SHUTTLE EXPRESS: what changed
Two fiscal 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.
SHUTTLE EXPRESS
Largest movements
- Receivables within one year +€28,167
up €28,167 (+1397.1%), from €2,016 to €30,183
of which Trade receivables: +€30,077
- Tangible fixed assets -€8,907
down €8,907 (-2.4%), from €366,304 to €357,397
of which Furniture and vehicles: -€5,158
- Cash +€5,734
up €5,734 (+63.8%), from €8,982 to €14,716
mainly Net result for the year (+€26,068) and Depreciation (+€15,107)
- Profit (loss) carried forward +€25,975
up €25,975, from -€9,695 to €16,280
- Other debts +€10,593
up €10,593 (+9.0%), from €117,138 to €127,731
- Current portion of long-term debt -€8,795
down €8,795 (-46.9%), from €18,761 to €9,966
- Turnover -€174,912
no longer reported in 2025 (was €174,912)
- Purchases and services -€106,652
no longer reported in 2025 (was €106,652)
- Gross operating margin +€84,118
up €84,118 (+109.5%), from €76,809 to €160,927
- Taxes +€13,370
new in 2025: €13,370
- Depreciation +€8,977
up €8,977 (+146.5%), from €6,130 to €15,107
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 | €379,505 | €404,499 | +€24,994 | +6.6% |
| Fixed assets | 21/28 | €368,304 | €359,397 | -€8,907 | -2.4% |
| Tangible fixed assets | 22/27 | €366,304 | €357,397 | -€8,907 | -2.4% |
| Land and buildings | 22 | €346,644 | €342,895 | -€3,749 | -1.1% |
| Furniture and vehicles | 24 | €19,660 | €14,502 | -€5,158 | -26.2% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €11,201 | €45,102 | +€33,901 | +302.6% |
| Amounts receivable within one year | 40/41 | €2,016 | €30,183 | +€28,167 | +1397.1% |
| Trade receivables | 40 | €106 | €30,183 | +€30,077 | +28477.0% |
| Other amounts receivable | 41 | €1,910 | - | -€1,910 | |
| Cash at bank and in hand | 54/58 | €8,982 | €14,716 | +€5,734 | +63.8% |
| Deferred charges and accrued income | 490/1 | €203 | €203 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €379,505 | €404,499 | +€24,994 | +6.6% |
| Equity | 10/15 | €305 | €26,280 | +€25,975 | +8513.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,695 | €16,280 | +€25,975 | |
| Amounts payable | 17/49 | €379,200 | €378,219 | -€981 | -0.3% |
| Amounts payable after more than one year | 17 | €220,965 | €220,965 | -€0 | 0.0% |
| Financial debts | 170/4 | €220,965 | €220,965 | -€0 | 0.0% |
| Amounts payable within one year | 42/48 | €158,235 | €157,254 | -€981 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €18,761 | €9,966 | -€8,795 | -46.9% |
| Trade debts | 44 | €2,164 | - | -€2,164 | |
| Suppliers | 440/4 | €2,164 | - | -€2,164 | |
| Taxes, remuneration and social security | 45 | €20,172 | €19,557 | -€615 | -3.0% |
| Taxes | 450/3 | €12,856 | €12,240 | -€616 | -4.8% |
| Remuneration and social security | 454/9 | €7,317 | €7,317 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €117,138 | €127,731 | +€10,593 | +9.0% |
| Turnover | 70 | €174,912 | - | -€174,912 | |
| Goods, raw materials, services and sundry goods | 60/61 | €106,652 | - | -€106,652 | |
| Remuneration, social security and pensions | 62 | €91,748 | €98,262 | +€6,514 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,130 | €15,107 | +€8,977 | +146.5% |
| Other operating charges | 640/8 | €1,992 | €7,913 | +€5,921 | +297.3% |
| Gross operating margin | 9900 | €76,809 | €160,927 | +€84,118 | +109.5% |
| Operating profit (loss) | 9901 | -€23,061 | €39,645 | +€62,706 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,557 | €207 | -€3,350 | -94.2% |
| Recurring financial charges | 65 | €3,557 | €207 | -€3,350 | -94.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,617 | €39,438 | +€66,055 | |
| Income taxes | 67/77 | - | €13,370 | +€13,370 | |
| Profit (loss) for the period | 9904 | -€26,617 | €26,068 | +€52,685 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,617 | €26,068 | +€52,685 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.