SWC: 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.
SWC
Largest movements
- Current investments -€163,636
down €163,636 (-100.0%), from €163,636 to €0
- Receivables within one year +€34,964
up €34,964 (+98.6%), from €35,449 to €70,414
- Profit (loss) carried forward -€117,749
down €117,749 (-61.1%), from €192,628 to €74,878
- Tax, wage and social debts -€36,725
down €36,725 (-82.4%), from €44,565 to €7,840
- Trade debts +€24,064
up €24,064 (+3244.2%), from €742 to €24,805
- Financial income +€15,369
up €15,369 (+9230.3%), from €167 to €15,536
- Gross operating margin -€10,922
down €10,922 (-7.5%), from €145,586 to €134,665
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 | €242,468 | €113,610 | -€128,858 | -53.1% |
| Fixed assets | 21/28 | €2,159 | €530 | -€1,629 | -75.5% |
| Tangible fixed assets | 22/27 | €2,159 | €530 | -€1,629 | -75.5% |
| Furniture and vehicles | 24 | €2,159 | €530 | -€1,629 | -75.5% |
| Current assets | 29/58 | €240,310 | €113,081 | -€127,229 | -52.9% |
| Amounts receivable within one year | 40/41 | €35,449 | €70,414 | +€34,964 | +98.6% |
| Trade receivables | 40 | €35,449 | €70,414 | +€34,964 | +98.6% |
| Current investments | 50/53 | €163,636 | €0 | -€163,636 | -100.0% |
| Cash at bank and in hand | 54/58 | €40,274 | €41,534 | +€1,260 | +3.1% |
| Deferred charges and accrued income | 490/1 | €951 | €1,133 | +€182 | +19.2% |
| Total equity and liabilities | 10/49 | €242,468 | €113,610 | -€128,858 | -53.1% |
| Equity | 10/15 | €194,628 | €76,878 | -€117,749 | -60.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,628 | €74,878 | -€117,749 | -61.1% |
| Amounts payable | 17/49 | €47,841 | €36,732 | -€11,109 | -23.2% |
| Amounts payable within one year | 42/48 | €47,217 | €35,431 | -€11,786 | -25.0% |
| Trade debts | 44 | €742 | €24,805 | +€24,064 | +3244.2% |
| Suppliers | 440/4 | €742 | €24,805 | +€24,064 | +3244.2% |
| Taxes, remuneration and social security | 45 | €44,565 | €7,840 | -€36,725 | -82.4% |
| Taxes | 450/3 | €44,565 | €7,840 | -€36,725 | -82.4% |
| Other amounts payable | 47/48 | €1,911 | €2,785 | +€875 | +45.8% |
| Accrued charges and deferred income | 492/3 | €624 | €1,301 | +€678 | +108.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,629 | €1,629 | = | 0.0% |
| Other operating charges | 640/8 | €62 | €462 | +€400 | +644.7% |
| Gross operating margin | 9900 | €145,586 | €134,665 | -€10,922 | -7.5% |
| Operating profit (loss) | 9901 | €143,895 | €132,574 | -€11,321 | -7.9% |
| Financial income | 75/76B | €167 | €15,536 | +€15,369 | +9230.3% |
| Recurring financial income | 75 | €167 | €15,536 | +€15,369 | +9230.3% |
| Financial charges | 65/66B | €222 | €322 | +€99 | +44.7% |
| Recurring financial charges | 65 | €222 | €322 | +€99 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | €143,839 | €147,788 | +€3,949 | +2.7% |
| Income taxes | 67/77 | €31,336 | €31,538 | +€202 | +0.6% |
| Profit (loss) for the period | 9904 | €112,504 | €116,251 | +€3,747 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €112,504 | €116,251 | +€3,747 | +3.3% |
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 30 September 2026 via checked.be.