SHRB: what changed
Two fiscal 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.
SHRB
Largest movements
- Tangible fixed assets +€45,562
up €45,562 (+3416.4%), from €1,334 to €46,896
of which Furniture and vehicles: +€45,962
- Current investments -€15,609
down €15,609 (-19.1%), from €81,676 to €66,067
- Cash +€5,191
up €5,191 (+39.5%), from €13,131 to €18,322
mainly Net result for the year (+€131,548) and Other debts (+€22,200)
- Receivables within one year -€4,861
down €4,861 (-26.7%), from €18,208 to €13,348
- Deferred charges and accrued income +€4,236
up €4,236 (+43.2%), from €9,803 to €14,040
- Other debts +€22,200
new in 2025: €22,200
- Reserves +€9,850
up €9,850 (+8.1%), from €121,698 to €131,548
- Tax, wage and social debts +€2,249
up €2,249 (+28.1%), from €8,009 to €10,258
- Taxes -€5,954
down €5,954 (-14.0%), from €42,604 to €36,650
- Gross operating margin +€2,937
up €2,937 (+1.8%), from €166,294 to €169,230
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 | €133,832 | €168,352 | +€34,521 | +25.8% |
| Fixed assets | 21/28 | €11,013 | €56,575 | +€45,562 | +413.7% |
| Tangible fixed assets | 22/27 | €1,334 | €46,896 | +€45,562 | +3416.4% |
| Plant, machinery and equipment | 23 | €399 | - | -€399 | |
| Furniture and vehicles | 24 | €934 | €46,896 | +€45,962 | +4919.6% |
| Financial fixed assets | 28 | €9,679 | €9,679 | = | 0.0% |
| Current assets | 29/58 | €122,819 | €111,777 | -€11,042 | -9.0% |
| Amounts receivable within one year | 40/41 | €18,208 | €13,348 | -€4,861 | -26.7% |
| Other amounts receivable | 41 | €18,208 | €13,348 | -€4,861 | -26.7% |
| Current investments | 50/53 | €81,676 | €66,067 | -€15,609 | -19.1% |
| Cash at bank and in hand | 54/58 | €13,131 | €18,322 | +€5,191 | +39.5% |
| Deferred charges and accrued income | 490/1 | €9,803 | €14,040 | +€4,236 | +43.2% |
| Total equity and liabilities | 10/49 | €133,832 | €168,352 | +€34,521 | +25.8% |
| Equity | 10/15 | €124,698 | €134,548 | +€9,850 | +7.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €121,698 | €131,548 | +€9,850 | +8.1% |
| Distributable reserves | 133 | €121,698 | €131,548 | +€9,850 | +8.1% |
| Amounts payable | 17/49 | €9,133 | €33,804 | +€24,671 | +270.1% |
| Amounts payable within one year | 42/48 | €9,133 | €33,804 | +€24,671 | +270.1% |
| Trade debts | 44 | €1,124 | €1,346 | +€222 | +19.7% |
| Suppliers | 440/4 | €1,124 | €1,346 | +€222 | +19.7% |
| Taxes, remuneration and social security | 45 | €8,009 | €10,258 | +€2,249 | +28.1% |
| Taxes | 450/3 | €8,009 | €10,258 | +€2,249 | +28.1% |
| Other amounts payable | 47/48 | - | €22,200 | +€22,200 | |
| Non-recurring operating income | 76A | - | €10,787 | +€10,787 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,767 | €1,336 | -€1,430 | -51.7% |
| Other operating charges | 640/8 | €753 | €890 | +€138 | +18.3% |
| Gross operating margin | 9900 | €166,294 | €169,230 | +€2,937 | +1.8% |
| Operating profit (loss) | 9901 | €162,774 | €167,004 | +€4,229 | +2.6% |
| Financial income | 75/76B | €1,617 | €1,274 | -€344 | -21.3% |
| Recurring financial income | 75 | €1,617 | €1,274 | -€344 | -21.3% |
| Financial charges | 65/66B | €90 | €80 | -€11 | -11.7% |
| Recurring financial charges | 65 | €90 | €80 | -€11 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €164,302 | €168,198 | +€3,896 | +2.4% |
| Income taxes | 67/77 | €42,604 | €36,650 | -€5,954 | -14.0% |
| Profit (loss) for the period | 9904 | €121,698 | €131,548 | +€9,850 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €121,698 | €131,548 | +€9,850 | +8.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.