SWINNEN: 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.
What changed
SWINNEN
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€42,155
2024 · €58,966-€16,811
Equity
-€45,757
2024 · -€87,912+€42,155
Cash
€10,818
2024 · €3,981+€6,837
Balance sheet total
€373,342
2024 · €356,467+€16,876
Largest movements
Assets
- Receivables within one year +€9,855
up €9,855 (+3.6%), from €272,403 to €282,257
of which Other amounts receivable: +€26,028
- Cash +€6,837
up €6,837 (+172%), from €3,981 to €10,818
mainly Net result for the year (+€42,155) and Depreciation (+€1,315)
Equity and liabilities
- Profit (loss) carried forward +€42,155
up €42,155 (+7.4%), from -€568,815 to -€526,660
- Trade debts -€21,598
down €21,598 (-19.3%), from €112,149 to €90,551
- Accrued charges and deferred income -€4,533
down €4,533 (-11.2%), from €40,564 to €36,031
Income statement
- Taxes +€11,399
up €11,399, from -€345 to €11,054
- Gross operating margin -€10,037
down €10,037 (-15.2%), from €65,864 to €55,827
- Staff costs -€3,985
down €3,985 (-27.8%), from €14,316 to €10,331
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.
Result 2024
€58,966
Gross operating margin
-€10,037
Staff costs
+€3,985
Depreciation
-€179
Other operating charges
+€478
Other operating items
+€52
Financial income
+€352
Financial charges
-€62
Taxes
-€11,399
Result 2025
€42,155
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€8,336
Investment
-€1,499
Financing
€0
Cash 2024
€3,981
From operations (derived)
+€8,336
Net result for the year
+€42,155
Depreciation
+€1,315
Receivables within one year
-€9,855
Trade debts
-€21,598
Tax, wage and social debts
+€852
Accrued charges and deferred income
-€4,533
Investment (derived)
-€1,499
Investment in fixed assets (net)
-€1,499
Cash 2025
€10,818
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,467 | €373,342 | +€16,876 | +4.7% |
| Fixed assets | 21/28 | €80,083 | €80,267 | +€184 | +0.2% |
| Tangible fixed assets | 22/27 | €3,083 | €3,267 | +€184 | +6.0% |
| Plant, machinery and equipment | 23 | €1,722 | €2,140 | +€418 | +24.3% |
| Other tangible fixed assets | 26 | €1,361 | €1,127 | -€233 | -17.1% |
| Financial fixed assets | 28 | €77,000 | €77,000 | = | 0.0% |
| Current assets | 29/58 | €276,384 | €293,075 | +€16,691 | +6.0% |
| Amounts receivable within one year | 40/41 | €272,403 | €282,257 | +€9,855 | +3.6% |
| Trade receivables | 40 | €81,516 | €65,343 | -€16,173 | -19.8% |
| Other amounts receivable | 41 | €190,887 | €216,915 | +€26,028 | +13.6% |
| Cash at bank and in hand | 54/58 | €3,981 | €10,818 | +€6,837 | +172% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €356,467 | €373,342 | +€16,876 | +4.7% |
| Equity | 10/15 | -€87,912 | -€45,757 | +€42,155 | +48.0% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Capital | 10 | €375,000 | €375,000 | = | 0.0% |
| Issued capital | 100 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €105,902 | €105,902 | = | 0.0% |
| Non-distributable reserves | 130/1 | €63,529 | €63,529 | = | 0.0% |
| Legal reserve | 130 | €37,500 | €37,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26,029 | €0 | -€26,029 | -100% |
| Other | 1319 | - | €26,029 | +€26,029 | |
| Tax-exempt reserves | 132 | €6,730 | €6,730 | = | 0.0% |
| Distributable reserves | 133 | €35,644 | €35,644 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€568,815 | -€526,660 | +€42,155 | +7.4% |
| Provisions and deferred taxes | 16 | €280,000 | €280,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €280,000 | €280,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €280,000 | €280,000 | = | 0.0% |
| Amounts payable | 17/49 | €164,379 | €139,100 | -€25,279 | -15.4% |
| Amounts payable after more than one year | 17 | €3,920 | €3,920 | = | 0.0% |
| Other amounts payable | 178/9 | €3,920 | €3,920 | = | 0.0% |
| Amounts payable within one year | 42/48 | €119,895 | €99,149 | -€20,746 | -17.3% |
| Trade debts | 44 | €112,149 | €90,551 | -€21,598 | -19.3% |
| Suppliers | 440/4 | €112,149 | €90,551 | -€21,598 | -19.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,682 | €5,534 | +€852 | +18.2% |
| Taxes | 450/3 | €4,682 | €5,534 | +€852 | +18.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,065 | €3,065 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €40,564 | €36,031 | -€4,533 | -11.2% |
| Non-recurring operating income | 76A | €54,653 | €9,312 | -€45,341 | -83.0% |
| Remuneration, social security and pensions | 62 | €14,316 | €10,331 | -€3,985 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,135 | €1,315 | +€179 | +15.8% |
| Other operating charges | 640/8 | €1,362 | €885 | -€478 | -35.1% |
| Non-recurring operating charges | 66A | €52 | €0 | -€52 | -100% |
| Gross operating margin | 9900 | €65,864 | €55,827 | -€10,037 | -15.2% |
| Operating profit (loss) | 9901 | €48,999 | €43,297 | -€5,702 | -11.6% |
| Financial income | 75/76B | €9,835 | €10,187 | +€352 | +3.6% |
| Recurring financial income | 75 | €9,835 | €10,187 | +€352 | +3.6% |
| Financial charges | 65/66B | €212 | €274 | +€62 | +29.1% |
| Recurring financial charges | 65 | €212 | €274 | +€62 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €58,621 | €53,209 | -€5,412 | -9.2% |
| Income taxes | 67/77 | -€345 | €11,054 | +€11,399 | |
| Profit (loss) for the period | 9904 | €58,966 | €42,155 | -€16,811 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,966 | €42,155 | -€16,811 | -28.5% |
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 18 October 2026 via checked.be.