SWALUW: 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.
SWALUW
Largest movements
- Tangible fixed assets -€909
down €909 (-45.5%), from €1,999 to €1,090
of which Plant, machinery and equipment: -€613
- Deferred charges and accrued income +€338
up €338, from €0 to €338
- Receivables within one year -€225
down €225 (-20.0%), from €1,125 to €900
of which Trade receivables: -€792
- Profit (loss) carried forward -€3,870
down €3,870 (-27.6%), from -€14,020 to -€17,891
- Trade debts +€1,933
up €1,933 (+94.7%), from €2,041 to €3,974
- Other debts +€1,198
up €1,198 (+10.1%), from €11,898 to €13,096
- Tax, wage and social debts -€85
down €85 (-36.2%), from €234 to €149
- Gross operating margin +€4,365
up €4,365 (+67.0%), from -€6,515 to -€2,150
- Depreciation -€420
down €420 (-31.6%), from €1,329 to €909
- Financial charges -€255
down €255 (-42.9%), from €595 to €340
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 | €3,152 | €2,328 | -€824 | -26.1% |
| Fixed assets | 21/28 | €1,999 | €1,090 | -€909 | -45.5% |
| Tangible fixed assets | 22/27 | €1,999 | €1,090 | -€909 | -45.5% |
| Plant, machinery and equipment | 23 | €1,703 | €1,090 | -€613 | -36.0% |
| Furniture and vehicles | 24 | €296 | €0 | -€296 | -100% |
| Current assets | 29/58 | €1,152 | €1,238 | +€85 | +7.4% |
| Amounts receivable within one year | 40/41 | €1,125 | €900 | -€225 | -20.0% |
| Trade receivables | 40 | €942 | €150 | -€792 | -84.1% |
| Other amounts receivable | 41 | €183 | €750 | +€567 | +310% |
| Cash at bank and in hand | 54/58 | €28 | €0 | -€28 | -100% |
| Deferred charges and accrued income | 490/1 | €0 | €338 | +€338 | |
| Total equity and liabilities | 10/49 | €3,152 | €2,328 | -€824 | -26.1% |
| Equity | 10/15 | -€11,020 | -€14,891 | -€3,870 | -35.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,020 | -€17,891 | -€3,870 | -27.6% |
| Amounts payable | 17/49 | €14,172 | €17,219 | +€3,047 | +21.5% |
| Amounts payable within one year | 42/48 | €14,172 | €17,219 | +€3,047 | +21.5% |
| Trade debts | 44 | €2,041 | €3,974 | +€1,933 | +94.7% |
| Suppliers | 440/4 | €2,041 | €3,974 | +€1,933 | +94.7% |
| Taxes, remuneration and social security | 45 | €234 | €149 | -€85 | -36.2% |
| Taxes | 450/3 | €234 | €149 | -€85 | -36.2% |
| Other amounts payable | 47/48 | €11,898 | €13,096 | +€1,198 | +10.1% |
| Non-recurring operating income | 76A | €8,237 | €0 | -€8,237 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,329 | €909 | -€420 | -31.6% |
| Other operating charges | 640/8 | €452 | €400 | -€52 | -11.6% |
| Non-recurring operating charges | 66A | €379 | €0 | -€379 | -100% |
| Gross operating margin | 9900 | -€6,515 | -€2,150 | +€4,365 | +67.0% |
| Operating profit (loss) | 9901 | -€8,676 | -€3,459 | +€5,217 | +60.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €595 | €340 | -€255 | -42.9% |
| Recurring financial charges | 65 | €595 | €340 | -€255 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,271 | -€3,799 | +€5,472 | +59.0% |
| Income taxes | 67/77 | €78 | €71 | -€7 | -8.7% |
| Profit (loss) for the period | 9904 | -€9,349 | -€3,870 | +€5,478 | +58.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,349 | -€3,870 | +€5,478 | +58.6% |
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 30 October 2026 via checked.be.