Shift
ActiveSummary
Shift has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €681,602 and a net result of €136,315. Equity is growing by about 28% per year across the filed financial years. Its solvency ranks better than 95% of 11,720 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €681,602
- Profit
- €136,315
- DEFRAEYE StijnDirector
- Delphine SioenDirector
Why 97lowers riskLiquidity: current ratio 19.26, cash €204,330Sector: Architectural and engineering activities; technical testing and analysis (NACE 71)Equity €681,602 (96.2% of total assets)Size: total assets €708,327Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro): better than 87% on solvency, 76% on liquidity, 68% on profitability and 57% on growth.
The bankruptcy probability was computed on 25-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 2 days after the deadline; the sector median (NACE 71) for financial year 2024 is 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Appointment: Delphine Sioen (director)Power of attorney
- Liquidity more than doubledcurrent ratio 19.26
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has fallen two years in a row; 2025 is 6% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 6,782 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 96.7% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,782 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €5,602 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,493 | €5,246 | €10,401 | €16,581 | €36,468 | €41,535 | €40,389 | ▼ 2.8% |
| Other operating charges640/8 | - | - | €1,438 | €1,144 | €857 | €1,189 | €1,423 | ▲ 19.7% |
| Gross operating margin9900 | €103,182 | €129,269 | €140,260 | €150,871 | €268,100 | €228,076 | €215,336 | ▼ 5.6% |
| Operating profit (loss)9901 | €96,230 | €123,179 | €128,421 | €133,146 | €230,775 | €185,352 | €173,525 | ▼ 6.4% |
| Financial income75/76B | - | - | €2,365 | €1,538 | €1,440 | €4,319 | €5,095 | ▲ 18.0% |
| Recurring financial income75 | €57 | €11 | €2,365 | €1,538 | €1,440 | €4,319 | €5,095 | ▲ 18.0% |
| Financial charges65/66B | - | - | €435 | €204 | €114 | €569 | €118 | ▼ 79.3% |
| Recurring financial charges65 | €761 | €467 | €435 | €204 | €114 | €569 | €118 | ▼ 79.3% |
| Profit (loss) for the period before taxes9903 | €95,526 | €122,724 | €130,351 | €134,479 | €232,101 | €189,102 | €178,502 | ▼ 5.6% |
| Income taxes67/77 | €27,000 | €35,721 | €31,425 | €37,463 | €69,957 | €52,579 | €42,187 | ▼ 19.8% |
| Profit (loss) for the period9904 | €68,526 | €87,003 | €98,925 | €97,016 | €162,144 | €136,523 | €136,315 | ▼ 0.2% |
| Profit (loss) for the period to be appropriated9905 | €68,526 | €87,003 | €98,925 | €97,016 | €162,144 | €136,523 | €136,315 | ▼ 0.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €113,719 | €250,902 | €331,444 | €380,386 | €559,542 | €671,897 | €708,327 | ▲ 5.4% |
| Fixed assets21/28 | €16,691 | €25,784 | €150,681 | €195,320 | €259,404 | €230,813 | €193,689 | ▼ 16.1% |
| Tangible fixed assets22/27 | €16,441 | €25,534 | €150,431 | €195,070 | €259,154 | €230,563 | €193,439 | ▼ 16.1% |
| Land and buildings22 | - | - | €121,474 | €160,334 | €151,137 | €138,426 | €125,715 | ▼ 9.2% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,074 | - |
| Furniture and vehicles24 | - | - | €9,292 | €18,689 | €95,586 | €71,003 | €48,643 | ▼ 31.5% |
| Other tangible fixed assets26 | - | - | €19,664 | €16,048 | €12,431 | €21,134 | €18,007 | ▼ 14.8% |
| Financial fixed assets28 | €250 | €250 | €250 | €250 | €250 | €250 | €250 | = |
| Current assets29/58 | €97,028 | €225,118 | €180,763 | €185,065 | €300,138 | €441,084 | €514,638 | ▲ 16.7% |
| Amounts receivable after more than one year29 | - | - | €55,000 | €55,000 | €55,000 | €55,000 | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | €55,000 | €55,000 | €55,000 | €55,000 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €15,883 | €17,242 | €16,164 | €19,721 | €41,385 | €40,736 | €29,628 | ▼ 27.3% |
| Trade receivables40 | - | - | €16,164 | €17,184 | €40,894 | €21,074 | €20,454 | ▼ 2.9% |
| Other amounts receivable41 | - | - | - | €2,537 | €491 | €19,662 | €9,174 | ▼ 53.3% |
| Current investments50/53 | - | - | - | - | €106,000 | €274,000 | €280,680 | ▲ 2.4% |
