nShift: what changed
Two fiscal 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.
nShift
Largest movements
- Cash +€150,910
up €150,910 (+44.0%), from €342,648 to €493,558
mainly Trade debts (+€65,611) and Net result for the year (+€31,319)
- Receivables within one year -€25,928
down €25,928 (-25.7%), from €100,727 to €74,799
of which Trade receivables: -€23,604
- Trade debts +€65,611
up €65,611 (+67.7%), from €96,867 to €162,478
- Reserves +€31,319
up €31,319 (+28.5%), from €109,785 to €141,104
- Tax, wage and social debts +€14,267
up €14,267 (+42.4%), from €33,625 to €47,891
of which Taxes: +€21,713
- Accrued charges and deferred income +€9,476
up €9,476 (+4.8%), from €196,421 to €205,898
- Staff costs -€88,001
down €88,001 (-81.6%), from €107,894 to €19,892
- Gross operating margin -€64,297
down €64,297 (-48.1%), from €133,757 to €69,460
- Other operating charges -€9,595
down €9,595 (-94.9%), from €10,115 to €520
- Financial income -€8,939
down €8,939 (-96.3%), from €9,286 to €348
- Taxes +€6,131
up €6,131 (+69.7%), from €8,801 to €14,932
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.
Cash bridge derived
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 | €455,298 | €575,971 | +€120,673 | +26.5% |
| Fixed assets | 21/28 | €2,704 | €766 | -€1,939 | -71.7% |
| Tangible fixed assets | 22/27 | €748 | €439 | -€310 | -41.4% |
| Furniture and vehicles | 24 | €748 | €439 | -€310 | -41.4% |
| Financial fixed assets | 28 | €1,956 | €327 | -€1,629 | -83.3% |
| Current assets | 29/58 | €452,594 | €575,206 | +€122,612 | +27.1% |
| Amounts receivable within one year | 40/41 | €100,727 | €74,799 | -€25,928 | -25.7% |
| Trade receivables | 40 | €86,660 | €63,056 | -€23,604 | -27.2% |
| Other amounts receivable | 41 | €14,067 | €11,743 | -€2,324 | -16.5% |
| Cash at bank and in hand | 54/58 | €342,648 | €493,558 | +€150,910 | +44.0% |
| Deferred charges and accrued income | 490/1 | €9,219 | €6,849 | -€2,370 | -25.7% |
| Total equity and liabilities | 10/49 | €455,298 | €575,971 | +€120,673 | +26.5% |
| Equity | 10/15 | €128,385 | €159,704 | +€31,319 | +24.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,785 | €141,104 | +€31,319 | +28.5% |
| Distributable reserves | 133 | €109,785 | €141,104 | +€31,319 | +28.5% |
| Amounts payable | 17/49 | €326,913 | €416,267 | +€89,354 | +27.3% |
| Amounts payable within one year | 42/48 | €130,491 | €210,369 | +€79,878 | +61.2% |
| Trade debts | 44 | €96,867 | €162,478 | +€65,611 | +67.7% |
| Suppliers | 440/4 | €96,867 | €162,478 | +€65,611 | +67.7% |
| Taxes, remuneration and social security | 45 | €33,625 | €47,891 | +€14,267 | +42.4% |
| Taxes | 450/3 | €26,178 | €47,891 | +€21,713 | +82.9% |
| Remuneration and social security | 454/9 | €7,446 | - | -€7,446 | |
| Accrued charges and deferred income | 492/3 | €196,421 | €205,898 | +€9,476 | +4.8% |
| Remuneration, social security and pensions | 62 | €107,894 | €19,892 | -€88,001 | -81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €502 | €310 | -€192 | -38.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,987 | €1,884 | +€5,871 | |
| Other operating charges | 640/8 | €10,115 | €520 | -€9,595 | -94.9% |
| Gross operating margin | 9900 | €133,757 | €69,460 | -€64,297 | -48.1% |
| Operating profit (loss) | 9901 | €19,233 | €46,855 | +€27,621 | +143.6% |
| Financial income | 75/76B | €9,286 | €348 | -€8,939 | -96.3% |
| Recurring financial income | 75 | €9,286 | €348 | -€8,939 | -96.3% |
| Financial charges | 65/66B | €1,213 | €951 | -€262 | -21.6% |
| Recurring financial charges | 65 | €1,213 | €951 | -€262 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €27,306 | €46,251 | +€18,945 | +69.4% |
| Income taxes | 67/77 | €8,801 | €14,932 | +€6,131 | +69.7% |
| Profit (loss) for the period | 9904 | €18,505 | €31,319 | +€12,813 | +69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,505 | €31,319 | +€12,813 | +69.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.