Switchrs: 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.
Switchrs
Largest movements
- Cash -€36,048
down €36,048 (-81.0%), from €44,502 to €8,454
mainly Receivables within one year (-€23,575) and Other debts (-€13,948)
- Receivables within one year +€23,575
up €23,575 (+960.0%), from €2,456 to €26,030
of which Trade receivables: +€19,522
- Intangible fixed assets -€11,465
down €11,465 (-78.4%), from €14,625 to €3,159
- Deferred charges and accrued income +€3,088
up €3,088 (+203.6%), from €1,517 to €4,605
- Tangible fixed assets -€1,441
down €1,441 (-53.4%), from €2,697 to €1,256
- Other debts -€13,948
no longer reported in 2025 (was €13,948)
- Reserves -€13,347
down €13,347 (-27.8%), from €48,084 to €34,737
- Trade debts +€5,004
up €5,004 (+23987.9%), from €21 to €5,025
- Gross operating margin -€24,243
down €24,243 (-97.3%), from €24,924 to €681
- Other operating charges +€791
up €791 (+373.5%), from €212 to €1,003
- Financial charges -€258
down €258 (-68.5%), from €377 to €119
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 | €67,118 | €44,826 | -€22,292 | -33.2% |
| Fixed assets | 21/28 | €17,892 | €4,985 | -€12,907 | -72.1% |
| Intangible fixed assets | 21 | €14,625 | €3,159 | -€11,465 | -78.4% |
| Tangible fixed assets | 22/27 | €2,697 | €1,256 | -€1,441 | -53.4% |
| Furniture and vehicles | 24 | €2,697 | €1,256 | -€1,441 | -53.4% |
| Financial fixed assets | 28 | €570 | €570 | = | 0.0% |
| Current assets | 29/58 | €49,226 | €39,841 | -€9,385 | -19.1% |
| Amounts receivable within one year | 40/41 | €2,456 | €26,030 | +€23,575 | +960.0% |
| Trade receivables | 40 | €0 | €19,522 | +€19,522 | |
| Other amounts receivable | 41 | €2,456 | €6,508 | +€4,053 | +165.0% |
| Current investments | 50/53 | €752 | €752 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €44,502 | €8,454 | -€36,048 | -81.0% |
| Deferred charges and accrued income | 490/1 | €1,517 | €4,605 | +€3,088 | +203.6% |
| Total equity and liabilities | 10/49 | €67,118 | €44,826 | -€22,292 | -33.2% |
| Equity | 10/15 | €53,084 | €39,737 | -€13,347 | -25.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €48,084 | €34,737 | -€13,347 | -27.8% |
| Distributable reserves | 133 | €48,084 | €34,737 | -€13,347 | -27.8% |
| Amounts payable | 17/49 | €14,034 | €5,089 | -€8,945 | -63.7% |
| Amounts payable within one year | 42/48 | €14,034 | €5,089 | -€8,945 | -63.7% |
| Trade debts | 44 | €21 | €5,025 | +€5,004 | +23987.9% |
| Suppliers | 440/4 | €21 | €5,025 | +€5,004 | +23987.9% |
| Taxes, remuneration and social security | 45 | €65 | €64 | -€1 | -0.9% |
| Taxes | 450/3 | €65 | €64 | -€1 | -0.9% |
| Other amounts payable | 47/48 | €13,948 | - | -€13,948 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,907 | €12,907 | -€0 | 0.0% |
| Other operating charges | 640/8 | €212 | €1,003 | +€791 | +373.5% |
| Gross operating margin | 9900 | €24,924 | €681 | -€24,243 | -97.3% |
| Operating profit (loss) | 9901 | €11,806 | -€13,229 | -€25,034 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -97.6% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -97.6% |
| Financial charges | 65/66B | €377 | €119 | -€258 | -68.5% |
| Recurring financial charges | 65 | €377 | €119 | -€258 | -68.5% |
| Profit (loss) for the period before taxes | 9903 | €11,430 | -€13,347 | -€24,777 | |
| Income taxes | 67/77 | €65 | -€1 | -€66 | |
| Profit (loss) for the period | 9904 | €11,365 | -€13,347 | -€24,712 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,365 | -€13,347 | -€24,712 |
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 28 September 2026 via checked.be.