SW PROPERTIES: 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 PROPERTIES
Largest movements
- Cash -€14,549
down €14,549 (-62.5%), from €23,276 to €8,727
mainly Net result for the year (-€10,532) and Tax, wage and social debts (-€9,876)
- Receivables within one year -€5,001
down €5,001 (-46.5%), from €10,744 to €5,743
of which Trade receivables: -€3,016
- Stocks and contracts +€2,081
new in 2025: €2,081
- Tangible fixed assets -€2,074
down €2,074 (-50.9%), from €4,077 to €2,002
- Profit (loss) carried forward -€10,532
down €10,532 (-32.0%), from €32,865 to €22,332
- Tax, wage and social debts -€9,876
down €9,876 (-80.4%), from €12,287 to €2,411
- Gross operating margin -€32,184
down €32,184, from €24,555 to -€7,629
- Taxes -€5,589
down €5,589 (-97.3%), from €5,745 to €156
- Depreciation -€4,560
down €4,560 (-68.7%), from €6,635 to €2,074
- Other operating charges +€679
up €679 (+64.2%), from €1,057 to €1,736
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 | €85,114 | €64,740 | -€20,373 | -23.9% |
| Fixed assets | 21/28 | €4,077 | €2,002 | -€2,074 | -50.9% |
| Tangible fixed assets | 22/27 | €4,077 | €2,002 | -€2,074 | -50.9% |
| Furniture and vehicles | 24 | €4,077 | €2,002 | -€2,074 | -50.9% |
| Current assets | 29/58 | €81,037 | €62,738 | -€18,299 | -22.6% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €2,081 | +€2,081 | |
| Stocks | 30/36 | - | €2,081 | +€2,081 | |
| Amounts receivable within one year | 40/41 | €10,744 | €5,743 | -€5,001 | -46.5% |
| Trade receivables | 40 | €3,016 | - | -€3,016 | |
| Other amounts receivable | 41 | €7,728 | €5,743 | -€1,985 | -25.7% |
| Cash at bank and in hand | 54/58 | €23,276 | €8,727 | -€14,549 | -62.5% |
| Deferred charges and accrued income | 490/1 | €7,016 | €6,187 | -€830 | -11.8% |
| Total equity and liabilities | 10/49 | €85,114 | €64,740 | -€20,373 | -23.9% |
| Equity | 10/15 | €69,960 | €59,427 | -€10,532 | -15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,495 | €18,495 | = | 0.0% |
| Distributable reserves | 133 | €18,495 | €18,495 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,865 | €22,332 | -€10,532 | -32.0% |
| Amounts payable | 17/49 | €15,154 | €5,313 | -€9,841 | -64.9% |
| Amounts payable within one year | 42/48 | €15,154 | €5,313 | -€9,841 | -64.9% |
| Trade debts | 44 | €367 | €401 | +€35 | +9.5% |
| Suppliers | 440/4 | €367 | €401 | +€35 | +9.5% |
| Taxes, remuneration and social security | 45 | €12,287 | €2,411 | -€9,876 | -80.4% |
| Taxes | 450/3 | €12,287 | €2,411 | -€9,876 | -80.4% |
| Other amounts payable | 47/48 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,635 | €2,074 | -€4,560 | -68.7% |
| Other operating charges | 640/8 | €1,057 | €1,736 | +€679 | +64.2% |
| Gross operating margin | 9900 | €24,555 | -€7,629 | -€32,184 | |
| Operating profit (loss) | 9901 | €16,863 | -€11,439 | -€28,302 | |
| Financial income | 75/76B | €1,467 | €1,417 | -€50 | -3.4% |
| Recurring financial income | 75 | €1,467 | €1,417 | -€50 | -3.4% |
| Financial charges | 65/66B | €142 | €354 | +€213 | +150.2% |
| Recurring financial charges | 65 | €142 | €354 | +€213 | +150.2% |
| Profit (loss) for the period before taxes | 9903 | €18,189 | -€10,377 | -€28,565 | |
| Income taxes | 67/77 | €5,745 | €156 | -€5,589 | -97.3% |
| Profit (loss) for the period | 9904 | €12,444 | -€10,532 | -€22,976 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,444 | -€10,532 | -€22,976 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.