SHIFTR: 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.
SHIFTR
Largest movements
- Stocks and contracts +€12,249
up €12,249 (+237.0%), from €5,167 to €17,417
- Cash +€6,936
up €6,936 (+69.9%), from €9,930 to €16,865
mainly Net result for the year (+€14,201) and Tax, wage and social debts (+€6,476)
- Deferred charges and accrued income +€4,709
new in 2025: €4,709
- Receivables within one year -€4,392
down €4,392 (-30.5%), from €14,410 to €10,019
of which Trade receivables: -€4,477
- Tangible fixed assets -€610
down €610 (-8.1%), from €7,550 to €6,940
of which Plant, machinery and equipment: -€387
- Reserves +€13,368
new in 2025: €13,368
- Tax, wage and social debts +€6,476
up €6,476 (+86.3%), from €7,507 to €13,983
- Debts after one year -€5,391
down €5,391 (-27.2%), from €19,782 to €14,392
- Trade debts +€3,403
up €3,403 (+2928.4%), from €116 to €3,520
- Other debts +€837
up €837 (+835.2%), from €100 to €938
- Gross operating margin +€22,147
up €22,147 (+267.0%), from €8,296 to €30,443
- Taxes +€5,802
up €5,802 (+777.8%), from €746 to €6,548
- Financial charges +€1,361
up €1,361 (+44.6%), from €3,049 to €4,410
- Staff costs +€1,173
up €1,173 (+55.9%), from €2,098 to €3,271
- Depreciation +€811
up €811 (+76.8%), from €1,055 to €1,866
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 | €37,057 | €55,949 | +€18,892 | +51.0% |
| Fixed assets | 21/28 | €7,550 | €6,940 | -€610 | -8.1% |
| Tangible fixed assets | 22/27 | €7,550 | €6,940 | -€610 | -8.1% |
| Plant, machinery and equipment | 23 | €5,335 | €4,948 | -€387 | -7.3% |
| Other tangible fixed assets | 26 | €2,215 | €1,992 | -€223 | -10.1% |
| Current assets | 29/58 | €29,507 | €49,009 | +€19,502 | +66.1% |
| Stocks and contracts in progress | 3 | €5,167 | €17,417 | +€12,249 | +237.0% |
| Stocks | 30/36 | €5,167 | €17,417 | +€12,249 | +237.0% |
| Amounts receivable within one year | 40/41 | €14,410 | €10,019 | -€4,392 | -30.5% |
| Trade receivables | 40 | €14,410 | €9,934 | -€4,477 | -31.1% |
| Other amounts receivable | 41 | - | €85 | +€85 | |
| Cash at bank and in hand | 54/58 | €9,930 | €16,865 | +€6,936 | +69.9% |
| Deferred charges and accrued income | 490/1 | - | €4,709 | +€4,709 | |
| Total equity and liabilities | 10/49 | €37,057 | €55,949 | +€18,892 | +51.0% |
| Equity | 10/15 | €4,358 | €17,726 | +€13,368 | +306.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | - | €13,368 | +€13,368 | |
| Distributable reserves | 133 | - | €13,368 | +€13,368 | |
| Profit (loss) carried forward | 14 | €858 | €858 | = | 0.0% |
| Amounts payable | 17/49 | €32,699 | €38,223 | +€5,524 | +16.9% |
| Amounts payable after more than one year | 17 | €19,782 | €14,392 | -€5,391 | -27.2% |
| Other amounts payable | 178/9 | €19,782 | €14,392 | -€5,391 | -27.2% |
| Amounts payable within one year | 42/48 | €12,917 | €23,831 | +€10,914 | +84.5% |
| Financial debts | 43 | €5,193 | €5,391 | +€198 | +3.8% |
| Other loans | 439 | €5,193 | €5,391 | +€198 | +3.8% |
| Trade debts | 44 | €116 | €3,520 | +€3,403 | +2928.4% |
| Suppliers | 440/4 | €116 | €3,520 | +€3,403 | +2928.4% |
| Taxes, remuneration and social security | 45 | €7,507 | €13,983 | +€6,476 | +86.3% |
| Taxes | 450/3 | €7,507 | €13,983 | +€6,476 | +86.3% |
| Other amounts payable | 47/48 | €100 | €938 | +€837 | +835.2% |
| Remuneration, social security and pensions | 62 | €2,098 | €3,271 | +€1,173 | +55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,055 | €1,866 | +€811 | +76.8% |
| Other operating charges | 640/8 | €490 | €147 | -€342 | -69.9% |
| Gross operating margin | 9900 | €8,296 | €30,443 | +€22,147 | +267.0% |
| Operating profit (loss) | 9901 | €4,653 | €25,158 | +€20,505 | +440.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,049 | €4,410 | +€1,361 | +44.6% |
| Recurring financial charges | 65 | €3,049 | €4,410 | +€1,361 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €1,604 | €20,749 | +€19,145 | +1193.5% |
| Income taxes | 67/77 | €746 | €6,548 | +€5,802 | +777.8% |
| Profit (loss) for the period | 9904 | €858 | €14,201 | +€13,343 | +1554.7% |
| Profit (loss) for the period to be appropriated | 9905 | €858 | €14,201 | +€13,343 | +1554.7% |
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 11 October 2026 via checked.be.