SILVER VICTORY: 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.
SILVER VICTORY
Largest movements
- Tangible fixed assets -€447,180
down €447,180 (-10.4%), from €4.3m to €3.8m
- Cash -€86,830
down €86,830 (-62.1%), from €139,852 to €53,022
mainly Short-term financial debts (-€3.6m) and Net result for the year (-€1.3m)
- Contributions +€4.3m
up €4.3m (+110%), from €3.9m to €8.3m
- Short-term financial debts -€3.6m
down €3.6m (-98.6%), from €3.7m to €50,000
- Profit (loss) carried forward -€1.3m
down €1.3m (-11.1%), from -€11.4m to -€12.7m
- Gross operating margin +€466,405
up €466,405 (+63.6%), from -€732,864 to -€266,459
- Purchases and services -€267,276
down €267,276 (-25.5%), from €1.0m to €779,943
- Turnover +€199,129
up €199,129 (+63.3%), from €314,355 to €513,484
- Financial income +€13,976
new in 2024: €13,976
of which Financial income: +€13,976
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,519,539 | €3,978,745 | -€540,794 | -12.0% |
| Fixed assets | 21/28 | €4,289,169 | €3,841,989 | -€447,180 | -10.4% |
| Tangible fixed assets | 22/27 | €4,289,169 | €3,841,989 | -€447,180 | -10.4% |
| Furniture and vehicles | 24 | €4,289,169 | €3,841,989 | -€447,180 | -10.4% |
| Current assets | 29/58 | €230,370 | €136,756 | -€93,614 | -40.6% |
| Amounts receivable within one year | 40/41 | €82,578 | €83,734 | +€1,156 | +1.4% |
| Other amounts receivable | 41 | €82,578 | €83,734 | +€1,156 | +1.4% |
| Cash at bank and in hand | 54/58 | €139,852 | €53,022 | -€86,830 | -62.1% |
| Deferred charges and accrued income | 490/1 | €7,940 | - | -€7,940 | |
| Total equity and liabilities | 10/49 | €4,519,539 | €3,978,745 | -€540,794 | -12.0% |
| Equity | 10/15 | -€7,223,826 | -€4,160,456 | +€3.1m | +42.4% |
| Contributions | 10/11 | €3,946,500 | €8,276,500 | +€4.3m | +110% |
| Capital | 10 | €3,946,500 | €8,276,500 | +€4.3m | +110% |
| Issued capital | 100 | €3,946,500 | €8,276,500 | +€4.3m | +110% |
| Reserves | 13 | €242,458 | €242,458 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €236,308 | €236,308 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,412,784 | -€12,679,414 | -€1.3m | -11.1% |
| Amounts payable | 17/49 | €11,743,365 | €8,139,201 | -€3.6m | -30.7% |
| Amounts payable after more than one year | 17 | €8,000,000 | €8,000,000 | = | 0.0% |
| Financial debts | 170/4 | €8,000,000 | €8,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,739,444 | €139,201 | -€3.6m | -96.3% |
| Financial debts | 43 | €3,680,000 | €50,000 | -€3.6m | -98.6% |
| Other loans | 439 | €3,680,000 | €50,000 | -€3.6m | -98.6% |
| Trade debts | 44 | €59,444 | €80,256 | +€20,812 | +35.0% |
| Suppliers | 440/4 | €59,444 | €80,256 | +€20,812 | +35.0% |
| Other amounts payable | 47/48 | - | €8,945 | +€8,945 | |
| Accrued charges and deferred income | 492/3 | €3,921 | - | -€3,921 | |
| Turnover | 70 | €314,355 | €513,484 | +€199,129 | +63.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,047,219 | €779,943 | -€267,276 | -25.5% |
| Remuneration, social security and pensions | 62 | €560,971 | €562,840 | +€1,869 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €447,181 | €447,181 | = | 0.0% |
| Other operating charges | 640/8 | €1,322 | €2,880 | +€1,558 | +118% |
| Non-recurring operating charges | 66A | €12,700 | - | -€12,700 | |
| Gross operating margin | 9900 | -€732,864 | -€266,459 | +€466,405 | +63.6% |
| Operating profit (loss) | 9901 | -€1,755,038 | -€1,279,360 | +€475,678 | +27.1% |
| Financial income | 75/76B | - | €13,976 | +€13,976 | |
| Recurring financial income | 75 | - | €13,976 | +€13,976 | |
| Non-recurring financial income | 76B | - | €13,976 | +€13,976 | |
| Financial charges | 65/66B | €1,346 | €1,246 | -€100 | -7.4% |
| Recurring financial charges | 65 | €1,346 | €1,246 | -€100 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,756,384 | -€1,266,630 | +€489,754 | +27.9% |
| Profit (loss) for the period | 9904 | -€1,756,384 | -€1,266,630 | +€489,754 | +27.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,756,384 | -€1,266,630 | +€489,754 | +27.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.