SHORED UP: 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.
SHORED UP
Largest movements
- Cash -€7,848
down €7,848 (-75.6%), from €10,376 to €2,528
mainly Receivables within one year (-€4,081) and Tax, wage and social debts (-€2,868)
- Receivables within one year +€4,081
up €4,081 (+38.6%), from €10,565 to €14,645
of which Trade receivables: +€3,995
- Formation expenses -€670
down €670 (-40.6%), from €1,650 to €979
- Deferred charges and accrued income +€632
up €632 (+42.9%), from €1,474 to €2,105
- Tax, wage and social debts -€2,868
down €2,868 (-21.7%), from €13,193 to €10,324
- Other debts -€874
down €874 (-100%), from €874 to €0
- Trade debts -€519
down €519 (-27.8%), from €1,869 to €1,350
- Accrued charges and deferred income +€445
up €445 (+29,279%), from €2 to €447
- Gross operating margin -€10,903
down €10,903 (-68.9%), from €15,826 to €4,922
- Taxes -€2,875
down €2,875 (-68.9%), from €4,171 to €1,296
- Depreciation +€1,387
up €1,387 (+113%), from €1,228 to €2,615
- Other operating charges -€206
down €206 (-25.0%), from €826 to €620
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 | €27,350 | €23,499 | -€3,851 | -14.1% |
| Formation expenses | 20 | €1,650 | €979 | -€670 | -40.6% |
| Fixed assets | 21/28 | €3,286 | €3,241 | -€45 | -1.4% |
| Tangible fixed assets | 22/27 | €3,286 | €3,241 | -€45 | -1.4% |
| Plant, machinery and equipment | 23 | €1,782 | €2,424 | +€642 | +36.0% |
| Furniture and vehicles | 24 | €1,503 | €817 | -€687 | -45.7% |
| Current assets | 29/58 | €22,415 | €19,279 | -€3,136 | -14.0% |
| Amounts receivable within one year | 40/41 | €10,565 | €14,645 | +€4,081 | +38.6% |
| Trade receivables | 40 | €10,346 | €14,341 | +€3,995 | +38.6% |
| Other amounts receivable | 41 | €219 | €304 | +€85 | +38.9% |
| Cash at bank and in hand | 54/58 | €10,376 | €2,528 | -€7,848 | -75.6% |
| Deferred charges and accrued income | 490/1 | €1,474 | €2,105 | +€632 | +42.9% |
| Total equity and liabilities | 10/49 | €27,350 | €23,499 | -€3,851 | -14.1% |
| Equity | 10/15 | €11,413 | €11,378 | -€34 | -0.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,413 | €8,413 | = | 0.0% |
| Distributable reserves | 133 | €8,413 | €8,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€34 | -€34 | |
| Amounts payable | 17/49 | €15,937 | €12,120 | -€3,816 | -23.9% |
| Amounts payable within one year | 42/48 | €15,935 | €11,674 | -€4,262 | -26.7% |
| Trade debts | 44 | €1,869 | €1,350 | -€519 | -27.8% |
| Suppliers | 440/4 | €1,869 | €1,350 | -€519 | -27.8% |
| Taxes, remuneration and social security | 45 | €13,193 | €10,324 | -€2,868 | -21.7% |
| Taxes | 450/3 | €13,193 | €10,324 | -€2,868 | -21.7% |
| Other amounts payable | 47/48 | €874 | €0 | -€874 | -100% |
| Accrued charges and deferred income | 492/3 | €2 | €447 | +€445 | +29,279% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,228 | €2,615 | +€1,387 | +113% |
| Other operating charges | 640/8 | €826 | €620 | -€206 | -25.0% |
| Gross operating margin | 9900 | €15,826 | €4,922 | -€10,903 | -68.9% |
| Operating profit (loss) | 9901 | €13,772 | €1,688 | -€12,084 | -87.7% |
| Financial income | 75/76B | €5 | €9 | +€4 | +86.2% |
| Recurring financial income | 75 | €5 | €9 | +€4 | +86.2% |
| Financial charges | 65/66B | €334 | €435 | +€102 | +30.4% |
| Recurring financial charges | 65 | €334 | €435 | +€102 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €13,443 | €1,262 | -€12,181 | -90.6% |
| Income taxes | 67/77 | €4,171 | €1,296 | -€2,875 | -68.9% |
| Profit (loss) for the period | 9904 | €9,272 | -€34 | -€9,306 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,272 | -€34 | -€9,306 |
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 22 October 2026 via checked.be.