SV CONSTRUCT: 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.
SV CONSTRUCT
Largest movements
- Stocks and contracts +€274,810
up €274,810 (+1532.2%), from €17,935 to €292,745
- Cash -€39,666
down €39,666 (-33.3%), from €119,236 to €79,569
mainly Stocks and contracts (-€274,810) and Contributions, distributions and other (-€80,000)
- Tangible fixed assets -€19,731
down €19,731 (-9.2%), from €213,393 to €193,662
- Deferred charges and accrued income -€10,948
down €10,948 (-34.0%), from €32,156 to €21,208
- Reserves +€130,851
up €130,851 (+107.4%), from €121,807 to €252,658
- Short-term financial debts +€103,000
new in 2025: €103,000
- Profit (loss) carried forward -€80,000
down €80,000 (-44.5%), from €179,628 to €99,628
- Other debts +€79,930
up €79,930 (+2587.5%), from €3,089 to €83,019
- Accrued charges and deferred income -€43,008
down €43,008 (-91.3%), from €47,116 to €4,108
- Gross operating margin -€30,651
down €30,651 (-7.8%), from €391,443 to €360,792
- Staff costs +€11,524
up €11,524 (+9.6%), from €120,383 to €131,907
- Financial charges +€6,763
up €6,763 (+84.8%), from €7,973 to €14,736
- Other operating charges -€5,026
down €5,026 (-51.7%), from €9,712 to €4,686
- Depreciation +€3,984
up €3,984 (+19.9%), from €19,986 to €23,971
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 | €540,731 | €747,284 | +€206,554 | +38.2% |
| Fixed assets | 21/28 | €213,393 | €193,856 | -€19,537 | -9.2% |
| Tangible fixed assets | 22/27 | €213,393 | €193,662 | -€19,731 | -9.2% |
| Land and buildings | 22 | €170,116 | €161,687 | -€8,429 | -5.0% |
| Plant, machinery and equipment | 23 | €24,823 | €17,920 | -€6,903 | -27.8% |
| Furniture and vehicles | 24 | €18,454 | €14,055 | -€4,399 | -23.8% |
| Financial fixed assets | 28 | - | €194 | +€194 | |
| Current assets | 29/58 | €327,338 | €553,429 | +€226,091 | +69.1% |
| Stocks and contracts in progress | 3 | €17,935 | €292,745 | +€274,810 | +1532.2% |
| Stocks | 30/36 | €17,935 | €292,745 | +€274,810 | +1532.2% |
| Amounts receivable within one year | 40/41 | €158,011 | €159,906 | +€1,895 | +1.2% |
| Trade receivables | 40 | €130,183 | €128,912 | -€1,272 | -1.0% |
| Other amounts receivable | 41 | €27,827 | €30,994 | +€3,167 | +11.4% |
| Cash at bank and in hand | 54/58 | €119,236 | €79,569 | -€39,666 | -33.3% |
| Deferred charges and accrued income | 490/1 | €32,156 | €21,208 | -€10,948 | -34.0% |
| Total equity and liabilities | 10/49 | €540,731 | €747,284 | +€206,554 | +38.2% |
| Equity | 10/15 | €303,435 | €354,286 | +€50,851 | +16.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €121,807 | €252,658 | +€130,851 | +107.4% |
| Distributable reserves | 133 | €121,807 | €252,658 | +€130,851 | +107.4% |
| Profit (loss) carried forward | 14 | €179,628 | €99,628 | -€80,000 | -44.5% |
| Amounts payable | 17/49 | €237,296 | €392,999 | +€155,703 | +65.6% |
| Amounts payable after more than one year | 17 | €83,425 | €66,832 | -€16,593 | -19.9% |
| Financial debts | 170/4 | €83,425 | €66,832 | -€16,593 | -19.9% |
| Amounts payable within one year | 42/48 | €106,755 | €322,059 | +€215,304 | +201.7% |
| Current portion of amounts payable after more than one year | 42 | €16,258 | €33,447 | +€17,188 | +105.7% |
| Financial debts | 43 | - | €103,000 | +€103,000 | |
| Credit institutions | 430/8 | - | €103,000 | +€103,000 | |
| Trade debts | 44 | €42,663 | €52,007 | +€9,343 | +21.9% |
| Suppliers | 440/4 | €42,663 | €52,007 | +€9,343 | +21.9% |
| Advances received on contracts in progress | 46 | - | €1,414 | +€1,414 | |
| Taxes, remuneration and social security | 45 | €44,744 | €49,172 | +€4,428 | +9.9% |
| Taxes | 450/3 | €33,378 | €34,895 | +€1,517 | +4.5% |
| Remuneration and social security | 454/9 | €11,366 | €14,277 | +€2,911 | +25.6% |
| Other amounts payable | 47/48 | €3,089 | €83,019 | +€79,930 | +2587.5% |
| Accrued charges and deferred income | 492/3 | €47,116 | €4,108 | -€43,008 | -91.3% |
| Remuneration, social security and pensions | 62 | €120,383 | €131,907 | +€11,524 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,986 | €23,971 | +€3,984 | +19.9% |
| Other operating charges | 640/8 | €9,712 | €4,686 | -€5,026 | -51.7% |
| Gross operating margin | 9900 | €391,443 | €360,792 | -€30,651 | -7.8% |
| Operating profit (loss) | 9901 | €241,362 | €200,228 | -€41,134 | -17.0% |
| Financial income | 75/76B | €4,267 | €5,306 | +€1,040 | +24.4% |
| Recurring financial income | 75 | €4,267 | €5,306 | +€1,040 | +24.4% |
| Financial charges | 65/66B | €7,973 | €14,736 | +€6,763 | +84.8% |
| Recurring financial charges | 65 | €7,973 | €14,736 | +€6,763 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | €237,656 | €190,798 | -€46,858 | -19.7% |
| Income taxes | 67/77 | €57,169 | €59,948 | +€2,779 | +4.9% |
| Profit (loss) for the period | 9904 | €180,487 | €130,851 | -€49,637 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €180,487 | €130,851 | -€49,637 | -27.5% |
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 2 October 2026 via checked.be.