Marcel Swennen: 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.
Marcel Swennen
Largest movements
- Cash +€657
up €657 (+659%), from €100 to €756
mainly Other debts (+€2,914) and Receivables within one year (+€503)
- Receivables within one year -€503
down €503 (-26.0%), from €1,939 to €1,436
of which Trade receivables: -€629
- Other debts +€2,914
up €2,914 (+18.8%), from €15,493 to €18,407
- Profit (loss) carried forward -€1,853
down €1,853 (-6.9%), from -€26,761 to -€28,614
- Trade debts -€520
no longer reported in 2025 (was €520)
- Accrued charges and deferred income -€387
no longer reported in 2025 (was €387)
- Gross operating margin +€2,170
up €2,170 (+60.1%), from -€3,613 to -€1,443
- Other operating charges -€449
no longer reported in 2025 (was €449)
- Financial charges +€54
up €54 (+15.2%), from €356 to €410
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 | €2,039 | €2,192 | +€153 | +7.5% |
| Current assets | 29/58 | €2,039 | €2,192 | +€153 | +7.5% |
| Amounts receivable within one year | 40/41 | €1,939 | €1,436 | -€503 | -26.0% |
| Trade receivables | 40 | €629 | - | -€629 | |
| Other amounts receivable | 41 | €1,310 | €1,436 | +€126 | +9.6% |
| Cash at bank and in hand | 54/58 | €100 | €756 | +€657 | +659% |
| Total equity and liabilities | 10/49 | €2,039 | €2,192 | +€153 | +7.5% |
| Equity | 10/15 | -€14,361 | -€16,214 | -€1,853 | -12.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,761 | -€28,614 | -€1,853 | -6.9% |
| Amounts payable | 17/49 | €16,400 | €18,407 | +€2,007 | +12.2% |
| Amounts payable within one year | 42/48 | €16,013 | €18,407 | +€2,394 | +15.0% |
| Trade debts | 44 | €520 | - | -€520 | |
| Suppliers | 440/4 | €520 | - | -€520 | |
| Other amounts payable | 47/48 | €15,493 | €18,407 | +€2,914 | +18.8% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Other operating charges | 640/8 | €449 | - | -€449 | |
| Gross operating margin | 9900 | -€3,613 | -€1,443 | +€2,170 | +60.1% |
| Operating profit (loss) | 9901 | -€4,062 | -€1,443 | +€2,619 | +64.5% |
| Financial charges | 65/66B | €356 | €410 | +€54 | +15.2% |
| Recurring financial charges | 65 | €356 | €410 | +€54 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,418 | -€1,853 | +€2,565 | +58.1% |
| Profit (loss) for the period | 9904 | -€4,418 | -€1,853 | +€2,565 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,418 | -€1,853 | +€2,565 | +58.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.