SW-PROJECTS: 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-PROJECTS
Largest movements
- Receivables within one year +€24,922
up €24,922 (+25.3%), from €98,603 to €123,526
of which Other amounts receivable: +€15,485
- Tangible fixed assets -€2,968
down €2,968 (-43.0%), from €6,905 to €3,937
of which Furniture and vehicles: -€3,433
- Trade debts +€12,108
up €12,108 (+31.5%), from €38,476 to €50,584
- Profit (loss) carried forward +€11,051
up €11,051 (+47.4%), from €23,300 to €34,352
- Gross operating margin +€8,628
up €8,628 (+76.9%), from €11,221 to €19,849
- Taxes +€2,132
up €2,132 (+131%), from €1,624 to €3,756
- Financial charges -€1,316
down €1,316 (-28.3%), from €4,656 to €3,340
- Financial income +€480
up €480 (+22.6%), from €2,120 to €2,600
- Depreciation +€421
up €421 (+11.2%), from €3,769 to €4,190
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 | €118,800 | €143,260 | +€24,460 | +20.6% |
| Fixed assets | 21/28 | €6,905 | €3,937 | -€2,968 | -43.0% |
| Tangible fixed assets | 22/27 | €6,905 | €3,937 | -€2,968 | -43.0% |
| Plant, machinery and equipment | 23 | €1,017 | €1,483 | +€466 | +45.8% |
| Furniture and vehicles | 24 | €5,888 | €2,454 | -€3,433 | -58.3% |
| Current assets | 29/58 | €111,895 | €139,322 | +€27,427 | +24.5% |
| Amounts receivable within one year | 40/41 | €98,603 | €123,526 | +€24,922 | +25.3% |
| Trade receivables | 40 | €57,054 | €66,492 | +€9,437 | +16.5% |
| Other amounts receivable | 41 | €41,549 | €57,034 | +€15,485 | +37.3% |
| Cash at bank and in hand | 54/58 | €12,723 | €13,948 | +€1,226 | +9.6% |
| Deferred charges and accrued income | 490/1 | €569 | €1,848 | +€1,279 | +225% |
| Total equity and liabilities | 10/49 | €118,800 | €143,260 | +€24,460 | +20.6% |
| Equity | 10/15 | €36,085 | €47,137 | +€11,051 | +30.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €385 | €385 | = | 0.0% |
| Distributable reserves | 133 | €385 | €385 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,300 | €34,352 | +€11,051 | +47.4% |
| Amounts payable | 17/49 | €82,715 | €96,123 | +€13,408 | +16.2% |
| Amounts payable within one year | 42/48 | €82,715 | €96,123 | +€13,408 | +16.2% |
| Trade debts | 44 | €38,476 | €50,584 | +€12,108 | +31.5% |
| Suppliers | 440/4 | €38,476 | €50,584 | +€12,108 | +31.5% |
| Advances received on contracts in progress | 46 | €38,991 | €39,994 | +€1,004 | +2.6% |
| Taxes, remuneration and social security | 45 | €5,248 | €5,545 | +€297 | +5.7% |
| Taxes | 450/3 | €5,248 | €5,545 | +€297 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,769 | €4,190 | +€421 | +11.2% |
| Other operating charges | 640/8 | €241 | €111 | -€130 | -54.0% |
| Gross operating margin | 9900 | €11,221 | €19,849 | +€8,628 | +76.9% |
| Operating profit (loss) | 9901 | €7,211 | €15,548 | +€8,337 | +116% |
| Financial income | 75/76B | €2,120 | €2,600 | +€480 | +22.6% |
| Recurring financial income | 75 | €2,120 | €2,600 | +€480 | +22.6% |
| Financial charges | 65/66B | €4,656 | €3,340 | -€1,316 | -28.3% |
| Recurring financial charges | 65 | €4,656 | €3,340 | -€1,316 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €4,675 | €14,808 | +€10,132 | +217% |
| Income taxes | 67/77 | €1,624 | €3,756 | +€2,132 | +131% |
| Profit (loss) for the period | 9904 | €3,051 | €11,051 | +€8,000 | +262% |
| Profit (loss) for the period to be appropriated | 9905 | €3,051 | €11,051 | +€8,000 | +262% |
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 14 October 2026 via checked.be.