Swinkels Projects: what changed
Two financial 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.
Swinkels Projects
Largest movements
- Cash +€9,724
up €9,724 (+28.6%), from €34,038 to €43,762
mainly Net result for the year (+€10,330) and Depreciation (+€8,448)
- Receivables within one year +€4,742
up €4,742 (+32.8%), from €14,443 to €19,185
of which Trade receivables: +€10,169
- Reserves +€10,330
up €10,330 (+22.2%), from €46,501 to €56,831
of which Distributable reserves: +€10,330
- Other debts +€4,468
up €4,468 (+75.5%), from €5,921 to €10,389
- Accrued charges and deferred income +€2,236
up €2,236 (+341%), from €656 to €2,892
- Tax, wage and social debts -€1,080
down €1,080 (-24.4%), from €4,421 to €3,341
- Gross operating margin +€9,982
up €9,982 (+57.1%), from €17,470 to €27,452
- Taxes +€2,734
up €2,734 (+209%), from €1,306 to €4,041
- Depreciation -€1,350
down €1,350 (-13.8%), from €9,798 to €8,448
- Financial income -€790
down €790 (-99.9%), from €790 to €0
- Other operating charges +€595
up €595 (+91.1%), from €653 to €1,247
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.
Derived cash bridge
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 | €71,143 | €86,536 | +€15,393 | +21.6% |
| Fixed assets | 21/28 | €22,563 | €22,981 | +€418 | +1.9% |
| Tangible fixed assets | 22/27 | €22,563 | €22,981 | +€418 | +1.9% |
| Land and buildings | 22 | - | €3,402 | +€3,402 | |
| Plant, machinery and equipment | 23 | €1,937 | €5,880 | +€3,944 | +204% |
| Furniture and vehicles | 24 | €20,627 | €13,698 | -€6,928 | -33.6% |
| Current assets | 29/58 | €48,580 | €63,555 | +€14,975 | +30.8% |
| Amounts receivable within one year | 40/41 | €14,443 | €19,185 | +€4,742 | +32.8% |
| Trade receivables | 40 | €8,956 | €19,125 | +€10,169 | +114% |
| Other amounts receivable | 41 | €5,487 | €60 | -€5,427 | -98.9% |
| Cash at bank and in hand | 54/58 | €34,038 | €43,762 | +€9,724 | +28.6% |
| Deferred charges and accrued income | 490/1 | €98 | €608 | +€510 | +520% |
| Total equity and liabilities | 10/49 | €71,143 | €86,536 | +€15,393 | +21.6% |
| Equity | 10/15 | €58,901 | €69,231 | +€10,330 | +17.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €46,501 | €56,831 | +€10,330 | +22.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €44,641 | €54,971 | +€10,330 | +23.1% |
| Amounts payable | 17/49 | €12,242 | €17,305 | +€5,064 | +41.4% |
| Amounts payable within one year | 42/48 | €11,586 | €14,413 | +€2,827 | +24.4% |
| Trade debts | 44 | €1,244 | €684 | -€560 | -45.0% |
| Suppliers | 440/4 | €1,244 | €684 | -€560 | -45.0% |
| Taxes, remuneration and social security | 45 | €4,421 | €3,341 | -€1,080 | -24.4% |
| Taxes | 450/3 | €4,421 | €3,341 | -€1,080 | -24.4% |
| Other amounts payable | 47/48 | €5,921 | €10,389 | +€4,468 | +75.5% |
| Accrued charges and deferred income | 492/3 | €656 | €2,892 | +€2,236 | +341% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,798 | €8,448 | -€1,350 | -13.8% |
| Other operating charges | 640/8 | €653 | €1,247 | +€595 | +91.1% |
| Gross operating margin | 9900 | €17,470 | €27,452 | +€9,982 | +57.1% |
| Operating profit (loss) | 9901 | €7,020 | €17,757 | +€10,737 | +153% |
| Financial income | 75/76B | €790 | €0 | -€790 | -99.9% |
| Recurring financial income | 75 | €790 | €0 | -€790 | -99.9% |
| Financial charges | 65/66B | €3,565 | €3,387 | -€178 | -5.0% |
| Recurring financial charges | 65 | €249 | €71 | -€178 | -71.6% |
| Non-recurring financial charges | 66B | €3,316 | €3,316 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €4,244 | €14,370 | +€10,126 | +239% |
| Income taxes | 67/77 | €1,306 | €4,041 | +€2,734 | +209% |
| Profit (loss) for the period | 9904 | €2,938 | €10,330 | +€7,391 | +252% |
| Profit (loss) for the period to be appropriated | 9905 | €2,938 | €10,330 | +€7,391 | +252% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.