SWMC: 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.
SWMC
Largest movements
- Cash +€71,205
up €71,205 (+193.6%), from €36,785 to €107,990
mainly Other debts (+€102,468) and Net result for the year (+€82,092)
- Tangible fixed assets -€6,765
down €6,765 (-17.8%), from €38,056 to €31,291
of which Furniture and vehicles: -€4,968
- Receivables within one year +€6,487
up €6,487 (+21.8%), from €29,711 to €36,199
of which Other amounts receivable: +€4,056
- Deferred charges and accrued income +€2,900
up €2,900 (+49.6%), from €5,851 to €8,750
- Other debts +€102,468
up €102,468 (+11525.3%), from €889 to €103,357
- Tax, wage and social debts +€38,844
up €38,844 (+241.7%), from €16,070 to €54,914
of which Taxes: +€38,844
- Profit (loss) carried forward -€37,908
down €37,908 (-64.2%), from €59,048 to €21,139
- Trade debts -€25,077
down €25,077 (-93.2%), from €26,897 to €1,820
- Accrued charges and deferred income -€4,500
no longer reported in 2025 (was €4,500)
- Gross operating margin +€77,727
up €77,727 (+200.5%), from €38,770 to €116,497
- Taxes +€12,940
up €12,940 (+146.0%), from €8,864 to €21,804
- Other operating charges +€1,683
up €1,683 (+203.1%), from €828 to €2,511
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 | €110,403 | €184,229 | +€73,826 | +66.9% |
| Fixed assets | 21/28 | €38,056 | €31,291 | -€6,765 | -17.8% |
| Tangible fixed assets | 22/27 | €38,056 | €31,291 | -€6,765 | -17.8% |
| Furniture and vehicles | 24 | €21,934 | €16,966 | -€4,968 | -22.6% |
| Other tangible fixed assets | 26 | €16,122 | €14,325 | -€1,797 | -11.1% |
| Current assets | 29/58 | €72,347 | €152,938 | +€80,591 | +111.4% |
| Amounts receivable within one year | 40/41 | €29,711 | €36,199 | +€6,487 | +21.8% |
| Trade receivables | 40 | €12,705 | €15,136 | +€2,431 | +19.1% |
| Other amounts receivable | 41 | €17,006 | €21,063 | +€4,056 | +23.9% |
| Cash at bank and in hand | 54/58 | €36,785 | €107,990 | +€71,205 | +193.6% |
| Deferred charges and accrued income | 490/1 | €5,851 | €8,750 | +€2,900 | +49.6% |
| Total equity and liabilities | 10/49 | €110,403 | €184,229 | +€73,826 | +66.9% |
| Equity | 10/15 | €62,048 | €24,139 | -€37,908 | -61.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,048 | €21,139 | -€37,908 | -64.2% |
| Amounts payable | 17/49 | €48,355 | €160,090 | +€111,735 | +231.1% |
| Amounts payable within one year | 42/48 | €43,855 | €160,090 | +€116,235 | +265.0% |
| Trade debts | 44 | €26,897 | €1,820 | -€25,077 | -93.2% |
| Suppliers | 440/4 | €26,897 | €1,820 | -€25,077 | -93.2% |
| Taxes, remuneration and social security | 45 | €16,070 | €54,914 | +€38,844 | +241.7% |
| Taxes | 450/3 | €13,570 | €52,414 | +€38,844 | +286.3% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €889 | €103,357 | +€102,468 | +11525.3% |
| Accrued charges and deferred income | 492/3 | €4,500 | - | -€4,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,353 | €10,116 | +€764 | +8.2% |
| Other operating charges | 640/8 | €828 | €2,511 | +€1,683 | +203.1% |
| Gross operating margin | 9900 | €38,770 | €116,497 | +€77,727 | +200.5% |
| Operating profit (loss) | 9901 | €28,589 | €103,869 | +€75,281 | +263.3% |
| Financial income | 75/76B | €0 | €166 | +€166 | +48764.7% |
| Recurring financial income | 75 | €0 | €166 | +€166 | +48764.7% |
| Financial charges | 65/66B | €51 | €140 | +€89 | +175.1% |
| Recurring financial charges | 65 | €51 | €140 | +€89 | +175.1% |
| Profit (loss) for the period before taxes | 9903 | €28,538 | €103,895 | +€75,357 | +264.1% |
| Income taxes | 67/77 | €8,864 | €21,804 | +€12,940 | +146.0% |
| Profit (loss) for the period | 9904 | €19,674 | €82,092 | +€62,418 | +317.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,674 | €82,092 | +€62,418 | +317.3% |
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 9 October 2026 via checked.be.