SHS +: 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.
SHS +
Largest movements
- Receivables after one year +€23,624
up €23,624 (+640.3%), from €3,690 to €27,314
- Tangible fixed assets -€22,617
down €22,617 (-7.8%), from €288,672 to €266,054
of which Land and buildings: -€11,940
- Receivables within one year +€10,748
up €10,748 (+88.9%), from €12,087 to €22,834
of which Other amounts receivable: +€9,987
- Cash +€4,806
up €4,806 (+50.4%), from €9,537 to €14,343
mainly Depreciation (+€24,522) and Trade debts (+€22,526)
- Trade debts +€22,526
up €22,526 (+455.5%), from €4,946 to €27,472
- Debts after one year -€5,998
down €5,998 (-3.1%), from €193,026 to €187,028
- Tax, wage and social debts +€4,571
up €4,571 (+198.1%), from €2,308 to €6,879
- Gross operating margin -€19,006
down €19,006 (-36.4%), from €52,196 to €33,191
- Depreciation -€3,420
down €3,420 (-12.2%), from €27,942 to €24,522
- Taxes -€1,386
no longer reported in 2025 (was €1,386)
- Other operating charges +€1,013
up €1,013 (+31.6%), from €3,201 to €4,214
- Financial charges +€592
up €592 (+10.4%), from €5,708 to €6,300
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 | €313,985 | €330,810 | +€16,825 | +5.4% |
| Fixed assets | 21/28 | €288,672 | €266,054 | -€22,617 | -7.8% |
| Tangible fixed assets | 22/27 | €288,672 | €266,054 | -€22,617 | -7.8% |
| Land and buildings | 22 | €244,842 | €232,902 | -€11,940 | -4.9% |
| Plant, machinery and equipment | 23 | €3,622 | €2,059 | -€1,563 | -43.1% |
| Furniture and vehicles | 24 | €2,354 | €2,755 | +€401 | +17.0% |
| Leasing and similar rights | 25 | €37,853 | €28,338 | -€9,515 | -25.1% |
| Current assets | 29/58 | €25,313 | €64,756 | +€39,442 | +155.8% |
| Amounts receivable after more than one year | 29 | €3,690 | €27,314 | +€23,624 | +640.3% |
| Other amounts receivable | 291 | €3,690 | €27,314 | +€23,624 | +640.3% |
| Amounts receivable within one year | 40/41 | €12,087 | €22,834 | +€10,748 | +88.9% |
| Trade receivables | 40 | €12,087 | €12,848 | +€761 | +6.3% |
| Other amounts receivable | 41 | - | €9,987 | +€9,987 | |
| Cash at bank and in hand | 54/58 | €9,537 | €14,343 | +€4,806 | +50.4% |
| Deferred charges and accrued income | 490/1 | - | €265 | +€265 | |
| Total equity and liabilities | 10/49 | €313,985 | €330,810 | +€16,825 | +5.4% |
| Equity | 10/15 | €85,466 | €83,997 | -€1,469 | -1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,520 | €38,520 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €36,660 | €36,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,746 | €39,277 | -€1,469 | -3.6% |
| Amounts payable | 17/49 | €228,519 | €246,813 | +€18,294 | +8.0% |
| Amounts payable after more than one year | 17 | €193,026 | €187,028 | -€5,998 | -3.1% |
| Financial debts | 170/4 | €193,026 | €187,028 | -€5,998 | -3.1% |
| Amounts payable within one year | 42/48 | €35,005 | €59,142 | +€24,137 | +69.0% |
| Current portion of amounts payable after more than one year | 42 | €26,918 | €24,792 | -€2,127 | -7.9% |
| Trade debts | 44 | €4,946 | €27,472 | +€22,526 | +455.5% |
| Suppliers | 440/4 | €4,946 | €27,472 | +€22,526 | +455.5% |
| Taxes, remuneration and social security | 45 | €2,308 | €6,879 | +€4,571 | +198.1% |
| Taxes | 450/3 | €2,308 | €6,879 | +€4,571 | +198.1% |
| Other amounts payable | 47/48 | €833 | - | -€833 | |
| Accrued charges and deferred income | 492/3 | €488 | €643 | +€155 | +31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,942 | €24,522 | -€3,420 | -12.2% |
| Other operating charges | 640/8 | €3,201 | €4,214 | +€1,013 | +31.6% |
| Gross operating margin | 9900 | €52,196 | €33,191 | -€19,006 | -36.4% |
| Operating profit (loss) | 9901 | €21,052 | €4,455 | -€16,598 | -78.8% |
| Financial income | 75/76B | €44 | €376 | +€332 | +751.9% |
| Recurring financial income | 75 | €44 | €376 | +€332 | +751.9% |
| Financial charges | 65/66B | €5,708 | €6,300 | +€592 | +10.4% |
| Recurring financial charges | 65 | €5,708 | €6,300 | +€592 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €15,389 | -€1,469 | -€16,858 | |
| Income taxes | 67/77 | €1,386 | - | -€1,386 | |
| Profit (loss) for the period | 9904 | €14,003 | -€1,469 | -€15,472 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,003 | -€1,469 | -€15,472 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.