SHIFTED: 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.
SHIFTED
Largest movements
- Tangible fixed assets -€10,425
down €10,425 (-29.4%), from €35,435 to €25,009
of which Furniture and vehicles: -€10,190
- Current investments -€10,000
down €10,000 (-50.0%), from €20,000 to €10,000
- Cash +€5,310
up €5,310 (+14.1%), from €37,570 to €42,880
mainly Net result for the year (+€43,333) and Depreciation (+€10,425)
- Other debts -€19,705
down €19,705 (-24.0%), from €82,051 to €62,346
- Debts after one year +€9,769
new in 2025: €9,769
- Profit (loss) carried forward -€8,667
down €8,667 (-81.9%), from €10,579 to €1,911
- Tax, wage and social debts +€2,624
up €2,624 (+15.8%), from €16,646 to €19,270
- Gross operating margin +€26,283
up €26,283 (+65.9%), from €39,898 to €66,181
- Taxes +€4,357
up €4,357 (+62.3%), from €6,995 to €11,352
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 | €109,920 | €94,034 | -€15,886 | -14.5% |
| Fixed assets | 21/28 | €35,435 | €25,009 | -€10,425 | -29.4% |
| Tangible fixed assets | 22/27 | €35,435 | €25,009 | -€10,425 | -29.4% |
| Furniture and vehicles | 24 | €33,402 | €23,211 | -€10,190 | -30.5% |
| Other tangible fixed assets | 26 | €2,033 | €1,798 | -€235 | -11.6% |
| Current assets | 29/58 | €74,486 | €69,025 | -€5,461 | -7.3% |
| Amounts receivable within one year | 40/41 | €15,404 | €14,539 | -€865 | -5.6% |
| Trade receivables | 40 | €12,378 | €14,539 | +€2,161 | +17.5% |
| Other amounts receivable | 41 | €3,026 | - | -€3,026 | |
| Current investments | 50/53 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €37,570 | €42,880 | +€5,310 | +14.1% |
| Deferred charges and accrued income | 490/1 | €1,511 | €1,605 | +€94 | +6.2% |
| Total equity and liabilities | 10/49 | €109,920 | €94,034 | -€15,886 | -14.5% |
| Equity | 10/15 | €11,079 | €2,411 | -€8,667 | -78.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,579 | €1,911 | -€8,667 | -81.9% |
| Amounts payable | 17/49 | €98,842 | €91,623 | -€7,219 | -7.3% |
| Amounts payable after more than one year | 17 | - | €9,769 | +€9,769 | |
| Other amounts payable | 178/9 | - | €9,769 | +€9,769 | |
| Amounts payable within one year | 42/48 | €98,842 | €81,854 | -€16,988 | -17.2% |
| Trade debts | 44 | €145 | €238 | +€93 | +64.0% |
| Suppliers | 440/4 | €145 | €238 | +€93 | +64.0% |
| Taxes, remuneration and social security | 45 | €16,646 | €19,270 | +€2,624 | +15.8% |
| Taxes | 450/3 | €16,646 | €19,270 | +€2,624 | +15.8% |
| Other amounts payable | 47/48 | €82,051 | €62,346 | -€19,705 | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,094 | €10,425 | +€331 | +3.3% |
| Other operating charges | 640/8 | €491 | €902 | +€411 | +83.7% |
| Gross operating margin | 9900 | €39,898 | €66,181 | +€26,283 | +65.9% |
| Operating profit (loss) | 9901 | €29,314 | €54,854 | +€25,540 | +87.1% |
| Financial income | 75/76B | €146 | €471 | +€325 | +222.9% |
| Recurring financial income | 75 | €146 | €471 | +€325 | +222.9% |
| Financial charges | 65/66B | €410 | €640 | +€230 | +56.2% |
| Recurring financial charges | 65 | €410 | €640 | +€230 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €29,050 | €54,685 | +€25,635 | +88.2% |
| Income taxes | 67/77 | €6,995 | €11,352 | +€4,357 | +62.3% |
| Profit (loss) for the period | 9904 | €22,055 | €43,333 | +€21,278 | +96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,055 | €43,333 | +€21,278 | +96.5% |
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 4 October 2026 via checked.be.