SHPV: 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.
SHPV
Largest movements
- Receivables within one year +€381,102
up €381,102 (+671%), from €56,785 to €437,887
of which Other amounts receivable: +€383,622
- Deferred charges and accrued income +€6,003
up €6,003 (+2,205%), from €272 to €6,275
- Other debts +€261,073
up €261,073 (+397%), from €65,690 to €326,763
- Tax, wage and social debts +€82,322
up €82,322 (+1,954%), from €4,214 to €86,536
- Profit (loss) carried forward +€47,495
up €47,495, from -€36,874 to €10,620
- Trade debts -€4,953
down €4,953 (-60.0%), from €8,248 to €3,296
- Gross operating margin +€385,261
up €385,261, from -€11,984 to €373,277
- Financial income +€5,525
up €5,525 (+268%), from €2,058 to €7,583
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 | €59,878 | €445,815 | +€385,937 | +645% |
| Fixed assets | 21/28 | €2,733 | €1,633 | -€1,100 | -40.2% |
| Tangible fixed assets | 22/27 | €2,733 | €1,633 | -€1,100 | -40.2% |
| Plant, machinery and equipment | 23 | €2,733 | €1,633 | -€1,100 | -40.2% |
| Current assets | 29/58 | €57,144 | €444,181 | +€387,037 | +677% |
| Amounts receivable within one year | 40/41 | €56,785 | €437,887 | +€381,102 | +671% |
| Trade receivables | 40 | €2,521 | - | -€2,521 | |
| Other amounts receivable | 41 | €54,264 | €437,887 | +€383,622 | +707% |
| Cash at bank and in hand | 54/58 | €87 | €20 | -€68 | -77.4% |
| Deferred charges and accrued income | 490/1 | €272 | €6,275 | +€6,003 | +2,205% |
| Total equity and liabilities | 10/49 | €59,878 | €445,815 | +€385,937 | +645% |
| Equity | 10/15 | -€18,274 | €29,220 | +€47,495 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,874 | €10,620 | +€47,495 | |
| Amounts payable | 17/49 | €78,152 | €416,594 | +€338,442 | +433% |
| Amounts payable within one year | 42/48 | €78,152 | €416,594 | +€338,442 | +433% |
| Trade debts | 44 | €8,248 | €3,296 | -€4,953 | -60.0% |
| Suppliers | 440/4 | €8,248 | €3,296 | -€4,953 | -60.0% |
| Taxes, remuneration and social security | 45 | €4,214 | €86,536 | +€82,322 | +1,954% |
| Taxes | 450/3 | €4,214 | €86,536 | +€82,322 | +1,954% |
| Other amounts payable | 47/48 | €65,690 | €326,763 | +€261,073 | +397% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,100 | €1,100 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€11,984 | €373,277 | +€385,261 | |
| Operating profit (loss) | 9901 | -€13,471 | €371,778 | +€385,249 | |
| Financial income | 75/76B | €2,058 | €7,583 | +€5,525 | +268% |
| Recurring financial income | 75 | €2,058 | €7,583 | +€5,525 | +268% |
| Financial charges | 65/66B | €1,929 | €3,384 | +€1,455 | +75.4% |
| Recurring financial charges | 65 | €1,929 | €3,384 | +€1,455 | +75.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,342 | €375,977 | +€389,319 | |
| Income taxes | 67/77 | - | €3,482 | +€3,482 | |
| Profit (loss) for the period | 9904 | -€13,342 | €372,495 | +€385,837 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,342 | €372,495 | +€385,837 |
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.