ETS DE SWART: 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.
ETS DE SWART
Largest movements
- Cash -€542
down €542 (-33.4%), from €1,626 to €1,084
mainly Net result for the year (-€486) and Receivables within one year (-€70)
- Receivables within one year +€70
up €70 (+5.9%), from €1,188 to €1,257
of which Other amounts receivable: +€70
- Profit (loss) carried forward -€486
down €486 (-0.8%), from -€61,800 to -€62,286
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Gross operating margin +€214
up €214 (+39.7%), from -€539 to -€325
- Financial charges +€15
up €15 (+9.9%), from €146 to €161
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 | €3,144 | €2,671 | -€473 | -15.0% |
| Current assets | 29/58 | €3,144 | €2,671 | -€473 | -15.0% |
| Stocks and contracts in progress | 3 | €330 | €330 | = | 0.0% |
| Stocks | 30/36 | €330 | €330 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,188 | €1,257 | +€70 | +5.9% |
| Trade receivables | 40 | €719 | €719 | = | 0.0% |
| Other amounts receivable | 41 | €469 | €539 | +€70 | +14.8% |
| Cash at bank and in hand | 54/58 | €1,626 | €1,084 | -€542 | -33.4% |
| Total equity and liabilities | 10/49 | €3,144 | €2,671 | -€473 | -15.0% |
| Equity | 10/15 | -€42,926 | -€43,412 | -€486 | -1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €274 | €274 | = | 0.0% |
| Non-distributable reserves | 130/1 | €274 | €274 | = | 0.0% |
| Reserves not available under the articles | 1311 | €274 | €274 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,800 | -€62,286 | -€486 | -0.8% |
| Amounts payable | 17/49 | €46,070 | €46,083 | +€13 | 0.0% |
| Amounts payable within one year | 42/48 | €46,070 | €46,083 | +€13 | 0.0% |
| Trade debts | 44 | €1,331 | €1,344 | +€13 | +1.0% |
| Suppliers | 440/4 | €1,331 | €1,344 | +€13 | +1.0% |
| Taxes, remuneration and social security | 45 | €43 | €43 | = | 0.0% |
| Taxes | 450/3 | €43 | €43 | = | 0.0% |
| Other amounts payable | 47/48 | €44,696 | €44,696 | = | 0.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | -€539 | -€325 | +€214 | +39.7% |
| Operating profit (loss) | 9901 | -€926 | -€325 | +€601 | +64.9% |
| Financial charges | 65/66B | €146 | €161 | +€15 | +9.9% |
| Recurring financial charges | 65 | €146 | €161 | +€15 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,072 | -€486 | +€587 | +54.7% |
| Profit (loss) for the period | 9904 | -€1,072 | -€486 | +€587 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,072 | -€486 | +€587 | +54.7% |
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 31 October 2026 via checked.be.