Swings & Partners: what changed
What changed
Swings & Partners
NACE 66.220, Insurance agents and brokers
filed annual accounts (NBB)
Net result for the year
€351,502
2024 · €468,499-€116,997
Equity
€1.2m
2024 · €1.1m+€191,452
Cash
€176,553
2024 · €70,815+€105,738
Balance sheet total
€1.5m
2024 · €1.4m+€171,596
Largest movements
Assets
- Current investments +€170,335
up €170,335 (+38.7%), from €440,635 to €610,970
- Intangible fixed assets -€132,283
down €132,283 (-21.0%), from €629,429 to €497,146
- Cash +€105,738
up €105,738 (+149%), from €70,815 to €176,553
mainly Net result for the year (+€351,502) and Depreciation (+€155,014)
- Receivables within one year +€45,931
up €45,931 (+69.8%), from €65,761 to €111,692
of which Trade receivables: +€48,429
- Tangible fixed assets -€17,134
down €17,134 (-13.0%), from €132,099 to €114,966
of which Other tangible fixed assets: -€13,179
Equity and liabilities
- Profit (loss) carried forward +€191,452
up €191,452 (+19.0%), from €1.0m to €1.2m
Income statement
- Staff costs +€90,677
up €90,677 (+25.7%), from €352,768 to €443,445
- Gross operating margin -€78,318
down €78,318 (-6.9%), from €1.1m to €1.1m
- Taxes -€40,111
down €40,111 (-25.5%), from €157,432 to €117,321
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.
Result 2024
€468,499
Gross operating margin
-€78,318
Staff costs
-€90,677
Depreciation
+€261
Other operating charges
+€102
Financial income
+€2,862
Financial charges
+€8,663
Taxes
+€40,111
Result 2025
€351,502
raises the resultlowers the result
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.
From operations
+€441,720
Investment
-€175,932
Financing
-€160,050
Cash 2024
€70,815
From operations (derived)
+€441,720
Net result for the year
+€351,502
Depreciation
+€155,014
Receivables within one year
-€45,931
Deferred charges and accrued income
+€991
Trade debts
-€2,917
Tax, wage and social debts
-€3,565
Other debts
-€7,991
Accrued charges and deferred income
-€5,383
Investment (derived)
-€175,932
Investment in fixed assets (net)
-€5,597
Current investments
-€170,335
Financing
-€160,050
Contributions, distributions and other
-€160,050
Cash 2025
€176,553
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,355,578 | €1,527,174 | +€171,596 | +12.7% |
| Fixed assets | 21/28 | €764,678 | €615,261 | -€149,417 | -19.5% |
| Intangible fixed assets | 21 | €629,429 | €497,146 | -€132,283 | -21.0% |
| Tangible fixed assets | 22/27 | €132,099 | €114,966 | -€17,134 | -13.0% |
| Land and buildings | 22 | €1,741 | €1,427 | -€315 | -18.1% |
| Plant, machinery and equipment | 23 | €7,855 | €6,912 | -€943 | -12.0% |
| Furniture and vehicles | 24 | €8,075 | €5,379 | -€2,696 | -33.4% |
| Other tangible fixed assets | 26 | €114,428 | €101,249 | -€13,179 | -11.5% |
| Financial fixed assets | 28 | €3,150 | €3,150 | = | 0.0% |
| Current assets | 29/58 | €590,900 | €911,913 | +€321,013 | +54.3% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €65,761 | €111,692 | +€45,931 | +69.8% |
| Trade receivables | 40 | €63,197 | €111,626 | +€48,429 | +76.6% |
| Other amounts receivable | 41 | €2,564 | €66 | -€2,498 | -97.4% |
| Current investments | 50/53 | €440,635 | €610,970 | +€170,335 | +38.7% |
| Cash at bank and in hand | 54/58 | €70,815 | €176,553 | +€105,738 | +149% |
| Deferred charges and accrued income | 490/1 | €3,689 | €2,698 | -€991 | -26.9% |
| Total equity and liabilities | 10/49 | €1,355,578 | €1,527,174 | +€171,596 | +12.7% |
| Equity | 10/15 | €1,055,625 | €1,247,077 | +€191,452 | +18.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,869 | €27,869 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €26,009 | €26,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,009,164 | €1,200,616 | +€191,452 | +19.0% |
| Amounts payable | 17/49 | €299,953 | €280,098 | -€19,855 | -6.6% |
| Amounts payable within one year | 42/48 | €273,614 | €259,142 | -€14,472 | -5.3% |
| Trade debts | 44 | €37,340 | €34,423 | -€2,917 | -7.8% |
| Suppliers | 440/4 | €37,340 | €34,423 | -€2,917 | -7.8% |
| Taxes, remuneration and social security | 45 | €68,171 | €64,606 | -€3,565 | -5.2% |
| Taxes | 450/3 | €20,953 | - | -€20,953 | |
| Remuneration and social security | 454/9 | €47,218 | €64,606 | +€17,388 | +36.8% |
| Other amounts payable | 47/48 | €168,104 | €160,113 | -€7,991 | -4.8% |
| Accrued charges and deferred income | 492/3 | €26,338 | €20,955 | -€5,383 | -20.4% |
| Remuneration, social security and pensions | 62 | €352,768 | €443,445 | +€90,677 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,274 | €155,014 | -€261 | -0.2% |
| Other operating charges | 640/8 | €1,965 | €1,862 | -€102 | -5.2% |
| Gross operating margin | 9900 | €1,140,727 | €1,062,408 | -€78,318 | -6.9% |
| Operating profit (loss) | 9901 | €630,720 | €462,087 | -€168,633 | -26.7% |
| Financial income | 75/76B | €5,093 | €7,955 | +€2,862 | +56.2% |
| Recurring financial income | 75 | €5,093 | €7,955 | +€2,862 | +56.2% |
| Financial charges | 65/66B | €9,883 | €1,220 | -€8,663 | -87.7% |
| Recurring financial charges | 65 | €9,883 | €1,220 | -€8,663 | -87.7% |
| Profit (loss) for the period before taxes | 9903 | €625,930 | €468,822 | -€157,108 | -25.1% |
| Income taxes | 67/77 | €157,432 | €117,321 | -€40,111 | -25.5% |
| Profit (loss) for the period | 9904 | €468,499 | €351,502 | -€116,997 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €468,499 | €351,502 | -€116,997 | -25.0% |
Next steps
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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 4 November 2026 via checked.be.