SPV SERVICES: 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.
SPV SERVICES
Largest movements
- Receivables within one year +€31,586
up €31,586 (+109.6%), from €28,810 to €60,396
of which Trade receivables: +€31,512
- Cash +€8,090
up €8,090 (+228.1%), from €3,547 to €11,637
mainly Net result for the year (+€15,324) and Trade debts (+€15,042)
- Tangible fixed assets -€2,242
down €2,242 (-29.6%), from €7,572 to €5,330
of which Furniture and vehicles: -€1,944
- Deferred charges and accrued income -€1,838
no longer reported in 2025 (was €1,838)
- Profit (loss) carried forward +€15,324
up €15,324 (+166.1%), from €9,226 to €24,550
- Trade debts +€15,042
up €15,042 (+112.5%), from €13,366 to €28,408
of which Suppliers: +€15,464
- Tax, wage and social debts +€6,057
up €6,057 (+51.4%), from €11,775 to €17,832
of which Taxes: +€4,447
- Turnover +€169,414
up €169,414 (+39.1%), from €433,213 to €602,627
- Purchases and services +€143,482
up €143,482 (+35.2%), from €407,783 to €551,265
- Staff costs +€27,939
up €27,939 (+694.6%), from €4,022 to €31,961
- Gross operating margin +€25,415
up €25,415 (+88.1%), from €28,856 to €54,271
- Other operating charges -€6,983
down €6,983 (-97.2%), from €7,185 to €202
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 | €42,010 | €77,790 | +€35,781 | +85.2% |
| Fixed assets | 21/28 | €7,815 | €5,757 | -€2,058 | -26.3% |
| Tangible fixed assets | 22/27 | €7,572 | €5,330 | -€2,242 | -29.6% |
| Plant, machinery and equipment | 23 | €865 | €566 | -€299 | -34.5% |
| Furniture and vehicles | 24 | €6,708 | €4,764 | -€1,944 | -29.0% |
| Financial fixed assets | 28 | €243 | €427 | +€184 | +76.1% |
| Current assets | 29/58 | €34,195 | €72,033 | +€37,839 | +110.7% |
| Amounts receivable within one year | 40/41 | €28,810 | €60,396 | +€31,586 | +109.6% |
| Trade receivables | 40 | €26,383 | €57,895 | +€31,512 | +119.4% |
| Other amounts receivable | 41 | €2,427 | €2,501 | +€74 | +3.1% |
| Cash at bank and in hand | 54/58 | €3,547 | €11,637 | +€8,090 | +228.1% |
| Deferred charges and accrued income | 490/1 | €1,838 | - | -€1,838 | |
| Total equity and liabilities | 10/49 | €42,010 | €77,790 | +€35,781 | +85.2% |
| Equity | 10/15 | €16,226 | €31,550 | +€15,324 | +94.4% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Outside capital | 11 | €7,000 | €7,000 | = | 0.0% |
| Other | 1109/19 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,226 | €24,550 | +€15,324 | +166.1% |
| Amounts payable | 17/49 | €25,783 | €46,240 | +€20,457 | +79.3% |
| Amounts payable within one year | 42/48 | €25,783 | €46,240 | +€20,457 | +79.3% |
| Trade debts | 44 | €13,366 | €28,408 | +€15,042 | +112.5% |
| Suppliers | 440/4 | €12,945 | €28,408 | +€15,464 | +119.5% |
| Bills of exchange payable | 441 | €422 | - | -€422 | |
| Taxes, remuneration and social security | 45 | €11,775 | €17,832 | +€6,057 | +51.4% |
| Taxes | 450/3 | €3,175 | €7,623 | +€4,447 | +140.1% |
| Remuneration and social security | 454/9 | €8,600 | €10,209 | +€1,609 | +18.7% |
| Other amounts payable | 47/48 | €642 | - | -€642 | |
| Turnover | 70 | €433,213 | €602,627 | +€169,414 | +39.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €407,783 | €551,265 | +€143,482 | +35.2% |
| Remuneration, social security and pensions | 62 | €4,022 | €31,961 | +€27,939 | +694.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,107 | €2,242 | -€865 | -27.8% |
| Other operating charges | 640/8 | €7,185 | €202 | -€6,983 | -97.2% |
| Gross operating margin | 9900 | €28,856 | €54,271 | +€25,415 | +88.1% |
| Operating profit (loss) | 9901 | €14,542 | €19,866 | +€5,324 | +36.6% |
| Financial income | 75/76B | €0 | €2 | +€2 | +20600.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +20600.0% |
| Financial charges | 65/66B | €2,141 | €97 | -€2,044 | -95.5% |
| Recurring financial charges | 65 | €2,141 | €97 | -€2,044 | -95.5% |
| Profit (loss) for the period before taxes | 9903 | €12,402 | €19,771 | +€7,370 | +59.4% |
| Income taxes | 67/77 | €3,175 | €4,447 | +€1,272 | +40.1% |
| Profit (loss) for the period | 9904 | €9,226 | €15,324 | +€6,097 | +66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,226 | €15,324 | +€6,097 | +66.1% |
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 6 October 2026 via checked.be.