SWELDENS: 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.
SWELDENS
Largest movements
- Tangible fixed assets -€14,242
down €14,242 (-25.7%), from €55,523 to €41,281
of which Furniture and vehicles: -€7,923
- Cash -€7,787
down €7,787 (-37.8%), from €20,621 to €12,834
mainly Debts after one year (-€16,312) and Other debts (-€9,405)
- Receivables within one year +€2,129
up €2,129 (+3.7%), from €56,861 to €58,990
of which Other amounts receivable: +€3,166
- Debts after one year -€16,312
down €16,312 (-38.5%), from €42,341 to €26,029
- Other debts -€9,405
no longer reported in 2025 (was €9,405)
- Reserves +€5,787
up €5,787 (+16.1%), from €35,922 to €41,709
of which Distributable reserves: +€5,787
- Gross operating margin -€13,989
down €13,989 (-32.4%), from €43,227 to €29,238
- Taxes -€3,202
down €3,202 (-48.1%), from €6,662 to €3,460
- Financial charges -€617
down €617 (-17.1%), from €3,597 to €2,981
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 | €133,004 | €113,105 | -€19,900 | -15.0% |
| Fixed assets | 21/28 | €55,523 | €41,281 | -€14,242 | -25.7% |
| Tangible fixed assets | 22/27 | €55,523 | €41,281 | -€14,242 | -25.7% |
| Land and buildings | 22 | €24,705 | €18,386 | -€6,319 | -25.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €30,818 | €22,895 | -€7,923 | -25.7% |
| Current assets | 29/58 | €77,481 | €71,823 | -€5,658 | -7.3% |
| Amounts receivable within one year | 40/41 | €56,861 | €58,990 | +€2,129 | +3.7% |
| Trade receivables | 40 | €15,743 | €14,705 | -€1,037 | -6.6% |
| Other amounts receivable | 41 | €41,118 | €44,284 | +€3,166 | +7.7% |
| Cash at bank and in hand | 54/58 | €20,621 | €12,834 | -€7,787 | -37.8% |
| Total equity and liabilities | 10/49 | €133,004 | €113,105 | -€19,900 | -15.0% |
| Equity | 10/15 | €62,004 | €67,791 | +€5,787 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35,922 | €41,709 | +€5,787 | +16.1% |
| Non-distributable reserves | 130/1 | €2,066 | €2,066 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,066 | €2,066 | = | 0.0% |
| Distributable reserves | 133 | €33,856 | €39,643 | +€5,787 | +17.1% |
| Profit (loss) carried forward | 14 | €7,481 | €7,481 | = | 0.0% |
| Amounts payable | 17/49 | €71,001 | €45,314 | -€25,687 | -36.2% |
| Amounts payable after more than one year | 17 | €42,341 | €26,029 | -€16,312 | -38.5% |
| Financial debts | 170/4 | €42,341 | €26,029 | -€16,312 | -38.5% |
| Amounts payable within one year | 42/48 | €28,659 | €19,284 | -€9,375 | -32.7% |
| Current portion of amounts payable after more than one year | 42 | €15,538 | €16,312 | +€774 | +5.0% |
| Trade debts | 44 | €984 | €1,310 | +€326 | +33.2% |
| Suppliers | 440/4 | €984 | €1,310 | +€326 | +33.2% |
| Taxes, remuneration and social security | 45 | €2,732 | €1,662 | -€1,070 | -39.2% |
| Taxes | 450/3 | €2,732 | €1,662 | -€1,070 | -39.2% |
| Other amounts payable | 47/48 | €9,405 | - | -€9,405 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,967 | €15,311 | +€344 | +2.3% |
| Other operating charges | 640/8 | €1,738 | €1,721 | -€18 | -1.0% |
| Gross operating margin | 9900 | €43,227 | €29,238 | -€13,989 | -32.4% |
| Operating profit (loss) | 9901 | €26,521 | €12,206 | -€14,315 | -54.0% |
| Financial income | 75/76B | €75 | €22 | -€53 | -71.0% |
| Recurring financial income | 75 | €75 | €22 | -€53 | -71.0% |
| Financial charges | 65/66B | €3,597 | €2,981 | -€617 | -17.1% |
| Recurring financial charges | 65 | €3,597 | €2,981 | -€617 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €22,998 | €9,247 | -€13,751 | -59.8% |
| Income taxes | 67/77 | €6,662 | €3,460 | -€3,202 | -48.1% |
| Profit (loss) for the period | 9904 | €16,336 | €5,787 | -€10,549 | -64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,336 | €5,787 | -€10,549 | -64.6% |
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 5 October 2026 via checked.be.