SBV Finance: what changed
SBV Finance
Largest movements
- Cash -€94,011
down €94,011 (-43.9%), from €213,964 to €119,953
mainly Contributions, distributions and other (-€480,036) and Deferred charges and accrued income (-€87,785)
- Deferred charges and accrued income +€87,785
up €87,785 (+100.0%), from €87,819 to €175,603
- Tangible fixed assets -€40,357
down €40,357 (-19.6%), from €206,336 to €165,979
of which Furniture and vehicles: -€40,354
- Current investments -€20,000
down €20,000 (-6.3%), from €320,000 to €300,000
- Other debts -€45,000
down €45,000 (-8.6%), from €525,000 to €480,000
- Debts after one year -€29,289
down €29,289 (-27.4%), from €106,887 to €77,598
- Trade debts +€9,698
up €9,698 (+1,766%), from €549 to €10,247
- Staff costs +€125,896
up €125,896 (+21.2%), from €593,095 to €718,990
- Gross operating margin +€89,071
up €89,071 (+7.6%), from €1.2m to €1.3m
- Depreciation +€22,416
up €22,416 (+81.5%), from €27,506 to €49,922
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 | €832,653 | €769,585 | -€63,067 | -7.6% |
| Fixed assets | 21/28 | €206,336 | €165,979 | -€40,357 | -19.6% |
| Tangible fixed assets | 22/27 | €206,336 | €165,979 | -€40,357 | -19.6% |
| Plant, machinery and equipment | 23 | €2 | - | -€2 | |
| Furniture and vehicles | 24 | €206,334 | €165,979 | -€40,354 | -19.6% |
| Current assets | 29/58 | €626,317 | €603,606 | -€22,711 | -3.6% |
| Amounts receivable within one year | 40/41 | €4,535 | €8,050 | +€3,515 | +77.5% |
| Other amounts receivable | 41 | €4,535 | €8,050 | +€3,515 | +77.5% |
| Current investments | 50/53 | €320,000 | €300,000 | -€20,000 | -6.3% |
| Cash at bank and in hand | 54/58 | €213,964 | €119,953 | -€94,011 | -43.9% |
| Deferred charges and accrued income | 490/1 | €87,819 | €175,603 | +€87,785 | +100.0% |
| Total equity and liabilities | 10/49 | €832,653 | €769,585 | -€63,067 | -7.6% |
| Equity | 10/15 | €64,513 | €65,770 | +€1,257 | +1.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €59,513 | €60,770 | +€1,257 | +2.1% |
| Distributable reserves | 133 | €59,513 | €60,770 | +€1,257 | +2.1% |
| Amounts payable | 17/49 | €768,140 | €703,816 | -€64,324 | -8.4% |
| Amounts payable after more than one year | 17 | €106,887 | €77,598 | -€29,289 | -27.4% |
| Financial debts | 170/4 | €106,887 | €77,598 | -€29,289 | -27.4% |
| Amounts payable within one year | 42/48 | €661,253 | €626,218 | -€35,035 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €69,332 | €65,552 | -€3,780 | -5.5% |
| Trade debts | 44 | €549 | €10,247 | +€9,698 | +1,766% |
| Suppliers | 440/4 | €549 | €10,247 | +€9,698 | +1,766% |
| Taxes, remuneration and social security | 45 | €66,372 | €70,419 | +€4,047 | +6.1% |
| Remuneration and social security | 454/9 | €66,372 | €70,419 | +€4,047 | +6.1% |
| Other amounts payable | 47/48 | €525,000 | €480,000 | -€45,000 | -8.6% |
| Remuneration, social security and pensions | 62 | €593,095 | €718,990 | +€125,896 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,506 | €49,922 | +€22,416 | +81.5% |
| Other operating charges | 640/8 | €2,913 | €1,614 | -€1,300 | -44.6% |
| Gross operating margin | 9900 | €1,172,048 | €1,261,119 | +€89,071 | +7.6% |
| Operating profit (loss) | 9901 | €548,534 | €490,593 | -€57,942 | -10.6% |
| Financial income | 75/76B | €4,254 | €8,263 | +€4,008 | +94.2% |
| Recurring financial income | 75 | €4,254 | €8,263 | +€4,008 | +94.2% |
| Financial charges | 65/66B | €6,198 | €5,606 | -€592 | -9.5% |
| Recurring financial charges | 65 | €6,198 | €5,606 | -€592 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €546,591 | €493,250 | -€53,342 | -9.8% |
| Income taxes | 67/77 | €13,842 | €11,957 | -€1,885 | -13.6% |
| Profit (loss) for the period | 9904 | €532,749 | €481,292 | -€51,457 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €532,749 | €481,292 | -€51,457 | -9.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.