SIVAHO: 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.
SIVAHO
Largest movements
- Current investments +€80,085
new in 2025: €80,085
- Cash -€31,724
down €31,724 (-51.3%), from €61,791 to €30,068
mainly Current investments (-€80,085) and Investment in fixed assets (net) (-€16,237)
- Financial fixed assets +€10,000
new in 2025: €10,000
- Tangible fixed assets +€6,237
new in 2025: €6,237
- Receivables within one year +€3,068
up €3,068 (+18.9%), from €16,210 to €19,278
of which Other amounts receivable: +€2,684
- Reserves +€53,720
up €53,720 (+106%), from €50,631 to €104,351
- Tax, wage and social debts +€9,930
up €9,930 (+49.8%), from €19,934 to €29,864
of which Taxes: +€9,930
- Trade debts +€4,016
up €4,016 (+165%), from €2,437 to €6,453
- Gross operating margin +€3,947
up €3,947 (+5.6%), from €69,981 to €73,928
- Taxes +€1,110
up €1,110 (+5.8%), from €19,143 to €20,253
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 | €78,002 | €145,668 | +€67,666 | +86.7% |
| Fixed assets | 21/28 | - | €16,237 | +€16,237 | |
| Tangible fixed assets | 22/27 | - | €6,237 | +€6,237 | |
| Furniture and vehicles | 24 | - | €6,237 | +€6,237 | |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €78,002 | €129,431 | +€51,429 | +65.9% |
| Amounts receivable within one year | 40/41 | €16,210 | €19,278 | +€3,068 | +18.9% |
| Trade receivables | 40 | €16,210 | €16,594 | +€384 | +2.4% |
| Other amounts receivable | 41 | €0 | €2,684 | +€2,684 | +813,352% |
| Current investments | 50/53 | - | €80,085 | +€80,085 | |
| Cash at bank and in hand | 54/58 | €61,791 | €30,068 | -€31,724 | -51.3% |
| Total equity and liabilities | 10/49 | €78,002 | €145,668 | +€67,666 | +86.7% |
| Equity | 10/15 | €55,631 | €109,351 | +€53,720 | +96.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €50,631 | €104,351 | +€53,720 | +106% |
| Distributable reserves | 133 | €50,631 | €104,351 | +€53,720 | +106% |
| Amounts payable | 17/49 | €22,371 | €36,317 | +€13,947 | +62.3% |
| Amounts payable within one year | 42/48 | €22,371 | €36,317 | +€13,947 | +62.3% |
| Trade debts | 44 | €2,437 | €6,453 | +€4,016 | +165% |
| Suppliers | 440/4 | €2,437 | €6,453 | +€4,016 | +165% |
| Taxes, remuneration and social security | 45 | €19,934 | €29,864 | +€9,930 | +49.8% |
| Taxes | 450/3 | €16,934 | €26,864 | +€9,930 | +58.6% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other operating charges | 640/8 | €126 | €0 | -€126 | -100% |
| Gross operating margin | 9900 | €69,981 | €73,928 | +€3,947 | +5.6% |
| Operating profit (loss) | 9901 | €69,855 | €73,928 | +€4,073 | +5.8% |
| Financial income | 75/76B | - | €121 | +€121 | |
| Recurring financial income | 75 | - | €121 | +€121 | |
| Financial charges | 65/66B | €81 | €77 | -€4 | -5.3% |
| Recurring financial charges | 65 | €81 | €77 | -€4 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €69,774 | €73,973 | +€4,199 | +6.0% |
| Income taxes | 67/77 | €19,143 | €20,253 | +€1,110 | +5.8% |
| Profit (loss) for the period | 9904 | €50,631 | €53,720 | +€3,089 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €50,631 | €53,720 | +€3,089 | +6.1% |
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 27 October 2026 via checked.be.