SWENDEN: 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.
What changed
SWENDEN
NACE 66.300, Activities auxiliary to financial services and insurance activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€124,737
2024 · €209,197-€84,460
Equity
€12.3m
2024 · €12.5m-€176,313
Cash
€231,220
2024 · €72,157+€159,063
Balance sheet total
€13.8m
2024 · €14.0m-€197,176
Largest movements
Assets
- Receivables after one year -€332,779
down €332,779 (-30.6%), from €1.1m to €753,413
- Tangible fixed assets -€266,198
down €266,198 (-2.6%), from €10.2m to €10.0m
of which Land and buildings: -€256,345
- Current investments +€180,000
up €180,000 (+7.9%), from €2.3m to €2.5m
- Cash +€159,063
up €159,063 (+220%), from €72,157 to €231,220
mainly Receivables after one year (+€332,779) and Depreciation (+€272,499)
Equity and liabilities
- Reserves -€173,622
down €173,622 (-2.2%), from €7.9m to €7.8m
of which Tax-exempt reserves: -€173,622
Income statement
- Taxes +€87,599
up €87,599 (+7,114%), from €1,231 to €88,831
- Financial income -€26,726
down €26,726 (-22.9%), from €116,464 to €89,737
- Gross operating margin +€24,522
up €24,522 (+3.8%), from €644,683 to €669,205
- Depreciation -€18,404
down €18,404 (-6.3%), from €290,903 to €272,499
- Staff costs +€9,308
up €9,308 (+5.2%), from €178,345 to €187,653
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.
Result 2024
€209,197
Gross operating margin
+€24,522
Staff costs
-€9,308
Depreciation
+€18,404
Other operating charges
-€2,731
Financial income
-€26,726
Financial charges
-€72
Taxes
-€87,599
Deferred taxes and other
-€949
Result 2025
€124,737
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€646,564
Investment
-€186,301
Financing
-€301,199
Cash 2024
€72,157
From operations (derived)
+€646,564
Net result for the year
+€124,737
Depreciation
+€272,499
Receivables after one year
+€332,779
Stocks and contracts
+€585
Receivables within one year
-€22,249
Deferred charges and accrued income
-€41,072
Provisions
-€57,874
Trade debts
+€1,843
Tax, wage and social debts
+€64,722
Other debts
-€30,912
Accrued charges and deferred income
+€1,505
Investment (derived)
-€186,301
Investment in fixed assets (net)
-€6,301
Current investments
-€180,000
Financing
-€301,199
Debts after one year
-€149
Contributions, distributions and other
-€301,050
Cash 2025
€231,220
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,976,013 | €13,778,836 | -€197,176 | -1.4% |
| Fixed assets | 21/28 | €10,255,120 | €9,988,922 | -€266,198 | -2.6% |
| Tangible fixed assets | 22/27 | €10,244,133 | €9,977,935 | -€266,198 | -2.6% |
| Land and buildings | 22 | €10,204,957 | €9,948,613 | -€256,345 | -2.5% |
| Plant, machinery and equipment | 23 | €337 | €254 | -€82 | -24.5% |
| Furniture and vehicles | 24 | €38,839 | €29,068 | -€9,771 | -25.2% |
| Financial fixed assets | 28 | €10,987 | €10,987 | = | 0.0% |
| Current assets | 29/58 | €3,720,893 | €3,789,914 | +€69,021 | +1.9% |
| Amounts receivable after more than one year | 29 | €1,086,192 | €753,413 | -€332,779 | -30.6% |
| Other amounts receivable | 291 | €1,086,192 | €753,413 | -€332,779 | -30.6% |
| Stocks and contracts in progress | 3 | €3,205 | €2,620 | -€585 | -18.2% |
| Stocks | 30/36 | €3,205 | €2,620 | -€585 | -18.2% |
| Amounts receivable within one year | 40/41 | €164,464 | €186,713 | +€22,249 | +13.5% |
| Trade receivables | 40 | €79,654 | €94,973 | +€15,319 | +19.2% |
