Shukur: 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.
Shukur
Largest movements
- Tangible fixed assets -€117,927
down €117,927 (-93.7%), from €125,901 to €7,975
of which Furniture and vehicles: -€116,662
- Receivables within one year +€55,566
up €55,566 (+3.8%), from €1.4m to €1.5m
of which Trade receivables: +€140,025
- Cash -€21,197
down €21,197 (-89.7%), from €23,624 to €2,426
mainly Debts after one year (-€75,734) and Receivables within one year (-€55,566)
- Debts after one year -€75,734
no longer reported in 2025 (was €75,734)
- Tax, wage and social debts +€63,943
up €63,943 (+5.3%), from €1.2m to €1.3m
of which Taxes: +€83,577
- Current portion of long-term debt -€40,717
down €40,717 (-89.7%), from €45,387 to €4,669
- Profit (loss) carried forward -€35,533
down €35,533 (-16.0%), from -€221,814 to -€257,347
- Accrued charges and deferred income +€32,485
up €32,485 (+394%), from €8,250 to €40,735
- Staff costs -€331,255
down €331,255 (-28.2%), from €1.2m to €844,039
- Gross operating margin -€141,607
down €141,607 (-12.7%), from €1.1m to €971,821
- Depreciation -€32,628
down €32,628 (-44.6%), from €73,102 to €40,473
- Financial charges +€21,930
up €21,930 (+116%), from €18,904 to €40,833
- Other operating charges +€12,135
up €12,135 (+17.5%), from €69,521 to €81,656
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 | €1,611,283 | €1,536,390 | -€74,893 | -4.6% |
| Fixed assets | 21/28 | €142,044 | €22,785 | -€119,259 | -84.0% |
| Tangible fixed assets | 22/27 | €125,901 | €7,975 | -€117,927 | -93.7% |
| Land and buildings | 22 | €2,073 | €1,959 | -€115 | -5.5% |
| Plant, machinery and equipment | 23 | €1,458 | €308 | -€1,150 | -78.9% |
| Furniture and vehicles | 24 | €122,370 | €5,708 | -€116,662 | -95.3% |
| Financial fixed assets | 28 | €16,143 | €14,810 | -€1,333 | -8.3% |
| Current assets | 29/58 | €1,469,239 | €1,513,606 | +€44,366 | +3.0% |
| Amounts receivable within one year | 40/41 | €1,445,616 | €1,501,181 | +€55,566 | +3.8% |
| Trade receivables | 40 | €355,759 | €495,783 | +€140,025 | +39.4% |
| Other amounts receivable | 41 | €1,089,857 | €1,005,398 | -€84,459 | -7.7% |
| Cash at bank and in hand | 54/58 | €23,624 | €2,426 | -€21,197 | -89.7% |
| Deferred charges and accrued income | 490/1 | - | €9,998 | +€9,998 | |
| Total equity and liabilities | 10/49 | €1,611,283 | €1,536,390 | -€74,893 | -4.6% |
| Equity | 10/15 | -€208,689 | -€244,222 | -€35,533 | -17.0% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €125 | €125 | = | 0.0% |
| Distributable reserves | 133 | €125 | €125 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€221,814 | -€257,347 | -€35,533 | -16.0% |
| Amounts payable | 17/49 | €1,819,972 | €1,780,612 | -€39,360 | -2.2% |
| Amounts payable after more than one year | 17 | €75,734 | - | -€75,734 | |
| Financial debts | 170/4 | €75,734 | - | -€75,734 | |
| Amounts payable within one year | 42/48 | €1,735,988 | €1,739,877 | +€3,890 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €45,387 | €4,669 | -€40,717 | -89.7% |
| Trade debts | 44 | €469,895 | €459,648 | -€10,247 | -2.2% |
| Suppliers | 440/4 | €469,895 | €459,648 | -€10,247 | -2.2% |
| Advances received on contracts in progress | 46 | €9,089 | - | -€9,089 | |
| Taxes, remuneration and social security | 45 | €1,211,617 | €1,275,560 | +€63,943 | +5.3% |
| Taxes | 450/3 | €1,128,970 | €1,212,547 | +€83,577 | +7.4% |
| Remuneration and social security | 454/9 | €82,647 | €63,013 | -€19,635 | -23.8% |
| Accrued charges and deferred income | 492/3 | €8,250 | €40,735 | +€32,485 | +394% |
| Non-recurring operating income | 76A | €7,000 | €42,280 | +€35,280 | +504% |
| Remuneration, social security and pensions | 62 | €1,175,294 | €844,039 | -€331,255 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,102 | €40,473 | -€32,628 | -44.6% |
| Other operating charges | 640/8 | €69,521 | €81,656 | +€12,135 | +17.5% |
| Non-recurring operating charges | 66A | €1,322 | €3,485 | +€2,163 | +164% |
| Gross operating margin | 9900 | €1,113,427 | €971,821 | -€141,607 | -12.7% |
| Operating profit (loss) | 9901 | -€205,811 | €2,167 | +€207,978 | |
| Financial income | 75/76B | €6,234 | €3,133 | -€3,101 | -49.7% |
| Recurring financial income | 75 | €6,234 | €3,133 | -€3,101 | -49.7% |
| Financial charges | 65/66B | €18,904 | €40,833 | +€21,930 | +116% |
| Recurring financial charges | 65 | €18,904 | €40,833 | +€21,930 | +116% |
| Profit (loss) for the period before taxes | 9903 | -€218,480 | -€35,533 | +€182,947 | +83.7% |
| Profit (loss) for the period | 9904 | -€218,480 | -€35,533 | +€182,947 | +83.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€218,480 | -€35,533 | +€182,947 | +83.7% |
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 20 October 2026 via checked.be.