THE SWING KING: 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.
THE SWING KING
Largest movements
- Tangible fixed assets -€33,249
down €33,249 (-94.9%), from €35,019 to €1,771
of which Other tangible fixed assets: -€25,815
- Stocks and contracts -€26,171
down €26,171 (-100%), from €26,171 to €0
- Financial fixed assets -€8,380
down €8,380 (-100%), from €8,380 to €0
- Cash -€1,740
down €1,740 (-11.7%), from €14,902 to €13,162
mainly Net result for the year (-€44,764) and Other debts (-€14,460)
- Receivables within one year +€1,664
up €1,664 (+8.1%), from €20,671 to €22,336
of which Trade receivables: +€4,656
- Profit (loss) carried forward -€44,764
down €44,764 (-28.5%), from -€157,133 to -€201,896
- Other debts -€14,460
down €14,460 (-7.5%), from €191,700 to €177,240
- Trade debts -€8,082
down €8,082 (-85.6%), from €9,445 to €1,364
- Tax, wage and social debts -€1,533
down €1,533 (-28.5%), from €5,384 to €3,851
of which Remuneration and social security: -€925
- Gross operating margin +€24,516
up €24,516, from -€14,979 to €9,536
- Depreciation -€8,622
down €8,622 (-85.3%), from €10,108 to €1,486
- Other operating charges +€4,138
up €4,138 (+98.9%), from €4,184 to €8,322
- Financial income -€394
down €394 (-93.4%), from €422 to €28
- Financial charges -€303
down €303 (-12.4%), from €2,439 to €2,136
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 | €106,157 | €37,315 | -€68,842 | -64.8% |
| Fixed assets | 21/28 | €43,399 | €1,771 | -€41,629 | -95.9% |
| Tangible fixed assets | 22/27 | €35,019 | €1,771 | -€33,249 | -94.9% |
| Plant, machinery and equipment | 23 | €9,204 | €1,771 | -€7,434 | -80.8% |
| Other tangible fixed assets | 26 | €25,815 | €0 | -€25,815 | -100% |
| Financial fixed assets | 28 | €8,380 | €0 | -€8,380 | -100% |
| Current assets | 29/58 | €62,758 | €35,544 | -€27,214 | -43.4% |
| Stocks and contracts in progress | 3 | €26,171 | €0 | -€26,171 | -100% |
| Stocks | 30/36 | €26,171 | €0 | -€26,171 | -100% |
| Amounts receivable within one year | 40/41 | €20,671 | €22,336 | +€1,664 | +8.1% |
| Trade receivables | 40 | €7,825 | €12,480 | +€4,656 | +59.5% |
| Other amounts receivable | 41 | €12,847 | €9,855 | -€2,991 | -23.3% |
| Cash at bank and in hand | 54/58 | €14,902 | €13,162 | -€1,740 | -11.7% |
| Deferred charges and accrued income | 490/1 | €1,013 | €47 | -€967 | -95.4% |
| Total equity and liabilities | 10/49 | €106,157 | €37,315 | -€68,842 | -64.8% |
| Equity | 10/15 | -€100,386 | -€145,150 | -€44,764 | -44.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,147 | €38,147 | = | 0.0% |
| Distributable reserves | 133 | €38,147 | €38,147 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,133 | -€201,896 | -€44,764 | -28.5% |
| Amounts payable | 17/49 | €206,543 | €182,465 | -€24,079 | -11.7% |
| Amounts payable within one year | 42/48 | €206,543 | €182,465 | -€24,079 | -11.7% |
| Financial debts | 43 | €14 | €11 | -€3 | -24.4% |
| Credit institutions | 430/8 | €14 | €11 | -€3 | -24.4% |
| Trade debts | 44 | €9,445 | €1,364 | -€8,082 | -85.6% |
| Suppliers | 440/4 | €9,445 | €1,364 | -€8,082 | -85.6% |
| Taxes, remuneration and social security | 45 | €5,384 | €3,851 | -€1,533 | -28.5% |
| Taxes | 450/3 | €3,384 | €2,776 | -€608 | -18.0% |
| Remuneration and social security | 454/9 | €2,000 | €1,075 | -€925 | -46.3% |
| Other amounts payable | 47/48 | €191,700 | €177,240 | -€14,460 | -7.5% |
| Non-recurring operating income | 76A | €455 | €0 | -€455 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,108 | €1,486 | -€8,622 | -85.3% |
| Other operating charges | 640/8 | €4,184 | €8,322 | +€4,138 | +98.9% |
| Non-recurring operating charges | 66A | - | €42,384 | +€42,384 | |
| Gross operating margin | 9900 | -€14,979 | €9,536 | +€24,516 | |
| Operating profit (loss) | 9901 | -€29,272 | -€42,655 | -€13,383 | -45.7% |
| Financial income | 75/76B | €422 | €28 | -€394 | -93.4% |
| Recurring financial income | 75 | €422 | €28 | -€394 | -93.4% |
| Financial charges | 65/66B | €2,439 | €2,136 | -€303 | -12.4% |
| Recurring financial charges | 65 | €2,439 | €2,136 | -€303 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,289 | -€44,764 | -€13,475 | -43.1% |
| Profit (loss) for the period | 9904 | -€31,289 | -€44,764 | -€13,475 | -43.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,289 | -€44,764 | -€13,475 | -43.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.