SHW: 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.
SHW
Largest movements
- Receivables within one year +€2.6m
up €2.6m (+6012.7%), from €42,468 to €2.6m
of which Trade receivables: +€2.2m
- Tangible fixed assets +€1.6m
up €1.6m (+267.8%), from €594,371 to €2.2m
of which Leasing and similar rights: +€1.2m
- Stocks and contracts +€182,636
up €182,636, from €0 to €182,636
- Intangible fixed assets +€66,507
new in 2024: €66,507
- Cash +€61,077
up €61,077 (+215.9%), from €28,286 to €89,362
mainly Other debts (+€1.9m) and Trade debts (+€1.2m)
- Other debts +€1.9m
up €1.9m (+1924.2%), from €101,291 to €2.1m
- Trade debts +€1.2m
up €1.2m (+207.2%), from €599,599 to €1.8m
- Debts after one year +€1.0m
new in 2024: €1.0m
- Current portion of long-term debt +€158,894
new in 2024: €158,894
- Tax, wage and social debts +€54,412
up €54,412 (+34425.2%), from €158 to €54,570
of which Remuneration and social security: +€49,241
- Turnover +€4.0m
up €4.0m (+2860.6%), from €138,194 to €4.1m
- Goods and materials +€2.8m
up €2.8m (+17449.9%), from €16,142 to €2.8m
of which Purchases: +€3.0m
- Services and other goods +€808,111
up €808,111 (+499.2%), from €161,883 to €969,995
- Staff costs +€143,531
new in 2024: €143,531
- Depreciation +€137,018
new in 2024: €137,018
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €665,124 | €5,120,465 | +€4.5m | +669.9% |
| Fixed assets | 21/28 | €594,371 | €2,252,516 | +€1.7m | +279.0% |
| Intangible fixed assets | 21 | - | €66,507 | +€66,507 | |
| Tangible fixed assets | 22/27 | €594,371 | €2,186,009 | +€1.6m | +267.8% |
| Plant, machinery and equipment | 23 | - | €346,320 | +€346,320 | |
| Leasing and similar rights | 25 | - | €1,181,617 | +€1.2m | |
| Assets under construction and advance payments | 27 | €594,371 | €658,072 | +€63,701 | +10.7% |
| Current assets | 29/58 | €70,754 | €2,867,949 | +€2.8m | +3953.4% |
| Stocks and contracts in progress | 3 | €0 | €182,636 | +€182,636 | |
| Stocks | 30/36 | - | €182,636 | +€182,636 | |
| Goods purchased for resale | 34 | - | €182,636 | +€182,636 | |
| Amounts receivable within one year | 40/41 | €42,468 | €2,595,950 | +€2.6m | +6012.7% |
| Trade receivables | 40 | €30,048 | €2,238,713 | +€2.2m | +7350.4% |
| Other amounts receivable | 41 | €12,420 | €357,237 | +€344,817 | +2776.3% |
| Cash at bank and in hand | 54/58 | €28,286 | €89,362 | +€61,077 | +215.9% |
| Total equity and liabilities | 10/49 | €665,124 | €5,120,465 | +€4.5m | +669.9% |
| Equity | 10/15 | -€35,923 | -€50,706 | -€14,783 | -41.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,923 | -€55,706 | -€14,783 | -36.1% |
| Amounts payable | 17/49 | €701,048 | €5,171,171 | +€4.5m | +637.6% |
| Amounts payable after more than one year | 17 | - | €1,028,119 | +€1.0m | |
| Financial debts | 170/4 | - | €1,028,119 | +€1.0m | |
| Leasing and similar obligations | 172 | - | €1,028,119 | +€1.0m | |
| Amounts payable within one year | 42/48 | €701,048 | €4,143,051 | +€3.4m | +491.0% |
| Current portion of amounts payable after more than one year | 42 | - | €158,894 | +€158,894 | |
| Financial debts | 43 | - | €37,343 | +€37,343 | |
| Credit institutions | 430/8 | - | €37,343 | +€37,343 | |
| Trade debts | 44 | €599,599 | €1,841,938 | +€1.2m | +207.2% |
| Suppliers | 440/4 | €599,599 | €1,841,938 | +€1.2m | +207.2% |
| Taxes, remuneration and social security | 45 | €158 | €54,570 | +€54,412 | +34425.2% |
| Taxes | 450/3 | €158 | €5,329 | +€5,171 | +3271.7% |
| Remuneration and social security | 454/9 | - | €49,241 | +€49,241 | |
| Other amounts payable | 47/48 | €101,291 | €2,050,307 | +€1.9m | +1924.2% |
| Operating income | 70/76A | €138,194 | €4,093,587 | +€4.0m | +2862.2% |
| Turnover | 70 | €138,194 | €4,091,343 | +€4.0m | +2860.6% |
| Other operating income | 74 | - | €2,243 | +€2,243 | |
| Operating charges | 60/66A | €179,049 | €4,084,154 | +€3.9m | +2181.0% |
| Goods for resale, raw materials and consumables | 60 | €16,142 | €2,832,927 | +€2.8m | +17449.9% |
| Purchases | 600/8 | €16,142 | €3,015,564 | +€3.0m | +18581.3% |
| Change in stocks: decrease (increase) | 609 | - | -€182,636 | -€182,636 | |
| Services and other goods | 61 | €161,883 | €969,995 | +€808,111 | +499.2% |
| Remuneration, social security and pensions | 62 | - | €143,531 | +€143,531 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €137,018 | +€137,018 | |
| Other operating charges | 640/8 | €1,023 | €683 | -€340 | -33.3% |
| Operating profit (loss) | 9901 | -€40,854 | €9,433 | +€50,287 | |
| Financial income | 75/76B | €350 | €89 | -€260 | -74.5% |
| Recurring financial income | 75 | €350 | €89 | -€260 | -74.5% |
| Other financial income | 752/9 | €350 | €89 | -€260 | -74.5% |
| Financial charges | 65/66B | €418 | €24,280 | +€23,862 | +5702.4% |
| Recurring financial charges | 65 | €418 | €24,280 | +€23,862 | +5702.4% |
| Debt charges | 650 | - | €22,500 | +€22,500 | |
| Other financial charges | 652/9 | €418 | €1,781 | +€1,362 | +325.5% |
| Profit (loss) for the period before taxes | 9903 | -€40,923 | -€14,758 | +€26,165 | +63.9% |
| Income taxes | 67/77 | - | €25 | +€25 | |
| Taxes | 670/3 | - | €25 | +€25 | |
| Profit (loss) for the period | 9904 | -€40,923 | -€14,783 | +€26,140 | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,923 | -€14,783 | +€26,140 | +63.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.