SHWAY: 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.
What changed
SHWAY
NACE 55.203, Holiday cottages, homes and apartments
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€11,213
2024 · -€4,875+€16,088
Equity
€208,477
2024 · €197,280+€11,197
Cash
€24,134
2024 · €12,847+€11,287
Balance sheet total
€2.9m
2024 · €3.0m-€29,157
Largest movements
Assets
- Financial fixed assets -€29,990
down €29,990 (-45.6%), from €65,728 to €35,738
Equity and liabilities
- Debts after one year -€38,378
down €38,378 (-1.5%), from €2.6m to €2.5m
Income statement
- Gross operating margin +€30,791
up €30,791 (+22.6%), from €136,501 to €167,292
- Staff costs +€17,641
up €17,641 (+30.7%), from €57,454 to €75,095
- Financial charges +€10,214
up €10,214 (+36.3%), from €28,140 to €38,354
- Depreciation +€3,941
up €3,941 (+11.5%), from €34,372 to €38,313
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.
Result 2024
-€4,875
Gross operating margin
+€30,791
Staff costs
-€17,641
Depreciation
-€3,941
Other operating charges
+€1,083
Other operating items
+€17,060
Financial income
-€1,051
Financial charges
-€10,214
Result 2025
€11,213
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.
From operations
+€25,393
Investment
+€11,311
Financing
-€25,418
Cash 2024
€12,847
From operations (derived)
+€25,393
Net result for the year
+€11,213
Depreciation
+€38,313
Receivables within one year
-€13,212
Deferred charges and accrued income
+€4,032
Trade debts
-€14,126
Tax, wage and social debts
+€4,976
Other debts
-€5,803
Investment (derived)
+€11,311
Investment in fixed assets (net)
+€11,311
Financing
-€25,418
Debts after one year
-€38,378
Current portion of long-term debt
+€12,976
Contributions, distributions and other
-€16
Cash 2025
€24,134
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,975,856 | €2,946,699 | -€29,157 | -1.0% |
| Fixed assets | 21/28 | €2,912,981 | €2,863,357 | -€49,624 | -1.7% |
| Intangible fixed assets | 21 | €4,775 | €5,865 | +€1,091 | +22.8% |
| Tangible fixed assets | 22/27 | €2,842,478 | €2,821,753 | -€20,725 | -0.7% |
| Land and buildings | 22 | €2,740,891 | €2,738,216 | -€2,674 | -0.1% |
| Plant, machinery and equipment | 23 | €52,370 | €44,268 | -€8,103 | -15.5% |
| Furniture and vehicles | 24 | €49,217 | €39,269 | -€9,948 | -20.2% |
| Financial fixed assets | 28 | €65,728 | €35,738 | -€29,990 | -45.6% |
| Current assets | 29/58 | €62,875 | €83,342 | +€20,467 | +32.6% |
| Amounts receivable within one year | 40/41 | €39,726 | €52,937 | +€13,212 | +33.3% |
| Trade receivables | 40 | €27,589 | €38,397 | +€10,808 | +39.2% |
| Other amounts receivable | 41 | €12,137 | €14,541 | +€2,404 | +19.8% |
| Cash at bank and in hand | 54/58 | €12,847 | €24,134 | +€11,287 | +87.9% |
| Deferred charges and accrued income | 490/1 | €10,302 | €6,271 | -€4,032 | -39.1% |
| Total equity and liabilities | 10/49 | €2,975,856 | €2,946,699 | -€29,157 | -1.0% |
| Equity | 10/15 | €197,280 | €208,477 | +€11,197 | +5.7% |
| Contributions | 10/11 | €16,201 | €16,201 | = | 0.0% |
| Revaluation surpluses | 12 | €464,192 | €464,192 | = | 0.0% |
| Reserves | 13 | €35,000 | €35,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Other | 1319 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€318,113 | -€306,916 | +€11,197 | +3.5% |
| Amounts payable | 17/49 | €2,778,576 | €2,738,222 | -€40,355 | -1.5% |
| Amounts payable after more than one year | 17 | €2,576,355 | €2,537,977 | -€38,378 | -1.5% |
| Financial debts | 170/4 | €2,576,355 | €2,537,977 | -€38,378 | -1.5% |
| Amounts payable within one year | 42/48 | €202,222 | €200,245 | -€1,977 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €168,664 | €181,640 | +€12,976 | +7.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €26,558 | €12,432 | -€14,126 | -53.2% |
| Suppliers | 440/4 | €26,558 | €12,432 | -€14,126 | -53.2% |
| Taxes, remuneration and social security | 45 | €1,192 | €6,168 | +€4,976 | +417.4% |
| Taxes | 450/3 | €982 | €5,745 | +€4,763 | +484.9% |
| Remuneration and social security | 454/9 | €210 | €423 | +€213 | +101.5% |
| Other amounts payable | 47/48 | €5,808 | €5 | -€5,803 | -99.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €57,454 | €75,095 | +€17,641 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,372 | €38,313 | +€3,941 | +11.5% |
| Other operating charges | 640/8 | €5,400 | €4,318 | -€1,083 | -20.1% |
| Non-recurring operating charges | 66A | €17,060 | €0 | -€17,060 | -100.0% |
| Gross operating margin | 9900 | €136,501 | €167,292 | +€30,791 | +22.6% |
| Operating profit (loss) | 9901 | €22,213 | €49,567 | +€27,353 | +123.1% |
| Financial income | 75/76B | €1,052 | €1 | -€1,051 | -99.9% |
| Recurring financial income | 75 | €1,052 | €1 | -€1,051 | -99.9% |
| Financial charges | 65/66B | €28,140 | €38,354 | +€10,214 | +36.3% |
| Recurring financial charges | 65 | €28,140 | €38,354 | +€10,214 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,875 | €11,213 | +€16,088 | |
| Profit (loss) for the period | 9904 | -€4,875 | €11,213 | +€16,088 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,875 | €11,213 | +€16,088 |
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 4 October 2026 via checked.be.