SHT-BENELUX: 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.
What changed
SHT-BENELUX
NACE 46.140, Agents in the wholesale of industrial machinery, ships and aircraft
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,094
2024 · €48,678+€9,416
Equity
€1.4m
2024 · €1.5m-€93,459
Cash
€29,065
2024 · €44,476-€15,411
Balance sheet total
€1.6m
2024 · €1.5m+€54,063
Largest movements
Assets
- Current investments +€65,393
up €65,393 (+11.9%), from €550,627 to €616,020
Equity and liabilities
- Other debts +€151,523
up €151,523 (+502,397%), from €30 to €151,553
- Reserves -€93,459
down €93,459 (-6.4%), from €1.5m to €1.4m
Income statement
- Gross operating margin +€12,879
up €12,879 (+13.0%), from €99,035 to €111,915
- Taxes +€3,833
up €3,833 (+19.4%), from €19,767 to €23,601
- Depreciation -€2,191
down €2,191 (-7.8%), from €28,034 to €25,843
- Other operating charges +€2,080
up €2,080 (+37.1%), from €5,612 to €7,692
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.
Result 2024
€48,678
Gross operating margin
+€12,879
Depreciation
+€2,191
Other operating charges
-€2,080
Financial income
+€245
Financial charges
+€14
Taxes
-€3,833
Result 2025
€58,094
raises the resultlowers the result
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.
From operations
+€241,235
Investment
-€105,093
Financing
-€151,553
Cash 2024
€44,476
From operations (derived)
+€241,235
Net result for the year
+€58,094
Depreciation
+€25,843
Receivables within one year
+€10,170
Deferred charges and accrued income
-€394
Trade debts
-€3,164
Tax, wage and social debts
-€838
Other debts
+€151,523
Investment (derived)
-€105,093
Investment in fixed assets (net)
-€39,700
Current investments
-€65,393
Financing
-€151,553
Contributions, distributions and other
-€151,553
Cash 2025
€29,065
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,502,106 | €1,556,169 | +€54,063 | +3.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €811,808 | €825,664 | +€13,857 | +1.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €811,718 | €825,575 | +€13,857 | +1.7% |
| Land and buildings | 22 | €749,394 | €789,094 | +€39,700 | +5.3% |
| Plant, machinery and equipment | 23 | €9,559 | €6,044 | -€3,515 | -36.8% |
| Furniture and vehicles | 24 | €52,766 | €30,437 | -€22,329 | -42.3% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €690,298 | €730,504 | +€40,206 | +5.8% |
| Amounts receivable within one year | 40/41 | €93,210 | €83,039 | -€10,170 | -10.9% |
| Trade receivables | 40 | €90,064 | €80,909 | -€9,155 | -10.2% |
| Other amounts receivable | 41 | €3,145 | €2,130 | -€1,015 | -32.3% |
| Current investments | 50/53 | €550,627 | €616,020 | +€65,393 | +11.9% |
| Cash at bank and in hand | 54/58 | €44,476 | €29,065 | -€15,411 | -34.6% |
| Deferred charges and accrued income | 490/1 | €1,986 | €2,380 | +€394 | +19.8% |
| Total equity and liabilities | 10/49 | €1,502,106 | €1,556,169 | +€54,063 | +3.6% |
| Equity | 10/15 | €1,490,551 | €1,397,092 | -€93,459 | -6.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €1,470,551 | €1,377,092 | -€93,459 | -6.4% |
| Distributable reserves | 133 | €1,470,551 | €1,377,092 | -€93,459 | -6.4% |
| Amounts payable | 17/49 | €11,555 | €159,076 | +€147,521 | +1,277% |
| Amounts payable within one year | 42/48 | €11,555 | €159,076 | +€147,521 | +1,277% |
| Trade debts | 44 | €4,217 | €1,053 | -€3,164 | -75.0% |
| Suppliers | 440/4 | €4,217 | €1,053 | -€3,164 | -75.0% |
| Taxes, remuneration and social security | 45 | €7,308 | €6,470 | -€838 | -11.5% |
| Taxes | 450/3 | €7,308 | €6,470 | -€838 | -11.5% |
| Other amounts payable | 47/48 | €30 | €151,553 | +€151,523 | +502,397% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,034 | €25,843 | -€2,191 | -7.8% |
| Other operating charges | 640/8 | €5,612 | €7,692 | +€2,080 | +37.1% |
| Gross operating margin | 9900 | €99,035 | €111,915 | +€12,879 | +13.0% |
| Operating profit (loss) | 9901 | €65,389 | €78,379 | +€12,990 | +19.9% |
| Financial income | 75/76B | €3,198 | €3,443 | +€245 | +7.7% |
| Recurring financial income | 75 | €3,198 | €3,443 | +€245 | +7.7% |
| Financial charges | 65/66B | €141 | €127 | -€14 | -10.0% |
| Recurring financial charges | 65 | €141 | €127 | -€14 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €68,445 | €81,695 | +€13,249 | +19.4% |
| Income taxes | 67/77 | €19,767 | €23,601 | +€3,833 | +19.4% |
| Profit (loss) for the period | 9904 | €48,678 | €58,094 | +€9,416 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €48,678 | €58,094 | +€9,416 | +19.3% |
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 27 October 2026 via checked.be.