SWITCHY: 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.
SWITCHY
Largest movements
- Receivables within one year +€55,998
up €55,998 (+141.9%), from €39,449 to €95,447
of which Trade receivables: +€55,284
- Cash +€42,454
up €42,454 (+25.8%), from €164,458 to €206,912
mainly Other debts (+€192,013) and Trade debts (+€112,346)
- Tangible fixed assets +€42,240
up €42,240 (+250.4%), from €16,866 to €59,106
- Current investments -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Other debts +€192,013
up €192,013, from €0 to €192,013
- Profit (loss) carried forward -€188,549
down €188,549 (-98.7%), from €190,984 to €2,436
- Trade debts +€112,346
up €112,346 (+1161.7%), from €9,671 to €122,017
- Tax, wage and social debts +€15,541
up €15,541 (+51.9%), from €29,961 to €45,502
of which Taxes: +€15,541
- Write-downs +€10,000
new in 2025: €10,000
- Financial charges +€4,013
up €4,013 (+3596.6%), from €112 to €4,124
of which Non-recurring financial charges: +€4,083
- Staff costs -€3,403
down €3,403 (-100.0%), from €3,403 to €0
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 | €231,616 | €362,968 | +€131,352 | +56.7% |
| Formation expenses | 20 | €295 | €87 | -€208 | -70.6% |
| Fixed assets | 21/28 | €16,866 | €60,106 | +€43,240 | +256.4% |
| Tangible fixed assets | 22/27 | €16,866 | €59,106 | +€42,240 | +250.4% |
| Furniture and vehicles | 24 | €16,866 | €59,106 | +€42,240 | +250.4% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €214,455 | €302,775 | +€88,320 | +41.2% |
| Amounts receivable within one year | 40/41 | €39,449 | €95,447 | +€55,998 | +141.9% |
| Trade receivables | 40 | €39,449 | €94,733 | +€55,284 | +140.1% |
| Other amounts receivable | 41 | - | €714 | +€714 | |
| Current investments | 50/53 | €10,000 | €0 | -€10,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €164,458 | €206,912 | +€42,454 | +25.8% |
| Deferred charges and accrued income | 490/1 | €548 | €417 | -€131 | -23.9% |
| Total equity and liabilities | 10/49 | €231,616 | €362,968 | +€131,352 | +56.7% |
| Equity | 10/15 | €191,984 | €3,436 | -€188,549 | -98.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,984 | €2,436 | -€188,549 | -98.7% |
| Amounts payable | 17/49 | €39,632 | €359,533 | +€319,901 | +807.2% |
| Amounts payable within one year | 42/48 | €39,632 | €359,533 | +€319,901 | +807.2% |
| Trade debts | 44 | €9,671 | €122,017 | +€112,346 | +1161.7% |
| Suppliers | 440/4 | €9,671 | €122,017 | +€112,346 | +1161.7% |
| Taxes, remuneration and social security | 45 | €29,961 | €45,502 | +€15,541 | +51.9% |
| Taxes | 450/3 | €29,961 | €45,502 | +€15,541 | +51.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €192,013 | +€192,013 | |
| Remuneration, social security and pensions | 62 | €3,403 | €0 | -€3,403 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,060 | €3,135 | -€924 | -22.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €912 | €72 | -€840 | -92.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €99,045 | €98,332 | -€713 | -0.7% |
| Operating profit (loss) | 9901 | €90,671 | €85,125 | -€5,546 | -6.1% |
| Financial income | 75/76B | €0 | €721 | +€721 | |
| Recurring financial income | 75 | €0 | €721 | +€721 | |
| Financial charges | 65/66B | €112 | €4,124 | +€4,013 | +3596.6% |
| Recurring financial charges | 65 | €112 | €41 | -€71 | -63.3% |
| Non-recurring financial charges | 66B | €0 | €4,083 | +€4,083 | |
| Profit (loss) for the period before taxes | 9903 | €90,559 | €81,722 | -€8,837 | -9.8% |
| Income taxes | 67/77 | €19,151 | €19,286 | +€136 | +0.7% |
| Profit (loss) for the period | 9904 | €71,408 | €62,436 | -€8,973 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €71,408 | €62,436 | -€8,973 | -12.6% |
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 7 October 2026 via checked.be.