SBV INTERNATIONAL: what changed
SBV INTERNATIONAL
Largest movements
- Stocks and contracts +€162,107
up €162,107 (+70.7%), from €229,337 to €391,443
- Cash -€105,052
down €105,052 (-91.3%), from €115,018 to €9,966
mainly Stocks and contracts (-€162,107) and Receivables within one year (-€35,945)
- Receivables within one year +€35,945
up €35,945 (+75.5%), from €47,596 to €83,540
of which Trade receivables: +€35,589
- Tangible fixed assets +€11,516
up €11,516 (+43.8%), from €26,311 to €37,827
of which Furniture and vehicles: +€12,755
- Trade debts +€111,218
up €111,218 (+2,958%), from €3,760 to €114,978
- Profit (loss) carried forward +€20,350
up €20,350 (+493%), from €4,130 to €24,480
- Other debts -€18,420
down €18,420 (-5.0%), from €365,527 to €347,107
- Tax, wage and social debts -€8,653
down €8,653 (-32.8%), from €26,364 to €17,711
of which Remuneration and social security: -€6,990
- Gross operating margin +€35,727
up €35,727 (+219%), from €16,334 to €52,061
- Financial charges +€10,500
up €10,500 (+4,606%), from €228 to €10,728
- Taxes +€9,720
new in 2025: €9,720
- Depreciation -€1,849
down €1,849 (-14.6%), from €12,631 to €10,782
- Other operating charges +€625
new in 2025: €625
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 | €418,381 | €522,876 | +€104,495 | +25.0% |
| Fixed assets | 21/28 | €26,431 | €37,827 | +€11,396 | +43.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €26,311 | €37,827 | +€11,516 | +43.8% |
| Plant, machinery and equipment | 23 | €1,967 | €1,547 | -€420 | -21.4% |
| Furniture and vehicles | 24 | €18,661 | €31,416 | +€12,755 | +68.4% |
| Other tangible fixed assets | 26 | €5,682 | €4,864 | -€819 | -14.4% |
| Financial fixed assets | 28 | €120 | €0 | -€120 | -100% |
| Current assets | 29/58 | €391,950 | €485,049 | +€93,099 | +23.8% |
| Stocks and contracts in progress | 3 | €229,337 | €391,443 | +€162,107 | +70.7% |
| Stocks | 30/36 | €229,337 | €391,443 | +€162,107 | +70.7% |
| Amounts receivable within one year | 40/41 | €47,596 | €83,540 | +€35,945 | +75.5% |
| Trade receivables | 40 | €33,048 | €68,636 | +€35,589 | +108% |
| Other amounts receivable | 41 | €14,548 | €14,904 | +€356 | +2.4% |
| Cash at bank and in hand | 54/58 | €115,018 | €9,966 | -€105,052 | -91.3% |
| Deferred charges and accrued income | 490/1 | - | €100 | +€100 | |
| Total equity and liabilities | 10/49 | €418,381 | €522,876 | +€104,495 | +25.0% |
| Equity | 10/15 | €22,730 | €43,080 | +€20,350 | +89.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | €4,130 | €24,480 | +€20,350 | +493% |
| Amounts payable | 17/49 | €395,651 | €479,796 | +€84,145 | +21.3% |
| Amounts payable within one year | 42/48 | €395,651 | €479,796 | +€84,145 | +21.3% |
| Trade debts | 44 | €3,760 | €114,978 | +€111,218 | +2,958% |
| Suppliers | 440/4 | €3,760 | €114,978 | +€111,218 | +2,958% |
| Taxes, remuneration and social security | 45 | €26,364 | €17,711 | -€8,653 | -32.8% |
| Taxes | 450/3 | €19,373 | €17,711 | -€1,663 | -8.6% |
| Remuneration and social security | 454/9 | €6,990 | €0 | -€6,990 | -100% |
| Other amounts payable | 47/48 | €365,527 | €347,107 | -€18,420 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,631 | €10,782 | -€1,849 | -14.6% |
| Other operating charges | 640/8 | - | €625 | +€625 | |
| Gross operating margin | 9900 | €16,334 | €52,061 | +€35,727 | +219% |
| Operating profit (loss) | 9901 | €3,703 | €40,655 | +€36,951 | +998% |
| Financial income | 75/76B | €347 | €143 | -€204 | -58.7% |
| Recurring financial income | 75 | €347 | €143 | -€204 | -58.7% |
| Financial charges | 65/66B | €228 | €10,728 | +€10,500 | +4,606% |
| Recurring financial charges | 65 | €228 | €10,728 | +€10,500 | +4,606% |
| Profit (loss) for the period before taxes | 9903 | €3,822 | €30,070 | +€26,247 | +687% |
| Income taxes | 67/77 | - | €9,720 | +€9,720 | |
| Profit (loss) for the period | 9904 | €3,822 | €20,350 | +€16,528 | +432% |
| Profit (loss) for the period to be appropriated | 9905 | €3,822 | €20,350 | +€16,528 | +432% |
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 3 November 2026 via checked.be.