SHIFT NETWORKS: 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 NETWORKS
Largest movements
- Tangible fixed assets +€7,935
up €7,935 (+90.2%), from €8,794 to €16,729
of which Furniture and vehicles: +€10,888
- Deferred charges and accrued income -€6,370
down €6,370 (-94.6%), from €6,734 to €364
- Cash +€5,565
up €5,565 (+6.9%), from €80,436 to €86,001
mainly Net result for the year (+€21,685) and Deferred charges and accrued income (+€6,370)
- Reserves +€11,430
up €11,430 (+13.5%), from €84,370 to €95,800
- Accrued charges and deferred income -€4,688
down €4,688 (-35.0%), from €13,391 to €8,703
- Trade debts -€1,523
down €1,523 (-29.0%), from €5,255 to €3,732
- Turnover +€18,839
up €18,839 (+17.7%), from €106,450 to €125,289
- Gross operating margin +€9,704
up €9,704 (+37.0%), from €26,256 to €35,960
- Purchases and services +€6,772
up €6,772 (+6.9%), from €98,527 to €105,299
- Taxes +€2,401
up €2,401 (+37.5%), from €6,409 to €8,810
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 | €136,660 | €143,438 | +€6,778 | +5.0% |
| Fixed assets | 21/28 | €9,250 | €17,185 | +€7,935 | +85.8% |
| Tangible fixed assets | 22/27 | €8,794 | €16,729 | +€7,935 | +90.2% |
| Plant, machinery and equipment | 23 | €6,664 | €3,711 | -€2,953 | -44.3% |
| Furniture and vehicles | 24 | €2,130 | €13,018 | +€10,888 | +511.2% |
| Financial fixed assets | 28 | €456 | €456 | = | 0.0% |
| Current assets | 29/58 | €127,410 | €126,253 | -€1,157 | -0.9% |
| Amounts receivable within one year | 40/41 | €40,240 | €39,888 | -€352 | -0.9% |
| Trade receivables | 40 | €3,488 | €2,751 | -€737 | -21.1% |
| Other amounts receivable | 41 | €36,752 | €37,137 | +€385 | +1.0% |
| Cash at bank and in hand | 54/58 | €80,436 | €86,001 | +€5,565 | +6.9% |
| Deferred charges and accrued income | 490/1 | €6,734 | €364 | -€6,370 | -94.6% |
| Total equity and liabilities | 10/49 | €136,660 | €143,438 | +€6,778 | +5.0% |
| Equity | 10/15 | €103,068 | €114,503 | +€11,435 | +11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,370 | €95,800 | +€11,430 | +13.5% |
| Distributable reserves | 133 | €84,370 | €95,800 | +€11,430 | +13.5% |
| Profit (loss) carried forward | 14 | €98 | €103 | +€5 | +5.1% |
| Amounts payable | 17/49 | €33,592 | €28,935 | -€4,657 | -13.9% |
| Amounts payable within one year | 42/48 | €20,201 | €20,232 | +€31 | +0.2% |
| Trade debts | 44 | €5,255 | €3,732 | -€1,523 | -29.0% |
| Suppliers | 440/4 | €5,255 | €3,732 | -€1,523 | -29.0% |
| Taxes, remuneration and social security | 45 | €5,847 | €6,250 | +€403 | +6.9% |
| Taxes | 450/3 | €5,847 | €6,250 | +€403 | +6.9% |
| Other amounts payable | 47/48 | €9,099 | €10,250 | +€1,151 | +12.6% |
| Accrued charges and deferred income | 492/3 | €13,391 | €8,703 | -€4,688 | -35.0% |
| Turnover | 70 | €106,450 | €125,289 | +€18,839 | +17.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €98,527 | €105,299 | +€6,772 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,321 | €4,225 | -€96 | -2.2% |
| Other operating charges | 640/8 | €505 | €520 | +€15 | +3.0% |
| Gross operating margin | 9900 | €26,256 | €35,960 | +€9,704 | +37.0% |
| Operating profit (loss) | 9901 | €21,430 | €31,215 | +€9,785 | +45.7% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €701 | €720 | +€19 | +2.7% |
| Recurring financial charges | 65 | €701 | €720 | +€19 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €20,750 | €30,495 | +€9,745 | +47.0% |
| Income taxes | 67/77 | €6,409 | €8,810 | +€2,401 | +37.5% |
| Profit (loss) for the period | 9904 | €14,341 | €21,685 | +€7,344 | +51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,341 | €21,685 | +€7,344 | +51.2% |
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 29 September 2026 via checked.be.