TRIANGLE (SHELTON): 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.
TRIANGLE (SHELTON)
Largest movements
- Financial fixed assets +€4.2m
up €4.2m (+194%), from €2.2m to €6.3m
- Receivables within one year +€642,553
up €642,553 (+33,962%), from €1,892 to €644,445
of which Other amounts receivable: +€642,533
- Revaluation surpluses +€4.3m
new in 2025: €4.3m
- Profit (loss) carried forward +€281,861
up €281,861 (+2,412%), from €11,686 to €293,547
- Other debts +€224,900
up €224,900 (+19.4%), from €1.2m to €1.4m
- Taxes -€26,681
down €26,681 (-97.2%), from €27,439 to €758
- Financial income +€23,690
up €23,690 (+8.5%), from €278,952 to €302,642
- Gross operating margin -€17,569
down €17,569 (-20.1%), from €87,265 to €69,696
- Staff costs +€5,272
up €5,272 (+6.5%), from €81,391 to €86,663
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 | €2,156,359 | €6,965,976 | +€4.8m | +223% |
| Fixed assets | 21/28 | €2,151,391 | €6,319,563 | +€4.2m | +194% |
| Financial fixed assets | 28 | €2,151,391 | €6,319,563 | +€4.2m | +194% |
| Current assets | 29/58 | €4,968 | €646,413 | +€641,445 | +12,912% |
| Amounts receivable within one year | 40/41 | €1,892 | €644,445 | +€642,553 | +33,962% |
| Trade receivables | 40 | €1,775 | €1,795 | +€20 | +1.1% |
| Other amounts receivable | 41 | €117 | €642,650 | +€642,533 | +549,174% |
| Cash at bank and in hand | 54/58 | €2,597 | €1,870 | -€727 | -28.0% |
| Deferred charges and accrued income | 490/1 | €479 | €98 | -€381 | -79.5% |
| Total equity and liabilities | 10/49 | €2,156,359 | €6,965,976 | +€4.8m | +223% |
| Equity | 10/15 | €924,383 | €5,550,773 | +€4.6m | +500% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €4,344,529 | +€4.3m | |
| Reserves | 13 | €851,197 | €851,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €845,000 | €845,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,686 | €293,547 | +€281,861 | +2,412% |
| Amounts payable | 17/49 | €1,231,976 | €1,415,203 | +€183,227 | +14.9% |
| Amounts payable within one year | 42/48 | €1,228,625 | €1,411,979 | +€183,354 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €6,316 | €6,184 | -€132 | -2.1% |
| Trade debts | 44 | €316 | - | -€316 | |
| Suppliers | 440/4 | €316 | - | -€316 | |
| Taxes, remuneration and social security | 45 | €61,174 | €20,076 | -€41,098 | -67.2% |
| Taxes | 450/3 | €52,948 | €11,210 | -€41,738 | -78.8% |
| Remuneration and social security | 454/9 | €8,226 | €8,866 | +€640 | +7.8% |
| Other amounts payable | 47/48 | €1,160,819 | €1,385,719 | +€224,900 | +19.4% |
| Accrued charges and deferred income | 492/3 | €3,351 | €3,224 | -€127 | -3.8% |
| Non-recurring operating income | 76A | - | €4,845 | +€4,845 | |
| Remuneration, social security and pensions | 62 | €81,391 | €86,663 | +€5,272 | +6.5% |
| Other operating charges | 640/8 | €1,711 | €1,253 | -€458 | -26.8% |
| Gross operating margin | 9900 | €87,265 | €69,696 | -€17,569 | -20.1% |
| Operating profit (loss) | 9901 | €4,163 | -€18,220 | -€22,383 | |
| Financial income | 75/76B | €278,952 | €302,642 | +€23,690 | +8.5% |
| Recurring financial income | 75 | €278,952 | €302,642 | +€23,690 | +8.5% |
| Financial charges | 65/66B | €1,052 | €1,803 | +€751 | +71.4% |
| Recurring financial charges | 65 | €1,052 | €1,803 | +€751 | +71.4% |
| Profit (loss) for the period before taxes | 9903 | €282,063 | €282,619 | +€556 | +0.2% |
| Income taxes | 67/77 | €27,439 | €758 | -€26,681 | -97.2% |
| Profit (loss) for the period | 9904 | €254,624 | €281,861 | +€27,237 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €254,624 | €281,861 | +€27,237 | +10.7% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.