SWARD: 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.
SWARD
Largest movements
- Cash +€34,432
up €34,432 (+117%), from €29,348 to €63,780
mainly Net result for the year (+€28,758) and Tax, wage and social debts (+€5,448)
- Profit (loss) carried forward +€27,925
up €27,925 (+130%), from €21,514 to €49,439
- Tax, wage and social debts +€5,448
up €5,448 (+68.2%), from €7,989 to €13,438
of which Taxes: +€4,116
- Gross operating margin +€11,533
up €11,533 (+37.5%), from €30,795 to €42,329
- Taxes +€4,116
up €4,116 (+51.5%), from €7,989 to €12,105
- Other operating charges +€981
up €981 (+221%), from €444 to €1,425
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 | €32,502 | €66,530 | +€34,028 | +105% |
| Current assets | 29/58 | €32,502 | €66,530 | +€34,028 | +105% |
| Amounts receivable within one year | 40/41 | €645 | €409 | -€236 | -36.6% |
| Other amounts receivable | 41 | €645 | €409 | -€236 | -36.6% |
| Cash at bank and in hand | 54/58 | €29,348 | €63,780 | +€34,432 | +117% |
| Deferred charges and accrued income | 490/1 | €2,509 | €2,341 | -€168 | -6.7% |
| Total equity and liabilities | 10/49 | €32,502 | €66,530 | +€34,028 | +105% |
| Equity | 10/15 | €23,514 | €51,439 | +€27,925 | +119% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,514 | €49,439 | +€27,925 | +130% |
| Amounts payable | 17/49 | €8,988 | €15,091 | +€6,103 | +67.9% |
| Amounts payable within one year | 42/48 | €8,988 | €15,091 | +€6,103 | +67.9% |
| Trade debts | 44 | €109 | €764 | +€655 | +601% |
| Suppliers | 440/4 | €109 | €764 | +€655 | +601% |
| Taxes, remuneration and social security | 45 | €7,989 | €13,438 | +€5,448 | +68.2% |
| Taxes | 450/3 | €7,989 | €12,105 | +€4,116 | +51.5% |
| Remuneration and social security | 454/9 | - | €1,333 | +€1,333 | |
| Other amounts payable | 47/48 | €890 | €890 | = | 0.0% |
| Other operating charges | 640/8 | €444 | €1,425 | +€981 | +221% |
| Gross operating margin | 9900 | €30,795 | €42,329 | +€11,533 | +37.5% |
| Operating profit (loss) | 9901 | €30,351 | €40,903 | +€10,552 | +34.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €15 | €40 | +€25 | +169% |
| Recurring financial charges | 65 | €15 | €40 | +€25 | +169% |
| Profit (loss) for the period before taxes | 9903 | €30,336 | €40,863 | +€10,527 | +34.7% |
| Income taxes | 67/77 | €7,989 | €12,105 | +€4,116 | +51.5% |
| Profit (loss) for the period | 9904 | €22,347 | €28,758 | +€6,411 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,347 | €28,758 | +€6,411 | +28.7% |
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 13 October 2026 via checked.be.