Shift Logistics
ActiveSummary
The computed 12-month bankruptcy probability of Shift Logistics is 4.3% (elevated). The 2025 annual accounts show equity of €2,474 and a net result of €27,021. Equity has been growing by about 157% per year since 2022. Its solvency ranks better than 12% of 889 sector peers (NACE 52, financial year 2025). The company has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 08-09-2021 Normal situation
- Activity
- Logistics services NACE 52250and 5 others
- Joint committees
- 100 Aanvullend Paritair Comité voor de werklieden
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2022
- Establishment unit
- 2.324.158.008 8000 Brugge, since 08-09-2021
- Financial year end
- 30 September
- Peppol
- Reachable since 12-01-2026
Board and ownership
- All-Time High BVDirector
- All-Time High100%· score 662025 annual accounts of All-Time High
Financial position
- Bankruptcy probabilitywithin 12 months
- 4.3%
- Gross margin
- €188,406
- ▲ 44.9%
- Turnover
- ≈ €480,000
- estimated
- Profit
- €27,021
- Equity
- €2,474
- Total assets
- €246,133
- ▲ 50.3%
- Employees on 30-09-2025
- 2
- ▼ 33.3%
Score breakdownraises riskFounded in 2021Sector: Warehousing and support activities for transportation (NACE 52)1 change of registered office in 24 monthslowers riskFigures for financial year 2025 (filed on 03-12-2025)Show the evidence
Checked score
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 52, micro). It does better than 14% of them on solvency, 4% on liquidity, 69% on profitability and 91% on growth.
The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 75 days before the deadline. In the sector (NACE 52), the median for financial year 2024 was 8 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-12-2025 PDF all 3 filings
2022 to 2025, 3 financial years
The operating result for 2025 is a profit of €31,001, after a loss of €44,688 in 2024. It is the highest result since 2022.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Warehousing and support activities for transportation (NACE 52). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2022 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | - | 3 | 2 |
| full-time | - | 3 | 2 |
| part-time | - | 0 | 0 |
| in full-time equivalents | - | 3 | 2 |
| Average over the year, in full-time equivalents | 0.1 | 1.6 | 2.2 |
| On a permanent contract | - | 1 | 2 |
| Joined | 1 | 11 | 7 |
| Left | 1 | 8 | 8 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|
| Tangible fixed assets | €2,370 | €23,667 | €3,000 |
| Intangible fixed assets | €29,258 | €12,185 | €3,200 |
| Financial fixed assets | €76,500 | - | €7,500 |
| Depreciation and write-downs of the year | €7,528 | €22,453 | €14,006 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €3,446 | €150,289 | €102,579 | ▼ 31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,528 | €22,453 | €14,006 | ▼ 37.6% |
| Other operating charges640/8 | €4,282 | €1,979 | €40,820 | ▲ 21× |
| Gross operating margin9900 | -€102,244 | €130,033 | €188,406 | ▲ 44.9% |
| Operating profit (loss)9901 | -€117,501 | -€44,688 | €31,001 | - |
| Financial income75/76B | - | €1,354 | €4 | ▼ 99.7% |
| Recurring financial income75 | - | €1,354 | €4 | ▼ 99.7% |
| Financial charges65/66B | €12 | €18,200 | €3,984 | ▼ 78.1% |
| Recurring financial charges65 | €12 | €18,200 | €3,984 | ▼ 78.1% |
| Profit (loss) for the period before taxes9903 | -€117,513 | -€61,534 | €27,021 | - |
| Profit (loss) for the period9904 | -€117,513 | -€61,534 | €27,021 | - |
| Profit (loss) for the period to be appropriated9905 | -€117,513 | -€61,534 | €27,021 | - |
| Line | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €156,405 | €163,800 | €246,133 | ▲ 50.3% |
| Fixed assets21/28 | €70,099 | €66,573 | €66,267 | ▼ 0.5% |
| Intangible fixed assets21 | €22,262 | €21,188 | €15,726 | ▼ 25.8% |
| Tangible fixed assets22/27 | €1,838 | €16,311 | €13,967 | ▼ 14.4% |
| Plant, machinery and equipment23 | €1,838 | €16,311 | €13,967 | ▼ 14.4% |
| Financial fixed assets28 | €46,000 | €29,075 | €36,575 | ▲ 25.8% |
| Current assets29/58 | €86,306 | €97,227 | €179,866 | ▲ 85.0% |
| Amounts receivable within one year40/41 | €83,561 | €94,916 | €170,607 | ▲ 79.7% |
| Trade receivables40 | €47,390 | €94,431 | €169,861 | ▲ 79.9% |
| Other amounts receivable41 | €36,171 | €485 | €747 | ▲ 54.0% |
| Cash at bank and in hand54/58 | €2,524 | €1,147 | €6,099 | ▲ 432% |
