SWIM: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
SWIM
Largest movements
- Receivables within one year +€39,330
up €39,330 (+51.3%), from €76,690 to €116,019
of which Trade receivables: +€30,696
- Cash -€22,358
down €22,358 (-69.0%), from €32,388 to €10,031
mainly Contributions, distributions and other (-€147,782) and Receivables within one year (-€39,330)
- Tangible fixed assets +€5,667
up €5,667 (+6.8%), from €83,572 to €89,239
of which Furniture and vehicles: +€7,550
- Other debts +€60,131
up €60,131 (+80.1%), from €75,081 to €135,212
- Reserves -€35,702
down €35,702 (-45.9%), from €77,782 to €42,079
- Gross operating margin +€42,682
up €42,682 (+39.5%), from €108,115 to €150,797
- Depreciation +€4,607
up €4,607 (+37.2%), from €12,371 to €16,977
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €193,149 | €215,789 | +€22,639 | +11.7% |
| Fixed assets | 21/28 | €84,072 | €89,739 | +€5,667 | +6.7% |
| Tangible fixed assets | 22/27 | €83,572 | €89,239 | +€5,667 | +6.8% |
| Land and buildings | 22 | €26,741 | €23,779 | -€2,962 | -11.1% |
| Plant, machinery and equipment | 23 | €4,974 | €6,053 | +€1,079 | +21.7% |
| Furniture and vehicles | 24 | €51,857 | €59,407 | +€7,550 | +14.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €109,078 | €126,050 | +€16,972 | +15.6% |
| Amounts receivable within one year | 40/41 | €76,690 | €116,019 | +€39,330 | +51.3% |
| Trade receivables | 40 | €69,182 | €99,878 | +€30,696 | +44.4% |
| Other amounts receivable | 41 | €7,508 | €16,141 | +€8,634 | +115% |
| Cash at bank and in hand | 54/58 | €32,388 | €10,031 | -€22,358 | -69.0% |
| Total equity and liabilities | 10/49 | €193,149 | €215,789 | +€22,639 | +11.7% |
| Equity | 10/15 | €98,242 | €62,539 | -€35,702 | -36.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Contributions outside capital | 11 | €20,460 | €20,460 | = | 0.0% |
| Share premium | 1100/10 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | €20,460 | €1,860 | -€18,600 | -90.9% |
| Reserves | 13 | €77,782 | €42,079 | -€35,702 | -45.9% |
| Distributable reserves | 133 | €77,782 | €42,079 | -€35,702 | -45.9% |
| Amounts payable | 17/49 | €94,908 | €153,249 | +€58,342 | +61.5% |
| Amounts payable within one year | 42/48 | €94,908 | €153,249 | +€58,342 | +61.5% |
| Trade debts | 44 | €296 | €194 | -€101 | -34.3% |
| Suppliers | 440/4 | €296 | €194 | -€101 | -34.3% |
| Taxes, remuneration and social security | 45 | €19,531 | €17,843 | -€1,688 | -8.6% |
| Taxes | 450/3 | €17,016 | €15,329 | -€1,687 | -9.9% |
| Remuneration and social security | 454/9 | €2,515 | €2,514 | -€1 | 0.0% |
| Other amounts payable | 47/48 | €75,081 | €135,212 | +€60,131 | +80.1% |
| Non-recurring operating income | 76A | €2,045 | - | -€2,045 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,371 | €16,977 | +€4,607 | +37.2% |
| Other operating charges | 640/8 | €994 | €1,520 | +€526 | +52.9% |
| Gross operating margin | 9900 | €108,115 | €150,797 | +€42,682 | +39.5% |
| Operating profit (loss) | 9901 | €94,750 | €132,299 | +€37,549 | +39.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,776 | €1,502 | -€274 | -15.4% |
| Recurring financial charges | 65 | €1,776 | €1,502 | -€274 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €92,974 | €130,797 | +€37,823 | +40.7% |
| Income taxes | 67/77 | €20,000 | €18,718 | -€1,282 | -6.4% |
| Profit (loss) for the period | 9904 | €72,974 | €112,079 | +€39,105 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €72,974 | €112,079 | +€39,105 | +53.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.