SHUBO: 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.
SHUBO
Largest movements
- Receivables within one year -€27,732
down €27,732 (-75.6%), from €36,706 to €8,974
of which Trade receivables: -€18,204
- Tangible fixed assets -€9,005
down €9,005 (-17.0%), from €53,106 to €44,101
of which Other tangible fixed assets: -€8,137
- Other debts -€33,008
down €33,008 (-28.2%), from €117,153 to €84,145
- Profit (loss) carried forward -€5,098
down €5,098, from €0 to -€5,098
- Accrued charges and deferred income +€3,006
new in 2025: €3,006
- Trade debts -€2,435
down €2,435 (-74.7%), from €3,260 to €825
- Staff costs +€15,178
up €15,178 (+320%), from €4,750 to €19,928
- Gross operating margin +€7,405
up €7,405 (+30.2%), from €24,528 to €31,933
- Taxes -€3,799
down €3,799 (-97.9%), from €3,881 to €82
- Depreciation +€2,575
up €2,575 (+18.7%), from €13,792 to €16,367
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 | €187,983 | €151,775 | -€36,207 | -19.3% |
| Fixed assets | 21/28 | €53,106 | €44,101 | -€9,005 | -17.0% |
| Tangible fixed assets | 22/27 | €53,106 | €44,101 | -€9,005 | -17.0% |
| Furniture and vehicles | 24 | €10,252 | €9,384 | -€868 | -8.5% |
| Other tangible fixed assets | 26 | €42,854 | €34,717 | -€8,137 | -19.0% |
| Current assets | 29/58 | €134,877 | €107,674 | -€27,203 | -20.2% |
| Amounts receivable within one year | 40/41 | €36,706 | €8,974 | -€27,732 | -75.6% |
| Trade receivables | 40 | €20,446 | €2,243 | -€18,204 | -89.0% |
| Other amounts receivable | 41 | €16,260 | €6,732 | -€9,528 | -58.6% |
| Cash at bank and in hand | 54/58 | €97,314 | €98,570 | +€1,256 | +1.3% |
| Deferred charges and accrued income | 490/1 | €856 | €130 | -€727 | -84.8% |
| Total equity and liabilities | 10/49 | €187,983 | €151,775 | -€36,207 | -19.3% |
| Equity | 10/15 | €66,113 | €61,016 | -€5,098 | -7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,513 | €47,513 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,482 | €15,482 | = | 0.0% |
| Distributable reserves | 133 | €32,032 | €32,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€5,098 | -€5,098 | |
| Amounts payable | 17/49 | €121,869 | €90,760 | -€31,110 | -25.5% |
| Amounts payable within one year | 42/48 | €121,869 | €87,754 | -€34,115 | -28.0% |
| Trade debts | 44 | €3,260 | €825 | -€2,435 | -74.7% |
| Suppliers | 440/4 | €3,260 | €825 | -€2,435 | -74.7% |
| Taxes, remuneration and social security | 45 | €1,456 | €2,784 | +€1,328 | +91.3% |
| Taxes | 450/3 | €1,288 | €0 | -€1,288 | -100% |
| Remuneration and social security | 454/9 | €168 | €2,784 | +€2,616 | +1,557% |
| Other amounts payable | 47/48 | €117,153 | €84,145 | -€33,008 | -28.2% |
| Accrued charges and deferred income | 492/3 | - | €3,006 | +€3,006 | |
| Remuneration, social security and pensions | 62 | €4,750 | €19,928 | +€15,178 | +320% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,792 | €16,367 | +€2,575 | +18.7% |
| Other operating charges | 640/8 | €516 | €468 | -€48 | -9.4% |
| Gross operating margin | 9900 | €24,528 | €31,933 | +€7,405 | +30.2% |
| Operating profit (loss) | 9901 | €5,470 | -€4,829 | -€10,299 | |
| Financial income | 75/76B | €11 | €0 | -€11 | -100% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -100% |
| Financial charges | 65/66B | €189 | €187 | -€2 | -1.3% |
| Recurring financial charges | 65 | €189 | €187 | -€2 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €5,291 | -€5,016 | -€10,307 | |
| Income taxes | 67/77 | €3,881 | €82 | -€3,799 | -97.9% |
| Profit (loss) for the period | 9904 | €1,410 | -€5,098 | -€6,508 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,410 | -€5,098 | -€6,508 |
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 15 October 2026 via checked.be.