SWIFT LINE: 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.
SWIFT LINE
Largest movements
- Cash +€190,386
up €190,386 (+920.2%), from €20,690 to €211,076
mainly Net result for the year (+€84,806) and Investment in fixed assets (net) (+€69,420)
- Tangible fixed assets -€79,641
down €79,641 (-49.7%), from €160,171 to €80,530
of which Land and buildings: -€67,491
- Reserves +€84,806
up €84,806 (+83.2%), from €101,981 to €186,788
- Tax, wage and social debts +€33,407
up €33,407 (+1431.8%), from €2,333 to €35,740
- Debts after one year -€7,477
down €7,477 (-34.8%), from €21,509 to €14,032
- Gross operating margin +€108,915
up €108,915 (+276.8%), from €39,344 to €148,258
- Taxes +€41,074
up €41,074 (+1146.3%), from €3,583 to €44,657
- Depreciation -€2,833
down €2,833 (-21.7%), from €13,054 to €10,221
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,706 | €295,485 | +€108,779 | +58.3% |
| Fixed assets | 21/28 | €160,171 | €80,530 | -€79,641 | -49.7% |
| Tangible fixed assets | 22/27 | €160,171 | €80,530 | -€79,641 | -49.7% |
| Land and buildings | 22 | €139,046 | €71,555 | -€67,491 | -48.5% |
| Plant, machinery and equipment | 23 | €4,153 | - | -€4,153 | |
| Furniture and vehicles | 24 | €16,639 | €8,975 | -€7,665 | -46.1% |
| Other tangible fixed assets | 26 | €333 | - | -€333 | |
| Current assets | 29/58 | €26,534 | €214,955 | +€188,420 | +710.1% |
| Amounts receivable within one year | 40/41 | €4,394 | €3,344 | -€1,050 | -23.9% |
| Trade receivables | 40 | €798 | €314 | -€484 | -60.7% |
| Other amounts receivable | 41 | €3,596 | €3,030 | -€566 | -15.7% |
| Cash at bank and in hand | 54/58 | €20,690 | €211,076 | +€190,386 | +920.2% |
| Deferred charges and accrued income | 490/1 | €1,450 | €535 | -€916 | -63.1% |
| Total equity and liabilities | 10/49 | €186,706 | €295,485 | +€108,779 | +58.3% |
| Equity | 10/15 | €143,412 | €228,218 | +€84,806 | +59.1% |
| Contributions | 10/11 | €41,430 | €41,430 | = | 0.0% |
| Reserves | 13 | €101,981 | €186,788 | +€84,806 | +83.2% |
| Distributable reserves | 133 | €101,981 | €186,788 | +€84,806 | +83.2% |
| Amounts payable | 17/49 | €43,294 | €67,267 | +€23,973 | +55.4% |
| Amounts payable after more than one year | 17 | €21,509 | €14,032 | -€7,477 | -34.8% |
| Financial debts | 170/4 | €21,509 | €14,032 | -€7,477 | -34.8% |
| Amounts payable within one year | 42/48 | €21,785 | €53,235 | +€31,450 | +144.4% |
| Current portion of amounts payable after more than one year | 42 | €7,150 | €7,493 | +€343 | +4.8% |
| Financial debts | 43 | €485 | €485 | = | 0.0% |
| Credit institutions | 430/8 | €485 | €485 | = | 0.0% |
| Trade debts | 44 | €1,910 | €1,072 | -€839 | -43.9% |
| Suppliers | 440/4 | €1,910 | €1,072 | -€839 | -43.9% |
| Taxes, remuneration and social security | 45 | €2,333 | €35,740 | +€33,407 | +1431.8% |
| Taxes | 450/3 | €2,333 | €35,740 | +€33,407 | +1431.8% |
| Other amounts payable | 47/48 | €9,907 | €8,445 | -€1,462 | -14.8% |
| Non-recurring operating income | 76A | - | €121,562 | +€121,562 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,054 | €10,221 | -€2,833 | -21.7% |
| Other operating charges | 640/8 | €7,038 | €6,760 | -€278 | -4.0% |
| Gross operating margin | 9900 | €39,344 | €148,258 | +€108,915 | +276.8% |
| Operating profit (loss) | 9901 | €19,251 | €131,277 | +€112,026 | +581.9% |
| Financial charges | 65/66B | €2,188 | €1,813 | -€375 | -17.1% |
| Recurring financial charges | 65 | €2,188 | €1,813 | -€375 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €17,063 | €129,463 | +€112,400 | +658.7% |
| Income taxes | 67/77 | €3,583 | €44,657 | +€41,074 | +1146.3% |
| Profit (loss) for the period | 9904 | €13,480 | €84,806 | +€71,326 | +529.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,480 | €84,806 | +€71,326 | +529.1% |
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 9 October 2026 via checked.be.