SHOP EXPERT: 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.
SHOP EXPERT
Largest movements
- Current investments -€2.4m
down €2.4m (-58.9%), from €4.1m to €1.7m
- Tangible fixed assets -€258,789
down €258,789 (-6.5%), from €4.0m to €3.7m
of which Land and buildings: -€199,144
- Receivables after one year +€213,247
new in 2025: €213,247
- Reserves -€2.2m
down €2.2m (-26.1%), from €8.4m to €6.2m
of which Distributable reserves: -€2.2m
- Other debts -€154,895
down €154,895 (-86.4%), from €179,377 to €24,483
- Debts after one year -€132,088
down €132,088 (-24.5%), from €538,672 to €406,585
- Financial income +€260,997
up €260,997 (+293.0%), from €89,067 to €350,064
of which Non-recurring financial income: +€245,403
- Staff costs -€69,349
down €69,349, from €61,590 to -€7,759
- Gross operating margin +€51,877
up €51,877 (+9.9%), from €522,041 to €573,917
- Financial charges +€33,193
up €33,193 (+835.4%), from €3,973 to €37,166
- Depreciation +€27,545
up €27,545 (+11.1%), from €248,222 to €275,767
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 | €9,376,249 | €6,861,455 | -€2.5m | -26.8% |
| Fixed assets | 21/28 | €4,305,155 | €4,046,365 | -€258,789 | -6.0% |
| Tangible fixed assets | 22/27 | €3,997,674 | €3,738,885 | -€258,789 | -6.5% |
| Land and buildings | 22 | €3,597,778 | €3,398,634 | -€199,144 | -5.5% |
| Plant, machinery and equipment | 23 | €2,141 | €1,481 | -€660 | -30.8% |
| Furniture and vehicles | 24 | €381,455 | €312,469 | -€68,986 | -18.1% |
| Other tangible fixed assets | 26 | €16,300 | €26,300 | +€10,000 | +61.3% |
| Financial fixed assets | 28 | €307,480 | €307,480 | = | 0.0% |
| Current assets | 29/58 | €5,071,094 | €2,815,090 | -€2.3m | -44.5% |
| Amounts receivable after more than one year | 29 | - | €213,247 | +€213,247 | |
| Trade receivables | 290 | - | €213,247 | +€213,247 | |
| Amounts receivable within one year | 40/41 | €808,431 | €849,911 | +€41,480 | +5.1% |
| Trade receivables | 40 | €71,390 | €74,983 | +€3,593 | +5.0% |
| Other amounts receivable | 41 | €737,041 | €774,928 | +€37,887 | +5.1% |
| Current investments | 50/53 | €4,113,778 | €1,690,098 | -€2.4m | -58.9% |
| Cash at bank and in hand | 54/58 | €141,030 | €52,687 | -€88,343 | -62.6% |
| Deferred charges and accrued income | 490/1 | €7,855 | €9,147 | +€1,292 | +16.5% |
| Total equity and liabilities | 10/49 | €9,376,249 | €6,861,455 | -€2.5m | -26.8% |
| Equity | 10/15 | €8,445,882 | €6,250,282 | -€2.2m | -26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,427,282 | €6,231,682 | -€2.2m | -26.1% |
| Tax-exempt reserves | 132 | €186,000 | €186,000 | = | 0.0% |
| Distributable reserves | 133 | €8,241,282 | €6,045,682 | -€2.2m | -26.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €930,367 | €611,173 | -€319,194 | -34.3% |
| Amounts payable after more than one year | 17 | €538,672 | €406,585 | -€132,088 | -24.5% |
| Financial debts | 170/4 | €538,672 | €406,585 | -€132,088 | -24.5% |
| Amounts payable within one year | 42/48 | €391,325 | €204,403 | -€186,922 | -47.8% |
| Current portion of amounts payable after more than one year | 42 | €130,718 | €132,088 | +€1,369 | +1.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,488 | €19,285 | +€3,797 | +24.5% |
| Suppliers | 440/4 | €15,488 | €19,285 | +€3,797 | +24.5% |
| Taxes, remuneration and social security | 45 | €65,742 | €28,548 | -€37,194 | -56.6% |
| Taxes | 450/3 | €54,578 | €28,548 | -€26,030 | -47.7% |
| Remuneration and social security | 454/9 | €11,163 | €0 | -€11,163 | -100.0% |
| Other amounts payable | 47/48 | €179,377 | €24,483 | -€154,895 | -86.4% |
| Accrued charges and deferred income | 492/3 | €370 | €185 | -€185 | -50.0% |
| Non-recurring operating income | 76A | €0 | €140 | +€140 | |
| Remuneration, social security and pensions | 62 | €61,590 | -€7,759 | -€69,349 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,222 | €275,767 | +€27,545 | +11.1% |
| Other operating charges | 640/8 | €6,734 | €13,941 | +€7,208 | +107.0% |
| Gross operating margin | 9900 | €522,041 | €573,917 | +€51,877 | +9.9% |
| Operating profit (loss) | 9901 | €205,495 | €291,969 | +€86,473 | +42.1% |
| Financial income | 75/76B | €89,067 | €350,064 | +€260,997 | +293.0% |
| Recurring financial income | 75 | €65,261 | €80,855 | +€15,594 | +23.9% |
| Non-recurring financial income | 76B | €23,806 | €269,209 | +€245,403 | +1030.9% |
| Financial charges | 65/66B | €3,973 | €37,166 | +€33,193 | +835.4% |
| Recurring financial charges | 65 | €3,973 | €37,166 | +€33,193 | +835.4% |
| Profit (loss) for the period before taxes | 9903 | €290,589 | €604,866 | +€314,277 | +108.2% |
| Income taxes | 67/77 | €65,877 | €84,061 | +€18,184 | +27.6% |
| Profit (loss) for the period | 9904 | €224,712 | €520,805 | +€296,093 | +131.8% |
| Profit (loss) for the period to be appropriated | 9905 | €224,712 | €520,805 | +€296,093 | +131.8% |
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 12 October 2026 via checked.be.