S and W: 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.
S and W
Largest movements
- Intangible fixed assets +€78,450
up €78,450 (+143%), from €54,690 to €133,140
- Current assets +€31,613
up €31,613 (+185%), from €17,091 to €48,704
of which Cash: +€32,745
- Debts within one year +€116,651
up €116,651 (+379%), from €30,814 to €147,465
of which Trade debts: +€115,770
- Equity -€5,181
down €5,181 (-12.0%), from €43,038 to €37,857
of which Profit (loss) carried forward: -€35,081
- Depreciation +€23,227
up €23,227 (+2,300%), from €1,010 to €24,237
- Financial income +€11,848
new in 2021: €11,848
- Gross operating margin -€3,133
down €3,133 (-16.3%), from -€19,202 to -€22,335
- Other operating charges +€348
new in 2021: €348
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,852 | €185,322 | +€111,469 | +151% |
| Fixed assets | 21/28 | €56,761 | €136,617 | +€79,856 | +141% |
| Intangible fixed assets | 21 | €54,690 | €133,140 | +€78,450 | +143% |
| Tangible fixed assets | 22/27 | €1,891 | €3,297 | +€1,406 | +74.3% |
| Plant, machinery and equipment | 23 | - | €815 | +€815 | |
| Furniture and vehicles | 24 | - | €2,483 | +€2,483 | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €17,091 | €48,704 | +€31,613 | +185% |
| Amounts receivable within one year | 40/41 | €12,571 | €11,091 | -€1,480 | -11.8% |
| Trade receivables | 40 | - | €10,221 | +€10,221 | |
| Other amounts receivable | 41 | - | €870 | +€870 | |
| Cash at bank and in hand | 54/58 | €4,469 | €37,214 | +€32,745 | +733% |
| Deferred charges and accrued income | 490/1 | - | €400 | +€400 | |
| Total equity and liabilities | 10/49 | €73,852 | €185,322 | +€111,469 | +151% |
| Equity | 10/15 | €43,038 | €37,857 | -€5,181 | -12.0% |
| Contributions | 10/11 | - | €25,000 | +€25,000 | |
| Profit (loss) carried forward | 14 | -€19,909 | -€54,990 | -€35,081 | -176% |
| Investment grants | 15 | - | €67,847 | +€67,847 | |
| Amounts payable | 17/49 | €30,814 | €147,465 | +€116,651 | +379% |
| Amounts payable within one year | 42/48 | €30,814 | €147,465 | +€116,651 | +379% |
| Trade debts | 44 | €16,201 | €131,970 | +€115,770 | +715% |
| Suppliers | 440/4 | - | €131,970 | +€131,970 | |
| Taxes, remuneration and social security | 45 | - | €63 | +€63 | |
| Taxes | 450/3 | - | €63 | +€63 | |
| Other amounts payable | 47/48 | - | €15,431 | +€15,431 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,010 | €24,237 | +€23,227 | +2,300% |
| Other operating charges | 640/8 | - | €348 | +€348 | |
| Gross operating margin | 9900 | -€19,202 | -€22,335 | -€3,133 | -16.3% |
| Operating profit (loss) | 9901 | -€20,559 | -€46,919 | -€26,360 | -128% |
| Financial income | 75/76B | - | €11,848 | +€11,848 | |
| Recurring financial income | 75 | €668 | €11,848 | +€11,179 | +1,673% |
| Financial charges | 65/66B | - | €10 | +€10 | |
| Recurring financial charges | 65 | €18 | €10 | -€8 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,909 | -€35,081 | -€15,172 | -76.2% |
| Profit (loss) for the period | 9904 | -€19,909 | -€35,081 | -€15,172 | -76.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,909 | -€35,081 | -€15,172 | -76.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.