CHIFT: 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.
CHIFT
Largest movements
- Intangible fixed assets +€1.1m
up €1.1m (+25,836%), from €4,256 to €1.1m
- Receivables within one year +€398,933
up €398,933 (+481%), from €82,943 to €481,876
of which Trade receivables: +€357,982
- Cash -€266,200
down €266,200 (-14.8%), from €1.8m to €1.5m
mainly Investment in fixed assets (net) (-€1.3m) and Receivables within one year (-€398,933)
- Profit (loss) carried forward +€342,172
up €342,172 (+36.9%), from -€927,682 to -€585,509
- Accrued charges and deferred income +€307,842
up €307,842 (+248%), from €124,096 to €431,938
- Investment grants +€193,706
new in 2025: €193,706
- Current portion of long-term debt +€173,723
new in 2025: €173,723
- Trade debts +€88,469
up €88,469 (+553%), from €16,011 to €104,480
- Gross operating margin +€1.8m
up €1.8m, from -€259,564 to €1.6m
- Staff costs +€670,319
up €670,319 (+158%), from €423,676 to €1.1m
- Depreciation +€135,498
up €135,498 (+1,893%), from €7,159 to €142,658
- Financial income +€41,360
up €41,360 (+1,618%), from €2,556 to €43,915
- Financial charges -€20,594
down €20,594 (-51.1%), from €40,265 to €19,672
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.
Derived cash bridge
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 | €1,908,782 | €3,167,274 | +€1.3m | +65.9% |
| Fixed assets | 21/28 | €27,289 | €1,136,881 | +€1.1m | +4,066% |
| Intangible fixed assets | 21 | €4,256 | €1,103,817 | +€1.1m | +25,836% |
| Tangible fixed assets | 22/27 | €23,033 | €28,064 | +€5,031 | +21.8% |
| Furniture and vehicles | 24 | €23,033 | €28,064 | +€5,031 | +21.8% |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €1,881,493 | €2,030,393 | +€148,900 | +7.9% |
| Amounts receivable within one year | 40/41 | €82,943 | €481,876 | +€398,933 | +481% |
| Trade receivables | 40 | €67,526 | €425,509 | +€357,982 | +530% |
| Other amounts receivable | 41 | €15,417 | €56,367 | +€40,951 | +266% |
| Cash at bank and in hand | 54/58 | €1,795,770 | €1,529,570 | -€266,200 | -14.8% |
| Deferred charges and accrued income | 490/1 | €2,780 | €18,947 | +€16,167 | +582% |
| Total equity and liabilities | 10/49 | €1,908,782 | €3,167,274 | +€1.3m | +65.9% |
| Equity | 10/15 | €1,397,079 | €1,932,957 | +€535,878 | +38.4% |
| Contributions | 10/11 | €2,324,760 | €2,324,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€927,682 | -€585,509 | +€342,172 | +36.9% |
| Investment grants | 15 | - | €193,706 | +€193,706 | |
| Amounts payable | 17/49 | €511,703 | €1,234,317 | +€722,614 | +141% |
| Amounts payable after more than one year | 17 | €236,682 | €316,423 | +€79,741 | +33.7% |
| Financial debts | 170/4 | €236,682 | €316,423 | +€79,741 | +33.7% |
| Amounts payable within one year | 42/48 | €150,926 | €485,956 | +€335,031 | +222% |
| Current portion of amounts payable after more than one year | 42 | - | €173,723 | +€173,723 | |
| Trade debts | 44 | €16,011 | €104,480 | +€88,469 | +553% |
| Suppliers | 440/4 | €16,011 | €104,480 | +€88,469 | +553% |
| Taxes, remuneration and social security | 45 | €131,696 | €204,152 | +€72,456 | +55.0% |
| Taxes | 450/3 | €37,960 | €16,473 | -€21,486 | -56.6% |
| Remuneration and social security | 454/9 | €93,737 | €187,679 | +€93,942 | +100% |
| Other amounts payable | 47/48 | €3,219 | €3,601 | +€383 | +11.9% |
| Accrued charges and deferred income | 492/3 | €124,096 | €431,938 | +€307,842 | +248% |
| Non-recurring operating income | 76A | - | €5,396 | +€5,396 | |
| Remuneration, social security and pensions | 62 | €423,676 | €1,093,994 | +€670,319 | +158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,159 | €142,658 | +€135,498 | +1,893% |
| Other operating charges | 640/8 | €4,807 | €1,693 | -€3,115 | -64.8% |
| Gross operating margin | 9900 | -€259,564 | €1,556,273 | +€1.8m | |
| Operating profit (loss) | 9901 | -€695,206 | €317,929 | +€1.0m | |
| Financial income | 75/76B | €2,556 | €43,915 | +€41,360 | +1,618% |
| Recurring financial income | 75 | €2,556 | €43,915 | +€41,360 | +1,618% |
| Financial charges | 65/66B | €40,265 | €19,672 | -€20,594 | -51.1% |
| Recurring financial charges | 65 | €40,265 | €19,672 | -€20,594 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | -€732,916 | €342,172 | +€1.1m | |
| Income taxes | 67/77 | €21 | €0 | -€21 | -100% |
| Profit (loss) for the period | 9904 | -€732,937 | €342,172 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€732,937 | €342,172 | +€1.1m |
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 28 October 2026 via checked.be.