SWAPET NV: 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.
What changed
SWAPET NV
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€133,042
2024 · €148,649-€15,607
Equity
€1.9m
2024 · €1.8m+€133,042
Cash
€18,821
2024 · €12,883+€5,938
Balance sheet total
€2.1m
2024 · €2.1m+€83,424
Largest movements
Assets
- Receivables within one year +€72,023
up €72,023 (+15.1%), from €478,527 to €550,550
of which Other amounts receivable: +€50,229
Equity and liabilities
- Profit (loss) carried forward +€133,042
up €133,042 (+7.9%), from €1.7m to €1.8m
- Trade debts -€39,521
down €39,521 (-37.7%), from €104,765 to €65,245
Income statement
- Financial income -€25,467
down €25,467 (-33.5%), from €76,128 to €50,661
of which Non-recurring financial income: -€27,572
- Taxes -€9,441
down €9,441 (-18.2%), from €51,818 to €42,377
- Gross operating margin -€7,151
down €7,151 (-4.5%), from €158,906 to €151,755
- Other operating charges -€5,929
down €5,929 (-52.0%), from €11,391 to €5,462
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.
Result 2024
€148,649
Gross operating margin
-€7,151
Depreciation
+€620
Other operating charges
+€5,929
Financial income
-€25,467
Financial charges
+€1,022
Taxes
+€9,441
Result 2025
€133,042
raises the resultlowers the result
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.
From operations
+€31,204
Investment
-€17,388
Financing
-€7,878
Cash 2024
€12,883
From operations (derived)
+€31,204
Net result for the year
+€133,042
Depreciation
+€11,999
Receivables within one year
-€72,023
Deferred charges and accrued income
-€74
Trade debts
-€39,521
Tax, wage and social debts
-€2,220
Investment (derived)
-€17,388
Investment in fixed assets (net)
-€17,388
Financing
-€7,878
Debts after one year
-€8,469
Current portion of long-term debt
+€591
Cash 2025
€18,821
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,053,215 | €2,136,638 | +€83,424 | +4.1% |
| Fixed assets | 21/28 | €204,756 | €210,145 | +€5,389 | +2.6% |
| Tangible fixed assets | 22/27 | €203,896 | €209,285 | +€5,389 | +2.6% |
| Land and buildings | 22 | €197,445 | €186,527 | -€10,918 | -5.5% |
| Plant, machinery and equipment | 23 | €201 | €2,658 | +€2,458 | +1,223% |
| Furniture and vehicles | 24 | €1,292 | €15,141 | +€13,849 | +1,072% |
| Other tangible fixed assets | 26 | €4,958 | €4,958 | = | 0.0% |
| Financial fixed assets | 28 | €860 | €860 | = | 0.0% |
| Current assets | 29/58 | €1,848,459 | €1,926,493 | +€78,035 | +4.2% |
| Amounts receivable after more than one year | 29 | €1,355,000 | €1,355,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,355,000 | €1,355,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €478,527 | €550,550 | +€72,023 | +15.1% |
| Trade receivables | 40 | €120,484 | €142,278 | +€21,794 | +18.1% |
| Other amounts receivable | 41 | €358,043 | €408,271 | +€50,229 | +14.0% |
| Cash at bank and in hand | 54/58 | €12,883 | €18,821 | +€5,938 | +46.1% |
| Deferred charges and accrued income | 490/1 | €2,049 | €2,122 | +€74 | +3.6% |
| Total equity and liabilities | 10/49 | €2,053,215 | €2,136,638 | +€83,424 | +4.1% |
| Equity | 10/15 | €1,772,549 | €1,905,591 | +€133,042 | +7.5% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Capital | 10 | €86,763 | €86,763 | = | 0.0% |
| Issued capital | 100 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €8,676 | €8,676 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,676 | €8,676 | = | 0.0% |
| Legal reserve | 130 | €8,676 | €8,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,677,110 | €1,810,152 | +€133,042 | +7.9% |
| Amounts payable | 17/49 | €280,666 | €231,048 | -€49,618 | -17.7% |
| Amounts payable after more than one year | 17 | €121,213 | €112,744 | -€8,469 | -7.0% |
| Financial debts | 170/4 | €121,213 | €112,744 | -€8,469 | -7.0% |
| Amounts payable within one year | 42/48 | €159,453 | €118,304 | -€41,150 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €7,878 | €8,469 | +€591 | +7.5% |
| Trade debts | 44 | €104,765 | €65,245 | -€39,521 | -37.7% |
| Suppliers | 440/4 | €104,765 | €65,245 | -€39,521 | -37.7% |
| Taxes, remuneration and social security | 45 | €46,810 | €44,590 | -€2,220 | -4.7% |
| Taxes | 450/3 | €46,810 | €44,590 | -€2,220 | -4.7% |
| Non-recurring operating income | 76A | - | €133 | +€133 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,618 | €11,999 | -€620 | -4.9% |
| Other operating charges | 640/8 | €11,391 | €5,462 | -€5,929 | -52.0% |
| Gross operating margin | 9900 | €158,906 | €151,755 | -€7,151 | -4.5% |
| Operating profit (loss) | 9901 | €134,897 | €134,295 | -€602 | -0.4% |
| Financial income | 75/76B | €76,128 | €50,661 | -€25,467 | -33.5% |
| Recurring financial income | 75 | €48,557 | €50,661 | +€2,105 | +4.3% |
| Non-recurring financial income | 76B | €27,572 | - | -€27,572 | |
| Financial charges | 65/66B | €10,559 | €9,537 | -€1,022 | -9.7% |
| Recurring financial charges | 65 | €10,559 | €9,537 | -€1,022 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €200,466 | €175,419 | -€25,048 | -12.5% |
| Income taxes | 67/77 | €51,818 | €42,377 | -€9,441 | -18.2% |
| Profit (loss) for the period | 9904 | €148,649 | €133,042 | -€15,607 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €148,649 | €133,042 | -€15,607 | -10.5% |
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 28 October 2026 via checked.be.