SW EXPERTISE: 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 EXPERTISE
Largest movements
- Cash +€23,536
up €23,536 (+121%), from €19,400 to €42,936
mainly Tax, wage and social debts (+€17,327) and Net result for the year (+€8,534)
- Tangible fixed assets +€1,945
up €1,945 (+102%), from €1,903 to €3,847
- Receivables within one year -€1,637
down €1,637 (-2.1%), from €77,752 to €76,115
of which Trade receivables: -€5,901
- Tax, wage and social debts +€17,327
up €17,327 (+78.0%), from €22,218 to €39,545
of which Taxes: +€12,766
- Reserves +€8,534
up €8,534 (+13.2%), from €64,761 to €73,294
- Trade debts -€2,017
down €2,017 (-33.2%), from €6,076 to €4,059
- Gross operating margin -€68,060
down €68,060 (-82.1%), from €82,878 to €14,817
- Taxes -€14,158
down €14,158 (-81.0%), from €17,471 to €3,313
- Depreciation +€1,362
up €1,362 (+353%), from €385 to €1,747
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 | €99,055 | €122,898 | +€23,844 | +24.1% |
| Fixed assets | 21/28 | €1,903 | €3,847 | +€1,945 | +102% |
| Tangible fixed assets | 22/27 | €1,903 | €3,847 | +€1,945 | +102% |
| Plant, machinery and equipment | 23 | €1,903 | €3,847 | +€1,945 | +102% |
| Current assets | 29/58 | €97,152 | €119,051 | +€21,899 | +22.5% |
| Amounts receivable within one year | 40/41 | €77,752 | €76,115 | -€1,637 | -2.1% |
| Trade receivables | 40 | €23,228 | €17,328 | -€5,901 | -25.4% |
| Other amounts receivable | 41 | €54,524 | €58,787 | +€4,263 | +7.8% |
| Cash at bank and in hand | 54/58 | €19,400 | €42,936 | +€23,536 | +121% |
| Total equity and liabilities | 10/49 | €99,055 | €122,898 | +€23,844 | +24.1% |
| Equity | 10/15 | €70,761 | €79,294 | +€8,534 | +12.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €64,761 | €73,294 | +€8,534 | +13.2% |
| Distributable reserves | 133 | €64,761 | €73,294 | +€8,534 | +13.2% |
| Amounts payable | 17/49 | €28,294 | €43,604 | +€15,310 | +54.1% |
| Amounts payable within one year | 42/48 | €28,294 | €43,604 | +€15,310 | +54.1% |
| Trade debts | 44 | €6,076 | €4,059 | -€2,017 | -33.2% |
| Suppliers | 440/4 | €6,076 | €4,059 | -€2,017 | -33.2% |
| Taxes, remuneration and social security | 45 | €22,218 | €39,545 | +€17,327 | +78.0% |
| Taxes | 450/3 | €22,218 | €34,984 | +€12,766 | +57.5% |
| Remuneration and social security | 454/9 | - | €4,562 | +€4,562 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €1,747 | +€1,362 | +353% |
| Other operating charges | 640/8 | €898 | €1,289 | +€391 | +43.5% |
| Gross operating margin | 9900 | €82,878 | €14,817 | -€68,060 | -82.1% |
| Operating profit (loss) | 9901 | €81,594 | €11,781 | -€69,813 | -85.6% |
| Financial income | 75/76B | €2,790 | €2,961 | +€171 | +6.1% |
| Recurring financial income | 75 | €2,790 | €2,961 | +€171 | +6.1% |
| Financial charges | 65/66B | €2,152 | €2,895 | +€742 | +34.5% |
| Recurring financial charges | 65 | €2,152 | €2,895 | +€742 | +34.5% |
| Profit (loss) for the period before taxes | 9903 | €82,232 | €11,847 | -€70,385 | -85.6% |
| Income taxes | 67/77 | €17,471 | €3,313 | -€14,158 | -81.0% |
| Profit (loss) for the period | 9904 | €64,761 | €8,534 | -€56,227 | -86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €64,761 | €8,534 | -€56,227 | -86.8% |
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 19 October 2026 via checked.be.