Coshift: 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.
Coshift
Largest movements
- Tangible fixed assets +€535,335
up €535,335 (+88.5%), from €605,176 to €1.1m
of which Land and buildings: +€539,925
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Cash +€46,522
up €46,522 (+152%), from €30,589 to €77,111
mainly Debts after one year (+€302,722) and Current investments (+€200,000)
- Debts after one year +€302,722
up €302,722 (+85.7%), from €353,031 to €655,752
of which Financial debts: +€202,722
- Reserves +€48,502
up €48,502 (+20.7%), from €234,287 to €282,789
of which Distributable reserves: +€48,502
- Accrued charges and deferred income +€14,050
up €14,050 (+519%), from €2,708 to €16,757
- Current portion of long-term debt +€14,026
up €14,026 (+45.9%), from €30,587 to €44,612
- Financial charges +€19,275
up €19,275 (+208%), from €9,254 to €28,529
- Depreciation +€12,065
up €12,065 (+45.0%), from €26,807 to €38,872
- Taxes -€9,990
down €9,990 (-32.6%), from €30,620 to €20,630
- Gross operating margin +€8,126
up €8,126 (+6.2%), from €131,528 to €139,653
- Other operating charges +€1,532
up €1,532 (+54.7%), from €2,803 to €4,335
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 | €864,375 | €1,245,921 | +€381,545 | +44.1% |
| Fixed assets | 21/28 | €605,176 | €1,140,511 | +€535,335 | +88.5% |
| Tangible fixed assets | 22/27 | €605,176 | €1,140,511 | +€535,335 | +88.5% |
| Land and buildings | 22 | €585,186 | €1,125,111 | +€539,925 | +92.3% |
| Plant, machinery and equipment | 23 | €3,662 | €3,690 | +€28 | +0.8% |
| Furniture and vehicles | 24 | €16,328 | €11,710 | -€4,618 | -28.3% |
| Current assets | 29/58 | €259,199 | €105,409 | -€153,790 | -59.3% |
| Amounts receivable within one year | 40/41 | €26,361 | €25,655 | -€706 | -2.7% |
| Trade receivables | 40 | €20,571 | €10,266 | -€10,305 | -50.1% |
| Other amounts receivable | 41 | €5,790 | €15,390 | +€9,599 | +166% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €30,589 | €77,111 | +€46,522 | +152% |
| Deferred charges and accrued income | 490/1 | €2,249 | €2,643 | +€394 | +17.5% |
| Total equity and liabilities | 10/49 | €864,375 | €1,245,921 | +€381,545 | +44.1% |
| Equity | 10/15 | €253,287 | €301,789 | +€48,502 | +19.1% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €234,287 | €282,789 | +€48,502 | +20.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €234,287 | €282,789 | +€48,502 | +20.7% |
| Amounts payable | 17/49 | €611,089 | €944,132 | +€333,043 | +54.5% |
| Amounts payable after more than one year | 17 | €353,031 | €655,752 | +€302,722 | +85.7% |
| Financial debts | 170/4 | €353,031 | €555,752 | +€202,722 | +57.4% |
| Other amounts payable | 178/9 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €255,350 | €271,622 | +€16,272 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €30,587 | €44,612 | +€14,026 | +45.9% |
| Financial debts | 43 | - | €27 | +€27 | |
| Credit institutions | 430/8 | - | €27 | +€27 | |
| Trade debts | 44 | €1,172 | €2,841 | +€1,668 | +142% |
| Suppliers | 440/4 | €1,172 | €2,841 | +€1,668 | +142% |
| Advances received on contracts in progress | 46 | - | €4,200 | +€4,200 | |
| Taxes, remuneration and social security | 45 | €23,591 | €19,942 | -€3,649 | -15.5% |
| Taxes | 450/3 | €20,602 | €16,930 | -€3,671 | -17.8% |
| Remuneration and social security | 454/9 | €2,989 | €3,012 | +€22 | +0.7% |
| Other amounts payable | 47/48 | €200,000 | €200,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,708 | €16,757 | +€14,050 | +519% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,807 | €38,872 | +€12,065 | +45.0% |
| Other operating charges | 640/8 | €2,803 | €4,335 | +€1,532 | +54.7% |
| Gross operating margin | 9900 | €131,528 | €139,653 | +€8,126 | +6.2% |
| Operating profit (loss) | 9901 | €101,918 | €96,446 | -€5,472 | -5.4% |
| Financial income | 75/76B | €561 | €1,215 | +€654 | +117% |
| Recurring financial income | 75 | €561 | €1,215 | +€654 | +117% |
| Financial charges | 65/66B | €9,254 | €28,529 | +€19,275 | +208% |
| Recurring financial charges | 65 | €9,254 | €28,529 | +€19,275 | +208% |
| Profit (loss) for the period before taxes | 9903 | €93,225 | €69,132 | -€24,093 | -25.8% |
| Income taxes | 67/77 | €30,620 | €20,630 | -€9,990 | -32.6% |
| Profit (loss) for the period | 9904 | €62,605 | €48,502 | -€14,103 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,605 | €48,502 | -€14,103 | -22.5% |
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.