Swiftpharma: 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.
Swiftpharma
Largest movements
- Intangible fixed assets +€1.0m
up €1.0m (+100.6%), from €1.0m to €2.0m
- Cash -€874,030
down €874,030 (-66.8%), from €1.3m to €433,880
mainly Investment in fixed assets (net) (-€2.0m) and Net result for the year (-€1.8m)
- Receivables within one year -€651,390
down €651,390 (-71.9%), from €906,516 to €255,126
of which Trade receivables: -€506,025
- Tangible fixed assets +€571,907
up €571,907 (+36.8%), from €1.6m to €2.1m
of which Other tangible fixed assets: +€436,234
- Debts after one year +€2.5m
up €2.5m (+252.0%), from €1.0m to €3.5m
- Profit (loss) carried forward -€1.8m
down €1.8m (-92.9%), from -€1.9m to -€3.6m
- Trade debts -€774,193
down €774,193 (-67.6%), from €1.1m to €371,553
- Gross operating margin +€1.4m
up €1.4m (+98.4%), from -€1.4m to -€22,099
- Staff costs +€974,118
up €974,118 (+459.9%), from €211,793 to €1.2m
- Depreciation +€233,709
up €233,709 (+112.7%), from €207,313 to €441,022
- Other operating charges +€16,885
up €16,885 (+1257.9%), from €1,342 to €18,227
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 | €4,832,664 | €4,898,030 | +€65,366 | +1.4% |
| Fixed assets | 21/28 | €2,593,738 | €4,180,203 | +€1.6m | +61.2% |
| Intangible fixed assets | 21 | €1,008,509 | €2,023,068 | +€1.0m | +100.6% |
| Tangible fixed assets | 22/27 | €1,555,147 | €2,127,054 | +€571,907 | +36.8% |
| Plant, machinery and equipment | 23 | €633,501 | €740,278 | +€106,777 | +16.9% |
| Furniture and vehicles | 24 | €18,028 | €46,923 | +€28,896 | +160.3% |
| Other tangible fixed assets | 26 | €903,619 | €1,339,853 | +€436,234 | +48.3% |
| Financial fixed assets | 28 | €30,082 | €30,082 | = | 0.0% |
| Current assets | 29/58 | €2,238,926 | €717,826 | -€1.5m | -67.9% |
| Amounts receivable within one year | 40/41 | €906,516 | €255,126 | -€651,390 | -71.9% |
| Trade receivables | 40 | €578,037 | €72,013 | -€506,025 | -87.5% |
| Other amounts receivable | 41 | €328,478 | €183,113 | -€145,365 | -44.3% |
| Cash at bank and in hand | 54/58 | €1,307,910 | €433,880 | -€874,030 | -66.8% |
| Deferred charges and accrued income | 490/1 | €24,500 | €28,821 | +€4,321 | +17.6% |
| Total equity and liabilities | 10/49 | €4,832,664 | €4,898,030 | +€65,366 | +1.4% |
| Equity | 10/15 | €2,585,634 | €834,755 | -€1.8m | -67.7% |
| Contributions | 10/11 | €4,412,500 | €4,412,500 | = | 0.0% |
| Reserves | 13 | €57,060 | €57,060 | = | 0.0% |
| Distributable reserves | 133 | €57,060 | €57,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,883,926 | -€3,634,806 | -€1.8m | -92.9% |
| Amounts payable | 17/49 | €2,247,030 | €4,063,275 | +€1.8m | +80.8% |
| Amounts payable after more than one year | 17 | €1,000,000 | €3,520,134 | +€2.5m | +252.0% |
| Financial debts | 170/4 | €1,000,000 | €3,520,134 | +€2.5m | +252.0% |
| Amounts payable within one year | 42/48 | €1,247,030 | €543,011 | -€704,019 | -56.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €16,727 | +€16,727 | |
| Credit institutions | 430/8 | - | €16,727 | +€16,727 | |
| Trade debts | 44 | €1,145,745 | €371,553 | -€774,193 | -67.6% |
| Suppliers | 440/4 | €1,145,745 | €371,553 | -€774,193 | -67.6% |
| Taxes, remuneration and social security | 45 | €65,264 | €92,224 | +€26,960 | +41.3% |
| Taxes | 450/3 | €26,241 | €998 | -€25,244 | -96.2% |
| Remuneration and social security | 454/9 | €39,022 | €91,226 | +€52,204 | +133.8% |
| Other amounts payable | 47/48 | €36,021 | €62,507 | +€26,486 | +73.5% |
| Accrued charges and deferred income | 492/3 | - | €131 | +€131 | |
| Remuneration, social security and pensions | 62 | €211,793 | €1,185,910 | +€974,118 | +459.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,313 | €441,022 | +€233,709 | +112.7% |
| Other operating charges | 640/8 | €1,342 | €18,227 | +€16,885 | +1257.9% |
| Gross operating margin | 9900 | -€1,382,412 | -€22,099 | +€1.4m | +98.4% |
| Operating profit (loss) | 9901 | -€1,802,860 | -€1,667,259 | +€135,601 | +7.5% |
| Financial income | 75/76B | €9,467 | €4,166 | -€5,301 | -56.0% |
| Recurring financial income | 75 | €9,467 | €4,166 | -€5,301 | -56.0% |
| Financial charges | 65/66B | €90,581 | €86,789 | -€3,792 | -4.2% |
| Recurring financial charges | 65 | €90,581 | €86,789 | -€3,792 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,883,974 | -€1,749,882 | +€134,092 | +7.1% |
| Income taxes | 67/77 | -€48 | €998 | +€1,046 | |
| Profit (loss) for the period | 9904 | -€1,883,926 | -€1,750,880 | +€133,047 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,883,926 | -€1,750,880 | +€133,047 | +7.1% |
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 9 October 2026 via checked.be.