Swaplight: 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.
Swaplight
Largest movements
- Receivables within one year +€79,221
up €79,221 (+49.1%), from €161,259 to €240,480
of which Other amounts receivable: +€44,770
- Tangible fixed assets -€67,661
down €67,661 (-5.5%), from €1.2m to €1.2m
of which Land and buildings: -€65,275
- Debts after one year -€69,488
down €69,488 (-8.9%), from €777,798 to €708,309
- Trade debts +€44,064
up €44,064 (+67.6%), from €65,146 to €109,210
- Profit (loss) carried forward +€40,291
up €40,291, from -€11,001 to €29,290
- Other debts -€27,000
down €27,000 (-5.3%), from €505,119 to €478,119
- Tax, wage and social debts +€14,667
up €14,667 (+2860.8%), from €513 to €15,179
- Gross operating margin +€73,669
up €73,669 (+74.1%), from €99,448 to €173,116
- Other operating charges +€23,771
up €23,771 (+183.3%), from €12,969 to €36,740
- Taxes +€14,154
up €14,154 (+2760.7%), from €513 to €14,667
- Financial charges -€3,178
down €3,178 (-18.8%), from €16,936 to €13,758
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 | €1,425,516 | €1,428,197 | +€2,681 | +0.2% |
| Fixed assets | 21/28 | €1,236,159 | €1,168,498 | -€67,661 | -5.5% |
| Tangible fixed assets | 22/27 | €1,236,159 | €1,168,498 | -€67,661 | -5.5% |
| Land and buildings | 22 | €1,221,874 | €1,156,599 | -€65,275 | -5.3% |
| Plant, machinery and equipment | 23 | €14,285 | €11,899 | -€2,385 | -16.7% |
| Current assets | 29/58 | €189,357 | €259,699 | +€70,342 | +37.1% |
| Stocks and contracts in progress | 3 | €18,975 | €18,975 | = | 0.0% |
| Stocks | 30/36 | €18,975 | €18,975 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €161,259 | €240,480 | +€79,221 | +49.1% |
| Trade receivables | 40 | €52,657 | €87,108 | +€34,451 | +65.4% |
| Other amounts receivable | 41 | €108,602 | €153,372 | +€44,770 | +41.2% |
| Cash at bank and in hand | 54/58 | €8,500 | €78 | -€8,423 | -99.1% |
| Deferred charges and accrued income | 490/1 | €623 | €166 | -€457 | -73.3% |
| Total equity and liabilities | 10/49 | €1,425,516 | €1,428,197 | +€2,681 | +0.2% |
| Equity | 10/15 | €7,599 | €47,890 | +€40,291 | +530.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,001 | €29,290 | +€40,291 | |
| Amounts payable | 17/49 | €1,417,916 | €1,380,307 | -€37,610 | -2.7% |
| Amounts payable after more than one year | 17 | €777,798 | €708,309 | -€69,488 | -8.9% |
| Financial debts | 170/4 | €777,798 | €708,309 | -€69,488 | -8.9% |
| Amounts payable within one year | 42/48 | €639,137 | €671,997 | +€32,860 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €68,359 | €69,488 | +€1,129 | +1.7% |
| Financial debts | 43 | €1 | - | -€1 | |
| Credit institutions | 430/8 | €1 | - | -€1 | |
| Trade debts | 44 | €65,146 | €109,210 | +€44,064 | +67.6% |
| Suppliers | 440/4 | €65,146 | €109,210 | +€44,064 | +67.6% |
| Taxes, remuneration and social security | 45 | €513 | €15,179 | +€14,667 | +2860.8% |
| Taxes | 450/3 | €513 | €15,179 | +€14,667 | +2860.8% |
| Other amounts payable | 47/48 | €505,119 | €478,119 | -€27,000 | -5.3% |
| Accrued charges and deferred income | 492/3 | €982 | - | -€982 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,661 | €67,661 | = | 0.0% |
| Other operating charges | 640/8 | €12,969 | €36,740 | +€23,771 | +183.3% |
| Gross operating margin | 9900 | €99,448 | €173,116 | +€73,669 | +74.1% |
| Operating profit (loss) | 9901 | €18,818 | €68,715 | +€49,898 | +265.2% |
| Financial charges | 65/66B | €16,936 | €13,758 | -€3,178 | -18.8% |
| Recurring financial charges | 65 | €16,936 | €13,758 | -€3,178 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | €1,881 | €54,957 | +€53,076 | +2821.1% |
| Income taxes | 67/77 | €513 | €14,667 | +€14,154 | +2760.7% |
| Profit (loss) for the period | 9904 | €1,369 | €40,291 | +€38,922 | +2843.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,369 | €40,291 | +€38,922 | +2843.7% |
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 4 October 2026 via checked.be.