SW-PROJECTS
Annual accounts 2025
abbreviated format, filed on 04-08-2026, 4 days lateTurnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €290,000. Estimated: probably between €170,000 and €710,000.
Balance sheet
balance sheet total €143,260 on 31-12-2025in euro
in euro
Position in the sector
32.9%
Higher than 36% of 9,273 companies in 2025.
1.45
Higher than 40% of 9,196 companies in 2025.
7.7%
Higher than 60% of 9,241 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
143,260 | 118,800 | 80,236 | 57,341 | 48,755 | 37,572 | 33,702 | 36,080 | 36,267 | 27,826 | |
21/28 |
3,937 | 6,905 | 7,281 | 872 | 362 | 549 | 161 | 3,532 | 5,878 | 8,085 | |
22/27 |
3,937 | 6,905 | 7,281 | 872 | 362 | 549 | 161 | 3,532 | 5,878 | 8,085 | |
23 |
1,483 | 1,017 | 1,771 | 872 | 362 | 549 | 161 | 184 | 299 | 275 | |
24 |
2,454 | 5,888 | 5,510 | - | - | - | - | 3,347 | 5,579 | 7,810 | |
29/58 |
139,322 | 111,895 | 72,954 | 56,468 | 48,393 | 37,023 | 33,540 | 32,549 | 30,389 | 19,741 | |
3 |
- | - | - | - | - | - | - | - | 5,036 | 4,610 | |
30/36 |
- | - | - | - | - | - | - | - | 426 | - | |
37 |
- | - | - | - | - | - | - | - | 4,610 | 4,610 | |
40/41 |
123,526 | 98,603 | 61,189 | 37,282 | 34,591 | 29,108 | 26,004 | 27,287 | 23,627 | 14,719 | |
40 |
66,492 | 57,054 | 29,724 | 15,639 | 21,786 | 17,037 | 11,757 | 13,178 | 13,174 | 10,063 | |
41 |
57,034 | 41,549 | 31,465 | 21,644 | 12,805 | 12,071 | 14,247 | 14,110 | 10,453 | 4,655 | |
54/58 |
13,948 | 12,723 | 11,476 | 17,975 | 12,305 | 7,915 | 7,536 | 5,261 | 1,727 | 412 | |
490/1 |
1,848 | 569 | 289 | 1,211 | 1,498 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
143,260 | 118,800 | 80,236 | 57,341 | 48,755 | 37,572 | 33,702 | 36,080 | 36,267 | 27,826 | |
10/15 |
47,137 | 36,085 | 33,034 | 20,886 | 10,648 | 6,156 | 15,273 | 16,612 | 14,992 | 12,971 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
385 | 385 | 385 | 385 | 385 | 385 | 385 | 385 | 285 | 35 | |
130/1 |
- | - | 385 | 385 | 385 | 385 | - | - | - | - | |
130 |
- | - | - | - | - | - | 385 | 385 | 285 | 35 | |
1311 |
- | - | 385 | 385 | 385 | 385 | - | - | - | - | |
133 |
385 | 385 | - | - | - | - | - | - | - | - | |
14 |
34,352 | 23,300 | 20,249 | 8,101 | -2,137 | -6,629 | 2,488 | 3,827 | 2,307 | 536 | |
17/49 |
96,123 | 82,715 | 47,202 | 36,455 | 38,107 | 31,416 | 18,429 | 19,468 | 21,275 | 14,855 | |
17 |
- | - | - | - | 2,023 | 5,402 | 322 | - | 1,967 | 4,019 | |
170/4 |
- | - | - | - | 2,023 | 5,402 | 322 | - | 1,967 | 4,019 | |
42/48 |
96,123 | 82,715 | 47,202 | 36,455 | 36,084 | 26,014 | 18,107 | 19,468 | 19,308 | 10,836 | |
42 |
- | - | - | 2,023 | 3,378 | 3,590 | 958 | 1,967 | 2,052 | 1,959 | |
44 |
50,584 | 38,476 | 20,318 | 8,005 | 9,490 | 17,633 | 15,979 | 16,074 | 16,182 | 7,047 | |
440/4 |
50,584 | 38,476 | 20,318 | 8,005 | 9,490 | 17,633 | 15,979 | 16,074 | 16,182 | 7,047 | |
46 |
39,994 | 38,991 | 23,043 | 23,043 | 23,043 | 3,500 | - | - | - | - | |
45 |
5,545 | 5,248 | 3,841 | 3,384 | 172 | 601 | 1,170 | 1,427 | 1,075 | 1,830 | |
450/3 |
5,545 | 5,248 | 3,841 | 3,384 | 172 | 401 | 1,170 | 1,427 | 1,075 | 330 | |
454/9 |
- | - | - | - | - | 200 | - | - | - | 1,500 | |
47/48 |
- | - | - | - | - | 690 | - | - | - | - | |
| Income statement | |||||||||||
9900 |
19,849 | 11,221 | 19,901 | 14,366 | 6,191 | -8,297 | 219 | 4,065 | 4,273 | 7,612 | |
630 |
4,190 | 3,769 | 3,332 | 207 | 187 | 105 | 23 | 2,346 | 2,438 | 6,104 | |
640/8 |
111 | 241 | 439 | 489 | 216 | 233 | 178 | 280 | 226 | 331 | |
