Shiftⁿ: 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.
Shiftⁿ
Largest movements
- Receivables within one year -€40,823
down €40,823 (-31.0%), from €131,704 to €90,880
of which Trade receivables: -€33,077
- Cash +€11,910
up €11,910 (+113.0%), from €10,541 to €22,451
mainly Receivables within one year (+€40,823) and Net result for the year (+€14,289)
- Trade debts -€61,420
down €61,420 (-61.1%), from €100,500 to €39,081
- Reserves +€14,289
up €14,289 (+36.1%), from €39,532 to €53,821
- Tax, wage and social debts +€9,696
up €9,696 (+851.9%), from €1,138 to €10,834
- Current portion of long-term debt +€6,500
new in 2025: €6,500
- Other debts -€2,429
down €2,429 (-50.6%), from €4,801 to €2,372
- Gross operating margin +€42,343
up €42,343, from -€14,937 to €27,406
- Taxes +€1,467
up €1,467 (+1061.1%), from €138 to €1,606
- Depreciation -€1,193
down €1,193 (-31.7%), from €3,763 to €2,570
- Financial charges -€663
down €663 (-12.2%), from €5,444 to €4,781
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 | €152,272 | €119,122 | -€33,150 | -21.8% |
| Fixed assets | 21/28 | €9,560 | €5,724 | -€3,836 | -40.1% |
| Intangible fixed assets | 21 | €3,891 | €2,593 | -€1,298 | -33.4% |
| Tangible fixed assets | 22/27 | €4,253 | €2,981 | -€1,272 | -29.9% |
| Furniture and vehicles | 24 | €3,917 | €2,981 | -€936 | -23.9% |
| Other tangible fixed assets | 26 | €336 | - | -€336 | |
| Financial fixed assets | 28 | €1,416 | €150 | -€1,266 | -89.4% |
| Current assets | 29/58 | €142,712 | €113,398 | -€29,314 | -20.5% |
| Amounts receivable within one year | 40/41 | €131,704 | €90,880 | -€40,823 | -31.0% |
| Trade receivables | 40 | €111,959 | €78,882 | -€33,077 | -29.5% |
| Other amounts receivable | 41 | €19,745 | €11,999 | -€7,746 | -39.2% |
| Cash at bank and in hand | 54/58 | €10,541 | €22,451 | +€11,910 | +113.0% |
| Deferred charges and accrued income | 490/1 | €468 | €67 | -€401 | -85.7% |
| Total equity and liabilities | 10/49 | €152,272 | €119,122 | -€33,150 | -21.8% |
| Equity | 10/15 | €45,832 | €60,121 | +€14,289 | +31.2% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €39,532 | €53,821 | +€14,289 | +36.1% |
| Distributable reserves | 133 | €39,532 | €53,821 | +€14,289 | +36.1% |
| Amounts payable | 17/49 | €106,440 | €59,001 | -€47,439 | -44.6% |
| Amounts payable within one year | 42/48 | €106,440 | €58,787 | -€47,653 | -44.8% |
| Current portion of amounts payable after more than one year | 42 | - | €6,500 | +€6,500 | |
| Trade debts | 44 | €100,500 | €39,081 | -€61,420 | -61.1% |
| Suppliers | 440/4 | €100,500 | €39,081 | -€61,420 | -61.1% |
| Taxes, remuneration and social security | 45 | €1,138 | €10,834 | +€9,696 | +851.9% |
| Taxes | 450/3 | €1,138 | €10,834 | +€9,696 | +851.9% |
| Other amounts payable | 47/48 | €4,801 | €2,372 | -€2,429 | -50.6% |
| Accrued charges and deferred income | 492/3 | - | €214 | +€214 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,763 | €2,570 | -€1,193 | -31.7% |
| Other operating charges | 640/8 | €4,489 | €4,425 | -€64 | -1.4% |
| Gross operating margin | 9900 | -€14,937 | €27,406 | +€42,343 | |
| Operating profit (loss) | 9901 | -€23,189 | €20,410 | +€43,600 | |
| Financial income | 75/76B | €305 | €265 | -€40 | -13.2% |
| Recurring financial income | 75 | €305 | €265 | -€40 | -13.2% |
| Financial charges | 65/66B | €5,444 | €4,781 | -€663 | -12.2% |
| Recurring financial charges | 65 | €5,444 | €4,781 | -€663 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€28,328 | €15,894 | +€44,222 | |
| Income taxes | 67/77 | €138 | €1,606 | +€1,467 | +1061.1% |
| Profit (loss) for the period | 9904 | -€28,466 | €14,289 | +€42,755 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,466 | €14,289 | +€42,755 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.