SWINGDERS: what changed
SWINGDERS
Largest movements
- Cash +€140,864
up €140,864 (+48.2%), from €292,052 to €432,916
mainly Net result for the year (+€119,507) and Tax, wage and social debts (+€11,087)
- Tangible fixed assets -€9,689
down €9,689 (-54.3%), from €17,832 to €8,143
of which Furniture and vehicles: -€9,300
- Receivables within one year -€7,600
down €7,600 (-11.8%), from €64,281 to €56,681
of which Trade receivables: -€7,600
- Profit (loss) carried forward +€119,507
up €119,507 (+59.3%), from €201,476 to €320,983
- Tax, wage and social debts +€11,087
up €11,087 (+58.9%), from €18,830 to €29,917
of which Taxes: +€11,528
- Debts after one year -€7,599
no longer reported in 2025 (was €7,599)
- Gross operating margin +€52,806
up €52,806 (+26.9%), from €196,369 to €249,175
- Staff costs -€21,017
down €21,017 (-20.1%), from €104,306 to €83,289
- Taxes +€16,615
up €16,615 (+86.6%), from €19,178 to €35,793
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 | €374,165 | €499,804 | +€125,639 | +33.6% |
| Fixed assets | 21/28 | €17,832 | €8,143 | -€9,689 | -54.3% |
| Tangible fixed assets | 22/27 | €17,832 | €8,143 | -€9,689 | -54.3% |
| Plant, machinery and equipment | 23 | €389 | - | -€389 | |
| Furniture and vehicles | 24 | €17,443 | €8,143 | -€9,300 | -53.3% |
| Current assets | 29/58 | €356,333 | €491,661 | +€135,328 | +38.0% |
| Amounts receivable within one year | 40/41 | €64,281 | €56,681 | -€7,600 | -11.8% |
| Trade receivables | 40 | €55,741 | €48,141 | -€7,600 | -13.6% |
| Other amounts receivable | 41 | €8,540 | €8,540 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €292,052 | €432,916 | +€140,864 | +48.2% |
| Deferred charges and accrued income | 490/1 | - | €2,064 | +€2,064 | |
| Total equity and liabilities | 10/49 | €374,165 | €499,804 | +€125,639 | +33.6% |
| Equity | 10/15 | €338,955 | €458,463 | +€119,508 | +35.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Other | 1109/19 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €134,479 | €134,480 | +€1 | 0.0% |
| Distributable reserves | 133 | €134,479 | €134,480 | +€1 | 0.0% |
| Profit (loss) carried forward | 14 | €201,476 | €320,983 | +€119,507 | +59.3% |
| Amounts payable | 17/49 | €35,210 | €41,341 | +€6,131 | +17.4% |
| Amounts payable after more than one year | 17 | €7,599 | - | -€7,599 | |
| Financial debts | 170/4 | €7,599 | - | -€7,599 | |
| Amounts payable within one year | 42/48 | €27,611 | €41,095 | +€13,484 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | €8,212 | €7,599 | -€613 | -7.5% |
| Trade debts | 44 | €568 | €1,462 | +€894 | +157% |
| Suppliers | 440/4 | €568 | €1,462 | +€894 | +157% |
| Taxes, remuneration and social security | 45 | €18,830 | €29,917 | +€11,087 | +58.9% |
| Taxes | 450/3 | €15,551 | €27,079 | +€11,528 | +74.1% |
| Remuneration and social security | 454/9 | €3,279 | €2,838 | -€441 | -13.4% |
| Other amounts payable | 47/48 | - | €2,117 | +€2,117 | |
| Accrued charges and deferred income | 492/3 | - | €246 | +€246 | |
| Remuneration, social security and pensions | 62 | €104,306 | €83,289 | -€21,017 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,479 | €9,690 | -€789 | -7.5% |
| Other operating charges | 640/8 | €184 | €596 | +€412 | +224% |
| Gross operating margin | 9900 | €196,369 | €249,175 | +€52,806 | +26.9% |
| Operating profit (loss) | 9901 | €81,400 | €155,600 | +€74,200 | +91.2% |
| Financial charges | 65/66B | €250 | €300 | +€50 | +20.0% |
| Recurring financial charges | 65 | €250 | €300 | +€50 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €81,150 | €155,300 | +€74,150 | +91.4% |
| Income taxes | 67/77 | €19,178 | €35,793 | +€16,615 | +86.6% |
| Profit (loss) for the period | 9904 | €61,972 | €119,507 | +€57,535 | +92.8% |
| Profit (loss) for the period to be appropriated | 9905 | €61,972 | €119,507 | +€57,535 | +92.8% |
Next steps
Calculation and sources
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 7 November 2026 via checked.be.