| Cash at bank and in hand54/58 | €81,145 | €207,877 | €109,599 | €110,344 | €97,753 | €71,348 | €204,330 | ▲ 186% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €113,719 | €250,902 | €331,444 | €380,386 | €559,542 | €671,897 | €708,327 | ▲ 5.4% |
| Equity10/15 | €80,926 | €167,929 | €266,854 | €363,870 | €526,015 | €615,479 | €681,602 | ▲ 10.7% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €68,526 | €155,529 | €254,454 | €351,470 | €513,615 | €603,079 | €669,202 | ▲ 11.0% |
| Distributable reserves133 | - | - | €254,454 | €351,470 | €513,615 | €603,079 | €669,202 | ▲ 11.0% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | - |
| Amounts payable17/49 | €32,793 | €82,973 | €64,590 | €16,515 | €33,527 | €56,418 | €26,725 | ▼ 52.6% |
| Amounts payable within one year42/48 | €32,793 | €82,973 | €64,590 | €16,515 | €33,527 | €56,418 | €26,725 | ▼ 52.6% |
| Trade debts44 | €685 | €3,029 | €21,815 | €1,521 | €3,570 | €853 | €1,633 | ▲ 91.5% |
| Suppliers440/4 | - | - | €21,815 | €1,521 | €3,570 | €853 | €1,633 | ▲ 91.5% |
| Taxes, remuneration and social security45 | - | - | €37,275 | €7,463 | €29,957 | €8,506 | €17,284 | ▲ 103% |
| Taxes450/3 | - | - | €37,275 | €7,463 | €29,957 | €8,506 | €17,284 | ▲ 103% |
| Other amounts payable47/48 | - | - | €5,499 | €7,531 | - | €47,059 | €7,808 | ▼ 83.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €68,526 | €87,003 | €98,925 | €97,016 | €162,144 | €136,523 | €136,315 | ▼ 0.2% |
| + Depreciation and write-downs630 | €4,493 | €5,246 | €10,401 | €16,581 | €36,468 | €41,535 | €40,389 | ▼ 2.8% |
| Operating cash flow (approximation) | €73,019 | €92,249 | €109,326 | €113,598 | €198,612 | €178,058 | €176,704 | ▼ 0.8% |
| Investment in fixed assets (approximation) | - | -€14,340 | -€135,297 | -€61,221 | -€100,551 | -€12,944 | -€3,265 | ▲ 74.8% |
| Change in cash | - | €126,731 | -€98,277 | €745 | -€12,591 | -€26,405 | €132,982 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 01-07-2026 | 2026-00234965 |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00223161 |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00308626 |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00170974 |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20416433 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-65800426 |
| 31-12-2019 | micro format | 11-09-2020 | 2020-52600040 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2022 · 1 entry · €177 awarded · €177 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DEFRAEYE Stijn |
|
| Delphine Sioen |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
03-04
Gazette deed
Appointment: Delphine Sioen (director)Power of attorney4 facts ▸
- General meeting, 20-03-2026
- Director appointment, Delphine Sioen (director)
- Power of attorney, Shari Laflere
- Power of attorney, Michaël Lagrou
24-01
Gazette deed
Resignation: DEFRAEYE Stijn (manager)Appointment: DEFRAEYE Stijn (director) · Amendment of the articles · Capital conversion9 facts ▸
- General meeting, “buitengewone algemene vergadering” (deed in Dutch)
- Amendment of the articles (2 times)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Capital
- Director resignation, DEFRAEYE Stijn (manager)
- Director discharge, DEFRAEYE Stijn
- Director appointment, DEFRAEYE Stijn (director)
- Registered office clause, “Vlaams Gewest, Magerheidstraat 32,8940 Wervik” (deed in Dutch)
- Power of attorney
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 2 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 26 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 33009B0677/00K002 | Flanders | 570 m² | 1 · 145 m² | 7.6 m · 1 |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- Shift
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, bijlagen tot het Belgisch Staatsblad door zorgen bestuursorgaan” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Bestuursorgaan, één of meer bestuurders” (deed in Dutch)“Handelingen die wet of statuten aan algemene vergadering voorbehouden, geheel van bevoegdheden aan hem toegekend met mogelijkheid deel te…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Friday of June at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Vormen vereist voor statutenwijziging, algemene vergadering” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Ontbinding om welke reden en op welk ogenblik ook, bestuurder(s) in functie krachtens statuten indien geen andere vereffenaar benoemd” (deed in Dutch)