SWITCH CLUB: 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.
SWITCH CLUB
Largest movements
- Cash -€406,108
down €406,108 (-69.1%), from €588,040 to €181,932
mainly Receivables within one year (-€188,998) and Contributions, distributions and other (-€170,000)
- Receivables within one year +€188,998
up €188,998 (+354%), from €53,408 to €242,406
of which Other amounts receivable: +€197,468
- Deferred charges and accrued income +€24,356
new in 2025: €24,356
- Stocks and contracts +€20,138
new in 2025: €20,138
- Tangible fixed assets +€15,888
up €15,888 (+27.0%), from €58,850 to €74,738
of which Plant, machinery and equipment: +€15,460
- Reserves -€141,674
down €141,674 (-23.1%), from €613,932 to €472,258
of which Distributable reserves: -€141,674
- Other debts -€37,563
down €37,563 (-57.2%), from €65,660 to €28,097
- Trade debts +€18,876
up €18,876 (+197%), from €9,569 to €28,445
- Gross operating margin -€153,064
down €153,064 (-36.7%), from €417,379 to €264,315
- Staff costs -€43,747
down €43,747 (-19.4%), from €225,348 to €181,601
- Taxes -€21,183
down €21,183 (-58.3%), from €36,332 to €15,149
- Depreciation -€9,609
down €9,609 (-28.7%), from €33,531 to €23,922
- Other operating charges -€5,846
down €5,846 (-37.4%), from €15,629 to €9,783
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 | €781,848 | €625,120 | -€156,728 | -20.0% |
| Fixed assets | 21/28 | €59,150 | €75,038 | +€15,888 | +26.9% |
| Tangible fixed assets | 22/27 | €58,850 | €74,738 | +€15,888 | +27.0% |
| Land and buildings | 22 | €12,887 | €26,457 | +€13,570 | +105% |
| Plant, machinery and equipment | 23 | €3,250 | €18,710 | +€15,460 | +476% |
| Furniture and vehicles | 24 | €42,713 | €29,571 | -€13,142 | -30.8% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €722,698 | €550,082 | -€172,616 | -23.9% |
| Stocks and contracts in progress | 3 | - | €20,138 | +€20,138 | |
| Stocks | 30/36 | - | €20,138 | +€20,138 | |
| Amounts receivable within one year | 40/41 | €53,408 | €242,406 | +€188,998 | +354% |
| Trade receivables | 40 | €8,470 | - | -€8,470 | |
| Other amounts receivable | 41 | €44,938 | €242,406 | +€197,468 | +439% |
| Current investments | 50/53 | €81,250 | €81,250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €588,040 | €181,932 | -€406,108 | -69.1% |
| Deferred charges and accrued income | 490/1 | - | €24,356 | +€24,356 | |
| Total equity and liabilities | 10/49 | €781,848 | €625,120 | -€156,728 | -20.0% |
| Equity | 10/15 | €638,532 | €496,858 | -€141,674 | -22.2% |
| Contributions | 10/11 | €24,600 | €24,600 | = | 0.0% |
| Contributions outside capital | 11 | €24,600 | €24,600 | = | 0.0% |
| Other | 1109/19 | €24,600 | €24,600 | = | 0.0% |
| Reserves | 13 | €613,932 | €472,258 | -€141,674 | -23.1% |
| Tax-exempt reserves | 132 | €77,093 | €77,093 | = | 0.0% |
| Distributable reserves | 133 | €536,839 | €395,165 | -€141,674 | -26.4% |
| Amounts payable | 17/49 | €143,316 | €128,262 | -€15,054 | -10.5% |
| Amounts payable within one year | 42/48 | €143,316 | €128,262 | -€15,054 | -10.5% |
| Trade debts | 44 | €9,569 | €28,445 | +€18,876 | +197% |
| Suppliers | 440/4 | €9,569 | €28,445 | +€18,876 | +197% |
| Taxes, remuneration and social security | 45 | €68,087 | €71,720 | +€3,633 | +5.3% |
| Taxes | 450/3 | €44,150 | €48,254 | +€4,104 | +9.3% |
| Remuneration and social security | 454/9 | €23,937 | €23,466 | -€471 | -2.0% |
| Other amounts payable | 47/48 | €65,660 | €28,097 | -€37,563 | -57.2% |
| Remuneration, social security and pensions | 62 | €225,348 | €181,601 | -€43,747 | -19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,531 | €23,922 | -€9,609 | -28.7% |
| Other operating charges | 640/8 | €15,629 | €9,783 | -€5,846 | -37.4% |
| Gross operating margin | 9900 | €417,379 | €264,315 | -€153,064 | -36.7% |
| Operating profit (loss) | 9901 | €142,871 | €49,009 | -€93,862 | -65.7% |
| Financial income | 75/76B | €1,025 | - | -€1,025 | |
| Recurring financial income | 75 | €1,025 | - | -€1,025 | |
| Financial charges | 65/66B | €7,813 | €5,534 | -€2,279 | -29.2% |
| Recurring financial charges | 65 | €7,813 | €5,534 | -€2,279 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €136,083 | €43,475 | -€92,608 | -68.1% |
| Income taxes | 67/77 | €36,332 | €15,149 | -€21,183 | -58.3% |
| Profit (loss) for the period | 9904 | €99,751 | €28,326 | -€71,425 | -71.6% |
| Transfer to tax-exempt reserves | 689 | €77,093 | - | -€77,093 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,658 | €28,326 | +€5,668 | +25.0% |
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 24 October 2026 via checked.be.