SHIFT GEAR: 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.
SHIFT GEAR
Largest movements
- Receivables within one year +€51,055
up €51,055 (+1359.4%), from €3,756 to €54,811
of which Trade receivables: +€54,664
- Cash -€30,615
down €30,615 (-49.4%), from €62,006 to €31,391
mainly Receivables within one year (-€51,055) and Other debts (-€34,921)
- Deferred charges and accrued income -€13,024
down €13,024 (-64.7%), from €20,130 to €7,106
- Current investments +€9,717
up €9,717 (+9.0%), from €108,500 to €118,217
- Tangible fixed assets +€7,438
up €7,438 (+114.1%), from €6,516 to €13,954
of which Plant, machinery and equipment: +€7,563
- Reserves +€51,208
up €51,208 (+28.9%), from €177,337 to €228,545
- Other debts -€34,921
down €34,921 (-9.5%), from €368,562 to €333,641
- Tax, wage and social debts +€10,108
up €10,108 (+109.9%), from €9,199 to €19,307
- Gross operating margin -€24,354
down €24,354 (-17.1%), from €142,648 to €118,293
- Taxes -€20,916
down €20,916 (-32.1%), from €65,199 to €44,284
- Other operating charges +€9,423
up €9,423 (+354.9%), from €2,655 to €12,077
- Financial charges +€4,116
up €4,116 (+109.0%), from €3,778 to €7,895
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 | €585,850 | €610,421 | +€24,571 | +4.2% |
| Fixed assets | 21/28 | €391,459 | €398,897 | +€7,438 | +1.9% |
| Tangible fixed assets | 22/27 | €6,516 | €13,954 | +€7,438 | +114.1% |
| Plant, machinery and equipment | 23 | - | €7,563 | +€7,563 | |
| Furniture and vehicles | 24 | €6,516 | €3,942 | -€2,574 | -39.5% |
| Other tangible fixed assets | 26 | - | €2,450 | +€2,450 | |
| Financial fixed assets | 28 | €384,942 | €384,942 | = | 0.0% |
| Current assets | 29/58 | €194,391 | €211,524 | +€17,133 | +8.8% |
| Amounts receivable within one year | 40/41 | €3,756 | €54,811 | +€51,055 | +1359.4% |
| Trade receivables | 40 | €147 | €54,811 | +€54,664 | +37214.1% |
| Other amounts receivable | 41 | €3,609 | - | -€3,609 | |
| Current investments | 50/53 | €108,500 | €118,217 | +€9,717 | +9.0% |
| Cash at bank and in hand | 54/58 | €62,006 | €31,391 | -€30,615 | -49.4% |
| Deferred charges and accrued income | 490/1 | €20,130 | €7,106 | -€13,024 | -64.7% |
| Total equity and liabilities | 10/49 | €585,850 | €610,421 | +€24,571 | +4.2% |
| Equity | 10/15 | €195,937 | €247,145 | +€51,208 | +26.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €177,337 | €228,545 | +€51,208 | +28.9% |
| Distributable reserves | 133 | €177,337 | €228,545 | +€51,208 | +28.9% |
| Amounts payable | 17/49 | €389,913 | €363,275 | -€26,638 | -6.8% |
| Amounts payable within one year | 42/48 | €389,913 | €363,275 | -€26,638 | -6.8% |
| Trade debts | 44 | €12,151 | €10,327 | -€1,824 | -15.0% |
| Suppliers | 440/4 | €11,881 | €10,327 | -€1,554 | -13.1% |
| Bills of exchange payable | 441 | €270 | - | -€270 | |
| Taxes, remuneration and social security | 45 | €9,199 | €19,307 | +€10,108 | +109.9% |
| Taxes | 450/3 | €9,199 | €19,307 | +€10,108 | +109.9% |
| Other amounts payable | 47/48 | €368,562 | €333,641 | -€34,921 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,911 | €4,790 | +€879 | +22.5% |
| Other operating charges | 640/8 | €2,655 | €12,077 | +€9,423 | +354.9% |
| Gross operating margin | 9900 | €142,648 | €118,293 | -€24,354 | -17.1% |
| Operating profit (loss) | 9901 | €136,082 | €101,426 | -€34,656 | -25.5% |
| Financial income | 75/76B | €1,045 | €1,960 | +€916 | +87.7% |
| Recurring financial income | 75 | €1,045 | €1,960 | +€916 | +87.7% |
| Financial charges | 65/66B | €3,778 | €7,895 | +€4,116 | +109.0% |
| Recurring financial charges | 65 | €3,778 | €7,895 | +€4,116 | +109.0% |
| Profit (loss) for the period before taxes | 9903 | €133,349 | €95,492 | -€37,857 | -28.4% |
| Income taxes | 67/77 | €65,199 | €44,284 | -€20,916 | -32.1% |
| Profit (loss) for the period | 9904 | €68,149 | €51,208 | -€16,941 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,149 | €51,208 | -€16,941 | -24.9% |
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 2 October 2026 via checked.be.