SWET Brussels: 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.
SWET Brussels
Largest movements
- Receivables within one year +€46,489
up €46,489 (+46.1%), from €100,830 to €147,319
of which Trade receivables: +€26,651
- Cash -€42,867
down €42,867 (-46.4%), from €92,292 to €49,425
mainly Receivables within one year (-€46,489) and Stocks and contracts (-€18,183)
- Stocks and contracts +€18,183
up €18,183 (+43.9%), from €41,388 to €59,571
- Tangible fixed assets -€12,818
down €12,818 (-33.3%), from €38,458 to €25,640
of which Furniture and vehicles: -€10,644
- Trade debts +€30,960
up €30,960 (+513%), from €6,031 to €36,991
- Profit (loss) carried forward -€13,926
new in 2025: -€13,926
- Debts after one year -€11,174
down €11,174 (-27.8%), from €40,252 to €29,078
of which Other amounts payable: -€6,000
- Gross operating margin -€91,355
down €91,355 (-69.1%), from €132,296 to €40,941
- Taxes -€20,826
down €20,826 (-100%), from €20,826 to €0
- Staff costs +€3,368
up €3,368 (+9.7%), from €34,742 to €38,110
- Write-downs -€3,098
down €3,098 (-94.6%), from €3,273 to €175
- Financial charges -€1,757
down €1,757 (-43.6%), from €4,027 to €2,270
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,422 | €286,081 | +€7,659 | +2.8% |
| Fixed assets | 21/28 | €42,583 | €29,765 | -€12,818 | -30.1% |
| Tangible fixed assets | 22/27 | €38,458 | €25,640 | -€12,818 | -33.3% |
| Plant, machinery and equipment | 23 | €3,094 | €1,516 | -€1,578 | -51.0% |
| Furniture and vehicles | 24 | €31,035 | €20,391 | -€10,644 | -34.3% |
| Other tangible fixed assets | 26 | €4,329 | €3,733 | -€596 | -13.8% |
| Financial fixed assets | 28 | €4,125 | €4,125 | = | 0.0% |
| Current assets | 29/58 | €235,839 | €256,316 | +€20,477 | +8.7% |
| Stocks and contracts in progress | 3 | €41,388 | €59,571 | +€18,183 | +43.9% |
| Stocks | 30/36 | €41,388 | €59,571 | +€18,183 | +43.9% |
| Amounts receivable within one year | 40/41 | €100,830 | €147,319 | +€46,489 | +46.1% |
| Trade receivables | 40 | €37,515 | €64,167 | +€26,651 | +71.0% |
| Other amounts receivable | 41 | €63,315 | €83,153 | +€19,838 | +31.3% |
| Cash at bank and in hand | 54/58 | €92,292 | €49,425 | -€42,867 | -46.4% |
| Deferred charges and accrued income | 490/1 | €1,328 | €0 | -€1,328 | -100% |
| Total equity and liabilities | 10/49 | €278,422 | €286,081 | +€7,659 | +2.8% |
| Equity | 10/15 | €196,482 | €182,556 | -€13,926 | -7.1% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €136,482 | €136,482 | = | 0.0% |
| Distributable reserves | 133 | €136,482 | €136,482 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€13,926 | -€13,926 | |
| Amounts payable | 17/49 | €81,939 | €103,525 | +€21,585 | +26.3% |
| Amounts payable after more than one year | 17 | €40,252 | €29,078 | -€11,174 | -27.8% |
| Financial debts | 170/4 | €8,252 | €3,078 | -€5,174 | -62.7% |
| Other amounts payable | 178/9 | €32,000 | €26,000 | -€6,000 | -18.8% |
| Amounts payable within one year | 42/48 | €41,688 | €74,447 | +€32,760 | +78.6% |
| Current portion of amounts payable after more than one year | 42 | €5,048 | €5,174 | +€126 | +2.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €6,031 | €36,991 | +€30,960 | +513% |
| Suppliers | 440/4 | €6,031 | €36,991 | +€30,960 | +513% |
| Taxes, remuneration and social security | 45 | €20,825 | €22,459 | +€1,634 | +7.8% |
| Taxes | 450/3 | €11,364 | €14,707 | +€3,343 | +29.4% |
| Remuneration and social security | 454/9 | €9,461 | €7,752 | -€1,709 | -18.1% |
| Other amounts payable | 47/48 | €9,783 | €9,823 | +€40 | +0.4% |
| Remuneration, social security and pensions | 62 | €34,742 | €38,110 | +€3,368 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,786 | €13,860 | +€1,074 | +8.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,273 | €175 | -€3,098 | -94.6% |
| Other operating charges | 640/8 | €1,216 | €657 | -€560 | -46.0% |
| Gross operating margin | 9900 | €132,296 | €40,941 | -€91,355 | -69.1% |
| Operating profit (loss) | 9901 | €80,280 | -€11,860 | -€92,140 | |
| Financial income | 75/76B | €19 | €204 | +€185 | +1,000% |
| Recurring financial income | 75 | €19 | €204 | +€185 | +1,000% |
| Financial charges | 65/66B | €4,027 | €2,270 | -€1,757 | -43.6% |
| Recurring financial charges | 65 | €4,027 | €2,270 | -€1,757 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €76,272 | -€13,926 | -€90,198 | |
| Income taxes | 67/77 | €20,826 | €0 | -€20,826 | -100% |
| Profit (loss) for the period | 9904 | €55,445 | -€13,926 | -€69,372 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,445 | -€13,926 | -€69,372 |
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 15 October 2026 via checked.be.