SV Projects: 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 Projects
Largest movements
- Tangible fixed assets -€31,227
down €31,227 (-14.5%), from €215,698 to €184,471
of which Plant, machinery and equipment: -€19,435
- Receivables within one year -€6,134
down €6,134 (-34.4%), from €17,823 to €11,688
of which Trade receivables: -€4,111
- Profit (loss) carried forward -€43,365
down €43,365 (-166%), from -€26,061 to -€69,427
- Other debts +€36,807
up €36,807 (+45.4%), from €81,133 to €117,939
- Debts after one year -€32,397
down €32,397 (-31.2%), from €103,794 to €71,397
- Gross operating margin -€19,559
down €19,559 (-42.3%), from €46,207 to €26,648
- Depreciation -€2,028
down €2,028 (-3.3%), from €62,338 to €60,310
- Other operating charges -€617
down €617 (-25.8%), from €2,388 to €1,771
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 | €237,426 | €199,843 | -€37,583 | -15.8% |
| Fixed assets | 21/28 | €218,548 | €187,321 | -€31,227 | -14.3% |
| Tangible fixed assets | 22/27 | €215,698 | €184,471 | -€31,227 | -14.5% |
| Plant, machinery and equipment | 23 | €84,097 | €64,662 | -€19,435 | -23.1% |
| Furniture and vehicles | 24 | €110,911 | €107,820 | -€3,091 | -2.8% |
| Leasing and similar rights | 25 | €20,690 | €11,990 | -€8,700 | -42.1% |
| Financial fixed assets | 28 | €2,850 | €2,850 | = | 0.0% |
| Current assets | 29/58 | €18,878 | €12,522 | -€6,356 | -33.7% |
| Amounts receivable within one year | 40/41 | €17,823 | €11,688 | -€6,134 | -34.4% |
| Trade receivables | 40 | €4,111 | - | -€4,111 | |
| Other amounts receivable | 41 | €13,711 | €11,688 | -€2,023 | -14.8% |
| Cash at bank and in hand | 54/58 | €938 | €833 | -€105 | -11.2% |
| Deferred charges and accrued income | 490/1 | €117 | - | -€117 | |
| Total equity and liabilities | 10/49 | €237,426 | €199,843 | -€37,583 | -15.8% |
| Equity | 10/15 | €10,096 | -€33,270 | -€43,365 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €33,657 | €33,657 | = | 0.0% |
| Distributable reserves | 133 | €33,657 | €33,657 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,061 | -€69,427 | -€43,365 | -166% |
| Amounts payable | 17/49 | €227,330 | €233,112 | +€5,782 | +2.5% |
| Amounts payable after more than one year | 17 | €103,794 | €71,397 | -€32,397 | -31.2% |
| Financial debts | 170/4 | €103,794 | €71,397 | -€32,397 | -31.2% |
| Amounts payable within one year | 42/48 | €123,536 | €161,715 | +€38,179 | +30.9% |
| Current portion of amounts payable after more than one year | 42 | €31,079 | €31,724 | +€645 | +2.1% |
| Trade debts | 44 | €9,528 | €10,248 | +€720 | +7.6% |
| Suppliers | 440/4 | €9,528 | €10,248 | +€720 | +7.6% |
| Taxes, remuneration and social security | 45 | €1,797 | €1,804 | +€8 | +0.4% |
| Remuneration and social security | 454/9 | €1,797 | €1,804 | +€8 | +0.4% |
| Other amounts payable | 47/48 | €81,133 | €117,939 | +€36,807 | +45.4% |
| Non-recurring operating income | 76A | - | €683 | +€683 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,338 | €60,310 | -€2,028 | -3.3% |
| Other operating charges | 640/8 | €2,388 | €1,771 | -€617 | -25.8% |
| Gross operating margin | 9900 | €46,207 | €26,648 | -€19,559 | -42.3% |
| Operating profit (loss) | 9901 | -€18,519 | -€35,434 | -€16,915 | -91.3% |
| Financial income | 75/76B | €239 | €52 | -€187 | -78.2% |
| Recurring financial income | 75 | €239 | €52 | -€187 | -78.2% |
| Financial charges | 65/66B | €7,781 | €7,979 | +€197 | +2.5% |
| Recurring financial charges | 65 | €7,781 | €7,979 | +€197 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,061 | -€43,360 | -€17,299 | -66.4% |
| Income taxes | 67/77 | - | €5 | +€5 | |
| Profit (loss) for the period | 9904 | -€26,061 | -€43,365 | -€17,304 | -66.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,061 | -€43,365 | -€17,304 | -66.4% |
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 14 October 2026 via checked.be.