SWALLOW SQUARE: 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.
SWALLOW SQUARE
Largest movements
- Cash -€31,707
down €31,707 (-93.4%), from €33,938 to €2,231
mainly Contributions, distributions and other (-€37,564) and Receivables within one year (-€26,923)
- Receivables within one year +€26,923
up €26,923 (+157%), from €17,122 to €44,044
of which Trade receivables: +€26,923
- Tangible fixed assets -€10,675
down €10,675 (-30.7%), from €34,806 to €24,132
of which Furniture and vehicles: -€10,593
- Reserves -€37,564
down €37,564 (-95.3%), from €39,419 to €1,855
- Other debts +€20,386
up €20,386 (+95.3%), from €21,402 to €41,789
- Debts after one year -€6,802
down €6,802 (-43.3%), from €15,721 to €8,918
- Tax, wage and social debts +€6,320
up €6,320 (+65.6%), from €9,634 to €15,955
of which Remuneration and social security: +€4,600
- Profit (loss) carried forward +€2,081
up €2,081 (+10.8%), from -€19,290 to -€17,210
- Gross operating margin -€14,146
down €14,146 (-48.7%), from €29,024 to €14,878
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 | €89,385 | €73,914 | -€15,471 | -17.3% |
| Fixed assets | 21/28 | €37,844 | €27,170 | -€10,675 | -28.2% |
| Tangible fixed assets | 22/27 | €34,806 | €24,132 | -€10,675 | -30.7% |
| Plant, machinery and equipment | 23 | €733 | €652 | -€81 | -11.1% |
| Furniture and vehicles | 24 | €34,073 | €23,480 | -€10,593 | -31.1% |
| Financial fixed assets | 28 | €3,038 | €3,038 | = | 0.0% |
| Current assets | 29/58 | €51,541 | €46,745 | -€4,796 | -9.3% |
| Amounts receivable within one year | 40/41 | €17,122 | €44,044 | +€26,923 | +157% |
| Trade receivables | 40 | €17,122 | €44,044 | +€26,923 | +157% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €33,938 | €2,231 | -€31,707 | -93.4% |
| Deferred charges and accrued income | 490/1 | €481 | €469 | -€12 | -2.4% |
| Total equity and liabilities | 10/49 | €89,385 | €73,914 | -€15,471 | -17.3% |
| Equity | 10/15 | €32,529 | -€2,955 | -€35,484 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €39,419 | €1,855 | -€37,564 | -95.3% |
| Distributable reserves | 133 | €39,419 | €1,855 | -€37,564 | -95.3% |
| Profit (loss) carried forward | 14 | -€19,290 | -€17,210 | +€2,081 | +10.8% |
| Amounts payable | 17/49 | €56,856 | €76,869 | +€20,013 | +35.2% |
| Amounts payable after more than one year | 17 | €15,721 | €8,918 | -€6,802 | -43.3% |
| Financial debts | 170/4 | €15,721 | €8,918 | -€6,802 | -43.3% |
| Amounts payable within one year | 42/48 | €41,136 | €67,951 | +€26,815 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | €6,520 | €6,802 | +€282 | +4.3% |
| Trade debts | 44 | €3,578 | €3,405 | -€173 | -4.8% |
| Suppliers | 440/4 | €3,578 | €3,405 | -€173 | -4.8% |
| Taxes, remuneration and social security | 45 | €9,634 | €15,955 | +€6,320 | +65.6% |
| Taxes | 450/3 | €9,634 | €11,355 | +€1,720 | +17.9% |
| Remuneration and social security | 454/9 | €0 | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €21,402 | €41,789 | +€20,386 | +95.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,671 | €10,675 | +€3 | 0.0% |
| Other operating charges | 640/8 | €894 | €928 | +€34 | +3.8% |
| Gross operating margin | 9900 | €29,024 | €14,878 | -€14,146 | -48.7% |
| Operating profit (loss) | 9901 | €17,458 | €3,276 | -€14,183 | -81.2% |
| Financial charges | 65/66B | €1,317 | €1,060 | -€257 | -19.5% |
| Recurring financial charges | 65 | €1,317 | €1,060 | -€257 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €16,141 | €2,216 | -€13,926 | -86.3% |
| Income taxes | 67/77 | €157 | €135 | -€22 | -14.0% |
| Profit (loss) for the period | 9904 | €15,984 | €2,081 | -€13,904 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,984 | €2,081 | -€13,904 | -87.0% |
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 20 October 2026 via checked.be.