SHUBH DIAM: 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.
SHUBH DIAM
Largest movements
- Receivables within one year +€410,694
up €410,694 (+71.5%), from €574,437 to €985,130
of which Trade receivables: +€508,663
- Stocks and contracts -€135,905
down €135,905 (-9.2%), from €1.5m to €1.3m
- Cash -€122,779
down €122,779 (-43.4%), from €282,683 to €159,904
mainly Receivables within one year (-€410,694) and Other debts (-€370,484)
- Reserves -€899,123
down €899,123 (-35.3%), from €2.5m to €1.6m
of which Distributable reserves: -€899,123
- Trade debts +€831,271
new in 2025: €831,271
- Profit (loss) carried forward +€589,607
no longer reported in 2025 (was -€589,607)
- Other debts -€370,484
no longer reported in 2025 (was €370,484)
- Gross operating margin -€503,867
down €503,867, from €235,380 to -€268,486
- Financial charges +€71,980
up €71,980 (+81.9%), from €87,902 to €159,882
- Financial income +€26,957
up €26,957 (+29.7%), from €90,723 to €117,680
- Taxes -€11,777
down €11,777, from €9,358 to -€2,420
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 | €2,354,261 | €2,498,201 | +€143,940 | +6.1% |
| Fixed assets | 21/28 | €4,200 | €4,200 | = | 0.0% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €2,350,061 | €2,494,001 | +€143,940 | +6.1% |
| Stocks and contracts in progress | 3 | €1,484,872 | €1,348,967 | -€135,905 | -9.2% |
| Stocks | 30/36 | €1,484,872 | €1,348,967 | -€135,905 | -9.2% |
| Amounts receivable within one year | 40/41 | €574,437 | €985,130 | +€410,694 | +71.5% |
| Trade receivables | 40 | €463,084 | €971,747 | +€508,663 | +110% |
| Other amounts receivable | 41 | €111,353 | €13,384 | -€97,969 | -88.0% |
| Cash at bank and in hand | 54/58 | €282,683 | €159,904 | -€122,779 | -43.4% |
| Deferred charges and accrued income | 490/1 | €8,069 | - | -€8,069 | |
| Total equity and liabilities | 10/49 | €2,354,261 | €2,498,201 | +€143,940 | +6.1% |
| Equity | 10/15 | €1,972,947 | €1,663,431 | -€309,517 | -15.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,543,954 | €1,644,831 | -€899,123 | -35.3% |
| 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 | €2,542,094 | €1,642,971 | -€899,123 | -35.4% |
| Profit (loss) carried forward | 14 | -€589,607 | - | +€589,607 | |
| Amounts payable | 17/49 | €381,314 | €834,771 | +€453,457 | +119% |
| Amounts payable within one year | 42/48 | €381,314 | €834,771 | +€453,457 | +119% |
| Trade debts | 44 | - | €831,271 | +€831,271 | |
| Suppliers | 440/4 | - | €831,271 | +€831,271 | |
| Taxes, remuneration and social security | 45 | €10,830 | €3,500 | -€7,330 | -67.7% |
| Taxes | 450/3 | €10,830 | €3,500 | -€7,330 | -67.7% |
| Other amounts payable | 47/48 | €370,484 | - | -€370,484 | |
| Remuneration, social security and pensions | 62 | €728 | €10 | -€718 | -98.6% |
| Other operating charges | 640/8 | €2,000 | €1,238 | -€761 | -38.1% |
| Non-recurring operating charges | 66A | €718,757 | - | -€718,757 | |
| Gross operating margin | 9900 | €235,380 | -€268,486 | -€503,867 | |
| Operating profit (loss) | 9901 | -€486,104 | -€269,735 | +€216,369 | +44.5% |
| Financial income | 75/76B | €90,723 | €117,680 | +€26,957 | +29.7% |
| Recurring financial income | 75 | €90,723 | €117,680 | +€26,957 | +29.7% |
| Financial charges | 65/66B | €87,902 | €159,882 | +€71,980 | +81.9% |
| Recurring financial charges | 65 | €87,902 | €159,882 | +€71,980 | +81.9% |
| Profit (loss) for the period before taxes | 9903 | -€483,283 | -€311,937 | +€171,346 | +35.5% |
| Income taxes | 67/77 | €9,358 | -€2,420 | -€11,777 | |
| Profit (loss) for the period | 9904 | -€492,641 | -€309,517 | +€183,124 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€492,641 | -€309,517 | +€183,124 | +37.2% |
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 21 October 2026 via checked.be.