SIVALERC: 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.
SIVALERC
Largest movements
- Receivables within one year +€266,818
up €266,818 (+146.6%), from €182,018 to €448,836
of which Trade receivables: +€248,000
- Stocks and contracts +€25,000
up €25,000 (+5.3%), from €470,000 to €495,000
- Deferred charges and accrued income +€12,941
up €12,941 (+486.6%), from €2,660 to €15,601
- Trade debts +€290,091
up €290,091 (+147.0%), from €197,319 to €487,409
- Current portion of long-term debt +€125,870
up €125,870 (+39.0%), from €322,722 to €448,592
- Other debts -€47,897
down €47,897 (-29.5%), from €162,338 to €114,441
- Profit (loss) carried forward -€32,530
down €32,530 (-41.4%), from -€78,581 to -€111,112
- Debts after one year -€17,092
down €17,092 (-65.8%), from €25,979 to €8,887
- Gross operating margin -€30,790
down €30,790 (-94.6%), from €32,550 to €1,761
- Financial charges +€12,616
up €12,616 (+70.7%), from €17,845 to €30,461
- Depreciation -€7,031
down €7,031 (-93.0%), from €7,562 to €531
- Other operating charges +€3,474
up €3,474 (+474.1%), from €733 to €4,207
- Financial income +€908
new in 2024: €908
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.
Cash bridge derived
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 | €657,639 | €968,276 | +€310,637 | +47.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €2,366 | +€2,366 | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | €2,366 | +€2,366 | |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | - | €2,366 | +€2,366 | |
| Current assets | 29/58 | €657,639 | €965,910 | +€308,271 | +46.9% |
| Stocks and contracts in progress | 3 | €470,000 | €495,000 | +€25,000 | +5.3% |
| Stocks | 30/36 | €470,000 | €495,000 | +€25,000 | +5.3% |
| Amounts receivable within one year | 40/41 | €182,018 | €448,836 | +€266,818 | +146.6% |
| Trade receivables | 40 | €174,042 | €422,042 | +€248,000 | +142.5% |
| Other amounts receivable | 41 | €7,976 | €26,794 | +€18,818 | +235.9% |
| Cash at bank and in hand | 54/58 | €2,962 | €6,474 | +€3,512 | +118.6% |
| Deferred charges and accrued income | 490/1 | €2,660 | €15,601 | +€12,941 | +486.6% |
| Total equity and liabilities | 10/49 | €657,639 | €968,276 | +€310,637 | +47.2% |
| Equity | 10/15 | -€58,581 | -€91,112 | -€32,530 | -55.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,581 | -€111,112 | -€32,530 | -41.4% |
| Amounts payable | 17/49 | €716,221 | €1,059,388 | +€343,167 | +47.9% |
| Amounts payable after more than one year | 17 | €25,979 | €8,887 | -€17,092 | -65.8% |
| Financial debts | 170/4 | €25,979 | €8,887 | -€17,092 | -65.8% |
| Amounts payable within one year | 42/48 | €690,242 | €1,050,501 | +€360,259 | +52.2% |
| Current portion of amounts payable after more than one year | 42 | €322,722 | €448,592 | +€125,870 | +39.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €197,319 | €487,409 | +€290,091 | +147.0% |
| Suppliers | 440/4 | €197,319 | €487,409 | +€290,091 | +147.0% |
| Taxes, remuneration and social security | 45 | €7,863 | €59 | -€7,804 | -99.3% |
| Taxes | 450/3 | €7,863 | €59 | -€7,804 | -99.3% |
| Other amounts payable | 47/48 | €162,338 | €114,441 | -€47,897 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,562 | €531 | -€7,031 | -93.0% |
| Other operating charges | 640/8 | €733 | €4,207 | +€3,474 | +474.1% |
| Gross operating margin | 9900 | €32,550 | €1,761 | -€30,790 | -94.6% |
| Operating profit (loss) | 9901 | €24,256 | -€2,977 | -€27,233 | |
| Financial income | 75/76B | - | €908 | +€908 | |
| Recurring financial income | 75 | - | €908 | +€908 | |
| Financial charges | 65/66B | €17,845 | €30,461 | +€12,616 | +70.7% |
| Recurring financial charges | 65 | €17,845 | €30,461 | +€12,616 | +70.7% |
| Profit (loss) for the period before taxes | 9903 | €6,411 | -€32,530 | -€38,941 | |
| Profit (loss) for the period | 9904 | €6,411 | -€32,530 | -€38,941 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,411 | -€32,530 | -€38,941 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.