BSWAG: 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.
BSWAG
Largest movements
- Cash -€8,435
down €8,435 (-13.4%), from €63,144 to €54,709
mainly Contributions, distributions and other (-€17,329) and Receivables within one year (-€8,421)
- Receivables within one year +€8,421
up €8,421 (+3495.5%), from €241 to €8,662
of which Trade receivables: +€6,117
- Tangible fixed assets +€1,721
up €1,721 (+181.5%), from €948 to €2,669
- Profit (loss) carried forward -€18,220
down €18,220 (-46.9%), from €38,883 to €20,663
- Other debts +€17,183
up €17,183 (+270.8%), from €6,346 to €23,529
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Tax, wage and social debts -€2,738
down €2,738 (-50.8%), from €5,387 to €2,649
of which Remuneration and social security: -€1,549
- Trade debts -€718
down €718 (-54.6%), from €1,316 to €598
- Taxes +€7,989
up €7,989 (+394.8%), from €2,024 to €10,013
- Gross operating margin -€6,228
down €6,228 (-24.4%), from €25,476 to €19,249
- Other operating charges +€1,634
up €1,634 (+134.6%), from €1,214 to €2,849
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 | €64,333 | €66,040 | +€1,707 | +2.7% |
| Fixed assets | 21/28 | €948 | €2,669 | +€1,721 | +181.5% |
| Tangible fixed assets | 22/27 | €948 | €2,669 | +€1,721 | +181.5% |
| Furniture and vehicles | 24 | €948 | €2,669 | +€1,721 | +181.5% |
| Current assets | 29/58 | €63,385 | €63,371 | -€14 | 0.0% |
| Amounts receivable within one year | 40/41 | €241 | €8,662 | +€8,421 | +3495.5% |
| Trade receivables | 40 | €241 | €6,358 | +€6,117 | +2539.1% |
| Other amounts receivable | 41 | - | €2,304 | +€2,304 | |
| Cash at bank and in hand | 54/58 | €63,144 | €54,709 | -€8,435 | -13.4% |
| Total equity and liabilities | 10/49 | €64,333 | €66,040 | +€1,707 | +2.7% |
| Equity | 10/15 | €51,283 | €39,263 | -€12,020 | -23.4% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Capital | 10 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Profit (loss) carried forward | 14 | €38,883 | €20,663 | -€18,220 | -46.9% |
| Amounts payable | 17/49 | €13,050 | €26,777 | +€13,727 | +105.2% |
| Amounts payable within one year | 42/48 | €13,050 | €26,777 | +€13,727 | +105.2% |
| Trade debts | 44 | €1,316 | €598 | -€718 | -54.6% |
| Suppliers | 440/4 | €1,316 | €598 | -€718 | -54.6% |
| Taxes, remuneration and social security | 45 | €5,387 | €2,649 | -€2,738 | -50.8% |
| Taxes | 450/3 | €3,838 | €2,649 | -€1,189 | -31.0% |
| Remuneration and social security | 454/9 | €1,549 | - | -€1,549 | |
| Other amounts payable | 47/48 | €6,346 | €23,529 | +€17,183 | +270.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €985 | €1,007 | +€22 | +2.2% |
| Other operating charges | 640/8 | €1,214 | €2,849 | +€1,634 | +134.6% |
| Gross operating margin | 9900 | €25,476 | €19,249 | -€6,228 | -24.4% |
| Operating profit (loss) | 9901 | €23,277 | €15,393 | -€7,884 | -33.9% |
| Financial charges | 65/66B | €67 | €72 | +€4 | +6.1% |
| Recurring financial charges | 65 | €67 | €72 | +€4 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €23,210 | €15,322 | -€7,888 | -34.0% |
| Income taxes | 67/77 | €2,024 | €10,013 | +€7,989 | +394.8% |
| Profit (loss) for the period | 9904 | €21,186 | €5,309 | -€15,877 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,186 | €5,309 | -€15,877 | -74.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.