SHIFT FROM WITHIN
ActiveSummary
The computed 12-month bankruptcy probability of SHIFT FROM WITHIN is 1.8% (moderate). The 2025 annual accounts show negative equity (-€35,446) and a net result of €198,381. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 7114 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency8▼-64
Growth58▲+26
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.81 against 1.63 in 2024; short-term debt: 117% and cash: 59.3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-17%
Return on assets
94.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 7114 sector peers (2025).
NBB · sector comparisonPosition among 7114 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 d early
2024
17 d early
2023
19 d early
2022
31 d late
2021
10 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 21 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
-€35,446
2024 · €36,173
Total assets
€209,104▲ 169%
2024 · €77,772
Net result
€198,381▲ 235%
2024 · €59,251
Working capital
-€45,734
2024 · €26,276
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€90,474-€18,479▼ 79.6%€96,949▲ 425%€74,861▼ 22.8%€265,488▲ 255%
Net result€71,619above the sector's middle half-€13,884within the sector's middle half▼ 80.6%€76,618above the sector's middle half▲ 452%€59,251above the sector's middle half▼ 22.7%€198,381above the sector's middle half▲ 235%
Equity€73,019within the sector's middle half-€85,304within the sector's middle half▲ 16.8%€161,922within the sector's middle half▲ 89.8%€36,173within the sector's middle half▼ 77.7%-€35,446below the sector's middle half
Total assets€121,387within the sector's middle half-€114,703within the sector's middle half▼ 5.5%€214,099within the sector's middle half▲ 86.7%€77,772within the sector's middle half▼ 63.7%€209,104within the sector's middle half▲ 169%
Debt€48,367-€29,399▼ 39.2%€52,177▲ 77.5%€41,599▼ 20.3%€244,550▲ 488%
Working capital€59,461within the sector's middle half-€76,872within the sector's middle half▲ 29.3%€157,129above the sector's middle half▲ 104%€26,276within the sector's middle half▼ 83.3%-€45,734below the sector's middle half
Solvency60.2%within the sector's middle half-74.4%within the sector's middle half▲ 14.2pp75.6%within the sector's middle half▲ 1.3pp46.5%within the sector's middle half▼ 29.1pp-17.0%below the sector's middle half▼ 63.5pp
Current ratio2.25within the sector's middle half-3.61within the sector's middle half▲ 1.364.01within the sector's middle half▲ 0.401.63within the sector's middle half▼ 2.380.81below the sector's middle half▼ 0.82
Return on assets (ROA)59.0%above the sector's middle half-12.1%within the sector's middle half▼ 46.9pp35.8%above the sector's middle half▲ 23.7pp76.2%above the sector's middle half▲ 40.4pp94.9%above the sector's middle half▲ 18.7pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 255% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €209,104
Fixed assets
€10,288 ▲ 4.0%
Current assets
€198,816 ▲ 193%
Key figures and ratios
EBITDA
€267,929▲
2024 · €78,816
Cash flow
€200,822▲
2024 · €63,206
Debt to equity
-6.90▼
2024 · 1.15
Interest coverage
6631.90▲
2024 · 1625.06
Debt ≤ 1 year
€244,550▲
2024 · €41,599
Income taxes
€67,275▲
2024 · €15,561
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,180 companies that looked in July 2024 the way this one looks now, 4.8% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.8%
went bankrupt
5.8%
stopped otherwise
89%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% 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 497,340 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% | 1.0% |
| 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% 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 2,180 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,561 | €5,997 | €6,419 | €3,955 | €2,441 | ▼ 38.3% |
| Other operating charges640/8 | - | €120 | €642 | €445 | €568 | ▲ 27.5% |
| Gross operating margin9900 | €94,035 | €24,596 | €104,010 | €79,261 | €268,497 | ▲ 239% |
| Operating profit (loss)9901 | €90,474 | €18,479 | €96,949 | €74,861 | €265,488 | ▲ 255% |
| Financial income75/76B | - | - | - | - | €209 | - |
| Recurring financial income75 | - | - | - | - | €209 | - |
| Financial charges65/66B | €204 | €39 | €39 | €49 | €40 | ▼ 16.7% |
| Recurring financial charges65 | €204 | €39 | €39 | €49 | €40 | ▼ 16.7% |
| Profit (loss) for the period before taxes9903 | €90,269 | €18,440 | €96,910 | €74,813 | €265,656 | ▲ 255% |
| Income taxes67/77 | €18,650 | €4,556 | €20,292 | €15,561 | €67,275 | ▲ 332% |
