SWINCOM: what changed
SWINCOM
Largest movements
- Cash -€60,239
down €60,239 (-38.2%), from €157,527 to €97,288
mainly Contributions, distributions and other (-€48,406) and Net result for the year (-€18,668)
- Tangible fixed assets +€8,699
up €8,699 (+150%), from €5,814 to €14,513
- Receivables within one year -€7,573
down €7,573 (-33.5%), from €22,577 to €15,004
of which Trade receivables: -€12,133
- Reserves -€48,406
down €48,406 (-39.0%), from €124,146 to €75,740
of which Distributable reserves: -€48,406
- Profit (loss) carried forward -€18,668
down €18,668 (-966%), from -€1,933 to -€20,602
- Other debts +€15,868
up €15,868 (+48.8%), from €32,538 to €48,406
- Tax, wage and social debts -€4,120
down €4,120 (-37.2%), from €11,088 to €6,968
- Trade debts -€2,337
down €2,337 (-30.4%), from €7,680 to €5,343
- Gross operating margin -€43,687
down €43,687, from €30,963 to -€12,724
- Taxes -€9,499
down €9,499 (-78.8%), from €12,062 to €2,563
- Depreciation +€1,409
up €1,409 (+111%), from €1,267 to €2,676
- Other operating charges -€479
down €479 (-54.8%), from €874 to €395
- Financial charges -€462
down €462 (-59.8%), from €772 to €311
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €185,918 | €128,355 | -€57,563 | -31.0% |
| Fixed assets | 21/28 | €5,814 | €14,513 | +€8,699 | +150% |
| Tangible fixed assets | 22/27 | €5,814 | €14,513 | +€8,699 | +150% |
| Furniture and vehicles | 24 | €5,814 | €14,513 | +€8,699 | +150% |
| Current assets | 29/58 | €180,104 | €113,842 | -€66,262 | -36.8% |
| Amounts receivable within one year | 40/41 | €22,577 | €15,004 | -€7,573 | -33.5% |
| Trade receivables | 40 | €17,036 | €4,903 | -€12,133 | -71.2% |
| Other amounts receivable | 41 | €5,541 | €10,101 | +€4,560 | +82.3% |
| Cash at bank and in hand | 54/58 | €157,527 | €97,288 | -€60,239 | -38.2% |
| Deferred charges and accrued income | 490/1 | - | €1,550 | +€1,550 | |
| Total equity and liabilities | 10/49 | €185,918 | €128,355 | -€57,563 | -31.0% |
| Equity | 10/15 | €134,612 | €67,538 | -€67,075 | -49.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €124,146 | €75,740 | -€48,406 | -39.0% |
| Non-distributable reserves | 130/1 | €1,713 | €1,713 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,713 | €1,713 | = | 0.0% |
| Distributable reserves | 133 | €122,433 | €74,027 | -€48,406 | -39.5% |
| Profit (loss) carried forward | 14 | -€1,933 | -€20,602 | -€18,668 | -966% |
| Amounts payable | 17/49 | €51,306 | €60,818 | +€9,512 | +18.5% |
| Amounts payable within one year | 42/48 | €51,306 | €60,717 | +€9,412 | +18.3% |
| Trade debts | 44 | €7,680 | €5,343 | -€2,337 | -30.4% |
| Suppliers | 440/4 | €7,680 | €5,343 | -€2,337 | -30.4% |
| Taxes, remuneration and social security | 45 | €11,088 | €6,968 | -€4,120 | -37.2% |
| Taxes | 450/3 | €11,088 | €6,968 | -€4,120 | -37.2% |
| Other amounts payable | 47/48 | €32,538 | €48,406 | +€15,868 | +48.8% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Non-recurring operating income | 76A | €15,954 | - | -€15,954 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,267 | €2,676 | +€1,409 | +111% |
| Other operating charges | 640/8 | €874 | €395 | -€479 | -54.8% |
| Non-recurring operating charges | 66A | €85 | - | -€85 | |
| Gross operating margin | 9900 | €30,963 | -€12,724 | -€43,687 | |
| Operating profit (loss) | 9901 | €28,738 | -€15,795 | -€44,533 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €772 | €311 | -€462 | -59.8% |
| Recurring financial charges | 65 | €772 | €311 | -€462 | -59.8% |
| Profit (loss) for the period before taxes | 9903 | €27,966 | -€16,105 | -€44,071 | |
| Income taxes | 67/77 | €12,062 | €2,563 | -€9,499 | -78.8% |
| Profit (loss) for the period | 9904 | €15,903 | -€18,668 | -€34,572 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,903 | -€18,668 | -€34,572 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.