SV ALTERNATIVE: 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.
SV ALTERNATIVE
Largest movements
- Financial fixed assets -€82,584
down €82,584 (-97.6%), from €84,584 to €2,000
- Cash -€80,872
down €80,872 (-24.2%), from €333,726 to €252,854
mainly Contributions, distributions and other (-€290,909) and Net result for the year (-€99,735)
- Receivables within one year -€17,712
down €17,712 (-85.4%), from €20,742 to €3,029
of which Other amounts receivable: -€14,532
- Reserves -€290,909
down €290,909 (-49.3%), from €589,769 to €298,860
of which Distributable reserves: -€290,909
- Other debts +€216,501
up €216,501 (+583%), from €37,154 to €253,654
- Profit (loss) carried forward -€99,735
down €99,735, from €40,931 to -€58,804
- Trade debts -€11,362
down €11,362 (-95.6%), from €11,888 to €526
- Gross operating margin -€98,383
down €98,383, from €35,968 to -€62,416
- Financial charges +€17,286
up €17,286 (+2,636%), from €656 to €17,941
of which Non-recurring financial charges: +€17,624
- Depreciation -€6,906
down €6,906 (-27.6%), from €25,031 to €18,126
- Financial income -€3,000
down €3,000 (-96.8%), from €3,100 to €100
- Taxes -€1,033
down €1,033 (-78.9%), from €1,308 to €276
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.
Derived cash bridge
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 | €689,805 | €502,055 | -€187,751 | -27.2% |
| Fixed assets | 21/28 | €134,466 | €45,154 | -€89,312 | -66.4% |
| Tangible fixed assets | 22/27 | €49,882 | €43,154 | -€6,728 | -13.5% |
| Land and buildings | 22 | €16,023 | €13,897 | -€2,126 | -13.3% |
| Plant, machinery and equipment | 23 | €14,542 | €22,401 | +€7,858 | +54.0% |
| Furniture and vehicles | 24 | €14,917 | €6,856 | -€8,060 | -54.0% |
| Assets under construction and advance payments | 27 | €4,400 | - | -€4,400 | |
| Financial fixed assets | 28 | €84,584 | €2,000 | -€82,584 | -97.6% |
| Current assets | 29/58 | €555,339 | €456,901 | -€98,439 | -17.7% |
| Amounts receivable within one year | 40/41 | €20,742 | €3,029 | -€17,712 | -85.4% |
| Trade receivables | 40 | €3,784 | €604 | -€3,180 | -84.0% |
| Other amounts receivable | 41 | €16,957 | €2,425 | -€14,532 | -85.7% |
| Current investments | 50/53 | €200,138 | €200,138 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €333,726 | €252,854 | -€80,872 | -24.2% |
| Deferred charges and accrued income | 490/1 | €734 | €879 | +€145 | +19.8% |
| Total equity and liabilities | 10/49 | €689,805 | €502,055 | -€187,751 | -27.2% |
| Equity | 10/15 | €636,900 | €246,256 | -€390,644 | -61.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €589,769 | €298,860 | -€290,909 | -49.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €587,909 | €297,000 | -€290,909 | -49.5% |
| Profit (loss) carried forward | 14 | €40,931 | -€58,804 | -€99,735 | |
| Amounts payable | 17/49 | €52,905 | €255,799 | +€202,894 | +384% |
| Amounts payable within one year | 42/48 | €52,905 | €255,799 | +€202,894 | +384% |
| Trade debts | 44 | €11,888 | €526 | -€11,362 | -95.6% |
| Suppliers | 440/4 | €11,888 | €526 | -€11,362 | -95.6% |
| Taxes, remuneration and social security | 45 | €3,864 | €1,619 | -€2,245 | -58.1% |
| Taxes | 450/3 | €3,864 | €1,619 | -€2,245 | -58.1% |
| Other amounts payable | 47/48 | €37,154 | €253,654 | +€216,501 | +583% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,031 | €18,126 | -€6,906 | -27.6% |
| Other operating charges | 640/8 | €1,145 | €1,077 | -€69 | -6.0% |
| Gross operating margin | 9900 | €35,968 | -€62,416 | -€98,383 | |
| Operating profit (loss) | 9901 | €9,791 | -€81,618 | -€91,409 | |
| Financial income | 75/76B | €3,100 | €100 | -€3,000 | -96.8% |
| Recurring financial income | 75 | €3,100 | €100 | -€3,000 | -96.8% |
| Financial charges | 65/66B | €656 | €17,941 | +€17,286 | +2,636% |
| Recurring financial charges | 65 | €656 | €317 | -€338 | -51.6% |
| Non-recurring financial charges | 66B | - | €17,624 | +€17,624 | |
| Profit (loss) for the period before taxes | 9903 | €12,235 | -€99,460 | -€111,695 | |
| Income taxes | 67/77 | €1,308 | €276 | -€1,033 | -78.9% |
| Profit (loss) for the period | 9904 | €10,927 | -€99,735 | -€110,662 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,927 | -€99,735 | -€110,662 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.