SVDN: 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.
SVDN
Largest movements
- Receivables within one year +€15,532
up €15,532 (+9.4%), from €165,830 to €181,362
of which Other amounts receivable: +€30,279
- Tangible fixed assets -€4,132
down €4,132 (-18.2%), from €22,711 to €18,579
- Other debts +€116,432
new in 2025: €116,432
- Trade debts -€95,968
down €95,968 (-96.7%), from €99,262 to €3,294
- Debts after one year -€13,578
no longer reported in 2025 (was €13,578)
- Short-term financial debts +€4,528
up €4,528 (+278%), from €1,626 to €6,154
- Profit (loss) carried forward +€2,300
up €2,300 (+4.3%), from €52,907 to €55,207
- Gross operating margin -€2,856
down €2,856 (-25.9%), from €11,042 to €8,186
- Financial income +€1,107
up €1,107 (+1,054%), from €105 to €1,212
- Depreciation -€704
down €704 (-14.6%), from €4,836 to €4,132
- Taxes -€497
down €497 (-25.5%), from €1,949 to €1,452
- Financial charges -€240
down €240 (-33.2%), from €724 to €483
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 | €188,827 | €200,619 | +€11,792 | +6.2% |
| Fixed assets | 21/28 | €22,711 | €18,579 | -€4,132 | -18.2% |
| Tangible fixed assets | 22/27 | €22,711 | €18,579 | -€4,132 | -18.2% |
| Furniture and vehicles | 24 | €22,711 | €18,579 | -€4,132 | -18.2% |
| Current assets | 29/58 | €166,116 | €182,040 | +€15,924 | +9.6% |
| Amounts receivable within one year | 40/41 | €165,830 | €181,362 | +€15,532 | +9.4% |
| Trade receivables | 40 | €37,495 | €22,748 | -€14,747 | -39.3% |
| Other amounts receivable | 41 | €128,335 | €158,614 | +€30,279 | +23.6% |
| Cash at bank and in hand | 54/58 | €117 | €23 | -€94 | -80.2% |
| Deferred charges and accrued income | 490/1 | €168 | €655 | +€487 | +290% |
| Total equity and liabilities | 10/49 | €188,827 | €200,619 | +€11,792 | +6.2% |
| Equity | 10/15 | €60,967 | €63,267 | +€2,300 | +3.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Contributions outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,907 | €55,207 | +€2,300 | +4.3% |
| Amounts payable | 17/49 | €127,860 | €137,352 | +€9,492 | +7.4% |
| Amounts payable after more than one year | 17 | €13,578 | - | -€13,578 | |
| Financial debts | 170/4 | €13,578 | - | -€13,578 | |
| Amounts payable within one year | 42/48 | €114,282 | €137,352 | +€23,070 | +20.2% |
| Financial debts | 43 | €1,626 | €6,154 | +€4,528 | +278% |
| Credit institutions | 430/8 | €1,626 | €6,154 | +€4,528 | +278% |
| Trade debts | 44 | €99,262 | €3,294 | -€95,968 | -96.7% |
| Suppliers | 440/4 | €99,262 | €3,294 | -€95,968 | -96.7% |
| Taxes, remuneration and social security | 45 | €13,394 | €11,473 | -€1,921 | -14.3% |
| Taxes | 450/3 | €13,394 | €11,473 | -€1,921 | -14.3% |
| Other amounts payable | 47/48 | - | €116,432 | +€116,432 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,836 | €4,132 | -€704 | -14.6% |
| Other operating charges | 640/8 | €1,123 | €1,030 | -€94 | -8.4% |
| Gross operating margin | 9900 | €11,042 | €8,186 | -€2,856 | -25.9% |
| Operating profit (loss) | 9901 | €5,082 | €3,024 | -€2,058 | -40.5% |
| Financial income | 75/76B | €105 | €1,212 | +€1,107 | +1,054% |
| Recurring financial income | 75 | €105 | €1,212 | +€1,107 | +1,054% |
| Financial charges | 65/66B | €724 | €483 | -€240 | -33.2% |
| Recurring financial charges | 65 | €724 | €483 | -€240 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €4,463 | €3,752 | -€711 | -15.9% |
| Income taxes | 67/77 | €1,949 | €1,452 | -€497 | -25.5% |
| Profit (loss) for the period | 9904 | €2,514 | €2,300 | -€214 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,514 | €2,300 | -€214 | -8.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.