Swift & Co: 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.
What changed
Swift & Co
NACE 46.323, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€80,776
2024 · -€321,046+€401,821
Equity
€1.5m
2024 · €1.4m+€80,776
Cash
€43,527
2024 · €145,042-€101,515
Balance sheet total
€4.4m
2024 · €4.4m+€10,804
Largest movements
Assets
- Stocks and contracts +€587,863
up €587,863 (+20.7%), from €2.8m to €3.4m
- Receivables within one year -€474,343
down €474,343 (-33.1%), from €1.4m to €960,753
of which Trade receivables: -€394,525
- Cash -€101,515
down €101,515 (-70.0%), from €145,042 to €43,527
mainly Stocks and contracts (-€587,863) and Short-term financial debts (-€70,428)
Equity and liabilities
- Profit (loss) carried forward +€80,776
up €80,776 (+11.8%), from €684,436 to €765,212
- Short-term financial debts -€70,428
down €70,428 (-2.5%), from €2.8m to €2.7m
Income statement
- Goods and materials -€960,946
down €960,946 (-14.2%), from €6.8m to €5.8m
of which Change in stocks: decrease (increase): -€1.3m
- Turnover -€402,097
down €402,097 (-6.0%), from €6.8m to €6.4m
- Other operating income -€155,480
down €155,480 (-92.4%), from €168,204 to €12,724
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
-€321,046
Turnover
-€402,097
Other operating income
-€155,480
Goods and materials
+€960,946
Services and other goods
-€24,193
Staff costs
+€14,235
Write-downs
-€63,649
Other operating charges
+€4,076
Financial income
+€12,310
Financial charges
+€56,004
Taxes
-€330
Result 2025
€80,776
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.
From operations
-€31,087
Investment
€0
Financing
-€70,428
Cash 2024
€145,042
From operations (derived)
-€31,087
Net result for the year
+€80,776
Depreciation
+€1,201
Stocks and contracts
-€587,863
Receivables within one year
+€474,343
Trade debts
+€32,289
Tax, wage and social debts
-€29,271
Accrued charges and deferred income
-€2,561
Financing
-€70,428
Short-term financial debts
-€70,428
Cash 2025
€43,527
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,426,470 | €4,437,274 | +€10,804 | +0.2% |
| Fixed assets | 21/28 | €1,749 | €548 | -€1,201 | -68.7% |
| Tangible fixed assets | 22/27 | €1,749 | €548 | -€1,201 | -68.7% |
| Furniture and vehicles | 24 | €1,749 | €548 | -€1,201 | -68.7% |
| Current assets | 29/58 | €4,424,721 | €4,436,726 | +€12,005 | +0.3% |
| Stocks and contracts in progress | 3 | €2,844,582 | €3,432,446 | +€587,863 | +20.7% |
| Stocks | 30/36 | €2,844,582 | €3,432,446 | +€587,863 | +20.7% |
| Goods purchased for resale | 34 | €2,007,097 | €2,393,071 | +€385,973 | +19.2% |
| Advance payments | 36 | €837,485 | €1,039,375 | +€201,890 | +24.1% |
| Amounts receivable within one year | 40/41 | €1,435,096 | €960,753 | -€474,343 | -33.1% |
| Trade receivables | 40 | €895,485 | €500,960 | -€394,525 | -44.1% |
| Other amounts receivable | 41 | €539,612 | €459,793 | -€79,819 | -14.8% |
| Cash at bank and in hand | 54/58 | €145,042 | €43,527 | -€101,515 | -70.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €4,426,470 | €4,437,274 | +€10,804 | +0.2% |
| Equity | 10/15 | €1,376,284 | €1,457,059 | +€80,776 | +5.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €616,848 | €616,848 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €609,348 | €609,348 | = | 0.0% |
| Profit (loss) carried forward | 14 | €684,436 | €765,212 | +€80,776 | +11.8% |
| Provisions and deferred taxes | 16 | €27,670 | €27,670 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €27,670 | €27,670 | = | 0.0% |
| Other liabilities and charges | 164/5 | €27,670 | €27,670 | = | 0.0% |
| Amounts payable | 17/49 | €3,022,516 | €2,952,544 | -€69,971 | -2.3% |
| Amounts payable within one year | 42/48 | €3,010,142 | €2,942,731 | -€67,410 | -2.2% |
| Financial debts | 43 | €2,773,143 | €2,702,715 | -€70,428 | -2.5% |
| Credit institutions | 430/8 | €2,773,143 | €2,702,715 | -€70,428 | -2.5% |
| Trade debts | 44 | €195,943 | €228,232 | +€32,289 | +16.5% |
| Suppliers | 440/4 | €195,943 | €228,232 | +€32,289 | +16.5% |
| Taxes, remuneration and social security | 45 | €41,055 | €11,784 | -€29,271 | -71.3% |
| Taxes | 450/3 | €36,164 | €11,784 | -€24,380 | -67.4% |
| Remuneration and social security | 454/9 | €4,891 | €0 | -€4,891 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €12,374 | €9,813 | -€2,561 | -20.7% |
| Operating income | 70/76A | €6,922,165 | €6,364,588 | -€557,577 | -8.1% |
| Turnover | 70 | €6,753,961 | €6,351,864 | -€402,097 | -6.0% |
| Other operating income | 74 | €168,204 | €12,724 | -€155,480 | -92.4% |
| Operating charges | 60/66A | €7,087,097 | €6,195,682 | -€891,415 | -12.6% |
| Goods for resale, raw materials and consumables | 60 | €6,776,585 | €5,815,639 | -€960,946 | -14.2% |
| Purchases | 600/8 | €5,885,055 | €6,201,612 | +€316,557 | +5.4% |
| Change in stocks: decrease (increase) | 609 | €891,530 | -€385,973 | -€1.3m | |
| Services and other goods | 61 | €260,418 | €284,611 | +€24,193 | +9.3% |
| Remuneration, social security and pensions | 62 | €42,497 | €28,263 | -€14,235 | -33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,201 | €1,201 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,924 | €56,725 | +€63,649 | |
| Other operating charges | 640/8 | €13,320 | €9,243 | -€4,076 | -30.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | -€164,932 | €168,906 | +€333,838 | |
| Financial income | 75/76B | €14,436 | €26,746 | +€12,310 | +85.3% |
| Recurring financial income | 75 | €14,436 | €26,746 | +€12,310 | +85.3% |
| Other financial income | 752/9 | €14,436 | €26,746 | +€12,310 | +85.3% |
| Financial charges | 65/66B | €170,550 | €114,546 | -€56,004 | -32.8% |
| Recurring financial charges | 65 | €170,550 | €114,546 | -€56,004 | -32.8% |
| Debt charges | 650 | - | €86,430 | +€86,430 | |
| Other financial charges | 652/9 | €170,550 | €28,116 | -€142,434 | -83.5% |
| Profit (loss) for the period before taxes | 9903 | -€321,046 | €81,105 | +€402,151 | |
| Income taxes | 67/77 | €0 | €330 | +€330 | |
| Taxes | 670/3 | €0 | €330 | +€330 | |
| Profit (loss) for the period | 9904 | -€321,046 | €80,776 | +€401,821 | |
| Profit (loss) for the period to be appropriated | 9905 | -€321,046 | €80,776 | +€401,821 |
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 7 October 2026 via checked.be.