SWITCH CONCEPT: 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.
SWITCH CONCEPT
Largest movements
- Receivables within one year -€49,265
down €49,265 (-35.6%), from €138,324 to €89,059
- Tangible fixed assets -€36,105
down €36,105 (-3.9%), from €917,322 to €881,216
- Short-term financial debts -€260,000
down €260,000 (-98.1%), from €265,000 to €5,000
- Other debts +€218,699
up €218,699 (+169.3%), from €129,153 to €347,852
- Debts after one year -€50,697
down €50,697 (-8.4%), from €605,940 to €555,242
- Profit (loss) carried forward +€13,410
up €13,410 (+34.9%), from -€38,446 to -€25,036
- Gross operating margin +€12,496
up €12,496 (+16.3%), from €76,553 to €89,049
- Financial charges -€11,470
down €11,470 (-27.7%), from €41,337 to €29,867
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 | €1,059,980 | €973,418 | -€86,562 | -8.2% |
| Fixed assets | 21/28 | €917,402 | €881,297 | -€36,105 | -3.9% |
| Tangible fixed assets | 22/27 | €917,322 | €881,216 | -€36,105 | -3.9% |
| Land and buildings | 22 | €917,322 | €881,216 | -€36,105 | -3.9% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €142,578 | €92,121 | -€50,457 | -35.4% |
| Amounts receivable within one year | 40/41 | €138,324 | €89,059 | -€49,265 | -35.6% |
| Other amounts receivable | 41 | €138,324 | €89,059 | -€49,265 | -35.6% |
| Cash at bank and in hand | 54/58 | €4,254 | €3,062 | -€1,193 | -28.0% |
| Total equity and liabilities | 10/49 | €1,059,980 | €973,418 | -€86,562 | -8.2% |
| Equity | 10/15 | -€17,986 | -€4,576 | +€13,410 | +74.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,446 | -€25,036 | +€13,410 | +34.9% |
| Amounts payable | 17/49 | €1,077,966 | €977,994 | -€99,972 | -9.3% |
| Amounts payable after more than one year | 17 | €605,940 | €555,242 | -€50,697 | -8.4% |
| Financial debts | 170/4 | €605,940 | €555,242 | -€50,697 | -8.4% |
| Amounts payable within one year | 42/48 | €467,140 | €422,752 | -€44,389 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €57,918 | €59,260 | +€1,341 | +2.3% |
| Financial debts | 43 | €265,000 | €5,000 | -€260,000 | -98.1% |
| Other loans | 439 | €265,000 | €5,000 | -€260,000 | -98.1% |
| Trade debts | 44 | €13,469 | €10,640 | -€2,829 | -21.0% |
| Suppliers | 440/4 | €13,469 | €10,640 | -€2,829 | -21.0% |
| Taxes, remuneration and social security | 45 | €1,600 | - | -€1,600 | |
| Remuneration and social security | 454/9 | €1,600 | - | -€1,600 | |
| Other amounts payable | 47/48 | €129,153 | €347,852 | +€218,699 | +169.3% |
| Accrued charges and deferred income | 492/3 | €4,886 | - | -€4,886 | |
| Non-recurring operating income | 76A | €2,776 | €3,483 | +€707 | +25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,105 | €36,105 | = | 0.0% |
| Other operating charges | 640/8 | €5,502 | €5,674 | +€172 | +3.1% |
| Non-recurring operating charges | 66A | - | €4,011 | +€4,011 | |
| Gross operating margin | 9900 | €76,553 | €89,049 | +€12,496 | +16.3% |
| Operating profit (loss) | 9901 | €34,947 | €43,259 | +€8,313 | +23.8% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €41,337 | €29,867 | -€11,470 | -27.7% |
| Recurring financial charges | 65 | €41,337 | €29,867 | -€11,470 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,391 | €13,410 | +€19,801 | |
| Profit (loss) for the period | 9904 | -€6,391 | €13,410 | +€19,801 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,391 | €13,410 | +€19,801 |
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.