ManagedSV: 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.
ManagedSV
Largest movements
- Cash -€17,442
down €17,442 (-4.0%), from €440,479 to €423,037
mainly Contributions, distributions and other (-€362,086) and Accrued charges and deferred income (-€10,000)
- Receivables within one year -€14,798
down €14,798 (-22.6%), from €65,380 to €50,581
of which Other amounts receivable: -€9,731
- Reserves -€362,086
down €362,086 (-53.5%), from €676,241 to €314,155
of which Distributable reserves: -€362,086
- Profit (loss) carried forward +€231,684
up €231,684 (+92.3%), from €251,017 to €482,702
- Other debts +€86,973
up €86,973 (+122.4%), from €71,032 to €158,005
- Trade debts +€10,547
up €10,547 (+692.0%), from €1,524 to €12,072
- Gross operating margin +€67,785
up €67,785 (+42.5%), from €159,462 to €227,247
- Financial income +€18,732
up €18,732 (+20.9%), from €89,613 to €108,344
- Other operating charges +€11,012
up €11,012 (+367.5%), from €2,996 to €14,008
- Taxes +€4,885
up €4,885 (+6.8%), from €71,838 to €76,723
- Financial charges -€4,684
down €4,684 (-85.5%), from €5,479 to €795
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 | €1,032,010 | €994,450 | -€37,559 | -3.6% |
| Fixed assets | 21/28 | €421,693 | €416,859 | -€4,834 | -1.1% |
| Tangible fixed assets | 22/27 | €421,374 | €416,540 | -€4,834 | -1.1% |
| Land and buildings | 22 | €380,600 | €380,600 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,617 | €8,525 | +€3,908 | +84.6% |
| Furniture and vehicles | 24 | €36,157 | €27,415 | -€8,742 | -24.2% |
| Financial fixed assets | 28 | €319 | €319 | = | 0.0% |
| Current assets | 29/58 | €610,316 | €577,591 | -€32,725 | -5.4% |
| Amounts receivable within one year | 40/41 | €65,380 | €50,581 | -€14,798 | -22.6% |
| Trade receivables | 40 | €41,576 | €36,509 | -€5,067 | -12.2% |
| Other amounts receivable | 41 | €23,804 | €14,072 | -€9,731 | -40.9% |
| Current investments | 50/53 | €98,930 | €98,423 | -€508 | -0.5% |
| Cash at bank and in hand | 54/58 | €440,479 | €423,037 | -€17,442 | -4.0% |
| Deferred charges and accrued income | 490/1 | €5,528 | €5,551 | +€23 | +0.4% |
| Total equity and liabilities | 10/49 | €1,032,010 | €994,450 | -€37,559 | -3.6% |
| Equity | 10/15 | €928,258 | €797,857 | -€130,401 | -14.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €676,241 | €314,155 | -€362,086 | -53.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €674,381 | €312,295 | -€362,086 | -53.7% |
| Profit (loss) carried forward | 14 | €251,017 | €482,702 | +€231,684 | +92.3% |
| Amounts payable | 17/49 | €103,751 | €196,593 | +€92,842 | +89.5% |
| Amounts payable within one year | 42/48 | €93,751 | €196,593 | +€102,842 | +109.7% |
| Trade debts | 44 | €1,524 | €12,072 | +€10,547 | +692.0% |
| Suppliers | 440/4 | €1,524 | €12,072 | +€10,547 | +692.0% |
| Taxes, remuneration and social security | 45 | €21,195 | €26,516 | +€5,321 | +25.1% |
| Taxes | 450/3 | €21,195 | €26,516 | +€5,321 | +25.1% |
| Other amounts payable | 47/48 | €71,032 | €158,005 | +€86,973 | +122.4% |
| Accrued charges and deferred income | 492/3 | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,033 | €12,382 | +€349 | +2.9% |
| Other operating charges | 640/8 | €2,996 | €14,008 | +€11,012 | +367.5% |
| Gross operating margin | 9900 | €159,462 | €227,247 | +€67,785 | +42.5% |
| Operating profit (loss) | 9901 | €144,433 | €200,858 | +€56,425 | +39.1% |
| Financial income | 75/76B | €89,613 | €108,344 | +€18,732 | +20.9% |
| Recurring financial income | 75 | €89,613 | €108,344 | +€18,732 | +20.9% |
| Financial charges | 65/66B | €5,479 | €795 | -€4,684 | -85.5% |
| Recurring financial charges | 65 | €5,479 | €795 | -€4,684 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | €228,567 | €308,408 | +€79,841 | +34.9% |
| Income taxes | 67/77 | €71,838 | €76,723 | +€4,885 | +6.8% |
| Profit (loss) for the period | 9904 | €156,729 | €231,684 | +€74,956 | +47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €156,729 | €231,684 | +€74,956 | +47.8% |
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 11 October 2026 via checked.be.