TECHSWAP: 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.
TECHSWAP
Largest movements
- Receivables within one year -€210,304
down €210,304 (-74.9%), from €280,706 to €70,403
of which Trade receivables: -€181,090
- Stocks and contracts -€19,473
down €19,473 (-54.2%), from €35,906 to €16,433
- Tangible fixed assets -€11,979
down €11,979 (-39.2%), from €30,532 to €18,553
of which Plant, machinery and equipment: -€6,061
- Profit (loss) carried forward -€177,692
down €177,692 (-127.5%), from -€139,372 to -€317,064
- Short-term financial debts -€76,941
down €76,941 (-67.2%), from €114,515 to €37,574
of which Credit institutions: -€76,941
- Other debts +€71,443
up €71,443 (+367.4%), from €19,446 to €90,889
- Trade debts -€59,034
down €59,034 (-41.3%), from €143,002 to €83,968
- Debts after one year -€6,741
down €6,741 (-48.8%), from €13,807 to €7,066
- Gross operating margin -€116,043
down €116,043, from €29,843 to -€86,199
- Staff costs -€31,877
down €31,877 (-34.7%), from €91,873 to €59,995
- Financial charges -€3,852
down €3,852 (-22.3%), from €17,263 to €13,411
- Other operating charges -€3,480
down €3,480 (-38.4%), from €9,066 to €5,586
- Depreciation -€1,467
down €1,467 (-10.6%), from €13,835 to €12,368
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 | €355,245 | €108,772 | -€246,473 | -69.4% |
| Fixed assets | 21/28 | €33,795 | €18,553 | -€15,242 | -45.1% |
| Intangible fixed assets | 21 | €3,263 | - | -€3,263 | |
| Tangible fixed assets | 22/27 | €30,532 | €18,553 | -€11,979 | -39.2% |
| Plant, machinery and equipment | 23 | €19,349 | €13,287 | -€6,061 | -31.3% |
| Furniture and vehicles | 24 | €10,153 | €4,396 | -€5,757 | -56.7% |
| Other tangible fixed assets | 26 | €1,029 | €870 | -€160 | -15.5% |
| Current assets | 29/58 | €321,450 | €90,219 | -€231,231 | -71.9% |
| Stocks and contracts in progress | 3 | €35,906 | €16,433 | -€19,473 | -54.2% |
| Stocks | 30/36 | €35,906 | €16,433 | -€19,473 | -54.2% |
| Amounts receivable within one year | 40/41 | €280,706 | €70,403 | -€210,304 | -74.9% |
| Trade receivables | 40 | €207,822 | €26,733 | -€181,090 | -87.1% |
| Other amounts receivable | 41 | €72,884 | €43,670 | -€29,214 | -40.1% |
| Cash at bank and in hand | 54/58 | €4,838 | €3,383 | -€1,455 | -30.1% |
| Total equity and liabilities | 10/49 | €355,245 | €108,772 | -€246,473 | -69.4% |
| Equity | 10/15 | -€16,172 | -€193,864 | -€177,692 | -1098.7% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €11,200 | €11,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,200 | €11,200 | = | 0.0% |
| Legal reserve | 130 | €11,200 | €11,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€139,372 | -€317,064 | -€177,692 | -127.5% |
| Amounts payable | 17/49 | €371,417 | €302,636 | -€68,781 | -18.5% |
| Amounts payable after more than one year | 17 | €13,807 | €7,066 | -€6,741 | -48.8% |
| Financial debts | 170/4 | €13,807 | €7,066 | -€6,741 | -48.8% |
| Amounts payable within one year | 42/48 | €357,610 | €295,570 | -€62,040 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €9,807 | €6,741 | -€3,067 | -31.3% |
| Financial debts | 43 | €114,515 | €37,574 | -€76,941 | -67.2% |
| Credit institutions | 430/8 | €80,315 | €3,374 | -€76,941 | -95.8% |
| Other loans | 439 | €34,200 | €34,200 | = | 0.0% |
| Trade debts | 44 | €143,002 | €83,968 | -€59,034 | -41.3% |
| Suppliers | 440/4 | €143,002 | €83,968 | -€59,034 | -41.3% |
| Taxes, remuneration and social security | 45 | €70,839 | €76,399 | +€5,559 | +7.8% |
| Taxes | 450/3 | €61,758 | €70,020 | +€8,262 | +13.4% |
| Remuneration and social security | 454/9 | €9,081 | €6,378 | -€2,703 | -29.8% |
| Other amounts payable | 47/48 | €19,446 | €90,889 | +€71,443 | +367.4% |
| Remuneration, social security and pensions | 62 | €91,873 | €59,995 | -€31,877 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,835 | €12,368 | -€1,467 | -10.6% |
| Other operating charges | 640/8 | €9,066 | €5,586 | -€3,480 | -38.4% |
| Non-recurring operating charges | 66A | €2,249 | - | -€2,249 | |
| Gross operating margin | 9900 | €29,843 | -€86,199 | -€116,043 | |
| Operating profit (loss) | 9901 | -€87,179 | -€164,148 | -€76,969 | -88.3% |
| Financial income | 75/76B | €28 | €8 | -€20 | -70.5% |
| Recurring financial income | 75 | €28 | €8 | -€20 | -70.5% |
| Financial charges | 65/66B | €17,263 | €13,411 | -€3,852 | -22.3% |
| Recurring financial charges | 65 | €17,263 | €13,411 | -€3,852 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€104,414 | -€177,551 | -€73,137 | -70.0% |
| Income taxes | 67/77 | €419 | €141 | -€278 | -66.3% |
| Profit (loss) for the period | 9904 | -€104,833 | -€177,692 | -€72,859 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€104,833 | -€177,692 | -€72,859 | -69.5% |
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.