S.V.S.: 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.S.
Largest movements
- Receivables within one year +€18,756
up €18,756 (+47.1%), from €39,835 to €58,590
of which Other amounts receivable: +€10,028
- Tangible fixed assets -€13,235
down €13,235 (-31.2%), from €42,473 to €29,237
of which Furniture and vehicles: -€7,941
- Cash +€7,890
up €7,890 (+58.1%), from €13,583 to €21,473
mainly Net result for the year (+€19,863) and Depreciation (+€13,235)
- Reserves +€12,000
up €12,000 (+38.3%), from €31,360 to €43,360
- Other debts +€2,500
up €2,500 (+50.0%), from €5,000 to €7,500
- Current portion of long-term debt -€1,270
no longer reported in 2025 (was €1,270)
- Gross operating margin +€19,337
up €19,337 (+63.1%), from €30,637 to €49,974
- Taxes +€5,251
up €5,251 (+117.8%), from €4,456 to €9,707
- Financial charges +€4,277
up €4,277 (+1262.0%), from €339 to €4,616
- Write-downs +€2,123
new in 2025: €2,123
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 | €96,170 | €109,895 | +€13,726 | +14.3% |
| Fixed assets | 21/28 | €42,473 | €29,237 | -€13,235 | -31.2% |
| Tangible fixed assets | 22/27 | €42,473 | €29,237 | -€13,235 | -31.2% |
| Land and buildings | 22 | €18,525 | €17,760 | -€765 | -4.1% |
| Plant, machinery and equipment | 23 | €14,571 | €10,042 | -€4,530 | -31.1% |
| Furniture and vehicles | 24 | €9,376 | €1,436 | -€7,941 | -84.7% |
| Current assets | 29/58 | €53,697 | €80,658 | +€26,961 | +50.2% |
| Amounts receivable within one year | 40/41 | €39,835 | €58,590 | +€18,756 | +47.1% |
| Trade receivables | 40 | €34,667 | €43,395 | +€8,728 | +25.2% |
| Other amounts receivable | 41 | €5,167 | €15,196 | +€10,028 | +194.1% |
| Cash at bank and in hand | 54/58 | €13,583 | €21,473 | +€7,890 | +58.1% |
| Deferred charges and accrued income | 490/1 | €279 | €594 | +€315 | +112.9% |
| Total equity and liabilities | 10/49 | €96,170 | €109,895 | +€13,726 | +14.3% |
| Equity | 10/15 | €72,114 | €84,478 | +€12,363 | +17.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,360 | €43,360 | +€12,000 | +38.3% |
| Distributable reserves | 133 | €31,360 | €43,360 | +€12,000 | +38.3% |
| Profit (loss) carried forward | 14 | €22,154 | €22,518 | +€363 | +1.6% |
| Amounts payable | 17/49 | €24,055 | €25,418 | +€1,362 | +5.7% |
| Amounts payable within one year | 42/48 | €23,309 | €25,216 | +€1,906 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €1,270 | - | -€1,270 | |
| Financial debts | 43 | €1,014 | €1,010 | -€5 | -0.5% |
| Credit institutions | 430/8 | €1,014 | €1,010 | -€5 | -0.5% |
| Trade debts | 44 | €9,423 | €9,772 | +€349 | +3.7% |
| Suppliers | 440/4 | €9,423 | €9,772 | +€349 | +3.7% |
| Taxes, remuneration and social security | 45 | €6,602 | €6,934 | +€332 | +5.0% |
| Taxes | 450/3 | €6,602 | €6,934 | +€332 | +5.0% |
| Other amounts payable | 47/48 | €5,000 | €7,500 | +€2,500 | +50.0% |
| Accrued charges and deferred income | 492/3 | €746 | €202 | -€544 | -72.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,048 | €13,235 | +€187 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,123 | +€2,123 | |
| Other operating charges | 640/8 | €964 | €1,023 | +€60 | +6.2% |
| Non-recurring operating charges | 66A | - | €1 | +€1 | |
| Gross operating margin | 9900 | €30,637 | €49,974 | +€19,337 | +63.1% |
| Operating profit (loss) | 9901 | €16,625 | €33,592 | +€16,967 | +102.1% |
| Financial income | 75/76B | €279 | €594 | +€315 | +112.9% |
| Recurring financial income | 75 | €279 | €594 | +€315 | +112.9% |
| Financial charges | 65/66B | €339 | €4,616 | +€4,277 | +1262.0% |
| Recurring financial charges | 65 | €339 | €4,616 | +€4,277 | +1262.0% |
| Profit (loss) for the period before taxes | 9903 | €16,566 | €29,571 | +€13,005 | +78.5% |
| Income taxes | 67/77 | €4,456 | €9,707 | +€5,251 | +117.8% |
| Profit (loss) for the period | 9904 | €12,109 | €19,863 | +€7,754 | +64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,109 | €19,863 | +€7,754 | +64.0% |
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 12 October 2026 via checked.be.