TOP SHINE: 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.
TOP SHINE
Largest movements
- Receivables within one year +€43,013
up €43,013 (+135.5%), from €31,738 to €74,752
of which Trade receivables: +€42,861
- Tangible fixed assets -€9,835
down €9,835 (-15.0%), from €65,522 to €55,687
of which Furniture and vehicles: -€12,895
- Deferred charges and accrued income +€2,094
up €2,094 (+43.1%), from €4,855 to €6,950
- Reserves +€25,395
up €25,395 (+48.5%), from €52,391 to €77,786
- Other debts +€14,480
new in 2025: €14,480
- Trade debts +€12,123
up €12,123 (+32.0%), from €37,889 to €50,012
- Debts after one year -€12,000
down €12,000 (-46.2%), from €26,000 to €14,000
- Tax, wage and social debts -€3,687
down €3,687 (-24.5%), from €15,066 to €11,378
- Gross operating margin +€16,664
up €16,664 (+29.9%), from €55,814 to €72,478
- Depreciation +€11,103
up €11,103 (+383.3%), from €2,897 to €14,000
- Financial charges +€1,448
up €1,448 (+892.8%), from €162 to €1,610
- Taxes +€1,341
up €1,341 (+8.9%), from €15,029 to €16,370
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 | €150,559 | €186,882 | +€36,323 | +24.1% |
| Fixed assets | 21/28 | €65,522 | €55,687 | -€9,835 | -15.0% |
| Tangible fixed assets | 22/27 | €65,522 | €55,687 | -€9,835 | -15.0% |
| Plant, machinery and equipment | 23 | - | €3,784 | +€3,784 | |
| Furniture and vehicles | 24 | €61,222 | €48,327 | -€12,895 | -21.1% |
| Other tangible fixed assets | 26 | €4,300 | €3,576 | -€724 | -16.8% |
| Current assets | 29/58 | €85,038 | €131,195 | +€46,158 | +54.3% |
| Amounts receivable within one year | 40/41 | €31,738 | €74,752 | +€43,013 | +135.5% |
| Trade receivables | 40 | €27,505 | €70,365 | +€42,861 | +155.8% |
| Other amounts receivable | 41 | €4,234 | €4,386 | +€153 | +3.6% |
| Cash at bank and in hand | 54/58 | €48,444 | €49,494 | +€1,050 | +2.2% |
| Deferred charges and accrued income | 490/1 | €4,855 | €6,950 | +€2,094 | +43.1% |
| Total equity and liabilities | 10/49 | €150,559 | €186,882 | +€36,323 | +24.1% |
| Equity | 10/15 | €59,605 | €85,000 | +€25,395 | +42.6% |
| Contributions | 10/11 | €7,051 | €7,051 | = | 0.0% |
| Reserves | 13 | €52,391 | €77,786 | +€25,395 | +48.5% |
| Distributable reserves | 133 | €52,391 | €77,786 | +€25,395 | +48.5% |
| Profit (loss) carried forward | 14 | €164 | €164 | = | 0.0% |
| Amounts payable | 17/49 | €90,954 | €101,882 | +€10,928 | +12.0% |
| Amounts payable after more than one year | 17 | €26,000 | €14,000 | -€12,000 | -46.2% |
| Financial debts | 170/4 | €26,000 | €14,000 | -€12,000 | -46.2% |
| Amounts payable within one year | 42/48 | €64,954 | €87,870 | +€22,916 | +35.3% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €12,000 | = | 0.0% |
| Trade debts | 44 | €37,889 | €50,012 | +€12,123 | +32.0% |
| Suppliers | 440/4 | €37,889 | €50,012 | +€12,123 | +32.0% |
| Taxes, remuneration and social security | 45 | €15,066 | €11,378 | -€3,687 | -24.5% |
| Taxes | 450/3 | €15,066 | €11,378 | -€3,687 | -24.5% |
| Other amounts payable | 47/48 | - | €14,480 | +€14,480 | |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Remuneration, social security and pensions | 62 | €57 | - | -€57 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,897 | €14,000 | +€11,103 | +383.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€658 | -€658 | |
| Other operating charges | 640/8 | €803 | €444 | -€359 | -44.7% |
| Gross operating margin | 9900 | €55,814 | €72,478 | +€16,664 | +29.9% |
| Operating profit (loss) | 9901 | €52,056 | €58,692 | +€6,635 | +12.7% |
| Financial income | 75/76B | €119 | €90 | -€29 | -24.7% |
| Recurring financial income | 75 | €119 | €90 | -€29 | -24.7% |
| Financial charges | 65/66B | €162 | €1,610 | +€1,448 | +892.8% |
| Recurring financial charges | 65 | €162 | €1,610 | +€1,448 | +892.8% |
| Profit (loss) for the period before taxes | 9903 | €52,014 | €57,171 | +€5,158 | +9.9% |
| Income taxes | 67/77 | €15,029 | €16,370 | +€1,341 | +8.9% |
| Profit (loss) for the period | 9904 | €36,985 | €40,801 | +€3,817 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €36,985 | €40,801 | +€3,817 | +10.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.