SWIFT SKILLS: 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 SKILLS
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+92.4%), from €1.2m to €2.4m
of which Trade receivables: +€1.1m
- Cash -€417,799
down €417,799 (-85.3%), from €489,823 to €72,025
mainly Contributions, distributions and other (-€1.2m) and Receivables within one year (-€1.2m)
- Intangible fixed assets +€411,315
up €411,315 (+46.5%), from €885,307 to €1.3m
- Tax, wage and social debts +€318,224
up €318,224 (+151%), from €210,748 to €528,972
of which Taxes: +€268,661
- Reserves +€238,195
up €238,195 (+18.6%), from €1.3m to €1.5m
- Other debts +€200,000
up €200,000 (+20.0%), from €1.0m to €1.2m
- Short-term financial debts +€199,908
up €199,908 (+200%), from €100,092 to €300,000
- Trade debts +€180,163
up €180,163 (+348%), from €51,763 to €231,926
- Gross operating margin +€576,815
up €576,815 (+28.4%), from €2.0m to €2.6m
- Staff costs +€364,872
up €364,872 (+159%), from €229,117 to €593,989
- Taxes -€255,205
down €255,205 (-75.8%), from €336,500 to €81,295
- Other operating charges +€125,898
up €125,898 (+1,263%), from €9,965 to €135,863
- Write-downs -€85,548
down €85,548 (-8,598%), from -€995 to -€86,543
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 | €2,667,623 | €3,803,670 | +€1.1m | +42.6% |
| Fixed assets | 21/28 | €889,945 | €1,310,056 | +€420,111 | +47.2% |
| Intangible fixed assets | 21 | €885,307 | €1,296,622 | +€411,315 | +46.5% |
| Tangible fixed assets | 22/27 | €4,323 | €13,119 | +€8,797 | +203% |
| Plant, machinery and equipment | 23 | €4,323 | €8,653 | +€4,331 | +100% |
| Furniture and vehicles | 24 | - | €4,466 | +€4,466 | |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €1,777,678 | €2,493,613 | +€715,935 | +40.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,244,720 | €2,394,768 | +€1.2m | +92.4% |
| Trade receivables | 40 | €1,244,720 | €2,385,748 | +€1.1m | +91.7% |
| Other amounts receivable | 41 | €0 | €9,020 | +€9,020 | |
| Cash at bank and in hand | 54/58 | €489,823 | €72,025 | -€417,799 | -85.3% |
| Deferred charges and accrued income | 490/1 | €43,135 | €26,821 | -€16,315 | -37.8% |
| Total equity and liabilities | 10/49 | €2,667,623 | €3,803,670 | +€1.1m | +42.6% |
| Equity | 10/15 | €1,301,020 | €1,539,215 | +€238,195 | +18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,282,420 | €1,520,615 | +€238,195 | +18.6% |
| Distributable reserves | 133 | €1,282,420 | €1,520,615 | +€238,195 | +18.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,366,603 | €2,264,454 | +€897,851 | +65.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,362,603 | €2,260,898 | +€898,295 | +65.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €100,092 | €300,000 | +€199,908 | +200% |
| Credit institutions | 430/8 | €100,092 | €300,000 | +€199,908 | +200% |
| Trade debts | 44 | €51,763 | €231,926 | +€180,163 | +348% |
| Suppliers | 440/4 | €51,763 | €231,926 | +€180,163 | +348% |
| Taxes, remuneration and social security | 45 | €210,748 | €528,972 | +€318,224 | +151% |
| Taxes | 450/3 | €171,417 | €440,078 | +€268,661 | +157% |
| Remuneration and social security | 454/9 | €39,331 | €88,894 | +€49,563 | +126% |
| Other amounts payable | 47/48 | €1,000,000 | €1,200,000 | +€200,000 | +20.0% |
| Accrued charges and deferred income | 492/3 | €4,000 | €3,556 | -€444 | -11.1% |
| Non-recurring operating income | 76A | €4,564 | €0 | -€4,564 | -100% |
| Remuneration, social security and pensions | 62 | €229,117 | €593,989 | +€364,872 | +159% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €368,105 | €434,570 | +€66,465 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€995 | -€86,543 | -€85,548 | -8,598% |
| Other operating charges | 640/8 | €9,965 | €135,863 | +€125,898 | +1,263% |
| Non-recurring operating charges | 66A | €2,347 | €167 | -€2,181 | -92.9% |
| Gross operating margin | 9900 | €2,028,051 | €2,604,867 | +€576,815 | +28.4% |
| Operating profit (loss) | 9901 | €1,419,512 | €1,526,822 | +€107,309 | +7.6% |
| Financial income | 75/76B | €5,675 | €7,602 | +€1,927 | +33.9% |
| Recurring financial income | 75 | €5,675 | €7,602 | +€1,927 | +33.9% |
| Financial charges | 65/66B | €34,752 | €14,933 | -€19,819 | -57.0% |
| Recurring financial charges | 65 | €34,752 | €14,933 | -€19,819 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €1,390,436 | €1,519,490 | +€129,054 | +9.3% |
| Income taxes | 67/77 | €336,500 | €81,295 | -€255,205 | -75.8% |
| Profit (loss) for the period | 9904 | €1,053,936 | €1,438,195 | +€384,260 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,053,936 | €1,438,195 | +€384,260 | +36.5% |
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 1 November 2026 via checked.be.