SWIFINE: 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.
SWIFINE
Largest movements
- Receivables within one year +€30,339
up €30,339 (+222%), from €13,688 to €44,027
of which Trade receivables: +€30,338
- Tangible fixed assets +€16,038
up €16,038 (+440%), from €3,646 to €19,684
of which Other tangible fixed assets: +€17,800
- Cash +€13,736
up €13,736 (+7.4%), from €186,401 to €200,137
mainly Other debts (+€70,347) and Trade debts (+€31,411)
- Other debts +€70,347
up €70,347 (+76.9%), from €91,476 to €161,823
- Profit (loss) carried forward -€50,294
down €50,294 (-69.7%), from €72,120 to €21,826
- Trade debts +€31,411
up €31,411 (+555%), from €5,655 to €37,066
- Tax, wage and social debts +€10,075
up €10,075 (+35.5%), from €28,403 to €38,478
- Gross operating margin -€12,096
down €12,096 (-24.2%), from €49,929 to €37,834
- Taxes -€2,910
down €2,910 (-21.7%), from €13,393 to €10,483
- Depreciation -€1,601
down €1,601 (-28.0%), from €5,715 to €4,113
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 | €203,854 | €265,393 | +€61,538 | +30.2% |
| Fixed assets | 21/28 | €3,646 | €19,684 | +€16,038 | +440% |
| Tangible fixed assets | 22/27 | €3,646 | €19,684 | +€16,038 | +440% |
| Plant, machinery and equipment | 23 | €370 | - | -€370 | |
| Furniture and vehicles | 24 | €3,276 | €1,884 | -€1,392 | -42.5% |
| Other tangible fixed assets | 26 | - | €17,800 | +€17,800 | |
| Current assets | 29/58 | €200,208 | €245,708 | +€45,501 | +22.7% |
| Amounts receivable within one year | 40/41 | €13,688 | €44,027 | +€30,339 | +222% |
| Trade receivables | 40 | €13,670 | €44,007 | +€30,338 | +222% |
| Other amounts receivable | 41 | €18 | €19 | +€1 | +6.5% |
| Cash at bank and in hand | 54/58 | €186,401 | €200,137 | +€13,736 | +7.4% |
| Deferred charges and accrued income | 490/1 | €119 | €1,545 | +€1,426 | +1,199% |
| Total equity and liabilities | 10/49 | €203,854 | €265,393 | +€61,538 | +30.2% |
| Equity | 10/15 | €78,320 | €28,026 | -€50,294 | -64.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,120 | €21,826 | -€50,294 | -69.7% |
| Amounts payable | 17/49 | €125,534 | €237,367 | +€111,833 | +89.1% |
| Amounts payable within one year | 42/48 | €125,534 | €237,367 | +€111,833 | +89.1% |
| Trade debts | 44 | €5,655 | €37,066 | +€31,411 | +555% |
| Suppliers | 440/4 | €5,655 | €37,066 | +€31,411 | +555% |
| Taxes, remuneration and social security | 45 | €28,403 | €38,478 | +€10,075 | +35.5% |
| Taxes | 450/3 | €28,403 | €38,478 | +€10,075 | +35.5% |
| Other amounts payable | 47/48 | €91,476 | €161,823 | +€70,347 | +76.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,715 | €4,113 | -€1,601 | -28.0% |
| Other operating charges | 640/8 | €879 | €1,253 | +€374 | +42.6% |
| Gross operating margin | 9900 | €49,929 | €37,834 | -€12,096 | -24.2% |
| Operating profit (loss) | 9901 | €43,336 | €32,468 | -€10,869 | -25.1% |
| Financial income | 75/76B | €21 | €68 | +€47 | +227% |
| Recurring financial income | 75 | €21 | €68 | +€47 | +227% |
| Financial charges | 65/66B | €335 | €347 | +€12 | +3.6% |
| Recurring financial charges | 65 | €335 | €347 | +€12 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €43,022 | €32,189 | -€10,833 | -25.2% |
| Income taxes | 67/77 | €13,393 | €10,483 | -€2,910 | -21.7% |
| Profit (loss) for the period | 9904 | €29,629 | €21,706 | -€7,923 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,629 | €21,706 | -€7,923 | -26.7% |
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 14 October 2026 via checked.be.