SVDB: 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.
SVDB
Largest movements
- Tangible fixed assets +€118,926
up €118,926 (+13,749%), from €865 to €119,791
of which Furniture and vehicles: +€113,841
- Cash -€18,561
down €18,561 (-40.4%), from €45,985 to €27,424
mainly Investment in fixed assets (net) (-€124,372) and Tax, wage and social debts (-€4,826)
- Receivables within one year -€1,668
down €1,668 (-32.1%), from €5,190 to €3,522
of which Trade receivables: -€3,011
- Debts after one year +€56,894
new in 2025: €56,894
- Reserves +€33,564
up €33,564 (+84.6%), from €39,677 to €73,241
- Current portion of long-term debt +€13,106
new in 2025: €13,106
- Tax, wage and social debts -€4,826
down €4,826 (-53.2%), from €9,065 to €4,239
- Depreciation +€5,111
up €5,111 (+1,528%), from €335 to €5,445
- Gross operating margin -€3,098
down €3,098 (-6.1%), from €51,147 to €48,049
- Taxes -€1,971
down €1,971 (-18.5%), from €10,627 to €8,657
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 | €52,039 | €150,737 | +€98,697 | +190% |
| Fixed assets | 21/28 | €865 | €119,791 | +€118,926 | +13,749% |
| Tangible fixed assets | 22/27 | €865 | €119,791 | +€118,926 | +13,749% |
| Plant, machinery and equipment | 23 | €865 | €5,950 | +€5,085 | +588% |
| Furniture and vehicles | 24 | - | €113,841 | +€113,841 | |
| Current assets | 29/58 | €51,175 | €30,946 | -€20,229 | -39.5% |
| Amounts receivable within one year | 40/41 | €5,190 | €3,522 | -€1,668 | -32.1% |
| Trade receivables | 40 | €5,190 | €2,179 | -€3,011 | -58.0% |
| Other amounts receivable | 41 | - | €1,343 | +€1,343 | |
| Cash at bank and in hand | 54/58 | €45,985 | €27,424 | -€18,561 | -40.4% |
| Total equity and liabilities | 10/49 | €52,039 | €150,737 | +€98,697 | +190% |
| Equity | 10/15 | €42,177 | €75,741 | +€33,564 | +79.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €39,677 | €73,241 | +€33,564 | +84.6% |
| Distributable reserves | 133 | €39,677 | €73,241 | +€33,564 | +84.6% |
| Amounts payable | 17/49 | €9,863 | €74,996 | +€65,133 | +660% |
| Amounts payable after more than one year | 17 | - | €56,894 | +€56,894 | |
| Financial debts | 170/4 | - | €56,894 | +€56,894 | |
| Amounts payable within one year | 42/48 | €9,863 | €18,102 | +€8,239 | +83.5% |
| Current portion of amounts payable after more than one year | 42 | - | €13,106 | +€13,106 | |
| Trade debts | 44 | €798 | €757 | -€41 | -5.1% |
| Suppliers | 440/4 | €798 | €757 | -€41 | -5.1% |
| Taxes, remuneration and social security | 45 | €9,065 | €4,239 | -€4,826 | -53.2% |
| Taxes | 450/3 | €9,065 | €4,239 | -€4,826 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €335 | €5,445 | +€5,111 | +1,528% |
| Other operating charges | 640/8 | €477 | €202 | -€274 | -57.6% |
| Gross operating margin | 9900 | €51,147 | €48,049 | -€3,098 | -6.1% |
| Operating profit (loss) | 9901 | €50,335 | €42,401 | -€7,934 | -15.8% |
| Financial income | 75/76B | €145 | €0 | -€145 | -99.7% |
| Recurring financial income | 75 | €145 | €0 | -€145 | -99.7% |
| Financial charges | 65/66B | €176 | €180 | +€4 | +2.4% |
| Recurring financial charges | 65 | €176 | €180 | +€4 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €50,304 | €42,221 | -€8,083 | -16.1% |
| Income taxes | 67/77 | €10,627 | €8,657 | -€1,971 | -18.5% |
| Profit (loss) for the period | 9904 | €39,677 | €33,564 | -€6,113 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,677 | €33,564 | -€6,113 | -15.4% |
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 17 October 2026 via checked.be.