SHWEB: 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.
SHWEB
Largest movements
- Tangible fixed assets +€16,206
up €16,206 (+1168.1%), from €1,387 to €17,593
- Cash -€10,954
down €10,954 (-23.4%), from €46,899 to €35,945
mainly Trade debts (-€24,182) and Investment in fixed assets (net) (-€18,423)
- Profit (loss) carried forward +€36,796
up €36,796 (+87.3%), from -€42,136 to -€5,340
- Trade debts -€24,182
no longer reported in 2025 (was €24,182)
- Debts after one year -€8,138
down €8,138 (-14.8%), from €55,021 to €46,884
- Tax, wage and social debts +€6,179
up €6,179 (+50.4%), from €12,265 to €18,444
- Other debts -€4,364
down €4,364 (-37.3%), from €11,708 to €7,344
- Gross operating margin +€22,122
up €22,122 (+98.9%), from €22,368 to €44,490
- Other operating charges -€4,885
down €4,885 (-84.2%), from €5,804 to €919
- Depreciation +€1,261
up €1,261 (+132.0%), from €956 to €2,217
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 | €76,781 | €82,488 | +€5,707 | +7.4% |
| Fixed assets | 21/28 | €1,537 | €17,743 | +€16,206 | +1054.2% |
| Tangible fixed assets | 22/27 | €1,387 | €17,593 | +€16,206 | +1168.1% |
| Furniture and vehicles | 24 | €1,387 | €17,593 | +€16,206 | +1168.1% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €75,244 | €64,745 | -€10,499 | -14.0% |
| Amounts receivable within one year | 40/41 | €28,253 | €28,799 | +€546 | +1.9% |
| Trade receivables | 40 | €28,253 | €28,799 | +€546 | +1.9% |
| Cash at bank and in hand | 54/58 | €46,899 | €35,945 | -€10,954 | -23.4% |
| Deferred charges and accrued income | 490/1 | €91 | - | -€91 | |
| Total equity and liabilities | 10/49 | €76,781 | €82,488 | +€5,707 | +7.4% |
| Equity | 10/15 | -€35,936 | €860 | +€36,796 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,136 | -€5,340 | +€36,796 | +87.3% |
| Amounts payable | 17/49 | €112,717 | €81,628 | -€31,089 | -27.6% |
| Amounts payable after more than one year | 17 | €55,021 | €46,884 | -€8,138 | -14.8% |
| Financial debts | 170/4 | €55,021 | €46,884 | -€8,138 | -14.8% |
| Amounts payable within one year | 42/48 | €57,597 | €34,744 | -€22,853 | -39.7% |
| Current portion of amounts payable after more than one year | 42 | €9,442 | €8,956 | -€486 | -5.1% |
| Trade debts | 44 | €24,182 | - | -€24,182 | |
| Suppliers | 440/4 | €24,182 | - | -€24,182 | |
| Taxes, remuneration and social security | 45 | €12,265 | €18,444 | +€6,179 | +50.4% |
| Taxes | 450/3 | €12,265 | €18,444 | +€6,179 | +50.4% |
| Other amounts payable | 47/48 | €11,708 | €7,344 | -€4,364 | -37.3% |
| Accrued charges and deferred income | 492/3 | €99 | - | -€99 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €956 | €2,217 | +€1,261 | +132.0% |
| Other operating charges | 640/8 | €5,804 | €919 | -€4,885 | -84.2% |
| Gross operating margin | 9900 | €22,368 | €44,490 | +€22,122 | +98.9% |
| Operating profit (loss) | 9901 | €15,608 | €41,353 | +€25,745 | +164.9% |
| Financial charges | 65/66B | €4,010 | €4,287 | +€277 | +6.9% |
| Recurring financial charges | 65 | €4,010 | €4,287 | +€277 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €11,598 | €37,066 | +€25,468 | +219.6% |
| Income taxes | 67/77 | €285 | €270 | -€16 | -5.4% |
| Profit (loss) for the period | 9904 | €11,313 | €36,796 | +€25,483 | +225.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,313 | €36,796 | +€25,483 | +225.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.