SINGH SHUBNEET: what changed
SINGH SHUBNEET
Largest movements
- Stocks and contracts -€4,201
down €4,201 (-19.4%), from €21,633 to €17,432
- Cash +€3,779
up €3,779 (+108%), from €3,499 to €7,278
mainly Stocks and contracts (+€4,201) and Depreciation (+€3,681)
- Intangible fixed assets -€3,500
down €3,500 (-11.1%), from €31,500 to €28,000
- Tangible fixed assets +€1,995
new in 2025: €1,995
- Receivables within one year -€667
down €667 (-64.4%), from €1,036 to €369
- Profit (loss) carried forward -€2,118
down €2,118 (-27.0%), from -€7,856 to -€9,975
- Trade debts -€715
no longer reported in 2025 (was €715)
- Gross operating margin +€5,966
up €5,966, from -€5,369 to €597
- Financial income -€508
down €508 (-31.3%), from €1,624 to €1,116
- Financial charges -€332
down €332 (-68.9%), from €482 to €150
- Depreciation +€181
up €181 (+5.2%), from €3,500 to €3,681
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,667 | €55,074 | -€2,593 | -4.5% |
| Fixed assets | 21/28 | €31,500 | €29,995 | -€1,505 | -4.8% |
| Intangible fixed assets | 21 | €31,500 | €28,000 | -€3,500 | -11.1% |
| Tangible fixed assets | 22/27 | - | €1,995 | +€1,995 | |
| Plant, machinery and equipment | 23 | - | €1,995 | +€1,995 | |
| Current assets | 29/58 | €26,167 | €25,079 | -€1,088 | -4.2% |
| Stocks and contracts in progress | 3 | €21,633 | €17,432 | -€4,201 | -19.4% |
| Stocks | 30/36 | €21,633 | €17,432 | -€4,201 | -19.4% |
| Amounts receivable within one year | 40/41 | €1,036 | €369 | -€667 | -64.4% |
| Other amounts receivable | 41 | €1,036 | €369 | -€667 | -64.4% |
| Cash at bank and in hand | 54/58 | €3,499 | €7,278 | +€3,779 | +108% |
| Total equity and liabilities | 10/49 | €57,667 | €55,074 | -€2,593 | -4.5% |
| Equity | 10/15 | -€7,856 | -€9,975 | -€2,118 | -27.0% |
| Profit (loss) carried forward | 14 | -€7,856 | -€9,975 | -€2,118 | -27.0% |
| Amounts payable | 17/49 | €65,524 | €65,049 | -€475 | -0.7% |
| Amounts payable within one year | 42/48 | €65,524 | €65,049 | -€475 | -0.7% |
| Trade debts | 44 | €715 | - | -€715 | |
| Suppliers | 440/4 | €715 | - | -€715 | |
| Taxes, remuneration and social security | 45 | - | €140 | +€140 | |
| Taxes | 450/3 | - | €140 | +€140 | |
| Other amounts payable | 47/48 | €64,809 | €64,909 | +€100 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,500 | €3,681 | +€181 | +5.2% |
| Other operating charges | 640/8 | €50 | - | -€50 | |
| Non-recurring operating charges | 66A | €79 | - | -€79 | |
| Gross operating margin | 9900 | -€5,369 | €597 | +€5,966 | |
| Operating profit (loss) | 9901 | -€8,998 | -€3,084 | +€5,914 | +65.7% |
| Financial income | 75/76B | €1,624 | €1,116 | -€508 | -31.3% |
| Recurring financial income | 75 | €1,624 | €1,116 | -€508 | -31.3% |
| Financial charges | 65/66B | €482 | €150 | -€332 | -68.9% |
| Recurring financial charges | 65 | €482 | €150 | -€332 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,856 | -€2,118 | +€5,738 | +73.0% |
| Profit (loss) for the period | 9904 | -€7,856 | -€2,118 | +€5,738 | +73.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,856 | -€2,118 | +€5,738 | +73.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.