scwitch: 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.
scwitch
Largest movements
- Cash -€47,926
down €47,926 (-25.0%), from €191,932 to €144,006
mainly Contributions, distributions and other (-€49,400) and Receivables within one year (-€39,314)
- Receivables within one year +€39,314
up €39,314 (+26.9%), from €146,399 to €185,713
of which Other amounts receivable: +€108,239
- Intangible fixed assets -€5,769
down €5,769 (-89.5%), from €6,447 to €678
- Contributions -€49,400
no longer reported in 2025 (was €49,400)
- Debts within one year +€31,705
up €31,705 (+31.0%), from €102,214 to €133,919
of which Trade debts: +€53,446
- Profit (loss) carried forward +€17,660
up €17,660 (+10.2%), from €173,900 to €191,560
- Accrued charges and deferred income -€13,265
down €13,265 (-93.5%), from €14,192 to €927
- Gross operating margin -€73,747
down €73,747 (-29.2%), from €252,313 to €178,565
- Staff costs +€26,999
up €26,999 (+22.6%), from €119,555 to €146,554
- Taxes -€26,840
down €26,840 (-79.9%), from €33,579 to €6,739
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.
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 | €346,706 | €333,406 | -€13,300 | -3.8% |
| Fixed assets | 21/28 | €6,644 | €2,718 | -€3,926 | -59.1% |
| Intangible fixed assets | 21 | €6,447 | €678 | -€5,769 | -89.5% |
| Tangible fixed assets | 22/27 | €198 | €2,040 | +€1,843 | +932.5% |
| Plant, machinery and equipment | 23 | €198 | €774 | +€576 | +291.7% |
| Furniture and vehicles | 24 | - | €1,266 | +€1,266 | |
| Current assets | 29/58 | €340,062 | €330,688 | -€9,374 | -2.8% |
| Amounts receivable within one year | 40/41 | €146,399 | €185,713 | +€39,314 | +26.9% |
| Trade receivables | 40 | €145,562 | €76,637 | -€68,925 | -47.4% |
| Other amounts receivable | 41 | €838 | €109,077 | +€108,239 | +12919.1% |
| Current investments | 50/53 | €1,250 | €0 | -€1,250 | -100.0% |
| Cash at bank and in hand | 54/58 | €191,932 | €144,006 | -€47,926 | -25.0% |
| Deferred charges and accrued income | 490/1 | €481 | €969 | +€488 | +101.6% |
| Total equity and liabilities | 10/49 | €346,706 | €333,406 | -€13,300 | -3.8% |
| Equity | 10/15 | €230,300 | €198,560 | -€31,740 | -13.8% |
| Contributions | 10/11 | €49,400 | - | -€49,400 | |
| Reserves | 13 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €7,000 | - | -€7,000 | |
| Profit (loss) carried forward | 14 | €173,900 | €191,560 | +€17,660 | +10.2% |
| Amounts payable | 17/49 | €116,406 | €134,846 | +€18,440 | +15.8% |
| Amounts payable within one year | 42/48 | €102,214 | €133,919 | +€31,705 | +31.0% |
| Trade debts | 44 | €25,591 | €79,037 | +€53,446 | +208.9% |
| Suppliers | 440/4 | €25,591 | €79,037 | +€53,446 | +208.9% |
| Taxes, remuneration and social security | 45 | €76,624 | €37,382 | -€39,242 | -51.2% |
| Taxes | 450/3 | €61,815 | €25,817 | -€35,998 | -58.2% |
| Remuneration and social security | 454/9 | €14,809 | €11,565 | -€3,243 | -21.9% |
| Accrued charges and deferred income | 492/3 | €14,192 | €927 | -€13,265 | -93.5% |
| Remuneration, social security and pensions | 62 | €119,555 | €146,554 | +€26,999 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,130 | €6,419 | -€711 | -10.0% |
| Other operating charges | 640/8 | €393 | €819 | +€426 | +108.3% |
| Gross operating margin | 9900 | €252,313 | €178,565 | -€73,747 | -29.2% |
| Operating profit (loss) | 9901 | €125,234 | €24,773 | -€100,461 | -80.2% |
| Financial income | 75/76B | €0 | €15 | +€15 | +147600.0% |
| Recurring financial income | 75 | €0 | €15 | +€15 | +147600.0% |
| Financial charges | 65/66B | €261 | €389 | +€128 | +48.9% |
| Recurring financial charges | 65 | €261 | €389 | +€128 | +48.9% |
| Profit (loss) for the period before taxes | 9903 | €124,973 | €24,399 | -€100,574 | -80.5% |
| Income taxes | 67/77 | €33,579 | €6,739 | -€26,840 | -79.9% |
| Profit (loss) for the period | 9904 | €91,394 | €17,660 | -€73,734 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,394 | €17,660 | -€73,734 | -80.7% |
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 8 October 2026 via checked.be.