SWAN-C: 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.
SWAN-C
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts -€7,168
down €7,168 (-19.5%), from €36,776 to €29,608
- Profit (loss) carried forward +€6,455
up €6,455 (+16.9%), from €38,142 to €44,597
- Gross operating margin -€26,838
down €26,838 (-69.4%), from €38,690 to €11,853
- Taxes -€6,225
down €6,225 (-73.4%), from €8,478 to €2,253
- Depreciation -€2,159
down €2,159 (-54.4%), from €3,969 to €1,810
- Financial charges +€575
new in 2021: €575
- Other operating charges +€521
new in 2021: €521
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €91,977 | €91,265 | -€712 | -0.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €33,557 | €22,534 | -€11,024 | -32.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €33,557 | €22,534 | -€11,024 | -32.8% |
| Land and buildings | 22 | - | €20,398 | +€20,398 | |
| Plant, machinery and equipment | 23 | - | €1,458 | +€1,458 | |
| Furniture and vehicles | 24 | - | €678 | +€678 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €65,023 | €68,731 | +€3,708 | +5.7% |
| Stocks and contracts in progress | 3 | €27,992 | - | -€27,992 | |
| Amounts receivable within one year | 40/41 | €43,160 | €31,502 | -€11,658 | -27.0% |
| Trade receivables | 40 | - | €31,502 | +€31,502 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €30,829 | €27,472 | -€3,357 | -10.9% |
| Deferred charges and accrued income | 490/1 | - | €9,758 | +€9,758 | |
| Total equity and liabilities | 10/49 | €91,977 | €91,265 | -€712 | -0.8% |
| Equity | 10/15 | €55,202 | €61,657 | +€6,455 | +11.7% |
| 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 | €10,860 | €10,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | - | €9,000 | +€9,000 | |
| Profit (loss) carried forward | 14 | €38,142 | €44,597 | +€6,455 | +16.9% |
| Amounts payable | 17/49 | €36,776 | €29,608 | -€7,168 | -19.5% |
| Amounts payable within one year | 42/48 | €36,428 | €29,608 | -€6,820 | -18.7% |
| Trade debts | 44 | €22,217 | €8,456 | -€13,761 | -61.9% |
| Suppliers | 440/4 | - | €8,456 | +€8,456 | |
| Taxes, remuneration and social security | 45 | - | €11,433 | +€11,433 | |
| Taxes | 450/3 | - | €8,433 | +€8,433 | |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | - | €9,719 | +€9,719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,969 | €1,810 | -€2,159 | -54.4% |
| Other operating charges | 640/8 | - | €521 | +€521 | |
| Non-recurring operating charges | 66A | - | €238 | +€238 | |
| Gross operating margin | 9900 | €38,690 | €11,853 | -€26,838 | -69.4% |
| Operating profit (loss) | 9901 | €33,945 | €9,284 | -€24,661 | -72.7% |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | - | €575 | +€575 | |
| Recurring financial charges | 65 | €1,853 | €575 | -€1,278 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €32,092 | €8,709 | -€23,383 | -72.9% |
| Income taxes | 67/77 | €8,478 | €2,253 | -€6,225 | -73.4% |
| Profit (loss) for the period | 9904 | €23,614 | €6,455 | -€17,158 | -72.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,614 | €6,455 | -€17,158 | -72.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2020 and 30 September 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.