IMMO SWENNEN: what changed
What changed
IMMO SWENNEN
NACE 42.220, Construction of utility projects for electricity and telecommunications
filed annual accounts (NBB)
Net result for the year
€7,844
2024 · €29,055-€21,210
Equity
€169,807
2024 · €161,962+€7,844
Cash
€251
2024 · €1,966-€1,715
Balance sheet total
€2.5m
2024 · €1.9m+€630,019
Largest movements
Assets
- Receivables within one year +€609,217
up €609,217 (+38.5%), from €1.6m to €2.2m
of which Trade receivables: +€569,231
Equity and liabilities
- Other debts +€610,823
up €610,823 (+38.5%), from €1.6m to €2.2m
Income statement
- Gross operating margin -€16,520
down €16,520 (-22.7%), from €72,841 to €56,321
- Financial charges +€14,895
up €14,895 (+32.5%), from €45,792 to €60,687
- Depreciation +€10,859
up €10,859 (+115%), from €9,435 to €20,294
- Taxes -€7,979
down €7,979 (-69.5%), from €11,486 to €3,507
- Financial income +€7,924
up €7,924 (+19.9%), from €39,847 to €47,771
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€29,055
Gross operating margin
-€16,520
Depreciation
-€10,859
Other operating charges
+€22
Other operating items
+€5,140
Financial income
+€7,924
Financial charges
-€14,895
Taxes
+€7,979
Result 2025
€7,844
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€32,055
Investment
-€32,241
Financing
-€1,529
Cash 2024
€1,966
From operations (derived)
+€32,055
Net result for the year
+€7,844
Depreciation
+€20,294
Stocks and contracts
-€1,979
Receivables within one year
-€609,217
Deferred charges and accrued income
-€8,590
Trade debts
-€8,217
Tax, wage and social debts
+€3,507
Other debts
+€610,823
Accrued charges and deferred income
+€17,589
Investment (derived)
-€32,241
Investment in fixed assets (net)
-€32,241
Financing
-€1,529
Current portion of long-term debt
-€2,948
Short-term financial debts
+€1,419
Cash 2025
€251
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,916,829 | €2,546,848 | +€630,019 | +32.9% |
| Fixed assets | 21/28 | €280,510 | €292,458 | +€11,947 | +4.3% |
| Tangible fixed assets | 22/27 | €279,596 | €291,544 | +€11,947 | +4.3% |
| Land and buildings | 22 | €112,752 | €106,940 | -€5,812 | -5.2% |
| Plant, machinery and equipment | 23 | €2,748 | €2,428 | -€321 | -11.7% |
| Furniture and vehicles | 24 | €10,346 | €28,426 | +€18,080 | +175% |
| Other tangible fixed assets | 26 | €153,750 | €153,750 | = | 0.0% |
| Financial fixed assets | 28 | €914 | €914 | = | 0.0% |
| Current assets | 29/58 | €1,636,319 | €2,254,390 | +€618,071 | +37.8% |
| Stocks and contracts in progress | 3 | €5,561 | €7,540 | +€1,979 | +35.6% |
| Stocks | 30/36 | €5,561 | €7,540 | +€1,979 | +35.6% |
| Amounts receivable within one year | 40/41 | €1,584,279 | €2,193,496 | +€609,217 | +38.5% |
| Trade receivables | 40 | €26,769 | €596,000 | +€569,231 | +2,126% |
| Other amounts receivable | 41 | €1,557,510 | €1,597,496 | +€39,986 | +2.6% |
| Cash at bank and in hand | 54/58 | €1,966 | €251 | -€1,715 | -87.3% |
| Deferred charges and accrued income | 490/1 | €44,513 | €53,104 | +€8,590 | +19.3% |
| Total equity and liabilities | 10/49 | €1,916,829 | €2,546,848 | +€630,019 | +32.9% |
| Equity | 10/15 | €161,962 | €169,807 | +€7,844 | +4.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €39,490 | €39,490 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,845 | €9,845 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,645 | €3,645 | = | 0.0% |
| Tax-exempt reserves | 132 | €550 | €550 | = | 0.0% |
| Distributable reserves | 133 | €29,095 | €29,095 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,473 | €68,317 | +€7,844 | +13.0% |
| Amounts payable | 17/49 | €1,754,867 | €2,377,041 | +€622,174 | +35.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,713,133 | €2,317,718 | +€604,585 | +35.3% |
| Current portion of amounts payable after more than one year | 42 | €2,948 | €0 | -€2,948 | -100% |
| Financial debts | 43 | - | €1,419 | +€1,419 | |
| Credit institutions | 430/8 | - | €1,419 | +€1,419 | |
| Trade debts | 44 | €111,953 | €103,737 | -€8,217 | -7.3% |
| Suppliers | 440/4 | €111,953 | €103,737 | -€8,217 | -7.3% |
| Taxes, remuneration and social security | 45 | €11,913 | €15,421 | +€3,507 | +29.4% |
| Taxes | 450/3 | €11,913 | €15,421 | +€3,507 | +29.4% |
| Other amounts payable | 47/48 | €1,586,319 | €2,197,142 | +€610,823 | +38.5% |
| Accrued charges and deferred income | 492/3 | €41,734 | €59,323 | +€17,589 | +42.1% |
| Non-recurring operating income | 76A | €13,000 | €20,825 | +€7,825 | +60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,435 | €20,294 | +€10,859 | +115% |
| Other operating charges | 640/8 | €11,781 | €11,759 | -€22 | -0.2% |
| Non-recurring operating charges | 66A | €5,140 | €0 | -€5,140 | -100% |
| Gross operating margin | 9900 | €72,841 | €56,321 | -€16,520 | -22.7% |
| Operating profit (loss) | 9901 | €46,486 | €24,268 | -€22,218 | -47.8% |
| Financial income | 75/76B | €39,847 | €47,771 | +€7,924 | +19.9% |
| Recurring financial income | 75 | €39,847 | €47,771 | +€7,924 | +19.9% |
| Financial charges | 65/66B | €45,792 | €60,687 | +€14,895 | +32.5% |
| Recurring financial charges | 65 | €45,792 | €60,687 | +€14,895 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | €40,540 | €11,351 | -€29,189 | -72.0% |
| Income taxes | 67/77 | €11,486 | €3,507 | -€7,979 | -69.5% |
| Profit (loss) for the period | 9904 | €29,055 | €7,844 | -€21,210 | -73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,055 | €7,844 | -€21,210 | -73.0% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.