SWISS MANAGEMENT: 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.
SWISS MANAGEMENT
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Tangible fixed assets -€10,709
down €10,709 (-3.3%), from €326,858 to €316,149
of which Land and buildings: -€10,369
- Reserves +€96,415
up €96,415 (+51.4%), from €187,578 to €283,993
of which Non-distributable reserves: +€150,000
- Tax, wage and social debts +€31,016
up €31,016 (+6,004%), from €517 to €31,533
- Other debts +€11,308
up €11,308 (+14.3%), from €78,862 to €90,170
- Gross operating margin +€130,859
up €130,859 (+1,064%), from €12,302 to €143,161
- Taxes +€31,533
new in 2025: €31,533
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 | €330,683 | €470,709 | +€140,026 | +42.3% |
| Fixed assets | 21/28 | €326,858 | €316,149 | -€10,709 | -3.3% |
| Tangible fixed assets | 22/27 | €326,858 | €316,149 | -€10,709 | -3.3% |
| Land and buildings | 22 | €321,283 | €310,914 | -€10,369 | -3.2% |
| Plant, machinery and equipment | 23 | €3,461 | €2,832 | -€629 | -18.2% |
| Furniture and vehicles | 24 | €2,113 | €2,403 | +€290 | +13.7% |
| Current assets | 29/58 | €3,826 | €154,560 | +€150,734 | +3,940% |
| Amounts receivable within one year | 40/41 | - | €269 | +€269 | |
| Other amounts receivable | 41 | - | €269 | +€269 | |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €3,010 | €3,437 | +€427 | +14.2% |
| Deferred charges and accrued income | 490/1 | €816 | €854 | +€38 | +4.7% |
| Total equity and liabilities | 10/49 | €330,683 | €470,709 | +€140,026 | +42.3% |
| Equity | 10/15 | €249,578 | €345,993 | +€96,415 | +38.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €187,578 | €283,993 | +€96,415 | +51.4% |
| Non-distributable reserves | 130/1 | €6,200 | €156,200 | +€150,000 | +2,419% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Own shares acquired | 1312 | - | €150,000 | +€150,000 | |
| Tax-exempt reserves | 132 | €8,768 | €8,768 | = | 0.0% |
| Distributable reserves | 133 | €172,610 | €119,025 | -€53,585 | -31.0% |
| Amounts payable | 17/49 | €81,105 | €124,716 | +€43,611 | +53.8% |
| Amounts payable within one year | 42/48 | €81,105 | €124,716 | +€43,611 | +53.8% |
| Financial debts | 43 | - | €1,147 | +€1,147 | |
| Credit institutions | 430/8 | - | €1,147 | +€1,147 | |
| Trade debts | 44 | €1,726 | €1,866 | +€140 | +8.1% |
| Suppliers | 440/4 | €1,726 | €1,866 | +€140 | +8.1% |
| Taxes, remuneration and social security | 45 | €517 | €31,533 | +€31,016 | +6,004% |
| Taxes | 450/3 | €517 | €31,533 | +€31,016 | +6,004% |
| Other amounts payable | 47/48 | €78,862 | €90,170 | +€11,308 | +14.3% |
| Non-recurring operating income | 76A | - | €150,000 | +€150,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,705 | €11,980 | +€275 | +2.3% |
| Other operating charges | 640/8 | €2,691 | €2,770 | +€79 | +2.9% |
| Gross operating margin | 9900 | €12,302 | €143,161 | +€130,859 | +1,064% |
| Operating profit (loss) | 9901 | -€2,094 | €128,412 | +€130,506 | |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €482 | €464 | -€17 | -3.6% |
| Recurring financial charges | 65 | €482 | €464 | -€17 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,566 | €127,948 | +€130,513 | |
| Income taxes | 67/77 | - | €31,533 | +€31,533 | |
| Profit (loss) for the period | 9904 | -€2,566 | €96,415 | +€98,980 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,566 | €96,415 | +€98,980 |
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 23 October 2026 via checked.be.