SHERSHEN & CO: 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.
SHERSHEN & CO
Largest movements
- Receivables after one year +€63,500
up €63,500 (+121%), from €52,500 to €116,000
- Tangible fixed assets +€3,022
up €3,022 (+181%), from €1,666 to €4,688
of which Other tangible fixed assets: +€3,258
- Receivables within one year +€2,668
up €2,668 (+11.4%), from €23,395 to €26,063
of which Other amounts receivable: +€1,762
- Reserves +€83,395
up €83,395 (+76.5%), from €108,996 to €192,391
- Trade debts -€13,556
down €13,556 (-87.7%), from €15,456 to €1,900
- Gross operating margin -€2,318
down €2,318 (-2.0%), from €114,881 to €112,562
- Financial income +€1,448
up €1,448 (+155%), from €936 to €2,384
- Financial charges -€1,180
down €1,180 (-94.0%), from €1,255 to €75
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 | €133,762 | €203,289 | +€69,527 | +52.0% |
| Fixed assets | 21/28 | €1,666 | €4,688 | +€3,022 | +181% |
| Tangible fixed assets | 22/27 | €1,666 | €4,688 | +€3,022 | +181% |
| Furniture and vehicles | 24 | €1,666 | €1,430 | -€237 | -14.2% |
| Other tangible fixed assets | 26 | - | €3,258 | +€3,258 | |
| Current assets | 29/58 | €132,096 | €198,601 | +€66,505 | +50.3% |
| Amounts receivable after more than one year | 29 | €52,500 | €116,000 | +€63,500 | +121% |
| Other amounts receivable | 291 | €52,500 | €116,000 | +€63,500 | +121% |
| Stocks and contracts in progress | 3 | €3,600 | €3,600 | = | 0.0% |
| Stocks | 30/36 | €3,600 | €3,600 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,395 | €26,063 | +€2,668 | +11.4% |
| Trade receivables | 40 | €21,464 | €22,370 | +€906 | +4.2% |
| Other amounts receivable | 41 | €1,931 | €3,693 | +€1,762 | +91.2% |
| Cash at bank and in hand | 54/58 | €52,601 | €52,939 | +€338 | +0.6% |
| Total equity and liabilities | 10/49 | €133,762 | €203,289 | +€69,527 | +52.0% |
| Equity | 10/15 | €111,996 | €195,391 | +€83,395 | +74.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €108,996 | €192,391 | +€83,395 | +76.5% |
| Distributable reserves | 133 | €108,996 | €192,391 | +€83,395 | +76.5% |
| Amounts payable | 17/49 | €21,766 | €7,898 | -€13,868 | -63.7% |
| Amounts payable within one year | 42/48 | €21,766 | €7,898 | -€13,868 | -63.7% |
| Trade debts | 44 | €15,456 | €1,900 | -€13,556 | -87.7% |
| Suppliers | 440/4 | €15,456 | €1,900 | -€13,556 | -87.7% |
| Taxes, remuneration and social security | 45 | €5,365 | €5,184 | -€181 | -3.4% |
| Taxes | 450/3 | €5,365 | €5,184 | -€181 | -3.4% |
| Other amounts payable | 47/48 | €946 | €815 | -€131 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €650 | €928 | +€278 | +42.8% |
| Other operating charges | 640/8 | €254 | €6 | -€247 | -97.5% |
| Non-recurring operating charges | 66A | €886 | €63 | -€823 | -92.9% |
| Gross operating margin | 9900 | €114,881 | €112,562 | -€2,318 | -2.0% |
| Operating profit (loss) | 9901 | €113,091 | €111,565 | -€1,526 | -1.3% |
| Financial income | 75/76B | €936 | €2,384 | +€1,448 | +155% |
| Recurring financial income | 75 | €936 | €2,384 | +€1,448 | +155% |
| Financial charges | 65/66B | €1,255 | €75 | -€1,180 | -94.0% |
| Recurring financial charges | 65 | €1,255 | €75 | -€1,180 | -94.0% |
| Profit (loss) for the period before taxes | 9903 | €112,771 | €113,873 | +€1,102 | +1.0% |
| Income taxes | 67/77 | €29,684 | €30,478 | +€794 | +2.7% |
| Profit (loss) for the period | 9904 | €83,088 | €83,395 | +€308 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,088 | €83,395 | +€308 | +0.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.