SV & CO: 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 & CO
Largest movements
- Receivables within one year -€20,818
down €20,818 (-64.3%), from €32,386 to €11,568
of which Other amounts receivable: -€21,271
- Tangible fixed assets +€10,352
up €10,352 (+31.6%), from €32,812 to €43,164
of which Furniture and vehicles: +€13,709
- Intangible fixed assets -€2,000
down €2,000 (-46.2%), from €4,333 to €2,333
- Cash -€1,678
down €1,678 (-1.9%), from €89,512 to €87,834
mainly Contributions, distributions and other (-€138,000) and Investment in fixed assets (net) (-€18,996)
- Other debts +€89,410
new in 2025: €89,410
- Profit (loss) carried forward -€75,204
down €75,204 (-95.3%), from €78,924 to €3,720
- Tax, wage and social debts -€13,772
down €13,772 (-85.2%), from €16,163 to €2,392
- Debts after one year -€11,483
down €11,483 (-53.7%), from €21,391 to €9,908
- Trade debts -€4,685
down €4,685 (-62.7%), from €7,466 to €2,782
- Gross operating margin -€3,540
down €3,540 (-3.7%), from €95,717 to €92,178
- Depreciation -€2,063
down €2,063 (-16.2%), from €12,707 to €10,643
- Other operating charges +€1,686
up €1,686 (+269%), from €627 to €2,313
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 | €162,714 | €147,409 | -€15,305 | -9.4% |
| Fixed assets | 21/28 | €37,145 | €45,498 | +€8,352 | +22.5% |
| Intangible fixed assets | 21 | €4,333 | €2,333 | -€2,000 | -46.2% |
| Tangible fixed assets | 22/27 | €32,812 | €43,164 | +€10,352 | +31.6% |
| Furniture and vehicles | 24 | €5,221 | €18,931 | +€13,709 | +263% |
| Other tangible fixed assets | 26 | €27,591 | €24,234 | -€3,357 | -12.2% |
| Current assets | 29/58 | €125,569 | €101,911 | -€23,658 | -18.8% |
| Amounts receivable within one year | 40/41 | €32,386 | €11,568 | -€20,818 | -64.3% |
| Trade receivables | 40 | €2,916 | €3,368 | +€452 | +15.5% |
| Other amounts receivable | 41 | €29,471 | €8,200 | -€21,271 | -72.2% |
| Cash at bank and in hand | 54/58 | €89,512 | €87,834 | -€1,678 | -1.9% |
| Deferred charges and accrued income | 490/1 | €3,670 | €2,509 | -€1,161 | -31.6% |
| Total equity and liabilities | 10/49 | €162,714 | €147,409 | -€15,305 | -9.4% |
| Equity | 10/15 | €106,639 | €31,435 | -€75,204 | -70.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €17,715 | €17,715 | = | 0.0% |
| Distributable reserves | 133 | €17,715 | €17,715 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,924 | €3,720 | -€75,204 | -95.3% |
| Amounts payable | 17/49 | €56,076 | €115,974 | +€59,898 | +107% |
| Amounts payable after more than one year | 17 | €21,391 | €9,908 | -€11,483 | -53.7% |
| Financial debts | 170/4 | €21,391 | €9,908 | -€11,483 | -53.7% |
| Amounts payable within one year | 42/48 | €34,685 | €106,066 | +€71,381 | +206% |
| Current portion of amounts payable after more than one year | 42 | €11,055 | €11,483 | +€428 | +3.9% |
| Trade debts | 44 | €7,466 | €2,782 | -€4,685 | -62.7% |
| Suppliers | 440/4 | €7,466 | €2,782 | -€4,685 | -62.7% |
| Taxes, remuneration and social security | 45 | €16,163 | €2,392 | -€13,772 | -85.2% |
| Taxes | 450/3 | €16,163 | €2,392 | -€13,772 | -85.2% |
| Other amounts payable | 47/48 | - | €89,410 | +€89,410 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,707 | €10,643 | -€2,063 | -16.2% |
| Other operating charges | 640/8 | €627 | €2,313 | +€1,686 | +269% |
| Gross operating margin | 9900 | €95,717 | €92,178 | -€3,540 | -3.7% |
| Operating profit (loss) | 9901 | €82,383 | €79,221 | -€3,162 | -3.8% |
| Financial income | 75/76B | €1,310 | €912 | -€397 | -30.3% |
| Recurring financial income | 75 | €1,310 | €912 | -€397 | -30.3% |
| Financial charges | 65/66B | €2,493 | €1,869 | -€624 | -25.0% |
| Recurring financial charges | 65 | €2,493 | €1,869 | -€624 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €81,200 | €78,265 | -€2,935 | -3.6% |
| Income taxes | 67/77 | €16,332 | €15,468 | -€863 | -5.3% |
| Profit (loss) for the period | 9904 | €64,868 | €62,796 | -€2,072 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €64,868 | €62,796 | -€2,072 | -3.2% |
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 22 October 2026 via checked.be.