Shuttles: 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.
Shuttles
Largest movements
- Tangible fixed assets +€315,197
up €315,197 (+3,794%), from €8,309 to €323,506
of which Plant, machinery and equipment: +€269,846
- Cash -€146,897
down €146,897 (-99.4%), from €147,753 to €856
mainly Investment in fixed assets (net) (-€322,872) and Net result for the year (-€124,375)
- Stocks and contracts +€51,895
new in 2025: €51,895
- Receivables within one year +€47,179
up €47,179 (+367%), from €12,863 to €60,042
of which Other amounts receivable: +€45,447
- Debts after one year +€180,272
up €180,272 (+31.0%), from €580,853 to €761,125
- Trade debts +€162,213
up €162,213 (+755%), from €21,496 to €183,708
- Profit (loss) carried forward -€124,375
down €124,375 (-18.2%), from -€682,949 to -€807,324
- Other debts +€50,000
new in 2025: €50,000
- Gross operating margin +€203,463
up €203,463 (+78.9%), from -€257,920 to -€54,457
- Depreciation -€70,997
down €70,997 (-90.2%), from €78,671 to €7,674
- Staff costs +€30,323
new in 2025: €30,323
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 | €172,491 | €440,390 | +€267,899 | +155% |
| Fixed assets | 21/28 | €11,159 | €326,356 | +€315,197 | +2,825% |
| Tangible fixed assets | 22/27 | €8,309 | €323,506 | +€315,197 | +3,794% |
| Plant, machinery and equipment | 23 | €3,907 | €273,753 | +€269,846 | +6,907% |
| Furniture and vehicles | 24 | €4,402 | €14,961 | +€10,559 | +240% |
| Other tangible fixed assets | 26 | - | €34,793 | +€34,793 | |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €161,332 | €114,034 | -€47,298 | -29.3% |
| Stocks and contracts in progress | 3 | - | €51,895 | +€51,895 | |
| Stocks | 30/36 | - | €51,895 | +€51,895 | |
| Amounts receivable within one year | 40/41 | €12,863 | €60,042 | +€47,179 | +367% |
| Trade receivables | 40 | - | €1,732 | +€1,732 | |
| Other amounts receivable | 41 | €12,863 | €58,310 | +€45,447 | +353% |
| Cash at bank and in hand | 54/58 | €147,753 | €856 | -€146,897 | -99.4% |
| Deferred charges and accrued income | 490/1 | €716 | €1,241 | +€525 | +73.4% |
| Total equity and liabilities | 10/49 | €172,491 | €440,390 | +€267,899 | +155% |
| Equity | 10/15 | -€430,949 | -€555,324 | -€124,375 | -28.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€682,949 | -€807,324 | -€124,375 | -18.2% |
| Investment grants | 15 | €242,000 | €242,000 | = | 0.0% |
| Amounts payable | 17/49 | €603,440 | €995,715 | +€392,274 | +65.0% |
| Amounts payable after more than one year | 17 | €580,853 | €761,125 | +€180,272 | +31.0% |
| Financial debts | 170/4 | €580,853 | €761,125 | +€180,272 | +31.0% |
| Amounts payable within one year | 42/48 | €21,496 | €233,708 | +€212,213 | +987% |
| Trade debts | 44 | €21,496 | €183,708 | +€162,213 | +755% |
| Suppliers | 440/4 | €21,496 | €183,708 | +€162,213 | +755% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Accrued charges and deferred income | 492/3 | €1,091 | €881 | -€210 | -19.2% |
| Remuneration, social security and pensions | 62 | - | €30,323 | +€30,323 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,671 | €7,674 | -€70,997 | -90.2% |
| Other operating charges | 640/8 | €1,651 | €1,846 | +€195 | +11.8% |
| Gross operating margin | 9900 | -€257,920 | -€54,457 | +€203,463 | +78.9% |
| Operating profit (loss) | 9901 | -€338,243 | -€94,300 | +€243,942 | +72.1% |
| Financial income | 75/76B | €2 | €0 | -€1 | -79.0% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -79.0% |
| Financial charges | 65/66B | €28,025 | €30,075 | +€2,050 | +7.3% |
| Recurring financial charges | 65 | €28,025 | €30,075 | +€2,050 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | -€366,266 | -€124,375 | +€241,891 | +66.0% |
| Profit (loss) for the period | 9904 | -€366,266 | -€124,375 | +€241,891 | +66.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€366,266 | -€124,375 | +€241,891 | +66.0% |
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 13 October 2026 via checked.be.