S/V FACTORY: 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 FACTORY
Largest movements
- Receivables within one year -€8,516
down €8,516 (-22.2%), from €38,278 to €29,762
of which Trade receivables: -€8,251
- Cash +€587
new in 2025: €587
mainly Receivables within one year (+€8,516) and Other debts (+€207)
- Profit (loss) carried forward -€4,862
down €4,862 (-23.5%), from €20,719 to €15,857
- Tax, wage and social debts -€3,365
no longer reported in 2025 (was €3,365)
- Other operating charges +€1,665
new in 2025: €1,665
- Financial charges -€1,146
down €1,146 (-68.4%), from €1,676 to €530
- Gross operating margin +€1,073
up €1,073 (+30.0%), from -€3,575 to -€2,502
- Depreciation -€179
down €179 (-48.4%), from €371 to €192
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 | €38,470 | €30,349 | -€8,121 | -21.1% |
| Fixed assets | 21/28 | €192 | - | -€192 | |
| Tangible fixed assets | 22/27 | €192 | - | -€192 | |
| Furniture and vehicles | 24 | €192 | - | -€192 | |
| Current assets | 29/58 | €38,278 | €30,349 | -€7,929 | -20.7% |
| Amounts receivable within one year | 40/41 | €38,278 | €29,762 | -€8,516 | -22.2% |
| Trade receivables | 40 | €37,857 | €29,606 | -€8,251 | -21.8% |
| Other amounts receivable | 41 | €421 | €156 | -€265 | -63.0% |
| Cash at bank and in hand | 54/58 | - | €587 | +€587 | |
| Total equity and liabilities | 10/49 | €38,470 | €30,349 | -€8,121 | -21.1% |
| Equity | 10/15 | €30,529 | €25,667 | -€4,862 | -15.9% |
| Contributions | 10/11 | €6,212 | €6,212 | = | 0.0% |
| Reserves | 13 | €3,598 | €3,598 | = | 0.0% |
| Non-distributable reserves | 130/1 | €598 | €598 | = | 0.0% |
| Reserves not available under the articles | 1311 | €598 | €598 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,719 | €15,857 | -€4,862 | -23.5% |
| Amounts payable | 17/49 | €7,941 | €4,682 | -€3,259 | -41.0% |
| Amounts payable within one year | 42/48 | €7,941 | €4,682 | -€3,259 | -41.0% |
| Financial debts | 43 | €15 | - | -€15 | |
| Credit institutions | 430/8 | €15 | - | -€15 | |
| Trade debts | 44 | €2,831 | €2,745 | -€86 | -3.0% |
| Suppliers | 440/4 | €2,831 | €2,745 | -€86 | -3.0% |
| Taxes, remuneration and social security | 45 | €3,365 | - | -€3,365 | |
| Taxes | 450/3 | €3,365 | - | -€3,365 | |
| Other amounts payable | 47/48 | €1,729 | €1,936 | +€207 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €371 | €192 | -€179 | -48.4% |
| Other operating charges | 640/8 | - | €1,665 | +€1,665 | |
| Gross operating margin | 9900 | -€3,575 | -€2,502 | +€1,073 | +30.0% |
| Operating profit (loss) | 9901 | -€3,946 | -€4,359 | -€413 | -10.5% |
| Financial income | 75/76B | €0 | €27 | +€27 | +269,900% |
| Recurring financial income | 75 | €0 | €27 | +€27 | +269,900% |
| Financial charges | 65/66B | €1,676 | €530 | -€1,146 | -68.4% |
| Recurring financial charges | 65 | €1,676 | €530 | -€1,146 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,621 | -€4,862 | +€760 | +13.5% |
| Profit (loss) for the period | 9904 | -€5,621 | -€4,862 | +€760 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,621 | -€4,862 | +€760 | +13.5% |
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 30 October 2026 via checked.be.