O3 SHIFT RENT: 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.
O3 SHIFT RENT
Largest movements
- Tangible fixed assets -€236,076
down €236,076 (-33.8%), from €698,841 to €462,765
of which Plant, machinery and equipment: -€205,034
- Receivables within one year -€49,034
down €49,034 (-88.8%), from €55,223 to €6,190
- Cash +€32,657
up €32,657 (+123%), from €26,535 to €59,191
mainly Depreciation (+€178,147) and Investment in fixed assets (net) (+€63,715)
- Debts after one year -€143,877
down €143,877 (-66.4%), from €216,817 to €72,940
- Other debts -€71,400
down €71,400 (-51.4%), from €139,013 to €67,613
- Profit (loss) carried forward -€25,835
down €25,835 (-1.6%), from -€1.6m to -€1.7m
- Trade debts -€24,507
down €24,507 (-91.3%), from €26,855 to €2,348
- Gross operating margin +€59,906
up €59,906 (+46.9%), from €127,818 to €187,725
- Depreciation -€39,681
down €39,681 (-18.2%), from €217,828 to €178,147
- Financial charges -€3,731
down €3,731 (-36.8%), from €10,151 to €6,420
- Other operating charges -€3,328
down €3,328 (-44.0%), from €7,563 to €4,235
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 | €798,024 | €535,403 | -€262,621 | -32.9% |
| Fixed assets | 21/28 | €710,150 | €468,288 | -€241,862 | -34.1% |
| Intangible fixed assets | 21 | €11,309 | €5,523 | -€5,787 | -51.2% |
| Tangible fixed assets | 22/27 | €698,841 | €462,765 | -€236,076 | -33.8% |
| Plant, machinery and equipment | 23 | €389,417 | €184,383 | -€205,034 | -52.7% |
| Furniture and vehicles | 24 | €35,660 | €28,363 | -€7,298 | -20.5% |
| Other tangible fixed assets | 26 | €273,764 | €250,020 | -€23,744 | -8.7% |
| Current assets | 29/58 | €87,874 | €67,116 | -€20,758 | -23.6% |
| Amounts receivable within one year | 40/41 | €55,223 | €6,190 | -€49,034 | -88.8% |
| Trade receivables | 40 | €55,223 | €6,190 | -€49,034 | -88.8% |
| Cash at bank and in hand | 54/58 | €26,535 | €59,191 | +€32,657 | +123% |
| Deferred charges and accrued income | 490/1 | €6,116 | €1,735 | -€4,382 | -71.6% |
| Total equity and liabilities | 10/49 | €798,024 | €535,403 | -€262,621 | -32.9% |
| Equity | 10/15 | €261,018 | €235,183 | -€25,835 | -9.9% |
| Contributions | 10/11 | €1,900,000 | €1,900,000 | = | 0.0% |
| Capital | 10 | €1,900,000 | €1,900,000 | = | 0.0% |
| Issued capital | 100 | €1,900,000 | €1,900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,638,982 | -€1,664,817 | -€25,835 | -1.6% |
| Amounts payable | 17/49 | €537,006 | €300,220 | -€236,786 | -44.1% |
| Amounts payable after more than one year | 17 | €216,817 | €72,940 | -€143,877 | -66.4% |
| Financial debts | 170/4 | €216,817 | €72,940 | -€143,877 | -66.4% |
| Amounts payable within one year | 42/48 | €311,620 | €223,709 | -€87,911 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €141,249 | €143,877 | +€2,629 | +1.9% |
| Trade debts | 44 | €26,855 | €2,348 | -€24,507 | -91.3% |
| Suppliers | 440/4 | €26,855 | €2,348 | -€24,507 | -91.3% |
| Taxes, remuneration and social security | 45 | €4,503 | €9,871 | +€5,368 | +119% |
| Taxes | 450/3 | €4,503 | €9,871 | +€5,368 | +119% |
| Other amounts payable | 47/48 | €139,013 | €67,613 | -€71,400 | -51.4% |
| Accrued charges and deferred income | 492/3 | €8,569 | €3,571 | -€4,998 | -58.3% |
| Non-recurring operating income | 76A | €2,376 | €124,374 | +€121,997 | +5,134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217,828 | €178,147 | -€39,681 | -18.2% |
| Other operating charges | 640/8 | €7,563 | €4,235 | -€3,328 | -44.0% |
| Non-recurring operating charges | 66A | €41,788 | €24,756 | -€17,032 | -40.8% |
| Gross operating margin | 9900 | €127,818 | €187,725 | +€59,906 | +46.9% |
| Operating profit (loss) | 9901 | -€139,361 | -€19,414 | +€119,946 | +86.1% |
| Financial charges | 65/66B | €10,151 | €6,420 | -€3,731 | -36.8% |
| Recurring financial charges | 65 | €10,151 | €6,420 | -€3,731 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | -€149,512 | -€25,835 | +€123,677 | +82.7% |
| Profit (loss) for the period | 9904 | -€149,512 | -€25,835 | +€123,677 | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,512 | -€25,835 | +€123,677 | +82.7% |
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 20 October 2026 via checked.be.