SHP RUBENS: 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.
SHP RUBENS
Largest movements
- Cash -€6,146
down €6,146 (-70.9%), from €8,664 to €2,518
mainly Stocks and contracts (-€6,000) and Trade debts (-€2,399)
- Stocks and contracts +€6,000
up €6,000 (+46.4%), from €12,941 to €18,941
- Tangible fixed assets -€1,067
down €1,067 (-46.8%), from €2,278 to €1,211
of which Plant, machinery and equipment: -€733
- Deferred charges and accrued income -€298
no longer reported in 2025 (was €298)
- Trade debts -€2,399
no longer reported in 2025 (was €2,399)
- Tax, wage and social debts +€682
up €682 (+13.3%), from €5,119 to €5,801
- Profit (loss) carried forward +€397
up €397 (+2.8%), from €14,361 to €14,758
- Gross operating margin -€18,851
down €18,851 (-78.6%), from €23,973 to €5,122
- Taxes -€3,783
down €3,783 (-79.0%), from €4,787 to €1,004
- Financial charges -€1,080
down €1,080 (-90.9%), from €1,188 to €109
- Depreciation -€750
down €750 (-41.3%), from €1,816 to €1,067
- Other operating charges +€724
up €724 (+39.8%), from €1,821 to €2,545
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 | €24,470 | €23,170 | -€1,300 | -5.3% |
| Fixed assets | 21/28 | €2,278 | €1,211 | -€1,067 | -46.8% |
| Tangible fixed assets | 22/27 | €2,278 | €1,211 | -€1,067 | -46.8% |
| Plant, machinery and equipment | 23 | €1,528 | €794 | -€733 | -48.0% |
| Furniture and vehicles | 24 | €750 | €417 | -€333 | -44.4% |
| Current assets | 29/58 | €22,192 | €21,959 | -€233 | -1.1% |
| Stocks and contracts in progress | 3 | €12,941 | €18,941 | +€6,000 | +46.4% |
| Stocks | 30/36 | €12,941 | €18,941 | +€6,000 | +46.4% |
| Amounts receivable within one year | 40/41 | €290 | €500 | +€210 | +72.5% |
| Trade receivables | 40 | - | €16 | +€16 | |
| Other amounts receivable | 41 | €290 | €484 | +€194 | +67.1% |
| Cash at bank and in hand | 54/58 | €8,664 | €2,518 | -€6,146 | -70.9% |
| Deferred charges and accrued income | 490/1 | €298 | - | -€298 | |
| Total equity and liabilities | 10/49 | €24,470 | €23,170 | -€1,300 | -5.3% |
| Equity | 10/15 | €16,861 | €17,258 | +€397 | +2.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,361 | €14,758 | +€397 | +2.8% |
| Amounts payable | 17/49 | €7,609 | €5,912 | -€1,697 | -22.3% |
| Amounts payable within one year | 42/48 | €7,609 | €5,912 | -€1,697 | -22.3% |
| Trade debts | 44 | €2,399 | - | -€2,399 | |
| Suppliers | 440/4 | €2,399 | - | -€2,399 | |
| Taxes, remuneration and social security | 45 | €5,119 | €5,801 | +€682 | +13.3% |
| Taxes | 450/3 | €5,119 | €5,801 | +€682 | +13.3% |
| Other amounts payable | 47/48 | €91 | €111 | +€20 | +22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,816 | €1,067 | -€750 | -41.3% |
| Other operating charges | 640/8 | €1,821 | €2,545 | +€724 | +39.8% |
| Gross operating margin | 9900 | €23,973 | €5,122 | -€18,851 | -78.6% |
| Operating profit (loss) | 9901 | €20,336 | €1,510 | -€18,826 | -92.6% |
| Financial charges | 65/66B | €1,188 | €109 | -€1,080 | -90.9% |
| Recurring financial charges | 65 | €1,188 | €109 | -€1,080 | -90.9% |
| Profit (loss) for the period before taxes | 9903 | €19,148 | €1,402 | -€17,746 | -92.7% |
| Income taxes | 67/77 | €4,787 | €1,004 | -€3,783 | -79.0% |
| Profit (loss) for the period | 9904 | €14,361 | €397 | -€13,963 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,361 | €397 | -€13,963 | -97.2% |
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 19 October 2026 via checked.be.