66A |
- | - | - | - | - | - | 347 | - | - | - | |
9901 |
15,548 | 7,211 | 16,130 | 13,670 | 5,788 | -8,636 | -329 | 1,439 | 1,610 | 1,177 | |
75/76B |
2,600 | 2,120 | 1,328 | 1,141 | 717 | 1,149 | 1,103 | 1,102 | 1,442 | 142 | |
75 |
2,600 | 2,120 | 1,328 | 1,141 | 717 | 1,149 | 1,103 | 1,102 | 1,442 | 142 | |
65/66B |
3,340 | 4,656 | 1,697 | 1,361 | 2,014 | 819 | 480 | 258 | 278 | 478 | |
65 |
3,340 | 4,656 | 1,697 | 1,361 | 2,014 | 819 | 480 | 258 | 278 | 478 | |
9903 |
14,808 | 4,675 | 15,761 | 13,450 | 4,491 | -8,305 | 294 | 2,284 | 2,774 | 840 | |
67/77 |
3,756 | 1,624 | 3,612 | 3,212 | -1 | - | 193 | 664 | 753 | 270 | |
9904 |
11,051 | 3,051 | 12,148 | 10,237 | 4,492 | -8,305 | 101 | 1,620 | 2,021 | 571 | |
9905 |
11,051 | 3,051 | 12,148 | 10,237 | 4,492 | -8,305 | 101 | 1,620 | 2,021 | 571 | |
| Appropriation of the result | |||||||||||
9906 |
34,352 | 23,300 | 20,249 | 8,101 | -2,137 | -5,817 | 3,928 | 3,927 | 2,557 | 571 | |
14P |
23,300 | 20,249 | 8,101 | -2,137 | -6,629 | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | 100 | 250 | 35 | |
6920 |
- | - | - | - | - | - | - | 100 | 250 | 35 | |
694/7 |
- | - | - | - | - | 812 | 1,440 | - | - | - | |
694 |
- | - | - | - | - | 812 | 1,440 | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 04-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 4 days after the deadline. Filed on 4 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00386303.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 04-08-2026 | 2026-00386303 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00483923 | |
| 31-12-2023 | abbreviated format | 26-08-2024 | 2024-00425816 | |
| 31-12-2022 | abbreviated format | 19-08-2023 | 2023-00342047 | |
| 31-12-2021 | abbreviated format | 12-08-2022 | 2022-20285677 | |
| 31-12-2020 | abbreviated format | 22-09-2021 | 2021-68000555 | |
| 31-12-2019 | abbreviated format | 27-08-2020 | 2020-47200234 | |
| 31-12-2018 | abbreviated format | 11-07-2019 | 2019-32800571 | |
| 31-12-2017 | abbreviated format | 22-08-2018 | 2018-48400587 | |
| 31-12-2016 | abbreviated format | 17-08-2017 | 2017-44600589 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 19,738 | 10,979 | 19,462 | 13,877 | 5,975 | -8,530 | -306 | 3,785 | 4,048 | 7,281 | ||
| 15,241 | 6,820 | 15,480 | 10,445 | 4,679 | -8,200 | 124 | 3,966 | 4,459 | 6,675 | ||
| 1,222 | 3,392 | 9,740 | 718 | 0 | 493 | -3,347 | 0 | 231 | 11,707 | ||
| 1,226 | 1,247 | -6,499 | 5,670 | 4,390 | 379 | 2,275 | 3,534 | 1,315 | - | ||
| 43,199 | 29,180 | 25,753 | 20,013 | 12,310 | 11,009 | 15,434 | 13,081 | 11,081 | 8,905 | ||
| 32.9% | 30.4% | 41.2% | 36.4% | 21.8% | 16.4% | 45.3% | 46.0% | 41.3% | 46.6% | ||
| 1.45 | 1.35 | 1.55 | 1.55 | 1.34 | 1.42 | 1.85 | 1.67 | 1.57 | 1.82 | ||
| 1.45 | 1.35 | 1.55 | 1.55 | 1.34 | 1.42 | 1.85 | 1.67 | 1.31 | 1.40 | ||
| 2.04 | 2.29 | 1.43 | 1.75 | 3.58 | 5.10 | 1.21 | 1.17 | 1.42 | 1.15 | ||
| 23.4% | 8.5% | 36.8% | 49.0% | 42.2% | -134.9% | 0.7% | 9.8% | 13.5% | 4.4% | ||
| 7.7% | 2.6% | 15.1% | 17.9% | 9.2% | -22.1% | 0.3% | 4.5% | 5.6% | 2.1% | ||
| 5.91 | 2.36 | 11.47 | 10.20 | 2.97 | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,222 | €3,392 | €9,740 | €718 | - |
| €4,190 | €3,769 | €3,332 | €207 | €187 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on SW-PROJECTS
The operating result for 2025 is 116% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 69.6% to 67.1%. Equity and debt are higher.