D.SVN: 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.
D.SVN
Largest movements
- Tangible fixed assets -€36,122
down €36,122 (-48.3%), from €74,824 to €38,702
- Receivables within one year -€32,224
down €32,224 (-15.1%), from €213,741 to €181,517
of which Other amounts receivable: -€22,968
- Cash +€6,991
up €6,991 (+404%), from €1,730 to €8,721
mainly Receivables within one year (+€32,224) and Depreciation (+€31,972)
- Trade debts -€41,452
down €41,452 (-50.6%), from €81,936 to €40,484
- Debts after one year -€33,967
down €33,967 (-51.6%), from €65,865 to €31,899
- Profit (loss) carried forward +€15,739
up €15,739 (+13.7%), from €115,300 to €131,038
- Gross operating margin +€53,518
up €53,518 (+71.0%), from €75,362 to €128,880
- Write-downs +€46,000
new in 2025: €46,000
- Staff costs +€18,407
new in 2025: €18,407
- Depreciation -€4,150
down €4,150 (-11.5%), from €36,122 to €31,972
- Financial charges -€3,092
down €3,092 (-54.1%), from €5,715 to €2,623
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 | €305,330 | €243,974 | -€61,356 | -20.1% |
| Fixed assets | 21/28 | €74,824 | €38,702 | -€36,122 | -48.3% |
| Tangible fixed assets | 22/27 | €74,824 | €38,702 | -€36,122 | -48.3% |
| Furniture and vehicles | 24 | €74,824 | €38,702 | -€36,122 | -48.3% |
| Current assets | 29/58 | €230,505 | €205,272 | -€25,233 | -10.9% |
| Amounts receivable within one year | 40/41 | €213,741 | €181,517 | -€32,224 | -15.1% |
| Trade receivables | 40 | €131,057 | €121,801 | -€9,256 | -7.1% |
| Other amounts receivable | 41 | €82,684 | €59,716 | -€22,968 | -27.8% |
| Cash at bank and in hand | 54/58 | €1,730 | €8,721 | +€6,991 | +404% |
| Deferred charges and accrued income | 490/1 | €15,034 | €15,034 | = | 0.0% |
| Total equity and liabilities | 10/49 | €305,330 | €243,974 | -€61,356 | -20.1% |
| Equity | 10/15 | €121,887 | €137,625 | +€15,739 | +12.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €387 | €387 | = | 0.0% |
| Non-distributable reserves | 130/1 | €387 | €387 | = | 0.0% |
| Legal reserve | 130 | €387 | €387 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,300 | €131,038 | +€15,739 | +13.7% |
| Amounts payable | 17/49 | €183,443 | €106,349 | -€77,094 | -42.0% |
| Amounts payable after more than one year | 17 | €65,865 | €31,899 | -€33,967 | -51.6% |
| Financial debts | 170/4 | €65,865 | €31,899 | -€33,967 | -51.6% |
| Amounts payable within one year | 42/48 | €117,578 | €74,450 | -€43,127 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €35,642 | €33,967 | -€1,675 | -4.7% |
| Trade debts | 44 | €81,936 | €40,484 | -€41,452 | -50.6% |
| Suppliers | 440/4 | €81,936 | €40,484 | -€41,452 | -50.6% |
| Remuneration, social security and pensions | 62 | - | €18,407 | +€18,407 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,122 | €31,972 | -€4,150 | -11.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €46,000 | +€46,000 | |
| Other operating charges | 640/8 | €2,117 | €4,975 | +€2,857 | +135% |
| Gross operating margin | 9900 | €75,362 | €128,880 | +€53,518 | +71.0% |
| Operating profit (loss) | 9901 | €37,123 | €27,526 | -€9,597 | -25.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €5,715 | €2,623 | -€3,092 | -54.1% |
| Recurring financial charges | 65 | €5,715 | €2,623 | -€3,092 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €31,408 | €24,903 | -€6,505 | -20.7% |
| Income taxes | 67/77 | €9,985 | €9,164 | -€821 | -8.2% |
| Profit (loss) for the period | 9904 | €21,423 | €15,739 | -€5,685 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,423 | €15,739 | -€5,685 | -26.5% |
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 24 October 2026 via checked.be.