EAGLE & SWAN: 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.
EAGLE & SWAN
Largest movements
- Receivables within one year +€95,310
up €95,310 (+17.3%), from €551,345 to €646,655
of which Trade receivables: +€103,655
- Cash +€86,987
up €86,987 (+36.2%), from €240,423 to €327,410
mainly Net result for the year (+€435,655) and Other debts (+€93,292)
- Intangible fixed assets -€76,000
down €76,000 (-100%), from €76,000 to €0
- Other debts +€93,292
up €93,292 (+17.3%), from €538,580 to €631,872
- Tax, wage and social debts +€45,851
up €45,851 (+120%), from €38,053 to €83,903
- Current portion of long-term debt -€30,539
down €30,539 (-74.8%), from €40,819 to €10,279
- Debts after one year -€10,279
no longer reported in 2025 (was €10,279)
- Financial income +€64,928
up €64,928 (+801,581%), from €8 to €64,936
- Gross operating margin +€29,528
up €29,528 (+6.6%), from €450,762 to €480,290
- Taxes +€7,183
up €7,183 (+92.5%), from €7,764 to €14,946
- Depreciation -€5,225
down €5,225 (-5.7%), from €91,651 to €86,426
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 | €905,912 | €1,004,394 | +€98,482 | +10.9% |
| Fixed assets | 21/28 | €111,095 | €30,329 | -€80,766 | -72.7% |
| Intangible fixed assets | 21 | €76,000 | €0 | -€76,000 | -100% |
| Tangible fixed assets | 22/27 | €22,294 | €17,528 | -€4,766 | -21.4% |
| Plant, machinery and equipment | 23 | €14,565 | €14,718 | +€153 | +1.0% |
| Furniture and vehicles | 24 | €7,729 | €2,810 | -€4,919 | -63.6% |
| Financial fixed assets | 28 | €12,801 | €12,801 | = | 0.0% |
| Current assets | 29/58 | €794,817 | €974,065 | +€179,248 | +22.6% |
| Amounts receivable within one year | 40/41 | €551,345 | €646,655 | +€95,310 | +17.3% |
| Trade receivables | 40 | €540,059 | €643,714 | +€103,655 | +19.2% |
| Other amounts receivable | 41 | €11,286 | €2,942 | -€8,344 | -73.9% |
| Cash at bank and in hand | 54/58 | €240,423 | €327,410 | +€86,987 | +36.2% |
| Deferred charges and accrued income | 490/1 | €3,049 | - | -€3,049 | |
| Total equity and liabilities | 10/49 | €905,912 | €1,004,394 | +€98,482 | +10.9% |
| Equity | 10/15 | €85,778 | €91,432 | +€5,655 | +6.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €80,778 | €86,432 | +€5,655 | +7.0% |
| Distributable reserves | 133 | €80,778 | €86,432 | +€5,655 | +7.0% |
| Amounts payable | 17/49 | €820,135 | €912,962 | +€92,827 | +11.3% |
| Amounts payable after more than one year | 17 | €10,279 | - | -€10,279 | |
| Financial debts | 170/4 | €10,279 | - | -€10,279 | |
| Amounts payable within one year | 42/48 | €809,855 | €912,962 | +€103,107 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €40,819 | €10,279 | -€30,539 | -74.8% |
| Trade debts | 44 | €192,404 | €186,908 | -€5,496 | -2.9% |
| Suppliers | 440/4 | €192,404 | €186,908 | -€5,496 | -2.9% |
| Taxes, remuneration and social security | 45 | €38,053 | €83,903 | +€45,851 | +120% |
| Taxes | 450/3 | €38,053 | €83,903 | +€45,851 | +120% |
| Other amounts payable | 47/48 | €538,580 | €631,872 | +€93,292 | +17.3% |
| Remuneration, social security and pensions | 62 | €2,422 | €5,995 | +€3,574 | +148% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,651 | €86,426 | -€5,225 | -5.7% |
| Other operating charges | 640/8 | €499 | €1,094 | +€594 | +119% |
| Gross operating margin | 9900 | €450,762 | €480,290 | +€29,528 | +6.6% |
| Operating profit (loss) | 9901 | €356,189 | €386,775 | +€30,586 | +8.6% |
| Financial income | 75/76B | €8 | €64,936 | +€64,928 | +801,581% |
| Recurring financial income | 75 | €8 | €64,936 | +€64,928 | +801,581% |
| Financial charges | 65/66B | €1,588 | €1,111 | -€477 | -30.1% |
| Recurring financial charges | 65 | €1,588 | €1,111 | -€477 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €354,610 | €450,601 | +€95,991 | +27.1% |
| Income taxes | 67/77 | €7,764 | €14,946 | +€7,183 | +92.5% |
| Profit (loss) for the period | 9904 | €346,846 | €435,655 | +€88,809 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €346,846 | €435,655 | +€88,809 | +25.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.