Schwenroe: 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.
Schwenroe
Largest movements
- Receivables within one year -€44,576
down €44,576 (-20.6%), from €216,669 to €172,093
of which Trade receivables: -€36,621
- Cash -€32,262
down €32,262 (-27.6%), from €116,848 to €84,586
mainly Trade debts (-€37,296) and Net result for the year (-€37,188)
- Tangible fixed assets -€6,154
down €6,154 (-11.2%), from €54,850 to €48,696
of which Furniture and vehicles: -€7,346
- Deferred charges and accrued income +€4,476
up €4,476 (+92.3%), from €4,848 to €9,323
- Trade debts -€37,296
down €37,296 (-13.1%), from €285,003 to €247,707
- Profit (loss) carried forward -€28,433
down €28,433 (-13.9%), from -€204,487 to -€232,920
- Reserves -€8,755
down €8,755 (-3.7%), from €234,545 to €225,789
of which Distributable reserves: -€8,755
- Tax, wage and social debts -€4,905
down €4,905 (-4.9%), from €100,490 to €95,586
of which Taxes: -€8,670
- Staff costs +€122,683
up €122,683 (+14.4%), from €849,814 to €972,497
- Gross operating margin +€40,965
up €40,965 (+4.4%), from €923,774 to €964,739
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 | €447,203 | €370,440 | -€76,763 | -17.2% |
| Fixed assets | 21/28 | €69,858 | €63,704 | -€6,154 | -8.8% |
| Tangible fixed assets | 22/27 | €54,850 | €48,696 | -€6,154 | -11.2% |
| Plant, machinery and equipment | 23 | €34,504 | €35,696 | +€1,192 | +3.5% |
| Furniture and vehicles | 24 | €20,346 | €13,000 | -€7,346 | -36.1% |
| Financial fixed assets | 28 | €15,008 | €15,008 | = | 0.0% |
| Current assets | 29/58 | €377,345 | €306,736 | -€70,609 | -18.7% |
| Stocks and contracts in progress | 3 | €38,980 | €40,734 | +€1,754 | +4.5% |
| Stocks | 30/36 | €38,980 | €40,734 | +€1,754 | +4.5% |
| Amounts receivable within one year | 40/41 | €216,669 | €172,093 | -€44,576 | -20.6% |
| Trade receivables | 40 | €54,010 | €17,389 | -€36,621 | -67.8% |
| Other amounts receivable | 41 | €162,659 | €154,704 | -€7,955 | -4.9% |
| Cash at bank and in hand | 54/58 | €116,848 | €84,586 | -€32,262 | -27.6% |
| Deferred charges and accrued income | 490/1 | €4,848 | €9,323 | +€4,476 | +92.3% |
| Total equity and liabilities | 10/49 | €447,203 | €370,440 | -€76,763 | -17.2% |
| Equity | 10/15 | €54,847 | €17,658 | -€37,188 | -67.8% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €234,545 | €225,789 | -€8,755 | -3.7% |
| Non-distributable reserves | 130/1 | €2,789 | €2,789 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,789 | €2,789 | = | 0.0% |
| Distributable reserves | 133 | €231,755 | €223,000 | -€8,755 | -3.8% |
| Profit (loss) carried forward | 14 | -€204,487 | -€232,920 | -€28,433 | -13.9% |
| Amounts payable | 17/49 | €392,356 | €352,781 | -€39,575 | -10.1% |
| Amounts payable within one year | 42/48 | €392,356 | €352,781 | -€39,575 | -10.1% |
| Trade debts | 44 | €285,003 | €247,707 | -€37,296 | -13.1% |
| Suppliers | 440/4 | €285,003 | €247,707 | -€37,296 | -13.1% |
| Taxes, remuneration and social security | 45 | €100,490 | €95,586 | -€4,905 | -4.9% |
| Taxes | 450/3 | €32,118 | €23,448 | -€8,670 | -27.0% |
| Remuneration and social security | 454/9 | €68,372 | €72,138 | +€3,765 | +5.5% |
| Other amounts payable | 47/48 | €6,864 | €9,489 | +€2,626 | +38.3% |
| Remuneration, social security and pensions | 62 | €849,814 | €972,497 | +€122,683 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,600 | €22,099 | -€8,501 | -27.8% |
| Other operating charges | 640/8 | €4,873 | €7,124 | +€2,251 | +46.2% |
| Gross operating margin | 9900 | €923,774 | €964,739 | +€40,965 | +4.4% |
| Operating profit (loss) | 9901 | €38,487 | -€36,981 | -€75,468 | |
| Financial income | 75/76B | €7,827 | €7,077 | -€750 | -9.6% |
| Recurring financial income | 75 | €7,827 | €7,077 | -€750 | -9.6% |
| Financial charges | 65/66B | €7,309 | €7,143 | -€166 | -2.3% |
| Recurring financial charges | 65 | €7,309 | €7,143 | -€166 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €39,005 | -€37,047 | -€76,052 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €38,865 | -€37,188 | -€76,053 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,865 | -€37,188 | -€76,053 |
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 22 October 2026 via checked.be.