Swaenburgh: 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.
Swaenburgh
Largest movements
- Financial fixed assets +€1.4m
up €1.4m (+156%), from €881,364 to €2.3m
- Receivables after one year +€859,710
new in 2025: €859,710
- Cash -€432,272
down €432,272 (-95.7%), from €451,780 to €19,508
mainly Investment in fixed assets (net) (-€1.4m) and Receivables after one year (-€859,710)
- Receivables within one year -€156,097
down €156,097 (-56.8%), from €274,838 to €118,741
of which Other amounts receivable: -€93,542
- Reserves +€1.4m
up €1.4m (+126%), from €1.1m to €2.4m
- Other debts +€270,305
up €270,305 (+1,951%), from €13,852 to €284,157
- Trade debts -€125,560
down €125,560 (-85.2%), from €147,334 to €21,774
- Debts after one year +€114,750
new in 2025: €114,750
- Financial income -€209,116
down €209,116 (-12.9%), from €1.6m to €1.4m
of which Financial income: -€614,090
- Gross operating margin +€13,410
up €13,410, from -€3,823 to €9,587
- Financial charges +€7,946
up €7,946 (+19.1%), from €41,626 to €49,572
of which Non-recurring financial charges: +€34,235
- Taxes +€7,706
new in 2025: €7,706
- Other operating charges -€367
down €367 (-25.2%), from €1,453 to €1,086
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 | €1,609,750 | €3,263,475 | +€1.7m | +103% |
| Fixed assets | 21/28 | €881,364 | €2,253,114 | +€1.4m | +156% |
| Financial fixed assets | 28 | €881,364 | €2,253,114 | +€1.4m | +156% |
| Current assets | 29/58 | €728,386 | €1,010,362 | +€281,975 | +38.7% |
| Amounts receivable after more than one year | 29 | - | €859,710 | +€859,710 | |
| Other amounts receivable | 291 | - | €859,710 | +€859,710 | |
| Amounts receivable within one year | 40/41 | €274,838 | €118,741 | -€156,097 | -56.8% |
| Trade receivables | 40 | €135,755 | €73,200 | -€62,555 | -46.1% |
| Other amounts receivable | 41 | €139,083 | €45,541 | -€93,542 | -67.3% |
| Cash at bank and in hand | 54/58 | €451,780 | €19,508 | -€432,272 | -95.7% |
| Deferred charges and accrued income | 490/1 | €1,768 | €12,403 | +€10,635 | +601% |
| Total equity and liabilities | 10/49 | €1,609,750 | €3,263,475 | +€1.7m | +103% |
| Equity | 10/15 | €1,448,564 | €2,808,426 | +€1.4m | +93.9% |
| Contributions | 10/11 | €366,000 | €366,000 | = | 0.0% |
| Reserves | 13 | €1,082,564 | €2,442,426 | +€1.4m | +126% |
| Distributable reserves | 133 | €1,082,564 | €2,442,426 | +€1.4m | +126% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €161,186 | €455,050 | +€293,863 | +182% |
| Amounts payable after more than one year | 17 | - | €114,750 | +€114,750 | |
| Financial debts | 170/4 | - | €114,750 | +€114,750 | |
| Amounts payable within one year | 42/48 | €161,186 | €337,401 | +€176,214 | +109% |
| Trade debts | 44 | €147,334 | €21,774 | -€125,560 | -85.2% |
| Suppliers | 440/4 | €147,334 | €21,774 | -€125,560 | -85.2% |
| Advances received on contracts in progress | 46 | - | €22,688 | +€22,688 | |
| Taxes, remuneration and social security | 45 | - | €8,782 | +€8,782 | |
| Taxes | 450/3 | - | €8,782 | +€8,782 | |
| Other amounts payable | 47/48 | €13,852 | €284,157 | +€270,305 | +1,951% |
| Accrued charges and deferred income | 492/3 | - | €2,899 | +€2,899 | |
| Other operating charges | 640/8 | €1,453 | €1,086 | -€367 | -25.2% |
| Non-recurring operating charges | 66A | €375,000 | €0 | -€375,000 | -100% |
| Gross operating margin | 9900 | -€3,823 | €9,587 | +€13,410 | |
| Operating profit (loss) | 9901 | -€380,276 | €8,500 | +€388,777 | |
| Financial income | 75/76B | €1,617,756 | €1,408,640 | -€209,116 | -12.9% |
| Recurring financial income | 75 | €1,617,756 | €1,003,667 | -€614,090 | -38.0% |
| Non-recurring financial income | 76B | - | €404,973 | +€404,973 | |
| Financial charges | 65/66B | €41,626 | €49,572 | +€7,946 | +19.1% |
| Recurring financial charges | 65 | €41,626 | €15,337 | -€26,289 | -63.2% |
| Non-recurring financial charges | 66B | - | €34,235 | +€34,235 | |
| Profit (loss) for the period before taxes | 9903 | €1,195,854 | €1,367,568 | +€171,714 | +14.4% |
| Income taxes | 67/77 | - | €7,706 | +€7,706 | |
| Profit (loss) for the period | 9904 | €1,195,854 | €1,359,862 | +€164,008 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,195,854 | €1,359,862 | +€164,008 | +13.7% |
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 26 October 2026 via checked.be.