FIX & SWAP: what changed
Two fiscal 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.
FIX & SWAP
Largest movements
- Receivables within one year +€74,776
up €74,776 (+65.0%), from €115,013 to €189,790
of which Other amounts receivable: +€40,481
- Cash -€41,790
down €41,790 (-21.8%), from €191,334 to €149,544
mainly Receivables within one year (-€74,776) and Tax, wage and social debts (-€26,831)
- Intangible fixed assets -€11,100
down €11,100 (-33.3%), from €33,300 to €22,200
- Trade debts +€51,591
up €51,591 (+47.8%), from €107,859 to €159,450
- Tax, wage and social debts -€26,831
down €26,831 (-30.0%), from €89,442 to €62,612
of which Remuneration and social security: -€13,920
- Profit (loss) carried forward +€16,053
up €16,053 (+15.9%), from €101,061 to €117,114
- Contributions +€15,000
new in 2025: €15,000
- Debts after one year -€11,879
down €11,879 (-53.1%), from €22,371 to €10,492
- Turnover -€109,309
down €109,309 (-11.0%), from €994,000 to €884,691
- Gross operating margin -€76,936
down €76,936 (-22.6%), from €340,420 to €263,484
- Staff costs -€64,901
down €64,901 (-28.8%), from €225,178 to €160,277
- Purchases and services -€37,922
down €37,922 (-5.8%), from €659,130 to €621,208
- Provisions -€26,138
no longer reported in 2025 (was €26,138)
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 | €426,655 | €453,685 | +€27,030 | +6.3% |
| Fixed assets | 21/28 | €82,862 | €76,121 | -€6,740 | -8.1% |
| Intangible fixed assets | 21 | €33,300 | €22,200 | -€11,100 | -33.3% |
| Tangible fixed assets | 22/27 | €36,692 | €37,051 | +€360 | +1.0% |
| Furniture and vehicles | 24 | €18,698 | €18,181 | -€517 | -2.8% |
| Other tangible fixed assets | 26 | €17,994 | €18,870 | +€877 | +4.9% |
| Financial fixed assets | 28 | €12,870 | €16,870 | +€4,000 | +31.1% |
| Current assets | 29/58 | €343,793 | €377,563 | +€33,770 | +9.8% |
| Stocks and contracts in progress | 3 | €34,063 | €34,931 | +€868 | +2.5% |
| Stocks | 30/36 | €34,063 | €34,931 | +€868 | +2.5% |
| Amounts receivable within one year | 40/41 | €115,013 | €189,790 | +€74,776 | +65.0% |
| Trade receivables | 40 | €114,265 | €148,560 | +€34,295 | +30.0% |
| Other amounts receivable | 41 | €748 | €41,229 | +€40,481 | +5409.5% |
| Cash at bank and in hand | 54/58 | €191,334 | €149,544 | -€41,790 | -21.8% |
| Deferred charges and accrued income | 490/1 | €3,382 | €3,298 | -€84 | -2.5% |
| Total equity and liabilities | 10/49 | €426,655 | €453,685 | +€27,030 | +6.3% |
| Equity | 10/15 | €101,061 | €132,114 | +€31,053 | +30.7% |
| Contributions | 10/11 | - | €15,000 | +€15,000 | |
| Profit (loss) carried forward | 14 | €101,061 | €117,114 | +€16,053 | +15.9% |
| Provisions and deferred taxes | 16 | €26,138 | €26,138 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €26,138 | €26,138 | = | 0.0% |
| Other liabilities and charges | 164/5 | €26,138 | €26,138 | = | 0.0% |
| Amounts payable | 17/49 | €299,456 | €295,433 | -€4,024 | -1.3% |
| Amounts payable after more than one year | 17 | €22,371 | €10,492 | -€11,879 | -53.1% |
| Financial debts | 170/4 | €22,371 | €10,492 | -€11,879 | -53.1% |
| Amounts payable within one year | 42/48 | €277,085 | €284,941 | +€7,856 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €19,725 | €11,879 | -€7,846 | -39.8% |
| Trade debts | 44 | €107,859 | €159,450 | +€51,591 | +47.8% |
| Suppliers | 440/4 | €107,859 | €159,450 | +€51,591 | +47.8% |
| Taxes, remuneration and social security | 45 | €89,442 | €62,612 | -€26,831 | -30.0% |
| Taxes | 450/3 | €42,718 | €29,807 | -€12,911 | -30.2% |
| Remuneration and social security | 454/9 | €46,725 | €32,805 | -€13,920 | -29.8% |
| Other amounts payable | 47/48 | €60,059 | €51,000 | -€9,059 | -15.1% |
| Turnover | 70 | €994,000 | €884,691 | -€109,309 | -11.0% |
| Non-recurring operating income | 76A | €5,550 | - | -€5,550 | |
| Goods, raw materials, services and sundry goods | 60/61 | €659,130 | €621,208 | -€37,922 | -5.8% |
| Remuneration, social security and pensions | 62 | €225,178 | €160,277 | -€64,901 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,083 | €25,152 | +€17,070 | +211.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €26,138 | - | -€26,138 | |
| Other operating charges | 640/8 | €812 | €733 | -€80 | -9.8% |
| Gross operating margin | 9900 | €340,420 | €263,484 | -€76,936 | -22.6% |
| Operating profit (loss) | 9901 | €80,208 | €77,321 | -€2,887 | -3.6% |
| Financial income | 75/76B | €321 | €819 | +€497 | +154.7% |
| Recurring financial income | 75 | €321 | €819 | +€497 | +154.7% |
| Financial charges | 65/66B | €7,827 | €8,295 | +€468 | +6.0% |
| Recurring financial charges | 65 | €7,827 | €8,295 | +€468 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €72,703 | €69,845 | -€2,858 | -3.9% |
| Income taxes | 67/77 | €24,551 | €13,792 | -€10,759 | -43.8% |
| Profit (loss) for the period | 9904 | €48,152 | €56,053 | +€7,902 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,152 | €56,053 | +€7,902 | +16.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.