SW CONSULTING: 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.
SW CONSULTING
Largest movements
- Current investments +€106,636
up €106,636 (+36.6%), from €291,358 to €397,994
- Cash -€97,197
down €97,197 (-78.5%), from €123,814 to €26,617
mainly Current investments (-€106,636) and Contributions, distributions and other (-€95,000)
- Receivables within one year -€17,428
down €17,428 (-93.8%), from €18,580 to €1,152
of which Trade receivables: -€17,860
- Tangible fixed assets -€7,685
down €7,685 (-67.9%), from €11,315 to €3,630
- Reserves -€95,000
down €95,000 (-29.3%), from €324,641 to €229,641
of which Distributable reserves: -€307,943
- Other debts +€90,429
up €90,429 (+1,331%), from €6,793 to €97,223
- Profit (loss) carried forward -€9,953
down €9,953 (-10.9%), from €90,927 to €80,974
- Gross operating margin -€81,135
down €81,135, from €76,124 to -€5,011
- Taxes -€19,023
down €19,023 (-97.4%), from €19,529 to €506
- Financial income +€3,559
up €3,559 (+427%), from €833 to €4,393
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 | €445,068 | €429,393 | -€15,675 | -3.5% |
| Fixed assets | 21/28 | €11,315 | €3,630 | -€7,685 | -67.9% |
| Tangible fixed assets | 22/27 | €11,315 | €3,630 | -€7,685 | -67.9% |
| Furniture and vehicles | 24 | €11,315 | €3,630 | -€7,685 | -67.9% |
| Current assets | 29/58 | €433,752 | €425,762 | -€7,990 | -1.8% |
| Amounts receivable within one year | 40/41 | €18,580 | €1,152 | -€17,428 | -93.8% |
| Trade receivables | 40 | €17,860 | - | -€17,860 | |
| Other amounts receivable | 41 | €721 | €1,152 | +€431 | +59.9% |
| Current investments | 50/53 | €291,358 | €397,994 | +€106,636 | +36.6% |
| Cash at bank and in hand | 54/58 | €123,814 | €26,617 | -€97,197 | -78.5% |
| Total equity and liabilities | 10/49 | €445,068 | €429,393 | -€15,675 | -3.5% |
| Equity | 10/15 | €434,117 | €329,164 | -€104,953 | -24.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €324,641 | €229,641 | -€95,000 | -29.3% |
| Tax-exempt reserves | 132 | - | €212,943 | +€212,943 | |
| Distributable reserves | 133 | €324,641 | €16,697 | -€307,943 | -94.9% |
| Profit (loss) carried forward | 14 | €90,927 | €80,974 | -€9,953 | -10.9% |
| Amounts payable | 17/49 | €10,950 | €100,229 | +€89,279 | +815% |
| Amounts payable within one year | 42/48 | €10,950 | €97,479 | +€86,529 | +790% |
| Trade debts | 44 | €395 | €256 | -€139 | -35.3% |
| Suppliers | 440/4 | €395 | €256 | -€139 | -35.3% |
| Taxes, remuneration and social security | 45 | €3,761 | - | -€3,761 | |
| Taxes | 450/3 | €3,761 | - | -€3,761 | |
| Other amounts payable | 47/48 | €6,793 | €97,223 | +€90,429 | +1,331% |
| Accrued charges and deferred income | 492/3 | - | €2,750 | +€2,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,242 | €7,685 | +€444 | +6.1% |
| Other operating charges | 640/8 | €1,188 | €1,101 | -€87 | -7.4% |
| Gross operating margin | 9900 | €76,124 | -€5,011 | -€81,135 | |
| Operating profit (loss) | 9901 | €67,694 | -€13,797 | -€81,491 | |
| Financial income | 75/76B | €833 | €4,393 | +€3,559 | +427% |
| Recurring financial income | 75 | €833 | €4,393 | +€3,559 | +427% |
| Financial charges | 65/66B | €55 | €43 | -€12 | -22.6% |
| Recurring financial charges | 65 | €55 | €43 | -€12 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €68,473 | -€9,447 | -€77,920 | |
| Income taxes | 67/77 | €19,529 | €506 | -€19,023 | -97.4% |
| Profit (loss) for the period | 9904 | €48,943 | -€9,953 | -€58,896 | |
| Transfer from tax-exempt reserves | 789 | - | €95,000 | +€95,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,943 | €85,047 | +€36,104 | +73.8% |
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 20 October 2026 via checked.be.