SWING'S: 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.
SWING'S
Largest movements
- Stocks and contracts -€167,500
down €167,500 (-63.2%), from €265,000 to €97,500
- Tangible fixed assets -€18,175
down €18,175 (-3.3%), from €552,338 to €534,163
of which Land and buildings: -€12,744
- Short-term financial debts -€180,000
down €180,000 (-67.9%), from €265,000 to €85,000
- Other debts -€23,527
down €23,527 (-3.7%), from €632,006 to €608,479
- Profit (loss) carried forward +€11,132
up €11,132 (+12.1%), from -€92,252 to -€81,120
- Trade debts +€9,337
up €9,337 (+189.1%), from €4,938 to €14,275
- Gross operating margin +€78,584
up €78,584, from -€26,295 to €52,289
- Financial charges +€10,353
up €10,353 (+2703.7%), from €383 to €10,736
- Depreciation +€10,057
up €10,057 (+67.0%), from €15,004 to €25,060
- Other operating charges +€2,617
up €2,617 (+101.0%), from €2,590 to €5,207
- Staff costs -€2,003
down €2,003 (-99.5%), from €2,012 to €10
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €827,310 | €649,481 | -€177,829 | -21.5% |
| Fixed assets | 21/28 | €553,038 | €534,863 | -€18,175 | -3.3% |
| Tangible fixed assets | 22/27 | €552,338 | €534,163 | -€18,175 | -3.3% |
| Land and buildings | 22 | €539,003 | €526,259 | -€12,744 | -2.4% |
| Furniture and vehicles | 24 | €13,335 | €7,904 | -€5,431 | -40.7% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €274,272 | €114,618 | -€159,654 | -58.2% |
| Stocks and contracts in progress | 3 | €265,000 | €97,500 | -€167,500 | -63.2% |
| Stocks | 30/36 | €265,000 | €97,500 | -€167,500 | -63.2% |
| Amounts receivable within one year | 40/41 | €8,974 | €15,524 | +€6,551 | +73.0% |
| Trade receivables | 40 | €4,724 | €12,866 | +€8,142 | +172.4% |
| Other amounts receivable | 41 | €4,250 | €2,658 | -€1,592 | -37.5% |
| Current investments | 50/53 | €204 | €305 | +€101 | +49.7% |
| Cash at bank and in hand | 54/58 | €94 | €1,289 | +€1,195 | +1266.4% |
| Total equity and liabilities | 10/49 | €827,310 | €649,481 | -€177,829 | -21.5% |
| Equity | 10/15 | -€84,192 | -€73,060 | +€11,132 | +13.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€92,252 | -€81,120 | +€11,132 | +12.1% |
| Amounts payable | 17/49 | €911,502 | €722,541 | -€188,961 | -20.7% |
| Amounts payable within one year | 42/48 | €911,502 | €722,541 | -€188,961 | -20.7% |
| Financial debts | 43 | €265,000 | €85,000 | -€180,000 | -67.9% |
| Credit institutions | 430/8 | €265,000 | €85,000 | -€180,000 | -67.9% |
| Trade debts | 44 | €4,938 | €14,275 | +€9,337 | +189.1% |
| Suppliers | 440/4 | €4,938 | €14,275 | +€9,337 | +189.1% |
| Taxes, remuneration and social security | 45 | €9,558 | €14,786 | +€5,228 | +54.7% |
| Remuneration and social security | 454/9 | €9,558 | €14,786 | +€5,228 | +54.7% |
| Other amounts payable | 47/48 | €632,006 | €608,479 | -€23,527 | -3.7% |
| Non-recurring operating income | 76A | €1,095 | - | -€1,095 | |
| Remuneration, social security and pensions | 62 | €2,012 | €10 | -€2,003 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,004 | €25,060 | +€10,057 | +67.0% |
| Other operating charges | 640/8 | €2,590 | €5,207 | +€2,617 | +101.0% |
| Gross operating margin | 9900 | -€26,295 | €52,289 | +€78,584 | |
| Operating profit (loss) | 9901 | -€45,900 | €22,013 | +€67,913 | |
| Financial income | 75/76B | €0 | €2 | +€2 | +1269.2% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +1269.2% |
| Financial charges | 65/66B | €383 | €10,736 | +€10,353 | +2703.7% |
| Recurring financial charges | 65 | €383 | €10,736 | +€10,353 | +2703.7% |
| Profit (loss) for the period before taxes | 9903 | -€46,283 | €11,278 | +€57,561 | |
| Income taxes | 67/77 | - | €146 | +€146 | |
| Profit (loss) for the period | 9904 | -€46,283 | €11,132 | +€57,415 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,283 | €11,132 | +€57,415 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.