SW SERVICES: 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.
SW SERVICES
Largest movements
- Tangible fixed assets +€57,964
up €57,964 (+103.6%), from €55,966 to €113,930
of which Furniture and vehicles: +€58,671
- Receivables within one year -€38,811
down €38,811 (-9.7%), from €399,553 to €360,743
of which Other amounts receivable: -€44,898
- Deferred charges and accrued income +€25,667
up €25,667 (+21.6%), from €118,992 to €144,658
- Cash -€12,115
down €12,115 (-80.3%), from €15,094 to €2,979
mainly Investment in fixed assets (net) (-€78,778) and Net result for the year (-€45,983)
- Profit (loss) carried forward -€45,983
new in 2025: -€45,983
- Debts after one year +€38,060
up €38,060 (+105.1%), from €36,212 to €74,271
- Current portion of long-term debt +€28,671
up €28,671 (+74.0%), from €38,751 to €67,423
- Tax, wage and social debts +€10,277
up €10,277 (+3.5%), from €289,952 to €300,230
of which Remuneration and social security: +€17,458
- Staff costs +€223,565
up €223,565 (+14.5%), from €1.5m to €1.8m
- Gross operating margin +€157,784
up €157,784 (+9.9%), from €1.6m to €1.8m
- Taxes -€17,672
down €17,672 (-98.2%), from €17,996 to €323
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 | €591,202 | €625,094 | +€33,892 | +5.7% |
| Fixed assets | 21/28 | €57,563 | €116,714 | +€59,151 | +102.8% |
| Intangible fixed assets | 21 | €1,597 | €2,784 | +€1,187 | +74.3% |
| Tangible fixed assets | 22/27 | €55,966 | €113,930 | +€57,964 | +103.6% |
| Plant, machinery and equipment | 23 | €3,360 | €2,653 | -€707 | -21.0% |
| Furniture and vehicles | 24 | €52,605 | €111,277 | +€58,671 | +111.5% |
| Current assets | 29/58 | €533,639 | €508,380 | -€25,259 | -4.7% |
| Amounts receivable within one year | 40/41 | €399,553 | €360,743 | -€38,811 | -9.7% |
| Trade receivables | 40 | €0 | €6,088 | +€6,088 | |
| Other amounts receivable | 41 | €399,553 | €354,655 | -€44,898 | -11.2% |
| Cash at bank and in hand | 54/58 | €15,094 | €2,979 | -€12,115 | -80.3% |
| Deferred charges and accrued income | 490/1 | €118,992 | €144,658 | +€25,667 | +21.6% |
| Total equity and liabilities | 10/49 | €591,202 | €625,094 | +€33,892 | +5.7% |
| Equity | 10/15 | €199,793 | €153,809 | -€45,983 | -23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €181,193 | €181,193 | = | 0.0% |
| Distributable reserves | 133 | €181,193 | €181,193 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€45,983 | -€45,983 | |
| Amounts payable | 17/49 | €391,410 | €471,285 | +€79,875 | +20.4% |
| Amounts payable after more than one year | 17 | €36,212 | €74,271 | +€38,060 | +105.1% |
| Financial debts | 170/4 | €36,212 | €74,271 | +€38,060 | +105.1% |
| Amounts payable within one year | 42/48 | €349,254 | €392,286 | +€43,032 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €38,751 | €67,423 | +€28,671 | +74.0% |
| Trade debts | 44 | €19,387 | €24,612 | +€5,224 | +26.9% |
| Suppliers | 440/4 | €19,387 | €24,612 | +€5,224 | +26.9% |
| Taxes, remuneration and social security | 45 | €289,952 | €300,230 | +€10,277 | +3.5% |
| Taxes | 450/3 | €20,665 | €13,485 | -€7,180 | -34.7% |
| Remuneration and social security | 454/9 | €269,287 | €286,745 | +€17,458 | +6.5% |
| Other amounts payable | 47/48 | €1,164 | €22 | -€1,142 | -98.1% |
| Accrued charges and deferred income | 492/3 | €5,944 | €4,728 | -€1,216 | -20.5% |
| Remuneration, social security and pensions | 62 | €1,546,024 | €1,769,588 | +€223,565 | +14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,501 | €19,628 | +€17,127 | +684.9% |
| Other operating charges | 640/8 | €848 | €4,265 | +€3,417 | +402.8% |
| Gross operating margin | 9900 | €1,596,390 | €1,754,174 | +€157,784 | +9.9% |
| Operating profit (loss) | 9901 | €47,017 | -€39,307 | -€86,324 | |
| Financial income | 75/76B | €813 | €1,174 | +€361 | +44.4% |
| Recurring financial income | 75 | €813 | €1,174 | +€361 | +44.4% |
| Financial charges | 65/66B | €6,560 | €7,527 | +€968 | +14.8% |
| Recurring financial charges | 65 | €6,560 | €7,527 | +€968 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €41,270 | -€45,660 | -€86,931 | |
| Income taxes | 67/77 | €17,996 | €323 | -€17,672 | -98.2% |
| Profit (loss) for the period | 9904 | €23,275 | -€45,983 | -€69,258 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,275 | -€45,983 | -€69,258 |
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 5 October 2026 via checked.be.