S.V.C. BELGIUM: what changed
S.V.C. BELGIUM
Largest movements
- Receivables within one year -€31,516
down €31,516 (-87.1%), from €36,171 to €4,654
of which Trade receivables: -€27,966
- Stocks and contracts -€2,833
down €2,833 (-5.2%), from €55,000 to €52,167
of which Contracts in progress: -€20,000
- Cash +€1,834
up €1,834 (+247%), from €743 to €2,577
mainly Receivables within one year (+€31,516) and Net result for the year (+€13,293)
- Tangible fixed assets -€1,527
down €1,527 (-16.2%), from €9,454 to €7,927
of which Plant, machinery and equipment: -€1,027
- Deferred charges and accrued income -€1,056
down €1,056 (-52.8%), from €1,999 to €943
- Short-term financial debts -€22,736
no longer reported in 2025 (was €22,736)
- Accrued charges and deferred income -€20,820
down €20,820 (-63.5%), from €32,810 to €11,989
- Reserves +€13,793
up €13,793 (+273%), from €5,061 to €18,854
of which Distributable reserves: +€13,793
- Trade debts -€4,277
down €4,277 (-35.0%), from €12,217 to €7,940
- Advances received -€2,140
no longer reported in 2025 (was €2,140)
- Gross operating margin +€18,685
up €18,685 (+588%), from €3,179 to €21,864
- Taxes +€4,625
up €4,625 (+838%), from €552 to €5,177
- Financial income +€1,829
up €1,829 (+109%), from €1,679 to €3,508
of which Non-recurring financial income: +€2,136
- Financial charges -€446
down €446 (-14.4%), from €3,092 to €2,646
of which Non-recurring financial charges: -€285
- Depreciation -€242
down €242 (-13.7%), from €1,769 to €1,527
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 | €103,367 | €68,269 | -€35,098 | -34.0% |
| Fixed assets | 21/28 | €9,454 | €7,927 | -€1,527 | -16.2% |
| Tangible fixed assets | 22/27 | €9,454 | €7,927 | -€1,527 | -16.2% |
| Plant, machinery and equipment | 23 | €7,454 | €6,427 | -€1,027 | -13.8% |
| Other tangible fixed assets | 26 | €2,000 | €1,500 | -€500 | -25.0% |
| Current assets | 29/58 | €93,913 | €60,342 | -€33,571 | -35.7% |
| Stocks and contracts in progress | 3 | €55,000 | €52,167 | -€2,833 | -5.2% |
| Stocks | 30/36 | €35,000 | €52,167 | +€17,167 | +49.0% |
| Contracts in progress | 37 | €20,000 | - | -€20,000 | |
| Amounts receivable within one year | 40/41 | €36,171 | €4,654 | -€31,516 | -87.1% |
| Trade receivables | 40 | €30,285 | €2,319 | -€27,966 | -92.3% |
| Other amounts receivable | 41 | €5,885 | €2,335 | -€3,550 | -60.3% |
| Cash at bank and in hand | 54/58 | €743 | €2,577 | +€1,834 | +247% |
| Deferred charges and accrued income | 490/1 | €1,999 | €943 | -€1,056 | -52.8% |
| Total equity and liabilities | 10/49 | €103,367 | €68,269 | -€35,098 | -34.0% |
| Equity | 10/15 | €27,061 | €40,354 | +€13,293 | +49.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €2,000 | €1,500 | -€500 | -25.0% |
| Reserves | 13 | €5,061 | €18,854 | +€13,793 | +273% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €3,061 | €16,854 | +€13,793 | +451% |
| Amounts payable | 17/49 | €76,306 | €27,915 | -€48,391 | -63.4% |
| Amounts payable within one year | 42/48 | €43,497 | €15,926 | -€27,571 | -63.4% |
| Financial debts | 43 | €22,736 | - | -€22,736 | |
| Credit institutions | 430/8 | €22,736 | - | -€22,736 | |
| Trade debts | 44 | €12,217 | €7,940 | -€4,277 | -35.0% |
| Suppliers | 440/4 | €12,217 | €7,940 | -€4,277 | -35.0% |
| Advances received on contracts in progress | 46 | €2,140 | - | -€2,140 | |
| Taxes, remuneration and social security | 45 | €6,404 | €7,518 | +€1,114 | +17.4% |
| Taxes | 450/3 | €6,404 | €7,518 | +€1,114 | +17.4% |
| Other amounts payable | 47/48 | - | €468 | +€468 | |
| Accrued charges and deferred income | 492/3 | €32,810 | €11,989 | -€20,820 | -63.5% |
| Non-recurring operating income | 76A | €10,264 | - | -€10,264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,769 | €1,527 | -€242 | -13.7% |
| Other operating charges | 640/8 | €2,778 | €2,729 | -€48 | -1.7% |
| Gross operating margin | 9900 | €3,179 | €21,864 | +€18,685 | +588% |
| Operating profit (loss) | 9901 | -€1,368 | €17,607 | +€18,975 | |
| Financial income | 75/76B | €1,679 | €3,508 | +€1,829 | +109% |
| Recurring financial income | 75 | €402 | €95 | -€307 | -76.4% |
| Non-recurring financial income | 76B | €1,277 | €3,413 | +€2,136 | +167% |
| Financial charges | 65/66B | €3,092 | €2,646 | -€446 | -14.4% |
| Recurring financial charges | 65 | €2,807 | €2,646 | -€161 | -5.8% |
| Non-recurring financial charges | 66B | €285 | - | -€285 | |
| Profit (loss) for the period before taxes | 9903 | -€2,781 | €18,470 | +€21,251 | |
| Income taxes | 67/77 | €552 | €5,177 | +€4,625 | +838% |
| Profit (loss) for the period | 9904 | -€3,333 | €13,293 | +€16,626 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,333 | €13,293 | +€16,626 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.