SWINREG: 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.
SWINREG
Largest movements
- Receivables within one year -€49,694
down €49,694 (-69.9%), from €71,143 to €21,449
of which Trade receivables: -€60,503
- Tangible fixed assets +€29,118
up €29,118 (+9.1%), from €318,715 to €347,833
of which Land and buildings: +€26,852
- Cash -€27,249
down €27,249 (-34.1%), from €79,988 to €52,739
mainly Contributions, distributions and other (-€90,000) and Investment in fixed assets (net) (-€47,979)
- Reserves -€86,849
down €86,849 (-32.4%), from €268,460 to €181,611
of which Distributable reserves: -€86,849
- Other debts +€76,400
up €76,400 (+9,779%), from €781 to €77,181
- Debts after one year -€26,671
down €26,671 (-18.7%), from €142,298 to €115,627
- Tax, wage and social debts -€8,551
down €8,551 (-100%), from €8,551 to €0
of which Taxes: -€8,551
- Gross operating margin -€61,220
down €61,220 (-62.3%), from €98,255 to €37,035
- Taxes -€14,485
down €14,485 (-87.5%), from €16,551 to €2,066
- Other operating charges +€9,202
up €9,202 (+648%), from €1,419 to €10,621
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €469,845 | €422,836 | -€47,010 | -10.0% |
| Fixed assets | 21/28 | €318,715 | €348,648 | +€29,933 | +9.4% |
| Tangible fixed assets | 22/27 | €318,715 | €347,833 | +€29,118 | +9.1% |
| Land and buildings | 22 | €318,715 | €345,567 | +€26,852 | +8.4% |
| Plant, machinery and equipment | 23 | €0 | €2,266 | +€2,266 | |
| Financial fixed assets | 28 | - | €815 | +€815 | |
| Current assets | 29/58 | €151,130 | €74,187 | -€76,943 | -50.9% |
| Amounts receivable within one year | 40/41 | €71,143 | €21,449 | -€49,694 | -69.9% |
| Trade receivables | 40 | €70,093 | €9,590 | -€60,503 | -86.3% |
| Other amounts receivable | 41 | €1,050 | €11,859 | +€10,809 | +1,030% |
| Cash at bank and in hand | 54/58 | €79,988 | €52,739 | -€27,249 | -34.1% |
| Total equity and liabilities | 10/49 | €469,845 | €422,836 | -€47,010 | -10.0% |
| Equity | 10/15 | €287,010 | €200,161 | -€86,849 | -30.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €268,460 | €181,611 | -€86,849 | -32.4% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €266,605 | €179,756 | -€86,849 | -32.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €182,836 | €222,674 | +€39,839 | +21.8% |
| Amounts payable after more than one year | 17 | €142,298 | €115,627 | -€26,671 | -18.7% |
| Financial debts | 170/4 | €142,298 | €115,627 | -€26,671 | -18.7% |
| Amounts payable within one year | 42/48 | €40,538 | €107,047 | +€66,509 | +164% |
| Current portion of amounts payable after more than one year | 42 | €26,266 | €26,671 | +€405 | +1.5% |
| Financial debts | 43 | €1,595 | €0 | -€1,595 | -100% |
| Credit institutions | 430/8 | €1,595 | €0 | -€1,595 | -100% |
| Trade debts | 44 | €3,345 | €3,195 | -€149 | -4.5% |
| Suppliers | 440/4 | €3,345 | €3,195 | -€149 | -4.5% |
| Taxes, remuneration and social security | 45 | €8,551 | €0 | -€8,551 | -100% |
| Taxes | 450/3 | €8,551 | €0 | -€8,551 | -100% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €781 | €77,181 | +€76,400 | +9,779% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,286 | €18,046 | +€759 | +4.4% |
| Other operating charges | 640/8 | €1,419 | €10,621 | +€9,202 | +648% |
| Gross operating margin | 9900 | €98,255 | €37,035 | -€61,220 | -62.3% |
| Operating profit (loss) | 9901 | €79,549 | €8,368 | -€71,181 | -89.5% |
| Financial income | 75/76B | €324 | €2 | -€321 | -99.3% |
| Recurring financial income | 75 | €324 | €2 | -€321 | -99.3% |
| Financial charges | 65/66B | €3,078 | €3,153 | +€75 | +2.4% |
| Recurring financial charges | 65 | €3,078 | €3,153 | +€75 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €76,795 | €5,217 | -€71,577 | -93.2% |
| Income taxes | 67/77 | €16,551 | €2,066 | -€14,485 | -87.5% |
| Profit (loss) for the period | 9904 | €60,244 | €3,151 | -€57,093 | -94.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,244 | €3,151 | -€57,093 | -94.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.