SIVAHE: 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.
SIVAHE
Largest movements
- Cash +€48,262
up €48,262 (+41.4%), from €116,473 to €164,736
mainly Net result for the year (+€44,080) and Tax, wage and social debts (+€6,926)
- Tangible fixed assets +€7,405
new in 2025: €7,405
- Reserves +€44,080
up €44,080 (+41.3%), from €106,719 to €150,799
- Tax, wage and social debts +€6,926
up €6,926 (+183%), from €3,776 to €10,702
- Other debts +€5,116
up €5,116 (+599%), from €854 to €5,970
- Gross operating margin +€9,632
up €9,632 (+18.0%), from €53,555 to €63,186
- Taxes +€2,410
up €2,410 (+16.7%), from €14,463 to €16,873
- Depreciation +€1,595
new in 2025: €1,595
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.
Derived cash bridge
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 | €116,634 | €172,297 | +€55,663 | +47.7% |
| Fixed assets | 21/28 | - | €7,405 | +€7,405 | |
| Tangible fixed assets | 22/27 | - | €7,405 | +€7,405 | |
| Furniture and vehicles | 24 | - | €7,405 | +€7,405 | |
| Current assets | 29/58 | €116,634 | €164,892 | +€48,258 | +41.4% |
| Amounts receivable within one year | 40/41 | €4 | €0 | -€4 | -100% |
| Other amounts receivable | 41 | €4 | €0 | -€4 | -100% |
| Cash at bank and in hand | 54/58 | €116,473 | €164,736 | +€48,262 | +41.4% |
| Deferred charges and accrued income | 490/1 | €156 | €156 | = | 0.0% |
| Total equity and liabilities | 10/49 | €116,634 | €172,297 | +€55,663 | +47.7% |
| Equity | 10/15 | €109,719 | €153,799 | +€44,080 | +40.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €106,719 | €150,799 | +€44,080 | +41.3% |
| Distributable reserves | 133 | €106,719 | €150,799 | +€44,080 | +41.3% |
| Amounts payable | 17/49 | €6,915 | €18,499 | +€11,584 | +168% |
| Amounts payable within one year | 42/48 | €4,990 | €16,672 | +€11,682 | +234% |
| Trade debts | 44 | €360 | €0 | -€360 | -100% |
| Suppliers | 440/4 | €360 | €0 | -€360 | -100% |
| Taxes, remuneration and social security | 45 | €3,776 | €10,702 | +€6,926 | +183% |
| Taxes | 450/3 | €3,776 | €10,702 | +€6,926 | +183% |
| Other amounts payable | 47/48 | €854 | €5,970 | +€5,116 | +599% |
| Accrued charges and deferred income | 492/3 | €1,925 | €1,827 | -€98 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,595 | +€1,595 | |
| Other operating charges | 640/8 | €899 | €1,188 | +€289 | +32.1% |
| Gross operating margin | 9900 | €53,555 | €63,186 | +€9,632 | +18.0% |
| Operating profit (loss) | 9901 | €52,655 | €60,404 | +€7,748 | +14.7% |
| Financial income | 75/76B | - | €588 | +€588 | |
| Recurring financial income | 75 | - | €588 | +€588 | |
| Financial charges | 65/66B | €39 | €39 | -€0 | -1.2% |
| Recurring financial charges | 65 | €39 | €39 | -€0 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €52,616 | €60,953 | +€8,336 | +15.8% |
| Income taxes | 67/77 | €14,463 | €16,873 | +€2,410 | +16.7% |
| Profit (loss) for the period | 9904 | €38,153 | €44,080 | +€5,927 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,153 | €44,080 | +€5,927 | +15.5% |
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 23 October 2026 via checked.be.