| Profit (loss) for the period9904 | €71,619 | €13,884 | €76,618 | €59,251 | €198,381 | ▲ 235% |
| Profit (loss) for the period to be appropriated9905 | €71,619 | €13,884 | €76,618 | €59,251 | €198,381 | ▲ 235% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €121,387 | €114,703 | €214,099 | €77,772 | €209,104 | ▲ 169% |
| Fixed assets21/28 | €14,429 | €8,432 | €4,793 | €9,897 | €10,288 | ▲ 4.0% |
| Tangible fixed assets22/27 | €14,429 | €8,432 | €4,793 | €9,897 | €10,288 | ▲ 4.0% |
| Plant, machinery and equipment23 | €784 | €358 | - | - | - | - |
| Furniture and vehicles24 | €13,644 | €8,074 | €4,793 | €9,897 | €10,288 | ▲ 4.0% |
| Current assets29/58 | €106,958 | €106,271 | €209,306 | €67,875 | €198,816 | ▲ 193% |
| Amounts receivable within one year40/41 | €12,955 | €39,638 | €18,359 | €22,251 | €60,726 | ▲ 173% |
| Trade receivables40 | €12,950 | €37,100 | €18,350 | €20,312 | €48,505 | ▲ 139% |
| Other amounts receivable41 | €4 | €2,538 | €9 | €1,939 | €12,222 | ▲ 530% |
| Current investments50/53 | - | - | - | €13,828 | €13,828 | = |
| Cash at bank and in hand54/58 | €93,141 | €66,314 | €190,439 | €31,266 | €123,971 | ▲ 297% |
| Deferred charges and accrued income490/1 | €863 | €318 | €508 | €530 | €291 | ▼ 45.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €121,387 | €114,703 | €214,099 | €77,772 | €209,104 | ▲ 169% |
| Equity10/15 | €73,019 | €85,304 | €161,922 | €36,173 | -€35,446 | ▼ 198% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €70,019 | €82,304 | €158,922 | €33,173 | - | - |
| Distributable reserves133 | €70,019 | €82,304 | €158,922 | €33,173 | - | - |
| Profit (loss) carried forward14 | - | - | - | - | -€38,446 | - |
| Amounts payable17/49 | €48,367 | €29,399 | €52,177 | €41,599 | €244,550 | ▲ 488% |
| Amounts payable within one year42/48 | €47,497 | €29,399 | €52,177 | €41,599 | €244,550 | ▲ 488% |
| Trade debts44 | €15,674 | €244 | €1,048 | €1,138 | €1,545 | ▲ 35.8% |
| Suppliers440/4 | €15,674 | €244 | €1,048 | €1,138 | €1,545 | ▲ 35.8% |
| Taxes, remuneration and social security45 | €22,696 | €5,273 | €31,583 | €3,898 | - | - |
| Taxes450/3 | €22,696 | €4,613 | €31,583 | €3,898 | - | - |
| Remuneration and social security454/9 | - | €659 | - | - | - | - |
| Other amounts payable47/48 | €9,128 | €23,882 | €19,546 | €36,562 | €243,005 | ▲ 565% |
| Accrued charges and deferred income492/3 | €870 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71,619 | €13,884 | €76,618 | €59,251 | €198,381 | ▲ 235% |
| + Depreciation and write-downs630 | €3,561 | €5,997 | €6,419 | €3,955 | €2,441 | ▼ 38.3% |
| Operating cash flow (approximation) | €75,181 | €19,881 | €83,037 | €63,206 | €200,822 | ▲ 218% |
| Investment in fixed assets (approximation) | - | €0 | -€2,780 | -€9,059 | -€2,832 | ▲ 68.7% |
| Change in cash | - | -€26,826 | €124,125 | -€159,173 | €92,704 | ▲ 158% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2021net €198,381 ▲235%
Operating result €265,488, net result €198,381, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
07-07
State Gazette act
Board meeting · Power of attorney
General meeting · Director resignation
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150,000Eq €161,922 ▲89.8%
3 profitable years in a row build equity to €161,922.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €13,884 ▼80.6%
Net result drops to €13,884, the lowest in the series; recovery starts the following year.
21-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Leuven · 2 establishment units since 2020
Ground area
4,942 m²
Building footprint
916 m²
Volume, LiDAR
24,002 m³
3 parcels, Flanders · tallest building 53.3 m, ±17 floors. Linked by address, not a title deed.
2 establishment units
SHIFT FROM WITHIN
since 20202.310.494.567
Zeedijk 99, 8400 Oostende
since 20242.367.007.163
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35384A0089/00K031 | Flanders | 2,471 m² | 1 · 383 m² | 53.3 m · 17 fl. |
| 24505F0820/00X000 | Flanders | 2,135 m² | 1 · 282 m² | 6.9 m · 2 fl. |
| 24505F0821/00P000 | Flanders | 336 m² | 1 · 251 m² | 15.9 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
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Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
24 locations
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,907. 5,307 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
85592Vocational training
E-invoicing
Reachable via Peppol
Peppol ID
0208:0757817646
Also
9925:BE0757817646
Registered
06-04-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.