| Other amounts receivable | 41 | €84,809 | €91,740 | +€6,931 | +8.2% |
| Current investments | 50/53 | €2,270,000 | €2,450,000 | +€180,000 | +7.9% |
| Cash at bank and in hand | 54/58 | €72,157 | €231,220 | +€159,063 | +220% |
| Deferred charges and accrued income | 490/1 | €124,875 | €165,947 | +€41,072 | +32.9% |
| Total equity and liabilities | 10/49 | €13,976,013 | €13,778,836 | -€197,176 | -1.4% |
| Equity | 10/15 | €12,471,786 | €12,295,473 | -€176,313 | -1.4% |
| Contributions | 10/11 | €4,200,000 | €4,200,000 | = | 0.0% |
| Capital | 10 | €4,200,000 | €4,200,000 | = | 0.0% |
| Issued capital | 100 | €4,200,000 | €4,200,000 | = | 0.0% |
| Revaluation surpluses | 12 | €332,927 | €332,927 | = | 0.0% |
| Reserves | 13 | €7,936,120 | €7,762,499 | -€173,622 | -2.2% |
| Non-distributable reserves | 130/1 | €420,000 | €420,000 | = | 0.0% |
| Legal reserve | 130 | €420,000 | €420,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,516,120 | €7,342,499 | -€173,622 | -2.3% |
| Profit (loss) carried forward | 14 | €2,738 | €47 | -€2,691 | -98.3% |
| Provisions and deferred taxes | 16 | €1,055,061 | €997,187 | -€57,874 | -5.5% |
| Deferred taxes | 168 | €1,055,061 | €997,187 | -€57,874 | -5.5% |
| Amounts payable | 17/49 | €449,165 | €486,176 | +€37,011 | +8.2% |
| Amounts payable after more than one year | 17 | €9,137 | €8,988 | -€149 | -1.6% |
| Other amounts payable | 178/9 | €9,137 | €8,988 | -€149 | -1.6% |
| Amounts payable within one year | 42/48 | €410,402 | €446,056 | +€35,654 | +8.7% |
| Trade debts | 44 | €4,864 | €6,707 | +€1,843 | +37.9% |
| Suppliers | 440/4 | €4,864 | €6,707 | +€1,843 | +37.9% |
| Taxes, remuneration and social security | 45 | €44,665 | €109,387 | +€64,722 | +145% |
| Taxes | 450/3 | €24,569 | €52,525 | +€27,956 | +114% |
| Remuneration and social security | 454/9 | €20,096 | €56,862 | +€36,766 | +183% |
| Other amounts payable | 47/48 | €360,873 | €329,961 | -€30,912 | -8.6% |
| Accrued charges and deferred income | 492/3 | €29,627 | €31,132 | +€1,505 | +5.1% |
| Non-recurring operating income | 76A | €1,357 | - | -€1,357 | |
| Remuneration, social security and pensions | 62 | €178,345 | €187,653 | +€9,308 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290,903 | €272,499 | -€18,404 | -6.3% |
| Other operating charges | 640/8 | €140,009 | €142,740 | +€2,731 | +2.0% |
| Gross operating margin | 9900 | €644,683 | €669,205 | +€24,522 | +3.8% |
| Operating profit (loss) | 9901 | €35,426 | €66,314 | +€30,887 | +87.2% |
| Financial income | 75/76B | €116,464 | €89,737 | -€26,726 | -22.9% |
| Recurring financial income | 75 | €116,464 | €89,737 | -€26,726 | -22.9% |
| Financial charges | 65/66B | €285 | €356 | +€72 | +25.3% |
| Recurring financial charges | 65 | €285 | €356 | +€72 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €151,605 | €155,694 | +€4,089 | +2.7% |
| Transfer from deferred taxes | 780 | €58,823 | €57,874 | -€949 | -1.6% |
| Income taxes | 67/77 | €1,231 | €88,831 | +€87,599 | +7,114% |
| Profit (loss) for the period | 9904 | €209,197 | €124,737 | -€84,460 | -40.4% |
| Transfer from tax-exempt reserves | 789 | €176,470 | €173,622 | -€2,848 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €385,667 | €298,359 | -€87,308 | -22.6% |
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 27 October 2026 via checked.be.