SIVERMO: 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.
SIVERMO
Largest movements
- Tangible fixed assets -€18,769
down €18,769 (-15.4%), from €122,089 to €103,320
of which Furniture and vehicles: -€17,303
- Cash +€8,687
up €8,687 (+294.2%), from €2,953 to €11,639
mainly Depreciation (+€18,769) and Net result for the year (+€6,054)
- Debts after one year -€9,919
down €9,919 (-11.7%), from €84,983 to €75,064
- Current portion of long-term debt -€9,293
down €9,293 (-48.4%), from €19,212 to €9,919
- Profit (loss) carried forward +€6,054
up €6,054 (+21.5%), from -€28,176 to -€22,122
- Tax, wage and social debts +€3,125
up €3,125 (+120.2%), from €2,600 to €5,725
- Gross operating margin +€37,879
up €37,879, from -€11,406 to €26,473
- Depreciation -€8,628
down €8,628 (-31.5%), from €27,397 to €18,769
- Financial charges -€451
down €451 (-30.0%), from €1,504 to €1,053
- Other operating charges -€376
down €376 (-38.7%), from €973 to €597
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,246 | €165,119 | -€9,127 | -5.2% |
| Fixed assets | 21/28 | €122,089 | €103,320 | -€18,769 | -15.4% |
| Tangible fixed assets | 22/27 | €122,089 | €103,320 | -€18,769 | -15.4% |
| Plant, machinery and equipment | 23 | €2,531 | €1,064 | -€1,466 | -57.9% |
| Furniture and vehicles | 24 | €119,558 | €102,256 | -€17,303 | -14.5% |
| Current assets | 29/58 | €52,157 | €61,799 | +€9,642 | +18.5% |
| Amounts receivable within one year | 40/41 | €49,205 | €50,160 | +€955 | +1.9% |
| Trade receivables | 40 | €13,405 | €14,360 | +€955 | +7.1% |
| Other amounts receivable | 41 | €35,800 | €35,800 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,953 | €11,639 | +€8,687 | +294.2% |
| Total equity and liabilities | 10/49 | €174,246 | €165,119 | -€9,127 | -5.2% |
| Equity | 10/15 | €64,224 | €70,278 | +€6,054 | +9.4% |
| Reserves | 13 | €92,400 | €92,400 | = | 0.0% |
| Distributable reserves | 133 | €92,400 | €92,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,176 | -€22,122 | +€6,054 | +21.5% |
| Amounts payable | 17/49 | €110,023 | €94,841 | -€15,181 | -13.8% |
| Amounts payable after more than one year | 17 | €84,983 | €75,064 | -€9,919 | -11.7% |
| Financial debts | 170/4 | €84,983 | €75,064 | -€9,919 | -11.7% |
| Amounts payable within one year | 42/48 | €25,040 | €19,777 | -€5,263 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €19,212 | €9,919 | -€9,293 | -48.4% |
| Trade debts | 44 | €315 | €408 | +€93 | +29.6% |
| Suppliers | 440/4 | €315 | €408 | +€93 | +29.6% |
| Taxes, remuneration and social security | 45 | €2,600 | €5,725 | +€3,125 | +120.2% |
| Taxes | 450/3 | €2,600 | €5,725 | +€3,125 | +120.2% |
| Other amounts payable | 47/48 | €2,913 | €3,725 | +€812 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,397 | €18,769 | -€8,628 | -31.5% |
| Other operating charges | 640/8 | €973 | €597 | -€376 | -38.7% |
| Gross operating margin | 9900 | -€11,406 | €26,473 | +€37,879 | |
| Operating profit (loss) | 9901 | -€39,776 | €7,107 | +€46,884 | |
| Financial charges | 65/66B | €1,504 | €1,053 | -€451 | -30.0% |
| Recurring financial charges | 65 | €1,504 | €1,053 | -€451 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | -€41,281 | €6,054 | +€47,335 | |
| Profit (loss) for the period | 9904 | -€41,281 | €6,054 | +€47,335 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,281 | €6,054 | +€47,335 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.