| Deferred charges and accrued income490/1 | €220 | €1,164 | €3,160 | ▲ 171% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €156,405 | €163,800 | €246,133 | ▲ 50.3% |
| Equity10/15 | -€113,013 | -€24,547 | €2,474 | - |
| Contributions10/11 | €4,500 | €154,500 | €154,500 | = |
| Profit (loss) carried forward14 | -€117,513 | -€179,047 | -€152,026 | ▲ 15.1% |
| Amounts payable17/49 | €269,419 | €188,347 | €243,659 | ▲ 29.4% |
| Amounts payable within one year42/48 | €269,419 | €184,549 | €243,659 | ▲ 32.0% |
| Trade debts44 | €225,324 | €123,353 | €173,687 | ▲ 40.8% |
| Suppliers440/4 | €225,324 | €123,353 | €173,687 | ▲ 40.8% |
| Taxes, remuneration and social security45 | - | €28,085 | €11,137 | ▼ 60.3% |
| Taxes450/3 | - | €10,013 | €660 | ▼ 93.4% |
| Remuneration and social security454/9 | - | €18,073 | €10,477 | ▼ 42.0% |
| Other amounts payable47/48 | €44,094 | €33,110 | €58,835 | ▲ 77.7% |
| Accrued charges and deferred income492/3 | - | €3,799 | €0 | ▼ 100% |
| Line | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€117,513 | -€61,534 | €27,021 | - |
| + Depreciation and write-downs630 | €7,528 | €22,453 | €14,006 | ▼ 37.6% |
| Operating cash flow (approximation) | -€109,985 | -€39,081 | €41,027 | - |
| Investment in fixed assets (approximation) | - | - | -€13,700 | - |
| Change in cash | - | - | €4,953 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,153 companies had the same profile as Shift Logistics has now. Two years later, 1.7% had gone bankrupt and 96.1% were still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
The bankruptcy probability of Shift Logistics itself is higher: 4.3% within 12 months. It rests on far more data about Shift Logistics than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,153 companies, not a prediction for Shift Logistics. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerChain of control
- All-Time High
- Shift Logistics
Owners 1
- All-Time HighparentEquity €59,931 Profit of €1,582 in 2025 (profit of €496 in 2024) Checked score 66100%
Capital transactions
- ALL TIME HIGH (BE 0759.629.962) €37,500 · “schuldvordering onder vorm van rekening-courant”
- GABI (BE 0758.847.034) €112,500 · “schuldvordering onder vorm van rekening-courant”
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| All-Time High BV |
|
| CommV GABI |
|
Network & group
Companies at the same address
4 other companiesConnections & network
1 current directorThe network starts from the directors of Shift Logistics. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
04-02
Gazette deed
Algemene Vergadering - BoekjaarGeneral meeting1 point ▸
- General meeting, 02-02-2026
21-05
Gazette deed
Registered office moved within BruggeResignation: CommV GABI (director) · Permanent representative: Klaas Vogelaers · Director discharge7 points ▸
- General meeting, 28-04-2025
- Director resignation, CommV GABI (director (not named in the articles))
- Director discharge, CommV GABI
- Permanent representative, Klaas Vogelaers
- Registered-office move, Langestraat 10,8000 Brugge
- Board meeting, 14-04-2025
- Director resignation, CommV GABI (day-to-day manager)
05-03
Gazette deed
Company renamed from SHIFT INTERNATIONAL to SHIFT LOGISTICSAuditor report · Capital contribution6 points ▸
- General meeting, 29-02-2024
- Other provision, 29-02-2024
- Auditor report, EUR, “Norm inzake opdracht bedrijfsrevisor in kader van inbreng in natura en quasi-inbreng” (deed in Dutch)
- Capital contribution, €37,500, mentioned 2 times in the deed
- Capital contribution, €112,500, mentioned 2 times in the deed
- Name change, SHIFT LOGISTICS
28-12
Gazette deed
Amendment of the articlesGeneral meeting1 point ▸
- General meeting, 13-12-2023
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
On 8 September 2021, Shift Logistics was incorporated as a private limited company.1 The name was changed to SHIFT LOGISTICS in 2024.2 In 2025 the registered office moved to Brugge.3 All-Time High BV is director of the company according to the 2025 annual accounts.4 Total assets went from €156,405 in 2022 to €246,133 in 2025 and headcount from 0.1 to 2.2 full-time equivalents.5
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBRecognitions · licences · registrations
Food safety, FASFC
1 siteSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31807I0459/00S010 | Flanders | 1.5 ha | 1 · 8,203 m² | - |
| 31802B1036/00F000 | Flanders | 216 m² | 1 · 192 m² | 12.5 m · 3 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.