€8,234
up €8,234 (+11.9%), from €69,274 to €77,507
of which Distributable reserves: +€8,234
- Other debts -€3,488
down €3,488 (-14.2%), from €24,508 to €21,019
- Tax, wage and social debts +€2,323
up €2,323 (+20.4%), from €11,401 to €13,723
- Gross operating margin +€13,469
up €13,469 (+87.9%), from €15,315 to €28,784
- Write-downs +€3,935
up €3,935, from -€1,836 to €2,099
- Taxes +€2,008
up €2,008 (+105%), from €1,907 to €3,916
- Financial charges -€871
down €871 (-11.5%), from €7,551 to €6,680
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 | €176,789 | €184,803 | +€8,014 | +4.5% |
| Fixed assets | 21/28 | €15,381 | €11,944 | -€3,436 | -22.3% |
| Tangible fixed assets | 22/27 | €15,381 | €11,944 | -€3,436 | -22.3% |
| Land and buildings | 22 | €2,626 | €2,263 | -€363 | -13.8% |
| Plant, machinery and equipment | 23 | €1,308 | €1,176 | -€132 | -10.1% |
| Furniture and vehicles | 24 | €11,446 | €8,505 | -€2,941 | -25.7% |
| Current assets | 29/58 | €161,409 | €172,859 | +€11,451 | +7.1% |
| Stocks and contracts in progress | 3 | €144,919 | €162,266 | +€17,347 | +12.0% |
| Stocks | 30/36 | €144,919 | €162,266 | +€17,347 | +12.0% |
| Amounts receivable within one year | 40/41 | €1,636 | €292 | -€1,344 | -82.1% |
| Trade receivables | 40 | €1,151 | €1 | -€1,151 | -99.9% |
| Other amounts receivable | 41 | €485 | €291 | -€193 | -39.9% |
| Cash at bank and in hand | 54/58 | €12,787 | €8,476 | -€4,310 | -33.7% |
| Deferred charges and accrued income | 490/1 | €2,066 | €1,825 | -€242 | -11.7% |
| Total equity and liabilities | 10/49 | €176,789 | €184,803 | +€8,014 | +4.5% |
| Equity | 10/15 | €81,674 | €89,907 | +€8,234 | +10.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €69,274 | €77,507 | +€8,234 | +11.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €69,274 | €77,507 | +€8,234 | +11.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €95,116 | €94,896 | -€220 | -0.2% |
| Amounts payable within one year | 42/48 | €95,116 | €94,896 | -€220 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €50,072 | €50,058 | -€14 | 0.0% |
| Credit institutions | 430/8 | €50,072 | €50,058 | -€14 | 0.0% |
| Trade debts | 44 | €9,136 | €10,096 | +€960 | +10.5% |
| Suppliers | 440/4 | €9,136 | €10,096 | +€960 | +10.5% |
| Taxes, remuneration and social security | 45 | €11,401 | €13,723 | +€2,323 | +20.4% |
| Taxes | 450/3 | €11,401 | €13,723 | +€2,323 | +20.4% |
| Other amounts payable | 47/48 | €24,508 | €21,019 | -€3,488 | -14.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €76 | €125 | +€50 | +65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,641 | €4,833 | +€193 | +4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,836 | €2,099 | +€3,935 | |
| Other operating charges | 640/8 | €987 | €952 | -€35 | -3.5% |
| Gross operating margin | 9900 | €15,315 | €28,784 | +€13,469 | +87.9% |
| Operating profit (loss) | 9901 | €11,448 | €20,774 | +€9,326 | +81.5% |
| Financial income | 75/76B | €265 | €55 | -€209 | -79.1% |
| Recurring financial income | 75 | €265 | €55 | -€209 | -79.1% |
| Financial charges | 65/66B | €7,551 | €6,680 | -€871 | -11.5% |
| Recurring financial charges | 65 | €7,551 | €6,680 | -€871 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €4,162 | €14,149 | +€9,988 | +240% |
| Income taxes | 67/77 | €1,907 | €3,916 | +€2,008 | +105% |
| Profit (loss) for the period | 9904 | €2,254 | €10,234 | +€7,980 | +354% |
| Profit (loss) for the period to be appropriated | 9905 | €2,254 | €10,234 | +€7,980 | +354% |
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 18 October 2026 via checked.be.