Shubites: 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.
Shubites
Largest movements
- Tangible fixed assets -€6,218
down €6,218 (-5.5%), from €112,255 to €106,037
of which Plant, machinery and equipment: -€5,302
- Stocks and contracts -€5,548
down €5,548 (-30.7%), from €18,077 to €12,529
- Receivables within one year -€2,311
down €2,311 (-14.4%), from €16,000 to €13,690
of which Trade receivables: -€3,282
- Debts after one year -€19,066
down €19,066 (-51.5%), from €37,045 to €17,979
- Other debts +€15,358
up €15,358 (+135.2%), from €11,356 to €26,713
- Profit (loss) carried forward -€7,626
new in 2025: -€7,626
- Trade debts +€6,066
up €6,066 (+45.2%), from €13,432 to €19,498
- Tax, wage and social debts -€5,492
down €5,492 (-40.5%), from €13,572 to €8,081
of which Taxes: -€8,898
- Staff costs +€19,370
up €19,370 (+16.6%), from €116,491 to €135,861
- Taxes -€5,389
down €5,389 (-100.0%), from €5,389 to €0
- Depreciation +€3,483
up €3,483 (+18.8%), from €18,551 to €22,034
- Other operating charges +€2,406
up €2,406 (+234.8%), from €1,025 to €3,431
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 | €152,552 | €139,490 | -€13,062 | -8.6% |
| Fixed assets | 21/28 | €112,405 | €106,187 | -€6,218 | -5.5% |
| Tangible fixed assets | 22/27 | €112,255 | €106,037 | -€6,218 | -5.5% |
| Plant, machinery and equipment | 23 | €33,667 | €28,364 | -€5,302 | -15.7% |
| Furniture and vehicles | 24 | €7,802 | €7,383 | -€418 | -5.4% |
| Other tangible fixed assets | 26 | €70,786 | €70,289 | -€497 | -0.7% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €40,147 | €33,304 | -€6,844 | -17.0% |
| Stocks and contracts in progress | 3 | €18,077 | €12,529 | -€5,548 | -30.7% |
| Stocks | 30/36 | €18,077 | €12,529 | -€5,548 | -30.7% |
| Amounts receivable within one year | 40/41 | €16,000 | €13,690 | -€2,311 | -14.4% |
| Trade receivables | 40 | €13,577 | €10,295 | -€3,282 | -24.2% |
| Other amounts receivable | 41 | €2,423 | €3,395 | +€971 | +40.1% |
| Cash at bank and in hand | 54/58 | €6,070 | €7,085 | +€1,015 | +16.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €152,552 | €139,490 | -€13,062 | -8.6% |
| Equity | 10/15 | €37,741 | €30,115 | -€7,626 | -20.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €35,241 | €35,241 | = | 0.0% |
| Distributable reserves | 133 | €35,241 | €35,241 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€7,626 | -€7,626 | |
| Amounts payable | 17/49 | €114,811 | €109,375 | -€5,436 | -4.7% |
| Amounts payable after more than one year | 17 | €37,045 | €17,979 | -€19,066 | -51.5% |
| Financial debts | 170/4 | €37,045 | €17,979 | -€19,066 | -51.5% |
| Amounts payable within one year | 42/48 | €57,511 | €73,460 | +€15,949 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €18,510 | €19,066 | +€555 | +3.0% |
| Financial debts | 43 | €71 | €103 | +€31 | +43.8% |
| Credit institutions | 430/8 | €71 | €103 | +€31 | +43.8% |
| Trade debts | 44 | €13,432 | €19,498 | +€6,066 | +45.2% |
| Suppliers | 440/4 | €13,432 | €19,498 | +€6,066 | +45.2% |
| Advances received on contracts in progress | 46 | €569 | €0 | -€569 | -100.0% |
| Taxes, remuneration and social security | 45 | €13,572 | €8,081 | -€5,492 | -40.5% |
| Taxes | 450/3 | €9,060 | €162 | -€8,898 | -98.2% |
| Remuneration and social security | 454/9 | €4,512 | €7,919 | +€3,406 | +75.5% |
| Other amounts payable | 47/48 | €11,356 | €26,713 | +€15,358 | +135.2% |
| Accrued charges and deferred income | 492/3 | €20,256 | €17,936 | -€2,320 | -11.5% |
| Remuneration, social security and pensions | 62 | €116,491 | €135,861 | +€19,370 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,551 | €22,034 | +€3,483 | +18.8% |
| Other operating charges | 640/8 | €1,025 | €3,431 | +€2,406 | +234.8% |
| Gross operating margin | 9900 | €154,646 | €155,383 | +€737 | +0.5% |
| Operating profit (loss) | 9901 | €18,579 | -€5,942 | -€24,522 | |
| Financial income | 75/76B | €0 | €16 | +€16 | +53200.0% |
| Recurring financial income | 75 | €0 | €16 | +€16 | +53200.0% |
| Financial charges | 65/66B | €2,099 | €1,700 | -€399 | -19.0% |
| Recurring financial charges | 65 | €2,099 | €1,700 | -€399 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €16,481 | -€7,626 | -€24,107 | |
| Income taxes | 67/77 | €5,389 | €0 | -€5,389 | -100.0% |
| Profit (loss) for the period | 9904 | €11,091 | -€7,626 | -€18,717 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,091 | -€7,626 | -€18,717 |
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 11 October 2026 via checked.be.