Full Swing: 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.
Full Swing
Largest movements
- Tangible fixed assets +€31,294
up €31,294 (+238.0%), from €13,150 to €44,443
of which Furniture and vehicles: +€17,676
- Cash +€3,095
up €3,095 (+7.5%), from €41,463 to €44,558
mainly Net result for the year (+€27,079) and Depreciation (+€11,931)
- Receivables within one year -€1,870
down €1,870 (-24.6%), from €7,606 to €5,736
of which Trade receivables: -€1,334
- Reserves +€26,246
up €26,246 (+79.1%), from €33,191 to €59,437
- Current portion of long-term debt +€5,479
new in 2025: €5,479
- Other debts -€2,307
down €2,307 (-7.9%), from €29,156 to €26,849
- Trade debts +€1,358
up €1,358 (+118.4%), from €1,147 to €2,505
- Gross operating margin +€12,319
up €12,319 (+34.0%), from €36,257 to €48,576
- Depreciation +€1,542
up €1,542 (+14.8%), from €10,389 to €11,931
- Taxes +€1,382
up €1,382 (+23.9%), from €5,783 to €7,165
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 | €68,379 | €99,618 | +€31,238 | +45.7% |
| Fixed assets | 21/28 | €17,649 | €48,443 | +€30,794 | +174.5% |
| Intangible fixed assets | 21 | €4,499 | €3,999 | -€500 | -11.1% |
| Tangible fixed assets | 22/27 | €13,150 | €44,443 | +€31,294 | +238.0% |
| Plant, machinery and equipment | 23 | €5,159 | €18,776 | +€13,617 | +264.0% |
| Furniture and vehicles | 24 | €7,991 | €25,667 | +€17,676 | +221.2% |
| Current assets | 29/58 | €50,730 | €51,175 | +€445 | +0.9% |
| Amounts receivable within one year | 40/41 | €7,606 | €5,736 | -€1,870 | -24.6% |
| Trade receivables | 40 | €5,400 | €4,067 | -€1,334 | -24.7% |
| Other amounts receivable | 41 | €2,206 | €1,670 | -€536 | -24.3% |
| Cash at bank and in hand | 54/58 | €41,463 | €44,558 | +€3,095 | +7.5% |
| Deferred charges and accrued income | 490/1 | €1,661 | €881 | -€780 | -47.0% |
| Total equity and liabilities | 10/49 | €68,379 | €99,618 | +€31,238 | +45.7% |
| Equity | 10/15 | €36,191 | €62,437 | +€26,246 | +72.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €33,191 | €59,437 | +€26,246 | +79.1% |
| Distributable reserves | 133 | €33,191 | €59,437 | +€26,246 | +79.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,189 | €37,181 | +€4,992 | +15.5% |
| Amounts payable after more than one year | 17 | - | €864 | +€864 | |
| Financial debts | 170/4 | - | €864 | +€864 | |
| Amounts payable within one year | 42/48 | €30,358 | €34,840 | +€4,482 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | - | €5,479 | +€5,479 | |
| Trade debts | 44 | €1,147 | €2,505 | +€1,358 | +118.4% |
| Suppliers | 440/4 | €1,147 | €2,505 | +€1,358 | +118.4% |
| Taxes, remuneration and social security | 45 | €55 | €6 | -€48 | -88.5% |
| Taxes | 450/3 | €55 | €6 | -€48 | -88.5% |
| Other amounts payable | 47/48 | €29,156 | €26,849 | -€2,307 | -7.9% |
| Accrued charges and deferred income | 492/3 | €1,831 | €1,477 | -€354 | -19.3% |
| Non-recurring operating income | 76A | - | €5,543 | +€5,543 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,389 | €11,931 | +€1,542 | +14.8% |
| Other operating charges | 640/8 | €684 | €595 | -€89 | -13.0% |
| Gross operating margin | 9900 | €36,257 | €48,576 | +€12,319 | +34.0% |
| Operating profit (loss) | 9901 | €25,184 | €36,050 | +€10,866 | +43.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,981 | €1,806 | -€175 | -8.9% |
| Recurring financial charges | 65 | €1,981 | €1,806 | -€175 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €23,204 | €34,244 | +€11,041 | +47.6% |
| Income taxes | 67/77 | €5,783 | €7,165 | +€1,382 | +23.9% |
| Profit (loss) for the period | 9904 | €17,421 | €27,079 | +€9,659 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,421 | €27,079 | +€9,659 | +55.4% |
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 12 October 2026 via checked.be.