Sawasdee Belgium: 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.
Sawasdee Belgium
Largest movements
- Cash +€38,681
up €38,681 (+70.4%), from €54,912 to €93,593
mainly Trade debts (+€19,329) and Net result for the year (+€18,640)
- Receivables within one year +€10,543
up €10,543 (+780%), from €1,352 to €11,896
of which Trade receivables: +€10,982
- Tangible fixed assets -€4,794
down €4,794 (-39.4%), from €12,156 to €7,361
- Trade debts +€19,329
up €19,329 (+3,478%), from €556 to €19,885
- Profit (loss) carried forward +€18,640
up €18,640 (+48.2%), from €38,679 to €57,319
- Tax, wage and social debts +€11,175
up €11,175 (+77.6%), from €14,395 to €25,570
- Other debts -€3,961
down €3,961 (-83.4%), from €4,749 to €788
- Gross operating margin -€22,709
down €22,709 (-40.9%), from €55,577 to €32,869
- Taxes -€3,426
down €3,426 (-23.8%), from €14,395 to €10,969
- Financial charges +€711
up €711 (+459%), from €155 to €866
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 | €68,928 | €113,562 | +€44,634 | +64.8% |
| Fixed assets | 21/28 | €12,156 | €7,361 | -€4,794 | -39.4% |
| Tangible fixed assets | 22/27 | €12,156 | €7,361 | -€4,794 | -39.4% |
| Furniture and vehicles | 24 | €12,156 | €7,361 | -€4,794 | -39.4% |
| Current assets | 29/58 | €56,772 | €106,201 | +€49,429 | +87.1% |
| Amounts receivable within one year | 40/41 | €1,352 | €11,896 | +€10,543 | +780% |
| Trade receivables | 40 | - | €10,982 | +€10,982 | |
| Other amounts receivable | 41 | €1,352 | €914 | -€439 | -32.4% |
| Cash at bank and in hand | 54/58 | €54,912 | €93,593 | +€38,681 | +70.4% |
| Deferred charges and accrued income | 490/1 | €508 | €712 | +€204 | +40.2% |
| Total equity and liabilities | 10/49 | €68,928 | €113,562 | +€44,634 | +64.8% |
| Equity | 10/15 | €48,679 | €67,319 | +€18,640 | +38.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,679 | €57,319 | +€18,640 | +48.2% |
| Amounts payable | 17/49 | €20,249 | €46,243 | +€25,994 | +128% |
| Amounts payable within one year | 42/48 | €20,249 | €46,243 | +€25,994 | +128% |
| Trade debts | 44 | €556 | €19,885 | +€19,329 | +3,478% |
| Suppliers | 440/4 | €556 | €19,885 | +€19,329 | +3,478% |
| Advances received on contracts in progress | 46 | €550 | - | -€550 | |
| Taxes, remuneration and social security | 45 | €14,395 | €25,570 | +€11,175 | +77.6% |
| Taxes | 450/3 | €14,395 | €25,570 | +€11,175 | +77.6% |
| Other amounts payable | 47/48 | €4,749 | €788 | -€3,961 | -83.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,045 | €2,297 | +€252 | +12.3% |
| Other operating charges | 640/8 | €313 | €96 | -€217 | -69.2% |
| Gross operating margin | 9900 | €55,577 | €32,869 | -€22,709 | -40.9% |
| Operating profit (loss) | 9901 | €53,219 | €30,475 | -€22,744 | -42.7% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €155 | €866 | +€711 | +459% |
| Recurring financial charges | 65 | €155 | €866 | +€711 | +459% |
| Profit (loss) for the period before taxes | 9903 | €53,074 | €29,609 | -€23,465 | -44.2% |
| Income taxes | 67/77 | €14,395 | €10,969 | -€3,426 | -23.8% |
| Profit (loss) for the period | 9904 | €38,679 | €18,640 | -€20,039 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,679 | €18,640 | -€20,039 | -51.8% |
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 18 October 2026 via checked.be.