SKVV: 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.
SKVV
Largest movements
- Tangible fixed assets -€257,666
down €257,666 (-17.6%), from €1.5m to €1.2m
of which Plant, machinery and equipment: -€224,750
- Cash -€132,362
down €132,362 (-31.2%), from €423,753 to €291,391
mainly Debts after one year (-€211,216) and Trade debts (-€119,196)
- Receivables within one year +€73,542
up €73,542 (+18.6%), from €394,884 to €468,426
of which Trade receivables: +€118,634
- Debts after one year -€211,216
down €211,216 (-25.5%), from €827,070 to €615,855
- Trade debts -€119,196
down €119,196 (-29.3%), from €406,128 to €286,932
- Gross operating margin -€121,032
down €121,032 (-20.5%), from €589,460 to €468,428
- Taxes -€44,736
down €44,736 (-76.9%), from €58,140 to €13,403
- Depreciation +€42,287
up €42,287 (+16.7%), from €253,279 to €295,567
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.
Cash bridge derived
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 | €2,284,436 | €1,969,891 | -€314,544 | -13.8% |
| Fixed assets | 21/28 | €1,463,619 | €1,205,953 | -€257,666 | -17.6% |
| Tangible fixed assets | 22/27 | €1,463,052 | €1,205,386 | -€257,666 | -17.6% |
| Plant, machinery and equipment | 23 | €1,423,669 | €1,198,919 | -€224,750 | -15.8% |
| Furniture and vehicles | 24 | €32,100 | €0 | -€32,100 | -100.0% |
| Other tangible fixed assets | 26 | €7,283 | €6,467 | -€817 | -11.2% |
| Financial fixed assets | 28 | €567 | €567 | = | 0.0% |
| Current assets | 29/58 | €820,816 | €763,938 | -€56,878 | -6.9% |
| Amounts receivable within one year | 40/41 | €394,884 | €468,426 | +€73,542 | +18.6% |
| Trade receivables | 40 | €347,502 | €466,136 | +€118,634 | +34.1% |
| Other amounts receivable | 41 | €47,382 | €2,290 | -€45,092 | -95.2% |
| Cash at bank and in hand | 54/58 | €423,753 | €291,391 | -€132,362 | -31.2% |
| Deferred charges and accrued income | 490/1 | €2,179 | €4,121 | +€1,941 | +89.1% |
| Total equity and liabilities | 10/49 | €2,284,436 | €1,969,891 | -€314,544 | -13.8% |
| Equity | 10/15 | €733,159 | €731,441 | -€1,718 | -0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €726,959 | €725,241 | -€1,718 | -0.2% |
| Distributable reserves | 133 | €726,959 | €725,241 | -€1,718 | -0.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,551,276 | €1,238,450 | -€312,826 | -20.2% |
| Amounts payable after more than one year | 17 | €827,070 | €615,855 | -€211,216 | -25.5% |
| Financial debts | 170/4 | €827,070 | €615,855 | -€211,216 | -25.5% |
| Amounts payable within one year | 42/48 | €722,194 | €620,931 | -€101,262 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €259,802 | €247,109 | -€12,693 | -4.9% |
| Trade debts | 44 | €406,128 | €286,932 | -€119,196 | -29.3% |
| Suppliers | 440/4 | €406,128 | €286,932 | -€119,196 | -29.3% |
| Taxes, remuneration and social security | 45 | €41,545 | €54,604 | +€13,059 | +31.4% |
| Taxes | 450/3 | €34,399 | €45,098 | +€10,699 | +31.1% |
| Remuneration and social security | 454/9 | €7,146 | €9,506 | +€2,360 | +33.0% |
| Other amounts payable | 47/48 | €14,719 | €32,287 | +€17,568 | +119.4% |
| Accrued charges and deferred income | 492/3 | €2,012 | €1,664 | -€348 | -17.3% |
| Non-recurring operating income | 76A | €80,000 | €35,000 | -€45,000 | -56.3% |
| Remuneration, social security and pensions | 62 | €88,949 | €90,471 | +€1,522 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,279 | €295,567 | +€42,287 | +16.7% |
| Other operating charges | 640/8 | €7,915 | €8,413 | +€498 | +6.3% |
| Non-recurring operating charges | 66A | - | €7,100 | +€7,100 | |
| Gross operating margin | 9900 | €589,460 | €468,428 | -€121,032 | -20.5% |
| Operating profit (loss) | 9901 | €239,317 | €66,878 | -€172,439 | -72.1% |
| Financial income | 75/76B | €3,322 | €2,670 | -€652 | -19.6% |
| Recurring financial income | 75 | €3,322 | €2,670 | -€652 | -19.6% |
| Financial charges | 65/66B | €20,628 | €22,557 | +€1,929 | +9.3% |
| Recurring financial charges | 65 | €20,628 | €22,557 | +€1,929 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €222,011 | €46,991 | -€175,020 | -78.8% |
| Income taxes | 67/77 | €58,140 | €13,403 | -€44,736 | -76.9% |
| Profit (loss) for the period | 9904 | €163,871 | €33,588 | -€130,284 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €163,871 | €33,588 | -€130,284 | -79.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.