SVAHO: 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.
SVAHO
Largest movements
- Cash -€13,554
down €13,554 (-16.1%), from €84,189 to €70,635
mainly Tax, wage and social debts (-€27,888) and Investment in fixed assets (net) (-€12,841)
- Tangible fixed assets +€9,992
up €9,992 (+114%), from €8,784 to €18,777
of which Land and buildings: +€8,465
- Receivables within one year +€2,259
up €2,259 (+20.7%), from €10,890 to €13,149
of which Other amounts receivable: +€13,149
- Tax, wage and social debts -€27,888
no longer reported in 2025 (was €27,888)
- Trade debts +€18,181
up €18,181 (+499%), from €3,640 to €21,822
- Reserves +€8,098
up €8,098 (+13.0%), from €62,431 to €70,529
- Gross operating margin -€71,268
down €71,268 (-83.6%), from €85,214 to €13,947
- Taxes -€18,819
down €18,819 (-88.2%), from €21,344 to €2,526
- Depreciation +€1,409
up €1,409 (+97.9%), from €1,439 to €2,849
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 | €103,863 | €102,561 | -€1,303 | -1.3% |
| Fixed assets | 21/28 | €8,784 | €18,777 | +€9,992 | +114% |
| Tangible fixed assets | 22/27 | €8,784 | €18,777 | +€9,992 | +114% |
| Land and buildings | 22 | - | €8,465 | +€8,465 | |
| Plant, machinery and equipment | 23 | €5,659 | €7,501 | +€1,842 | +32.5% |
| Other tangible fixed assets | 26 | €3,125 | €2,810 | -€315 | -10.1% |
| Current assets | 29/58 | €95,079 | €83,784 | -€11,295 | -11.9% |
| Amounts receivable within one year | 40/41 | €10,890 | €13,149 | +€2,259 | +20.7% |
| Trade receivables | 40 | €10,890 | - | -€10,890 | |
| Other amounts receivable | 41 | - | €13,149 | +€13,149 | |
| Cash at bank and in hand | 54/58 | €84,189 | €70,635 | -€13,554 | -16.1% |
| Total equity and liabilities | 10/49 | €103,863 | €102,561 | -€1,303 | -1.3% |
| Equity | 10/15 | €64,431 | €72,529 | +€8,098 | +12.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €62,431 | €70,529 | +€8,098 | +13.0% |
| Distributable reserves | 133 | €62,431 | €70,529 | +€8,098 | +13.0% |
| Amounts payable | 17/49 | €39,432 | €30,031 | -€9,401 | -23.8% |
| Amounts payable within one year | 42/48 | €39,432 | €30,031 | -€9,401 | -23.8% |
| Trade debts | 44 | €3,640 | €21,822 | +€18,181 | +499% |
| Suppliers | 440/4 | €3,640 | €21,822 | +€18,181 | +499% |
| Taxes, remuneration and social security | 45 | €27,888 | - | -€27,888 | |
| Taxes | 450/3 | €27,888 | - | -€27,888 | |
| Other amounts payable | 47/48 | €7,904 | €8,210 | +€305 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,439 | €2,849 | +€1,409 | +97.9% |
| Gross operating margin | 9900 | €85,214 | €13,947 | -€71,268 | -83.6% |
| Operating profit (loss) | 9901 | €83,775 | €11,098 | -€72,677 | -86.8% |
| Financial charges | 65/66B | - | €474 | +€474 | |
| Recurring financial charges | 65 | - | €474 | +€474 | |
| Profit (loss) for the period before taxes | 9903 | €83,775 | €10,624 | -€73,151 | -87.3% |
| Income taxes | 67/77 | €21,344 | €2,526 | -€18,819 | -88.2% |
| Profit (loss) for the period | 9904 | €62,431 | €8,098 | -€54,333 | -87.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,431 | €8,098 | -€54,333 | -87.0% |
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 30 October 2026 via checked.be.