SAWIM: what changed
Two fiscal 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.
SAWIM
Largest movements
- Current investments -€600,000
no longer reported in 2025 (was €600,000)
- Cash +€451,166
up €451,166 (+426.4%), from €105,817 to €556,983
mainly Current investments (+€600,000) and Depreciation (+€60,538)
- Receivables within one year +€200,039
up €200,039 (+1077.8%), from €18,560 to €218,599
- Tangible fixed assets -€60,538
down €60,538 (-7.0%), from €861,940 to €801,402
of which Land and buildings: -€56,423
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€18,066
down €18,066 (-79.7%), from €22,682 to €4,616
- Gross operating margin +€6,406
up €6,406 (+6.0%), from €106,071 to €112,477
- Taxes -€2,683
down €2,683 (-16.2%), from €16,576 to €13,893
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.
Cash bridge derived
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 | €1,586,317 | €1,576,984 | -€9,334 | -0.6% |
| Fixed assets | 21/28 | €861,940 | €801,402 | -€60,538 | -7.0% |
| Tangible fixed assets | 22/27 | €861,940 | €801,402 | -€60,538 | -7.0% |
| Land and buildings | 22 | €846,154 | €789,731 | -€56,423 | -6.7% |
| Plant, machinery and equipment | 23 | €6,491 | €4,594 | -€1,897 | -29.2% |
| Furniture and vehicles | 24 | €9,295 | €7,077 | -€2,218 | -23.9% |
| Current assets | 29/58 | €724,377 | €775,582 | +€51,204 | +7.1% |
| Amounts receivable within one year | 40/41 | €18,560 | €218,599 | +€200,039 | +1077.8% |
| Other amounts receivable | 41 | €18,560 | €218,599 | +€200,039 | +1077.8% |
| Current investments | 50/53 | €600,000 | - | -€600,000 | |
| Cash at bank and in hand | 54/58 | €105,817 | €556,983 | +€451,166 | +426.4% |
| Total equity and liabilities | 10/49 | €1,586,317 | €1,576,984 | -€9,334 | -0.6% |
| Equity | 10/15 | €1,518,917 | €1,515,301 | -€3,617 | -0.2% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €14,476 | €14,476 | = | 0.0% |
| Distributable reserves | 133 | €14,476 | €14,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,441 | €825 | -€3,617 | -81.4% |
| Amounts payable | 17/49 | €67,400 | €61,683 | -€5,717 | -8.5% |
| Amounts payable within one year | 42/48 | €67,400 | €61,683 | -€5,717 | -8.5% |
| Trade debts | 44 | €824 | €2,790 | +€1,966 | +238.6% |
| Suppliers | 440/4 | €824 | €2,790 | +€1,966 | +238.6% |
| Taxes, remuneration and social security | 45 | €16,576 | €13,893 | -€2,683 | -16.2% |
| Taxes | 450/3 | €16,576 | €13,893 | -€2,683 | -16.2% |
| Other amounts payable | 47/48 | €50,000 | €45,000 | -€5,000 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,004 | €60,538 | +€534 | +0.9% |
| Other operating charges | 640/8 | €968 | €1,098 | +€131 | +13.5% |
| Gross operating margin | 9900 | €106,071 | €112,477 | +€6,406 | +6.0% |
| Operating profit (loss) | 9901 | €45,100 | €50,841 | +€5,741 | +12.7% |
| Financial income | 75/76B | €22,682 | €4,616 | -€18,066 | -79.7% |
| Recurring financial income | 75 | €22,682 | €4,616 | -€18,066 | -79.7% |
| Financial charges | 65/66B | €150 | €180 | +€30 | +20.0% |
| Recurring financial charges | 65 | €150 | €180 | +€30 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €67,632 | €55,276 | -€12,356 | -18.3% |
| Income taxes | 67/77 | €16,576 | €13,893 | -€2,683 | -16.2% |
| Profit (loss) for the period | 9904 | €51,056 | €41,383 | -€9,672 | -18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €51,056 | €41,383 | -€9,672 | -18.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.