Switch On Financial: 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 On Financial
Largest movements
- Receivables within one year -€30,283
down €30,283 (-99.2%), from €30,532 to €249
of which Trade receivables: -€20,195
- Tangible fixed assets -€23,694
down €23,694 (-4.7%), from €499,908 to €476,214
of which Land and buildings: -€12,744
- Cash -€14,024
down €14,024 (-23.4%), from €59,997 to €45,973
mainly Contributions, distributions and other (-€50,000) and Other debts (-€32,507)
- Other debts -€32,507
no longer reported in 2025 (was €32,507)
- Debts after one year -€26,596
down €26,596 (-7.1%), from €375,977 to €349,382
- Tax, wage and social debts -€19,281
down €19,281 (-51.7%), from €37,311 to €18,030
- Gross operating margin +€44,064
up €44,064 (+37.8%), from €116,624 to €160,688
- Taxes +€12,242
up €12,242 (+212%), from €5,783 to €18,025
- Depreciation -€3,840
down €3,840 (-12.9%), from €29,774 to €25,934
- Financial charges -€2,994
down €2,994 (-4.6%), from €65,775 to €62,780
- Financial income -€2,865
down €2,865 (-98.5%), from €2,909 to €43
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 | €597,974 | €525,733 | -€72,241 | -12.1% |
| Fixed assets | 21/28 | €499,908 | €476,214 | -€23,694 | -4.7% |
| Tangible fixed assets | 22/27 | €499,908 | €476,214 | -€23,694 | -4.7% |
| Land and buildings | 22 | €460,532 | €447,789 | -€12,744 | -2.8% |
| Furniture and vehicles | 24 | €39,375 | €28,425 | -€10,950 | -27.8% |
| Current assets | 29/58 | €98,067 | €49,520 | -€48,547 | -49.5% |
| Amounts receivable within one year | 40/41 | €30,532 | €249 | -€30,283 | -99.2% |
| Trade receivables | 40 | €20,195 | - | -€20,195 | |
| Other amounts receivable | 41 | €10,337 | €249 | -€10,088 | -97.6% |
| Current investments | 50/53 | €3,215 | €2,845 | -€370 | -11.5% |
| Cash at bank and in hand | 54/58 | €59,997 | €45,973 | -€14,024 | -23.4% |
| Deferred charges and accrued income | 490/1 | €4,322 | €452 | -€3,870 | -89.5% |
| Total equity and liabilities | 10/49 | €597,974 | €525,733 | -€72,241 | -12.1% |
| Equity | 10/15 | €124,675 | €126,713 | +€2,038 | +1.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,675 | €124,713 | +€2,038 | +1.7% |
| Amounts payable | 17/49 | €473,299 | €399,020 | -€74,279 | -15.7% |
| Amounts payable after more than one year | 17 | €375,977 | €349,382 | -€26,596 | -7.1% |
| Financial debts | 170/4 | €375,977 | €349,382 | -€26,596 | -7.1% |
| Amounts payable within one year | 42/48 | €97,321 | €49,170 | -€48,152 | -49.5% |
| Current portion of amounts payable after more than one year | 42 | €25,677 | €26,596 | +€918 | +3.6% |
| Trade debts | 44 | €1,827 | €4,544 | +€2,717 | +149% |
| Suppliers | 440/4 | €1,827 | €4,544 | +€2,717 | +149% |
| Taxes, remuneration and social security | 45 | €37,311 | €18,030 | -€19,281 | -51.7% |
| Taxes | 450/3 | €37,311 | €18,030 | -€19,281 | -51.7% |
| Other amounts payable | 47/48 | €32,507 | - | -€32,507 | |
| Accrued charges and deferred income | 492/3 | - | €469 | +€469 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,774 | €25,934 | -€3,840 | -12.9% |
| Other operating charges | 640/8 | €1,485 | €1,954 | +€469 | +31.5% |
| Gross operating margin | 9900 | €116,624 | €160,688 | +€44,064 | +37.8% |
| Operating profit (loss) | 9901 | €85,364 | €132,800 | +€47,436 | +55.6% |
| Financial income | 75/76B | €2,909 | €43 | -€2,865 | -98.5% |
| Recurring financial income | 75 | €2,909 | €43 | -€2,865 | -98.5% |
| Financial charges | 65/66B | €65,775 | €62,780 | -€2,994 | -4.6% |
| Recurring financial charges | 65 | €65,775 | €62,780 | -€2,994 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €22,498 | €70,063 | +€47,564 | +211% |
| Income taxes | 67/77 | €5,783 | €18,025 | +€12,242 | +212% |
| Profit (loss) for the period | 9904 | €16,715 | €52,038 | +€35,322 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €16,715 | €52,038 | +€35,322 | +211% |
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.