Shun Fu: 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.
Shun Fu
Largest movements
- Deferred charges and accrued income +€6,900
new in 2025: €6,900
- Tax, wage and social debts -€44,031
down €44,031 (-79.0%), from €55,754 to €11,723
of which Remuneration and social security: -€41,641
- Debts after one year -€40,207
down €40,207 (-16.8%), from €239,733 to €199,526
- Other debts +€38,665
up €38,665 (+19.3%), from €200,451 to €239,117
- Profit (loss) carried forward +€18,264
up €18,264 (+18.7%), from €97,846 to €116,110
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Financial charges +€3,924
up €3,924 (+45.8%), from €8,565 to €12,489
- Depreciation -€3,236
down €3,236 (-25.2%), from €12,843 to €9,607
- Other operating charges +€1,618
up €1,618 (+79.5%), from €2,035 to €3,652
- Gross operating margin -€1,542
down €1,542 (-2.6%), from €60,378 to €58,836
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 | €649,453 | €639,938 | -€9,515 | -1.5% |
| Fixed assets | 21/28 | €615,184 | €607,576 | -€7,608 | -1.2% |
| Intangible fixed assets | 21 | €7,792 | €2,292 | -€5,500 | -70.6% |
| Tangible fixed assets | 22/27 | €7,392 | €5,284 | -€2,108 | -28.5% |
| Plant, machinery and equipment | 23 | €3,803 | €1,812 | -€1,991 | -52.3% |
| Furniture and vehicles | 24 | €3,589 | €3,472 | -€117 | -3.3% |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €34,269 | €32,362 | -€1,907 | -5.6% |
| Stocks and contracts in progress | 3 | €4,686 | €4,686 | = | 0.0% |
| Stocks | 30/36 | €4,686 | €4,686 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,282 | €6,065 | -€3,217 | -34.7% |
| Trade receivables | 40 | €7,320 | €3,462 | -€3,858 | -52.7% |
| Other amounts receivable | 41 | €1,962 | €2,603 | +€641 | +32.7% |
| Cash at bank and in hand | 54/58 | €20,302 | €14,712 | -€5,590 | -27.5% |
| Deferred charges and accrued income | 490/1 | - | €6,900 | +€6,900 | |
| Total equity and liabilities | 10/49 | €649,453 | €639,938 | -€9,515 | -1.5% |
| Equity | 10/15 | €104,046 | €134,710 | +€30,664 | +29.5% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Profit (loss) carried forward | 14 | €97,846 | €116,110 | +€18,264 | +18.7% |
| Amounts payable | 17/49 | €545,407 | €505,228 | -€40,179 | -7.4% |
| Amounts payable after more than one year | 17 | €239,733 | €199,526 | -€40,207 | -16.8% |
| Financial debts | 170/4 | €239,733 | €199,526 | -€40,207 | -16.8% |
| Amounts payable within one year | 42/48 | €305,674 | €305,702 | +€28 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €38,534 | €40,207 | +€1,673 | +4.3% |
| Trade debts | 44 | €10,935 | €14,655 | +€3,720 | +34.0% |
| Suppliers | 440/4 | €10,935 | €14,655 | +€3,720 | +34.0% |
| Taxes, remuneration and social security | 45 | €55,754 | €11,723 | -€44,031 | -79.0% |
| Taxes | 450/3 | €10,297 | €7,907 | -€2,390 | -23.2% |
| Remuneration and social security | 454/9 | €45,457 | €3,816 | -€41,641 | -91.6% |
| Other amounts payable | 47/48 | €200,451 | €239,117 | +€38,665 | +19.3% |
| Remuneration, social security and pensions | 62 | €6,614 | €6,476 | -€138 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,843 | €9,607 | -€3,236 | -25.2% |
| Other operating charges | 640/8 | €2,035 | €3,652 | +€1,618 | +79.5% |
| Gross operating margin | 9900 | €60,378 | €58,836 | -€1,542 | -2.6% |
| Operating profit (loss) | 9901 | €38,886 | €39,101 | +€214 | +0.6% |
| Financial income | 75/76B | €29 | €53 | +€24 | +83.2% |
| Recurring financial income | 75 | €29 | €53 | +€24 | +83.2% |
| Financial charges | 65/66B | €8,565 | €12,489 | +€3,924 | +45.8% |
| Recurring financial charges | 65 | €8,565 | €12,489 | +€3,924 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | €30,350 | €26,665 | -€3,685 | -12.1% |
| Income taxes | 67/77 | €8,305 | €8,401 | +€97 | +1.2% |
| Profit (loss) for the period | 9904 | €22,046 | €18,264 | -€3,782 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,046 | €18,264 | -€3,782 | -17.2% |
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 27 October 2026 via checked.be.