S&V: 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.
S&V
Largest movements
- Receivables within one year -€3,650
down €3,650 (-95.6%), from €3,819 to €169
of which Trade receivables: -€3,330
- Intangible fixed assets -€1,260
down €1,260 (-91.2%), from €1,381 to €121
- Profit (loss) carried forward -€2,932
down €2,932 (-18.9%), from -€15,478 to -€18,410
- Other debts -€1,978
down €1,978 (-95.2%), from €2,078 to €100
- Gross operating margin -€3,322
down €3,322, from €1,818 to -€1,504
- Other operating charges +€128
new in 2025: €128
- Financial charges +€40
new in 2025: €40
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,200 | €290 | -€4,910 | -94.4% |
| Fixed assets | 21/28 | €1,381 | €121 | -€1,260 | -91.2% |
| Intangible fixed assets | 21 | €1,381 | €121 | -€1,260 | -91.2% |
| Current assets | 29/58 | €3,819 | €169 | -€3,650 | -95.6% |
| Amounts receivable within one year | 40/41 | €3,819 | €169 | -€3,650 | -95.6% |
| Trade receivables | 40 | €3,330 | - | -€3,330 | |
| Other amounts receivable | 41 | €489 | €169 | -€320 | -65.5% |
| Total equity and liabilities | 10/49 | €5,200 | €290 | -€4,910 | -94.4% |
| Equity | 10/15 | €3,122 | €190 | -€2,932 | -93.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,478 | -€18,410 | -€2,932 | -18.9% |
| Amounts payable | 17/49 | €2,078 | €100 | -€1,978 | -95.2% |
| Amounts payable within one year | 42/48 | €2,078 | €100 | -€1,978 | -95.2% |
| Other amounts payable | 47/48 | €2,078 | €100 | -€1,978 | -95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,260 | €1,260 | = | 0.0% |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | €1,818 | -€1,504 | -€3,322 | |
| Operating profit (loss) | 9901 | €558 | -€2,892 | -€3,450 | |
| Financial charges | 65/66B | - | €40 | +€40 | |
| Recurring financial charges | 65 | - | €40 | +€40 | |
| Profit (loss) for the period before taxes | 9903 | €558 | -€2,932 | -€3,490 | |
| Profit (loss) for the period | 9904 | €558 | -€2,932 | -€3,490 | |
| Profit (loss) for the period to be appropriated | 9905 | €558 | -€2,932 | -€3,490 |
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 1 November 2026 via checked.be.