S&V PARTNERS: 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 PARTNERS
Largest movements
- Current investments +€74,997
up €74,997 (+8.7%), from €858,953 to €933,950
- Cash -€62,083
down €62,083 (-49.0%), from €126,797 to €64,714
mainly Current investments (-€74,997) and Tax, wage and social debts (-€24,539)
- Receivables within one year +€13,698
up €13,698 (+26.1%), from €52,459 to €66,157
of which Trade receivables: +€15,768
- Reserves +€49,234
up €49,234 (+5.0%), from €979,723 to €1.0m
- Tax, wage and social debts -€24,539
down €24,539 (-68.6%), from €35,781 to €11,242
- Gross operating margin -€69,661
down €69,661 (-50.1%), from €138,985 to €69,324
- Taxes -€27,402
down €27,402 (-54.0%), from €50,784 to €23,381
- Financial income -€11,116
down €11,116 (-39.0%), from €28,473 to €17,357
- Depreciation +€7,325
up €7,325 (+354%), from €2,071 to €9,396
- Other operating charges +€2,485
up €2,485 (+136%), from €1,833 to €4,317
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 | €1,083,979 | €1,098,575 | +€14,596 | +1.3% |
| Fixed assets | 21/28 | €40,184 | €30,788 | -€9,396 | -23.4% |
| Tangible fixed assets | 22/27 | €40,168 | €30,772 | -€9,396 | -23.4% |
| Furniture and vehicles | 24 | €40,168 | €30,772 | -€9,396 | -23.4% |
| Financial fixed assets | 28 | €16 | €16 | = | 0.0% |
| Current assets | 29/58 | €1,043,795 | €1,067,786 | +€23,991 | +2.3% |
| Amounts receivable within one year | 40/41 | €52,459 | €66,157 | +€13,698 | +26.1% |
| Trade receivables | 40 | €19,375 | €35,143 | +€15,768 | +81.4% |
| Other amounts receivable | 41 | €33,084 | €31,014 | -€2,070 | -6.3% |
| Current investments | 50/53 | €858,953 | €933,950 | +€74,997 | +8.7% |
| Cash at bank and in hand | 54/58 | €126,797 | €64,714 | -€62,083 | -49.0% |
| Deferred charges and accrued income | 490/1 | €5,586 | €2,965 | -€2,621 | -46.9% |
| Total equity and liabilities | 10/49 | €1,083,979 | €1,098,575 | +€14,596 | +1.3% |
| Equity | 10/15 | €1,037,538 | €1,086,772 | +€49,234 | +4.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €979,723 | €1,028,957 | +€49,234 | +5.0% |
| Distributable reserves | 133 | €979,723 | €1,028,957 | +€49,234 | +5.0% |
| Profit (loss) carried forward | 14 | €39,265 | €39,265 | = | 0.0% |
| Amounts payable | 17/49 | €46,441 | €11,802 | -€34,638 | -74.6% |
| Amounts payable within one year | 42/48 | €46,435 | €11,802 | -€34,633 | -74.6% |
| Trade debts | 44 | €428 | €560 | +€131 | +30.7% |
| Suppliers | 440/4 | €428 | €560 | +€131 | +30.7% |
| Taxes, remuneration and social security | 45 | €35,781 | €11,242 | -€24,539 | -68.6% |
| Taxes | 450/3 | €35,781 | €11,242 | -€24,539 | -68.6% |
| Other amounts payable | 47/48 | €10,226 | €0 | -€10,226 | -100% |
| Accrued charges and deferred income | 492/3 | €5 | €0 | -€5 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,071 | €9,396 | +€7,325 | +354% |
| Other operating charges | 640/8 | €1,833 | €4,317 | +€2,485 | +136% |
| Gross operating margin | 9900 | €138,985 | €69,324 | -€69,661 | -50.1% |
| Operating profit (loss) | 9901 | €135,082 | €55,611 | -€79,471 | -58.8% |
| Financial income | 75/76B | €28,473 | €17,357 | -€11,116 | -39.0% |
| Recurring financial income | 75 | €28,473 | €17,357 | -€11,116 | -39.0% |
| Financial charges | 65/66B | €1,600 | €352 | -€1,248 | -78.0% |
| Recurring financial charges | 65 | €1,600 | €352 | -€1,248 | -78.0% |
| Profit (loss) for the period before taxes | 9903 | €161,955 | €72,615 | -€89,339 | -55.2% |
| Income taxes | 67/77 | €50,784 | €23,381 | -€27,402 | -54.0% |
| Profit (loss) for the period | 9904 | €111,171 | €49,234 | -€61,937 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €111,171 | €49,234 | -€61,937 | -55.7% |
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 17 October 2026 via checked.be.