Swertelon: 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.
Swertelon
Largest movements
- Receivables within one year -€17,983
down €17,983 (-47.7%), from €37,701 to €19,718
of which Other amounts receivable: -€18,307
- Tangible fixed assets -€15,784
down €15,784 (-23.3%), from €67,724 to €51,940
of which Plant, machinery and equipment: -€12,856
- Cash -€5,751
down €5,751 (-10.2%), from €56,277 to €50,526
mainly Other debts (-€15,426) and Trade debts (-€13,055)
- Other debts -€15,426
down €15,426 (-28.2%), from €54,624 to €39,198
- Trade debts -€13,055
down €13,055 (-19.1%), from €68,380 to €55,325
- Current portion of long-term debt -€10,246
no longer reported in 2024 (was €10,246)
- Advances received -€7,084
down €7,084 (-94.7%), from €7,482 to €398
- Reserves +€6,270
up €6,270 (+7.8%), from €80,020 to €86,290
of which Distributable reserves: +€6,270
- Gross operating margin +€102,312
up €102,312 (+28.4%), from €359,858 to €462,170
- Staff costs +€43,460
up €43,460 (+11.2%), from €389,021 to €432,481
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,434 | €134,034 | -€41,401 | -23.6% |
| Fixed assets | 21/28 | €71,136 | €55,352 | -€15,784 | -22.2% |
| Tangible fixed assets | 22/27 | €67,724 | €51,940 | -€15,784 | -23.3% |
| Land and buildings | 22 | €8,425 | €6,455 | -€1,970 | -23.4% |
| Plant, machinery and equipment | 23 | €56,395 | €43,539 | -€12,856 | -22.8% |
| Furniture and vehicles | 24 | €2,905 | €1,946 | -€958 | -33.0% |
| Financial fixed assets | 28 | €3,413 | €3,413 | = | 0.0% |
| Current assets | 29/58 | €104,298 | €78,681 | -€25,617 | -24.6% |
| Stocks and contracts in progress | 3 | €9,421 | €8,129 | -€1,292 | -13.7% |
| Stocks | 30/36 | €9,421 | €8,129 | -€1,292 | -13.7% |
| Amounts receivable within one year | 40/41 | €37,701 | €19,718 | -€17,983 | -47.7% |
| Trade receivables | 40 | €120 | €444 | +€324 | +270% |
| Other amounts receivable | 41 | €37,581 | €19,274 | -€18,307 | -48.7% |
| Cash at bank and in hand | 54/58 | €56,277 | €50,526 | -€5,751 | -10.2% |
| Deferred charges and accrued income | 490/1 | €898 | €308 | -€590 | -65.7% |
| Total equity and liabilities | 10/49 | €175,434 | €134,034 | -€41,401 | -23.6% |
| Equity | 10/15 | -€47,268 | -€40,998 | +€6,270 | +13.3% |
| Contributions | 10/11 | €26,000 | €26,000 | = | 0.0% |
| Reserves | 13 | €80,020 | €86,290 | +€6,270 | +7.8% |
| Non-distributable reserves | 130/1 | €2,600 | €2,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,600 | €2,600 | = | 0.0% |
| Distributable reserves | 133 | €77,420 | €83,690 | +€6,270 | +8.1% |
| Profit (loss) carried forward | 14 | -€153,288 | -€153,288 | = | 0.0% |
| Amounts payable | 17/49 | €222,702 | €175,031 | -€47,671 | -21.4% |
| Amounts payable within one year | 42/48 | €222,702 | €175,031 | -€47,671 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €10,246 | - | -€10,246 | |
| Trade debts | 44 | €68,380 | €55,325 | -€13,055 | -19.1% |
| Suppliers | 440/4 | €68,380 | €55,325 | -€13,055 | -19.1% |
| Advances received on contracts in progress | 46 | €7,482 | €398 | -€7,084 | -94.7% |
| Taxes, remuneration and social security | 45 | €81,971 | €80,110 | -€1,860 | -2.3% |
| Taxes | 450/3 | €24,372 | €24,755 | +€384 | +1.6% |
| Remuneration and social security | 454/9 | €57,599 | €55,355 | -€2,244 | -3.9% |
| Other amounts payable | 47/48 | €54,624 | €39,198 | -€15,426 | -28.2% |
| Remuneration, social security and pensions | 62 | €389,021 | €432,481 | +€43,460 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,883 | €15,784 | -€1,099 | -6.5% |
| Other operating charges | 640/8 | €8,127 | €4,842 | -€3,285 | -40.4% |
| Gross operating margin | 9900 | €359,858 | €462,170 | +€102,312 | +28.4% |
| Operating profit (loss) | 9901 | -€54,173 | €9,063 | +€63,236 | |
| Financial income | 75/76B | €1,377 | €660 | -€717 | -52.1% |
| Recurring financial income | 75 | €1,377 | €660 | -€717 | -52.1% |
| Financial charges | 65/66B | €1,921 | €2,213 | +€292 | +15.2% |
| Recurring financial charges | 65 | €1,921 | €2,213 | +€292 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€54,717 | €7,510 | +€62,227 | |
| Income taxes | 67/77 | €600 | €1,239 | +€640 | +107% |
| Profit (loss) for the period | 9904 | -€55,317 | €6,270 | +€61,587 | |
| Profit (loss) for the period to be appropriated | 9905 | -€55,317 | €6,270 | +€61,587 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.