SWIRES: what changed
Two fiscal 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.
SWIRES
Largest movements
- Cash +€20,647
up €20,647 (+8474.4%), from €244 to €20,891
mainly Net result for the year (+€34,670) and Depreciation (+€4,352)
- Receivables within one year +€13,961
up €13,961 (+77.1%), from €18,098 to €32,059
of which Trade receivables: +€13,803
- Tangible fixed assets -€4,352
down €4,352 (-100.0%), from €4,352 to €0
- Reserves +€34,670
up €34,670 (+1173.4%), from €2,955 to €37,625
- Current portion of long-term debt -€4,549
down €4,549 (-100.0%), from €4,549 to €0
- Tax, wage and social debts +€2,396
up €2,396 (+74.1%), from €3,234 to €5,630
of which Taxes: +€3,846
- Other debts -€2,251
down €2,251 (-26.7%), from €8,441 to €6,190
- Gross operating margin +€44,693
up €44,693 (+542.6%), from €8,237 to €52,930
- Taxes +€12,221
up €12,221 (+1351.4%), from €904 to €13,125
- Depreciation -€1,510
down €1,510 (-25.8%), from €5,862 to €4,352
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.
Cash bridge derived
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 | €22,694 | €52,949 | +€30,255 | +133.3% |
| Fixed assets | 21/28 | €4,352 | €0 | -€4,352 | -100.0% |
| Tangible fixed assets | 22/27 | €4,352 | €0 | -€4,352 | -100.0% |
| Furniture and vehicles | 24 | €4,352 | €0 | -€4,352 | -100.0% |
| Current assets | 29/58 | €18,342 | €52,949 | +€34,608 | +188.7% |
| Amounts receivable within one year | 40/41 | €18,098 | €32,059 | +€13,961 | +77.1% |
| Trade receivables | 40 | €18,098 | €31,901 | +€13,803 | +76.3% |
| Other amounts receivable | 41 | - | €158 | +€158 | |
| Cash at bank and in hand | 54/58 | €244 | €20,891 | +€20,647 | +8474.4% |
| Total equity and liabilities | 10/49 | €22,694 | €52,949 | +€30,255 | +133.3% |
| Equity | 10/15 | €5,455 | €40,125 | +€34,670 | +635.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €2,955 | €37,625 | +€34,670 | +1173.4% |
| Distributable reserves | 133 | €2,955 | €37,625 | +€34,670 | +1173.4% |
| Amounts payable | 17/49 | €17,239 | €12,825 | -€4,415 | -25.6% |
| Amounts payable within one year | 42/48 | €17,239 | €12,825 | -€4,415 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €4,549 | €0 | -€4,549 | -100.0% |
| Trade debts | 44 | €1,016 | €1,004 | -€12 | -1.2% |
| Suppliers | 440/4 | €1,016 | €1,004 | -€12 | -1.2% |
| Taxes, remuneration and social security | 45 | €3,234 | €5,630 | +€2,396 | +74.1% |
| Taxes | 450/3 | €1,784 | €5,630 | +€3,846 | +215.6% |
| Remuneration and social security | 454/9 | €1,450 | €0 | -€1,450 | -100.0% |
| Other amounts payable | 47/48 | €8,441 | €6,190 | -€2,251 | -26.7% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,862 | €4,352 | -€1,510 | -25.8% |
| Other operating charges | 640/8 | €505 | €573 | +€67 | +13.3% |
| Non-recurring operating charges | 66A | €121 | - | -€121 | |
| Gross operating margin | 9900 | €8,237 | €52,930 | +€44,693 | +542.6% |
| Operating profit (loss) | 9901 | €1,748 | €48,005 | +€46,257 | +2646.3% |
| Financial income | 75/76B | €5 | €0 | -€5 | -100.0% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -100.0% |
| Financial charges | 65/66B | €487 | €210 | -€277 | -56.9% |
| Recurring financial charges | 65 | €487 | €210 | -€277 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €1,266 | €47,795 | +€46,529 | +3675.1% |
| Income taxes | 67/77 | €904 | €13,125 | +€12,221 | +1351.4% |
| Profit (loss) for the period | 9904 | €362 | €34,670 | +€34,308 | +9483.4% |
| Profit (loss) for the period to be appropriated | 9905 | €362 | €34,670 | +€34,308 | +9483.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.