SWANSTAR: 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.
SWANSTAR
Largest movements
- Cash +€69,076
up €69,076 (+246.7%), from €27,995 to €97,071
mainly Other debts (+€45,567) and Net result for the year (+€25,338)
- Other debts +€45,567
up €45,567 (+21.5%), from €211,581 to €257,147
- Profit (loss) carried forward +€25,338
up €25,338 (+5.3%), from -€476,146 to -€450,808
- Financial income +€41,110
up €41,110 (+41.6%), from €98,730 to €139,840
- Financial charges -€39,809
down €39,809 (-99.0%), from €40,200 to €391
of which Non-recurring financial charges: -€39,867
- Taxes +€9,406
up €9,406 (+326.9%), from €2,877 to €12,283
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 | €1,769,535 | €1,845,721 | +€76,186 | +4.3% |
| Fixed assets | 21/28 | €1,727,500 | €1,727,500 | = | 0.0% |
| Financial fixed assets | 28 | €1,727,500 | €1,727,500 | = | 0.0% |
| Current assets | 29/58 | €42,035 | €118,221 | +€76,186 | +181.2% |
| Cash at bank and in hand | 54/58 | €27,995 | €97,071 | +€69,076 | +246.7% |
| Deferred charges and accrued income | 490/1 | €14,040 | €21,150 | +€7,110 | +50.6% |
| Total equity and liabilities | 10/49 | €1,769,535 | €1,845,721 | +€76,186 | +4.3% |
| Equity | 10/15 | -€455,686 | -€430,348 | +€25,338 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€476,146 | -€450,808 | +€25,338 | +5.3% |
| Amounts payable | 17/49 | €2,225,221 | €2,276,070 | +€50,849 | +2.3% |
| Amounts payable after more than one year | 17 | €2,000,000 | €2,000,000 | = | 0.0% |
| Other amounts payable | 178/9 | €2,000,000 | €2,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €225,221 | €276,070 | +€50,849 | +22.6% |
| Taxes, remuneration and social security | 45 | €13,640 | €18,922 | +€5,282 | +38.7% |
| Taxes | 450/3 | €9,640 | €18,922 | +€9,282 | +96.3% |
| Remuneration and social security | 454/9 | €4,000 | - | -€4,000 | |
| Other amounts payable | 47/48 | €211,581 | €257,147 | +€45,567 | +21.5% |
| Other operating charges | 640/8 | €1,095 | €1,023 | -€72 | -6.6% |
| Gross operating margin | 9900 | -€100,245 | -€100,805 | -€560 | -0.6% |
| Operating profit (loss) | 9901 | -€101,340 | -€101,828 | -€488 | -0.5% |
| Financial income | 75/76B | €98,730 | €139,840 | +€41,110 | +41.6% |
| Recurring financial income | 75 | €98,730 | €139,840 | +€41,110 | +41.6% |
| Financial charges | 65/66B | €40,200 | €391 | -€39,809 | -99.0% |
| Recurring financial charges | 65 | €333 | €391 | +€58 | +17.4% |
| Non-recurring financial charges | 66B | €39,867 | - | -€39,867 | |
| Profit (loss) for the period before taxes | 9903 | -€42,810 | €37,621 | +€80,431 | |
| Income taxes | 67/77 | €2,877 | €12,283 | +€9,406 | +326.9% |
| Profit (loss) for the period | 9904 | -€45,687 | €25,338 | +€71,025 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,687 | €25,338 | +€71,025 |
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.