SWIRL: 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.
SWIRL
Largest movements
- Current investments +€16,530
up €16,530 (+65.8%), from €25,129 to €41,659
- Receivables within one year +€5,239
up €5,239 (+11.9%), from €43,841 to €49,079
of which Trade receivables: +€9,319
- Tangible fixed assets -€2,975
down €2,975 (-7.9%), from €37,576 to €34,600
of which Other tangible fixed assets: -€2,340
- Other debts +€28,949
up €28,949 (+3475.2%), from €833 to €29,782
- Tax, wage and social debts -€6,840
down €6,840 (-20.6%), from €33,131 to €26,291
- Profit (loss) carried forward -€5,760
down €5,760 (-9.8%), from €58,682 to €52,922
- Trade debts +€2,106
up €2,106 (+113.5%), from €1,855 to €3,961
- Gross operating margin -€50,624
down €50,624 (-89.6%), from €56,514 to €5,890
- Taxes -€11,465
down €11,465 (-98.7%), from €11,617 to €151
- Depreciation +€3,291
up €3,291 (+71.3%), from €4,617 to €7,908
- Other operating charges +€1,472
up €1,472 (+380.1%), from €387 to €1,860
- Financial charges +€943
up €943 (+99.9%), from €943 to €1,886
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 | €141,058 | €159,511 | +€18,453 | +13.1% |
| Fixed assets | 21/28 | €37,576 | €34,600 | -€2,975 | -7.9% |
| Tangible fixed assets | 22/27 | €37,576 | €34,600 | -€2,975 | -7.9% |
| Plant, machinery and equipment | 23 | €12,444 | €13,432 | +€989 | +7.9% |
| Furniture and vehicles | 24 | €4,381 | €2,758 | -€1,624 | -37.1% |
| Other tangible fixed assets | 26 | €20,751 | €18,410 | -€2,340 | -11.3% |
| Current assets | 29/58 | €103,483 | €124,911 | +€21,428 | +20.7% |
| Amounts receivable within one year | 40/41 | €43,841 | €49,079 | +€5,239 | +11.9% |
| Trade receivables | 40 | €39,760 | €49,079 | +€9,319 | +23.4% |
| Other amounts receivable | 41 | €4,080 | - | -€4,080 | |
| Current investments | 50/53 | €25,129 | €41,659 | +€16,530 | +65.8% |
| Cash at bank and in hand | 54/58 | €34,220 | €34,173 | -€47 | -0.1% |
| Deferred charges and accrued income | 490/1 | €293 | - | -€293 | |
| Total equity and liabilities | 10/49 | €141,058 | €159,511 | +€18,453 | +13.1% |
| Equity | 10/15 | €105,237 | €99,477 | -€5,760 | -5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,955 | €27,955 | = | 0.0% |
| Distributable reserves | 133 | €27,955 | €27,955 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,682 | €52,922 | -€5,760 | -9.8% |
| Amounts payable | 17/49 | €35,821 | €60,034 | +€24,213 | +67.6% |
| Amounts payable within one year | 42/48 | €35,821 | €60,034 | +€24,213 | +67.6% |
| Financial debts | 43 | €2 | - | -€2 | |
| Credit institutions | 430/8 | €2 | - | -€2 | |
| Trade debts | 44 | €1,855 | €3,961 | +€2,106 | +113.5% |
| Suppliers | 440/4 | €1,855 | €3,961 | +€2,106 | +113.5% |
| Taxes, remuneration and social security | 45 | €33,131 | €26,291 | -€6,840 | -20.6% |
| Taxes | 450/3 | €33,131 | €26,291 | -€6,840 | -20.6% |
| Other amounts payable | 47/48 | €833 | €29,782 | +€28,949 | +3475.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,617 | €7,908 | +€3,291 | +71.3% |
| Other operating charges | 640/8 | €387 | €1,860 | +€1,472 | +380.1% |
| Gross operating margin | 9900 | €56,514 | €5,890 | -€50,624 | -89.6% |
| Operating profit (loss) | 9901 | €51,510 | -€3,878 | -€55,387 | |
| Financial income | 75/76B | €153 | €155 | +€2 | +1.4% |
| Recurring financial income | 75 | €153 | €155 | +€2 | +1.4% |
| Financial charges | 65/66B | €943 | €1,886 | +€943 | +99.9% |
| Recurring financial charges | 65 | €943 | €1,886 | +€943 | +99.9% |
| Profit (loss) for the period before taxes | 9903 | €50,720 | -€5,608 | -€56,328 | |
| Income taxes | 67/77 | €11,617 | €151 | -€11,465 | -98.7% |
| Profit (loss) for the period | 9904 | €39,103 | -€5,760 | -€44,863 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,103 | -€5,760 | -€44,863 |
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 3 October 2026 via checked.be.