SGVE: what changed
Two fiscal 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.
SGVE
Largest movements
- Cash -€29,065
down €29,065 (-21.2%), from €137,013 to €107,948
mainly Contributions, distributions and other (-€50,000) and Trade debts (-€12,003)
- Receivables within one year +€10,641
up €10,641 (+18.4%), from €57,684 to €68,325
of which Trade receivables: +€11,231
- Tangible fixed assets +€5,540
up €5,540 (+110.4%), from €5,016 to €10,556
of which Plant, machinery and equipment: +€6,458
- Profit (loss) carried forward -€12,701
down €12,701 (-10.8%), from €118,081 to €105,380
- Trade debts -€12,003
down €12,003 (-95.3%), from €12,599 to €596
- Other debts +€10,000
up €10,000 (+25.0%), from €40,000 to €50,000
- Gross operating margin +€8,525
up €8,525 (+20.4%), from €41,729 to €50,254
- Taxes +€1,680
up €1,680 (+18.9%), from €8,910 to €10,590
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 | €199,864 | €186,983 | -€12,881 | -6.4% |
| Fixed assets | 21/28 | €5,016 | €10,556 | +€5,540 | +110.4% |
| Tangible fixed assets | 22/27 | €5,016 | €10,556 | +€5,540 | +110.4% |
| Plant, machinery and equipment | 23 | €3,655 | €10,113 | +€6,458 | +176.7% |
| Furniture and vehicles | 24 | €1,362 | €444 | -€918 | -67.4% |
| Current assets | 29/58 | €194,848 | €176,427 | -€18,421 | -9.5% |
| Amounts receivable within one year | 40/41 | €57,684 | €68,325 | +€10,641 | +18.4% |
| Trade receivables | 40 | €49,594 | €60,825 | +€11,231 | +22.6% |
| Other amounts receivable | 41 | €8,090 | €7,500 | -€590 | -7.3% |
| Cash at bank and in hand | 54/58 | €137,013 | €107,948 | -€29,065 | -21.2% |
| Deferred charges and accrued income | 490/1 | €152 | €154 | +€2 | +1.6% |
| Total equity and liabilities | 10/49 | €199,864 | €186,983 | -€12,881 | -6.4% |
| Equity | 10/15 | €138,541 | €125,840 | -€12,701 | -9.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,081 | €105,380 | -€12,701 | -10.8% |
| Amounts payable | 17/49 | €61,323 | €61,144 | -€179 | -0.3% |
| Amounts payable within one year | 42/48 | €61,323 | €61,144 | -€179 | -0.3% |
| Trade debts | 44 | €12,599 | €596 | -€12,003 | -95.3% |
| Suppliers | 440/4 | €12,599 | €596 | -€12,003 | -95.3% |
| Taxes, remuneration and social security | 45 | €8,724 | €10,547 | +€1,823 | +20.9% |
| Taxes | 450/3 | €8,724 | €10,547 | +€1,823 | +20.9% |
| Other amounts payable | 47/48 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,758 | €1,580 | -€178 | -10.1% |
| Other operating charges | 640/8 | €606 | €629 | +€23 | +3.8% |
| Gross operating margin | 9900 | €41,729 | €50,254 | +€8,525 | +20.4% |
| Operating profit (loss) | 9901 | €39,365 | €48,045 | +€8,680 | +22.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -92.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -92.3% |
| Financial charges | 65/66B | €156 | €157 | +€1 | +0.9% |
| Recurring financial charges | 65 | €156 | €157 | +€1 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €39,210 | €47,888 | +€8,679 | +22.1% |
| Income taxes | 67/77 | €8,910 | €10,590 | +€1,680 | +18.9% |
| Profit (loss) for the period | 9904 | €30,300 | €37,299 | +€6,999 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,300 | €37,299 | +€6,999 | +23.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.