SWB Immo: 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.
SWB Immo
Largest movements
- Tangible fixed assets -€29,301
down €29,301 (-6.8%), from €428,481 to €399,181
of which Land and buildings: -€26,435
- Receivables within one year +€12,801
up €12,801 (+2.8%), from €454,590 to €467,391
- Debts after one year -€53,027
down €53,027 (-71.7%), from €73,975 to €20,948
of which Financial debts: -€53,177
- Profit (loss) carried forward +€34,072
up €34,072 (+20.7%), from €164,427 to €198,499
- Gross operating margin -€18,250
down €18,250 (-24.1%), from €75,773 to €57,524
- Other operating charges -€6,524
down €6,524 (-85.0%), from €7,678 to €1,154
- Taxes -€3,089
down €3,089 (-18.9%), from €16,315 to €13,227
- Financial charges -€2,339
down €2,339 (-35.5%), from €6,595 to €4,256
- Financial income -€2,260
down €2,260 (-8.4%), from €26,922 to €24,662
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 | €884,035 | €866,607 | -€17,428 | -2.0% |
| Fixed assets | 21/28 | €428,659 | €399,181 | -€29,478 | -6.9% |
| Intangible fixed assets | 21 | €177 | - | -€177 | |
| Tangible fixed assets | 22/27 | €428,481 | €399,181 | -€29,301 | -6.8% |
| Land and buildings | 22 | €424,867 | €398,431 | -€26,435 | -6.2% |
| Plant, machinery and equipment | 23 | €1,028 | €536 | -€492 | -47.9% |
| Furniture and vehicles | 24 | €2,586 | €213 | -€2,373 | -91.8% |
| Current assets | 29/58 | €455,377 | €467,427 | +€12,050 | +2.6% |
| Amounts receivable within one year | 40/41 | €454,590 | €467,391 | +€12,801 | +2.8% |
| Other amounts receivable | 41 | €454,590 | €467,391 | +€12,801 | +2.8% |
| Cash at bank and in hand | 54/58 | €787 | €36 | -€751 | -95.4% |
| Total equity and liabilities | 10/49 | €884,035 | €866,607 | -€17,428 | -2.0% |
| Equity | 10/15 | €643,412 | €677,484 | +€34,072 | +5.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €416,985 | €416,985 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,203 | €6,203 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,203 | €6,203 | = | 0.0% |
| Tax-exempt reserves | 132 | €242,198 | €242,198 | = | 0.0% |
| Distributable reserves | 133 | €168,584 | €168,584 | = | 0.0% |
| Profit (loss) carried forward | 14 | €164,427 | €198,499 | +€34,072 | +20.7% |
| Provisions and deferred taxes | 16 | €80,733 | €80,733 | = | 0.0% |
| Deferred taxes | 168 | €80,733 | €80,733 | = | 0.0% |
| Amounts payable | 17/49 | €159,891 | €108,391 | -€51,500 | -32.2% |
| Amounts payable after more than one year | 17 | €73,975 | €20,948 | -€53,027 | -71.7% |
| Financial debts | 170/4 | €53,177 | - | -€53,177 | |
| Other amounts payable | 178/9 | €20,798 | €20,948 | +€150 | +0.7% |
| Amounts payable within one year | 42/48 | €85,915 | €87,443 | +€1,528 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €58,435 | €55,387 | -€3,048 | -5.2% |
| Trade debts | 44 | €2,049 | €2,713 | +€664 | +32.4% |
| Suppliers | 440/4 | €2,049 | €2,713 | +€664 | +32.4% |
| Taxes, remuneration and social security | 45 | €25,431 | €29,343 | +€3,912 | +15.4% |
| Taxes | 450/3 | €25,431 | €29,343 | +€3,912 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,527 | €29,478 | -€49 | -0.2% |
| Other operating charges | 640/8 | €7,678 | €1,154 | -€6,524 | -85.0% |
| Gross operating margin | 9900 | €75,773 | €57,524 | -€18,250 | -24.1% |
| Operating profit (loss) | 9901 | €38,569 | €26,892 | -€11,676 | -30.3% |
| Financial income | 75/76B | €26,922 | €24,662 | -€2,260 | -8.4% |
| Recurring financial income | 75 | €26,922 | €24,662 | -€2,260 | -8.4% |
| Financial charges | 65/66B | €6,595 | €4,256 | -€2,339 | -35.5% |
| Recurring financial charges | 65 | €6,595 | €4,256 | -€2,339 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €58,895 | €47,298 | -€11,597 | -19.7% |
| Income taxes | 67/77 | €16,315 | €13,227 | -€3,089 | -18.9% |
| Profit (loss) for the period | 9904 | €42,580 | €34,072 | -€8,508 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,580 | €34,072 | -€8,508 | -20.0% |
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 1 October 2026 via checked.be.