SSV: 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.
SSV
Largest movements
- Cash +€90,285
up €90,285 (+50.1%), from €180,067 to €270,352
mainly Short-term financial debts (+€200,000) and Net result for the year (+€110,444)
- Tangible fixed assets -€53,974
down €53,974 (-7.9%), from €687,449 to €633,474
of which Land and buildings: -€34,283
- Receivables within one year +€44,077
up €44,077 (+72.4%), from €60,865 to €104,942
of which Other amounts receivable: +€28,377
- Receivables after one year -€16,103
down €16,103 (-50.0%), from €32,206 to €16,103
- Short-term financial debts +€200,000
new in 2026: €200,000
- Current portion of long-term debt -€171,540
down €171,540 (-66.5%), from €257,947 to €86,407
- Reserves +€86,444
up €86,444 (+36.8%), from €235,123 to €321,567
of which Distributable reserves: +€86,444
- Debts after one year -€66,407
down €66,407 (-16.8%), from €395,258 to €328,851
- Trade debts -€49,823
down €49,823 (-12.5%), from €399,307 to €349,484
- Gross operating margin +€35,480
up €35,480 (+13.1%), from €270,472 to €305,952
- Taxes +€8,709
up €8,709 (+22.3%), from €39,071 to €47,780
- Financial income -€3,241
down €3,241 (-50.9%), from €6,362 to €3,121
- Other operating charges +€3,160
up €3,160 (+57.0%), from €5,545 to €8,706
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 | €1,541,090 | €1,598,774 | +€57,684 | +3.7% |
| Fixed assets | 21/28 | €687,449 | €633,474 | -€53,974 | -7.9% |
| Tangible fixed assets | 22/27 | €687,449 | €633,474 | -€53,974 | -7.9% |
| Land and buildings | 22 | €650,502 | €616,219 | -€34,283 | -5.3% |
| Plant, machinery and equipment | 23 | €2,628 | €1,254 | -€1,373 | -52.3% |
| Furniture and vehicles | 24 | €34,319 | €16,001 | -€18,318 | -53.4% |
| Current assets | 29/58 | €853,642 | €965,300 | +€111,658 | +13.1% |
| Amounts receivable after more than one year | 29 | €32,206 | €16,103 | -€16,103 | -50.0% |
| Other amounts receivable | 291 | €32,206 | €16,103 | -€16,103 | -50.0% |
| Stocks and contracts in progress | 3 | €577,644 | €564,353 | -€13,291 | -2.3% |
| Stocks | 30/36 | €577,644 | €564,353 | -€13,291 | -2.3% |
| Amounts receivable within one year | 40/41 | €60,865 | €104,942 | +€44,077 | +72.4% |
| Trade receivables | 40 | €57,264 | €72,964 | +€15,701 | +27.4% |
| Other amounts receivable | 41 | €3,601 | €31,978 | +€28,377 | +787.9% |
| Cash at bank and in hand | 54/58 | €180,067 | €270,352 | +€90,285 | +50.1% |
| Deferred charges and accrued income | 490/1 | €2,860 | €9,550 | +€6,690 | +233.9% |
| Total equity and liabilities | 10/49 | €1,541,090 | €1,598,774 | +€57,684 | +3.7% |
| Equity | 10/15 | €335,123 | €421,567 | +€86,444 | +25.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €235,123 | €321,567 | +€86,444 | +36.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €225,123 | €311,567 | +€86,444 | +38.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,205,967 | €1,177,207 | -€28,760 | -2.4% |
| Amounts payable after more than one year | 17 | €395,258 | €328,851 | -€66,407 | -16.8% |
| Financial debts | 170/4 | €395,258 | €328,851 | -€66,407 | -16.8% |
| Amounts payable within one year | 42/48 | €810,709 | €799,902 | -€10,807 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €257,947 | €86,407 | -€171,540 | -66.5% |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €399,307 | €349,484 | -€49,823 | -12.5% |
| Suppliers | 440/4 | €399,307 | €349,484 | -€49,823 | -12.5% |
| Taxes, remuneration and social security | 45 | €151,958 | €159,422 | +€7,464 | +4.9% |
| Taxes | 450/3 | €151,958 | €159,422 | +€7,464 | +4.9% |
| Other amounts payable | 47/48 | €1,498 | €4,589 | +€3,091 | +206.4% |
| Accrued charges and deferred income | 492/3 | - | €48,454 | +€48,454 | |
| Remuneration, social security and pensions | 62 | €54,417 | €53,314 | -€1,104 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,397 | €63,277 | -€120 | -0.2% |
| Other operating charges | 640/8 | €5,545 | €8,706 | +€3,160 | +57.0% |
| Gross operating margin | 9900 | €270,472 | €305,952 | +€35,480 | +13.1% |
| Operating profit (loss) | 9901 | €147,113 | €180,656 | +€33,544 | +22.8% |
| Financial income | 75/76B | €6,362 | €3,121 | -€3,241 | -50.9% |
| Recurring financial income | 75 | €6,362 | €3,121 | -€3,241 | -50.9% |
| Financial charges | 65/66B | €23,218 | €25,553 | +€2,335 | +10.1% |
| Recurring financial charges | 65 | €23,218 | €25,553 | +€2,335 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €130,257 | €158,224 | +€27,967 | +21.5% |
| Income taxes | 67/77 | €39,071 | €47,780 | +€8,709 | +22.3% |
| Profit (loss) for the period | 9904 | €91,186 | €110,444 | +€19,258 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €91,186 | €110,444 | +€19,258 | +21.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.