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.
SWINNEN
Largest movements
- Cash -€18,627
down €18,627 (-50.9%), from €36,610 to €17,982
mainly Other debts (-€27,226) and Investment in fixed assets (net) (-€10,952)
- Tangible fixed assets -€8,946
down €8,946 (-5.0%), from €178,196 to €169,250
of which Plant, machinery and equipment: -€12,180
- Receivables within one year +€5,640
up €5,640 (+46.3%), from €12,183 to €17,824
of which Other amounts receivable: +€6,171
- Other debts -€27,226
down €27,226 (-27.3%), from €99,843 to €72,617
- Profit (loss) carried forward +€2,834
up €2,834 (+53.0%), from -€5,343 to -€2,509
- Gross operating margin +€12,350
up €12,350 (+51.5%), from €23,988 to €36,338
- Depreciation +€3,018
up €3,018 (+17.2%), from €17,580 to €20,598
- Staff costs +€2,177
up €2,177 (+109%), from €2,006 to €4,183
- Financial charges -€1,458
down €1,458 (-19.6%), from €7,439 to €5,981
- Other operating charges +€467
up €467 (+21.0%), from €2,223 to €2,689
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 | €239,257 | €215,069 | -€24,189 | -10.1% |
| Fixed assets | 21/28 | €180,197 | €170,551 | -€9,646 | -5.4% |
| Intangible fixed assets | 21 | €2,001 | €1,301 | -€700 | -35.0% |
| Tangible fixed assets | 22/27 | €178,196 | €169,250 | -€8,946 | -5.0% |
| Land and buildings | 22 | €80,981 | €84,085 | +€3,104 | +3.8% |
| Plant, machinery and equipment | 23 | €94,464 | €82,284 | -€12,180 | -12.9% |
| Furniture and vehicles | 24 | €1,193 | €1,894 | +€701 | +58.7% |
| Other tangible fixed assets | 26 | €1,558 | €987 | -€571 | -36.6% |
| Current assets | 29/58 | €59,060 | €44,518 | -€14,542 | -24.6% |
| Stocks and contracts in progress | 3 | €6,806 | €6,167 | -€639 | -9.4% |
| Stocks | 30/36 | €6,806 | €6,167 | -€639 | -9.4% |
| Amounts receivable within one year | 40/41 | €12,183 | €17,824 | +€5,640 | +46.3% |
| Trade receivables | 40 | €599 | €69 | -€530 | -88.5% |
| Other amounts receivable | 41 | €11,584 | €17,755 | +€6,171 | +53.3% |
| Cash at bank and in hand | 54/58 | €36,610 | €17,982 | -€18,627 | -50.9% |
| Deferred charges and accrued income | 490/1 | €3,461 | €2,545 | -€916 | -26.5% |
| Total equity and liabilities | 10/49 | €239,257 | €215,069 | -€24,189 | -10.1% |
| Equity | 10/15 | €126,167 | €129,002 | +€2,834 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €112,911 | €112,911 | = | 0.0% |
| Distributable reserves | 133 | €112,911 | €112,911 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,343 | -€2,509 | +€2,834 | +53.0% |
| Amounts payable | 17/49 | €113,090 | €86,067 | -€27,023 | -23.9% |
| Amounts payable within one year | 42/48 | €112,890 | €85,867 | -€27,023 | -23.9% |
| Trade debts | 44 | €7,455 | €7,096 | -€360 | -4.8% |
| Suppliers | 440/4 | €7,455 | €7,096 | -€360 | -4.8% |
| Taxes, remuneration and social security | 45 | €5,592 | €6,155 | +€563 | +10.1% |
| Taxes | 450/3 | €2,853 | €3,455 | +€601 | +21.1% |
| Remuneration and social security | 454/9 | €2,738 | €2,700 | -€38 | -1.4% |
| Other amounts payable | 47/48 | €99,843 | €72,617 | -€27,226 | -27.3% |
| Accrued charges and deferred income | 492/3 | €200 | €200 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,006 | €4,183 | +€2,177 | +109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,580 | €20,598 | +€3,018 | +17.2% |
| Other operating charges | 640/8 | €2,223 | €2,689 | +€467 | +21.0% |
| Gross operating margin | 9900 | €23,988 | €36,338 | +€12,350 | +51.5% |
| Operating profit (loss) | 9901 | €2,180 | €8,867 | +€6,688 | +307% |
| Financial income | 75/76B | €7 | €74 | +€67 | +922% |
| Recurring financial income | 75 | €7 | €74 | +€67 | +922% |
| Financial charges | 65/66B | €7,439 | €5,981 | -€1,458 | -19.6% |
| Recurring financial charges | 65 | €7,439 | €5,981 | -€1,458 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,253 | €2,960 | +€8,213 | |
| Income taxes | 67/77 | €91 | €126 | +€35 | +38.6% |
| Profit (loss) for the period | 9904 | -€5,343 | €2,834 | +€8,178 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,343 | €2,834 | +€8,178 |
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 17 October 2026 via checked.be.