SWALAA: 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.
SWALAA
Largest movements
- Cash +€149,765
up €149,765 (+103.5%), from €144,707 to €294,473
mainly Trade debts (+€284,986) and Net result for the year (+€53,391)
- Receivables within one year +€89,177
up €89,177 (+405.8%), from €21,978 to €111,155
of which Trade receivables: +€61,211
- Trade debts +€284,986
up €284,986 (+1111.5%), from €25,641 to €310,627
- Other debts -€62,389
down €62,389 (-69.3%), from €90,048 to €27,660
- Profit (loss) carried forward +€25,891
up €25,891 (+85.0%), from €30,464 to €56,355
- Tax, wage and social debts -€12,795
down €12,795 (-55.1%), from €23,235 to €10,440
of which Taxes: -€7,960
- Gross operating margin -€71,079
down €71,079 (-36.1%), from €196,816 to €125,737
- Taxes -€24,358
down €24,358 (-61.2%), from €39,776 to €15,419
- Financial charges +€22,991
up €22,991 (+71.1%), from €32,357 to €55,348
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 | €177,448 | €413,150 | +€235,702 | +132.8% |
| Fixed assets | 21/28 | €5,256 | €5,929 | +€673 | +12.8% |
| Tangible fixed assets | 22/27 | €5,256 | €5,929 | +€673 | +12.8% |
| Furniture and vehicles | 24 | €5,256 | €5,929 | +€673 | +12.8% |
| Current assets | 29/58 | €172,192 | €407,221 | +€235,029 | +136.5% |
| Amounts receivable within one year | 40/41 | €21,978 | €111,155 | +€89,177 | +405.8% |
| Trade receivables | 40 | €18,216 | €79,427 | +€61,211 | +336.0% |
| Other amounts receivable | 41 | €3,762 | €31,728 | +€27,967 | +743.5% |
| Cash at bank and in hand | 54/58 | €144,707 | €294,473 | +€149,765 | +103.5% |
| Deferred charges and accrued income | 490/1 | €5,506 | €1,593 | -€3,913 | -71.1% |
| Total equity and liabilities | 10/49 | €177,448 | €413,150 | +€235,702 | +132.8% |
| Equity | 10/15 | €38,524 | €64,415 | +€25,891 | +67.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,464 | €56,355 | +€25,891 | +85.0% |
| Amounts payable | 17/49 | €138,924 | €348,736 | +€209,812 | +151.0% |
| Amounts payable within one year | 42/48 | €138,924 | €348,727 | +€209,803 | +151.0% |
| Trade debts | 44 | €25,641 | €310,627 | +€284,986 | +1111.5% |
| Suppliers | 440/4 | €25,641 | €310,627 | +€284,986 | +1111.5% |
| Taxes, remuneration and social security | 45 | €23,235 | €10,440 | -€12,795 | -55.1% |
| Taxes | 450/3 | €18,400 | €10,440 | -€7,960 | -43.3% |
| Remuneration and social security | 454/9 | €4,835 | - | -€4,835 | |
| Other amounts payable | 47/48 | €90,048 | €27,660 | -€62,389 | -69.3% |
| Accrued charges and deferred income | 492/3 | - | €9 | +€9 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €914 | €1,301 | +€386 | +42.2% |
| Other operating charges | 640/8 | €1,541 | €286 | -€1,255 | -81.4% |
| Gross operating margin | 9900 | €196,816 | €125,737 | -€71,079 | -36.1% |
| Operating profit (loss) | 9901 | €194,361 | €124,151 | -€70,210 | -36.1% |
| Financial income | 75/76B | €644 | €6 | -€638 | -99.1% |
| Recurring financial income | 75 | €644 | €6 | -€638 | -99.1% |
| Financial charges | 65/66B | €32,357 | €55,348 | +€22,991 | +71.1% |
| Recurring financial charges | 65 | €32,357 | €55,348 | +€22,991 | +71.1% |
| Profit (loss) for the period before taxes | 9903 | €162,648 | €68,809 | -€93,838 | -57.7% |
| Income taxes | 67/77 | €39,776 | €15,419 | -€24,358 | -61.2% |
| Profit (loss) for the period | 9904 | €122,871 | €53,391 | -€69,481 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €122,871 | €53,391 | -€69,481 | -56.5% |
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 8 October 2026 via checked.be.