SHIFT: 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.
SHIFT
Largest movements
- Cash -€14,543
down €14,543 (-72.3%), from €20,126 to €5,583
mainly Other debts (-€22,450) and Net result for the year (-€7,468)
- Receivables within one year -€12,201
down €12,201 (-40.3%), from €30,261 to €18,059
of which Trade receivables: -€15,776
- Tangible fixed assets -€7,223
down €7,223 (-35.5%), from €20,357 to €13,134
- Other debts -€22,450
no longer reported in 2025 (was €22,450)
- Profit (loss) carried forward -€7,468
down €7,468 (-48.6%), from €15,377 to €7,909
- Current portion of long-term debt -€4,770
down €4,770 (-91.5%), from €5,215 to €446
- Trade debts +€836
up €836 (+16.2%), from €5,155 to €5,990
- Taxes +€1,050
new in 2025: €1,050
- Gross operating margin -€536
down €536 (-38.5%), from €1,391 to €855
- Financial income +€365
up €365 (+103%), from €356 to €721
- Financial charges -€256
down €256 (-77.0%), from €332 to €76
- Depreciation -€236
down €236 (-3.2%), from €7,459 to €7,223
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 | €73,243 | €39,276 | -€33,967 | -46.4% |
| Fixed assets | 21/28 | €22,857 | €15,634 | -€7,223 | -31.6% |
| Tangible fixed assets | 22/27 | €20,357 | €13,134 | -€7,223 | -35.5% |
| Furniture and vehicles | 24 | €20,357 | €13,134 | -€7,223 | -35.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €50,387 | €23,642 | -€26,744 | -53.1% |
| Amounts receivable within one year | 40/41 | €30,261 | €18,059 | -€12,201 | -40.3% |
| Trade receivables | 40 | €17,591 | €1,815 | -€15,776 | -89.7% |
| Other amounts receivable | 41 | €12,670 | €16,244 | +€3,574 | +28.2% |
| Cash at bank and in hand | 54/58 | €20,126 | €5,583 | -€14,543 | -72.3% |
| Total equity and liabilities | 10/49 | €73,243 | €39,276 | -€33,967 | -46.4% |
| Equity | 10/15 | €38,508 | €31,040 | -€7,468 | -19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,531 | €4,531 | = | 0.0% |
| Distributable reserves | 133 | €4,531 | €4,531 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,377 | €7,909 | -€7,468 | -48.6% |
| Amounts payable | 17/49 | €34,736 | €8,236 | -€26,499 | -76.3% |
| Amounts payable after more than one year | 17 | €446 | - | -€446 | |
| Financial debts | 170/4 | €446 | - | -€446 | |
| Amounts payable within one year | 42/48 | €34,290 | €8,236 | -€26,054 | -76.0% |
| Current portion of amounts payable after more than one year | 42 | €5,215 | €446 | -€4,770 | -91.5% |
| Trade debts | 44 | €5,155 | €5,990 | +€836 | +16.2% |
| Suppliers | 440/4 | €5,155 | €5,990 | +€836 | +16.2% |
| Taxes, remuneration and social security | 45 | €1,470 | €1,800 | +€330 | +22.5% |
| Taxes | 450/3 | €1,470 | €1,800 | +€330 | +22.5% |
| Other amounts payable | 47/48 | €22,450 | - | -€22,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,459 | €7,223 | -€236 | -3.2% |
| Other operating charges | 640/8 | €673 | €695 | +€22 | +3.3% |
| Gross operating margin | 9900 | €1,391 | €855 | -€536 | -38.5% |
| Operating profit (loss) | 9901 | -€6,741 | -€7,062 | -€321 | -4.8% |
| Financial income | 75/76B | €356 | €721 | +€365 | +103% |
| Recurring financial income | 75 | €356 | €721 | +€365 | +103% |
| Financial charges | 65/66B | €332 | €76 | -€256 | -77.0% |
| Recurring financial charges | 65 | €332 | €76 | -€256 | -77.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,717 | -€6,418 | +€299 | +4.5% |
| Income taxes | 67/77 | - | €1,050 | +€1,050 | |
| Profit (loss) for the period | 9904 | -€6,717 | -€7,468 | -€750 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,717 | -€7,468 | -€750 | -11.2% |
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 15 October 2026 via checked.be.