S.M.W.I.: 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.M.W.I.
Largest movements
- Receivables within one year +€445,118
up €445,118 (+7,343%), from €6,062 to €451,180
of which Trade receivables: +€448,016
- Stocks and contracts +€345,000
new in 2025: €345,000
- Tangible fixed assets -€45,000
no longer reported in 2025 (was €45,000)
- Cash +€11,403
up €11,403 (+8,574%), from €133 to €11,536
mainly Other debts (+€528,917) and Trade debts (+€400,911)
- Other debts +€528,917
up €528,917 (+972%), from €54,423 to €583,340
- Trade debts +€400,911
up €400,911 (+498%), from €80,438 to €481,349
- Profit (loss) carried forward -€215,307
down €215,307 (-251%), from -€85,666 to -€300,973
- Debts after one year +€42,000
new in 2025: €42,000
- Gross operating margin -€130,970
down €130,970 (-157%), from -€83,584 to -€214,554
- Purchases and services -€83,584
no longer reported in 2025 (was €83,584)
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 | €51,195 | €807,716 | +€756,521 | +1,478% |
| Fixed assets | 21/28 | €45,000 | - | -€45,000 | |
| Tangible fixed assets | 22/27 | €45,000 | - | -€45,000 | |
| Land and buildings | 22 | €45,000 | - | -€45,000 | |
| Current assets | 29/58 | €6,195 | €807,716 | +€801,521 | +12,938% |
| Stocks and contracts in progress | 3 | - | €345,000 | +€345,000 | |
| Stocks | 30/36 | - | €345,000 | +€345,000 | |
| Amounts receivable within one year | 40/41 | €6,062 | €451,180 | +€445,118 | +7,343% |
| Trade receivables | 40 | €545 | €448,561 | +€448,016 | +82,205% |
| Other amounts receivable | 41 | €5,517 | €2,619 | -€2,898 | -52.5% |
| Cash at bank and in hand | 54/58 | €133 | €11,536 | +€11,403 | +8,574% |
| Total equity and liabilities | 10/49 | €51,195 | €807,716 | +€756,521 | +1,478% |
| Equity | 10/15 | -€83,666 | -€298,973 | -€215,307 | -257% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,666 | -€300,973 | -€215,307 | -251% |
| Amounts payable | 17/49 | €134,861 | €1,106,689 | +€971,828 | +721% |
| Amounts payable after more than one year | 17 | - | €42,000 | +€42,000 | |
| Financial debts | 170/4 | - | €42,000 | +€42,000 | |
| Amounts payable within one year | 42/48 | €134,861 | €1,064,689 | +€929,828 | +689% |
| Trade debts | 44 | €80,438 | €481,349 | +€400,911 | +498% |
| Suppliers | 440/4 | €80,438 | €481,349 | +€400,911 | +498% |
| Other amounts payable | 47/48 | €54,423 | €583,340 | +€528,917 | +972% |
| Goods, raw materials, services and sundry goods | 60/61 | €83,584 | - | -€83,584 | |
| Other operating charges | 640/8 | €255 | €430 | +€175 | +68.6% |
| Gross operating margin | 9900 | -€83,584 | -€214,554 | -€130,970 | -157% |
| Operating profit (loss) | 9901 | -€83,839 | -€214,984 | -€131,145 | -156% |
| Financial charges | 65/66B | €19 | €323 | +€304 | +1,600% |
| Recurring financial charges | 65 | €19 | €323 | +€304 | +1,600% |
| Profit (loss) for the period before taxes | 9903 | -€83,858 | -€215,307 | -€131,449 | -157% |
| Profit (loss) for the period | 9904 | -€83,858 | -€215,307 | -€131,449 | -157% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,858 | -€215,307 | -€131,449 | -157% |
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 24 October 2026 via checked.be.