SVDS: 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.
SVDS
Largest movements
- Tangible fixed assets -€120,008
down €120,008 (-37.7%), from €318,723 to €198,715
of which Furniture and vehicles: -€85,222
- Receivables within one year -€75,028
down €75,028 (-49.6%), from €151,314 to €76,287
of which Trade receivables: -€49,222
- Deferred charges and accrued income -€12,322
down €12,322 (-14.4%), from €85,476 to €73,153
- Reserves -€84,500
down €84,500 (-45.9%), from €184,250 to €99,750
- Other debts +€81,756
up €81,756 (+14,353%), from €570 to €82,325
- Short-term financial debts -€74,000
no longer reported in 2025 (was €74,000)
- Trade debts -€52,965
down €52,965 (-62.2%), from €85,196 to €32,230
- Profit (loss) carried forward -€44,588
down €44,588, from €235 to -€44,353
- Gross operating margin -€48,008
down €48,008 (-55.5%), from €86,513 to €38,505
- Depreciation +€11,971
up €11,971 (+26.1%), from €45,879 to €57,850
- Financial charges +€2,617
up €2,617 (+30.2%), from €8,679 to €11,295
- Financial income -€1,468
down €1,468 (-65.7%), from €2,234 to €765
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 | €684,421 | €482,703 | -€201,718 | -29.5% |
| Fixed assets | 21/28 | €325,552 | €203,445 | -€122,108 | -37.5% |
| Intangible fixed assets | 21 | €6,829 | €4,729 | -€2,100 | -30.7% |
| Tangible fixed assets | 22/27 | €318,723 | €198,715 | -€120,008 | -37.7% |
| Plant, machinery and equipment | 23 | €46,508 | €22,995 | -€23,513 | -50.6% |
| Furniture and vehicles | 24 | €181,537 | €96,315 | -€85,222 | -46.9% |
| Other tangible fixed assets | 26 | €90,677 | €79,405 | -€11,272 | -12.4% |
| Current assets | 29/58 | €358,869 | €279,258 | -€79,611 | -22.2% |
| Stocks and contracts in progress | 3 | €31,979 | €36,650 | +€4,671 | +14.6% |
| Stocks | 30/36 | €31,979 | €36,650 | +€4,671 | +14.6% |
| Amounts receivable within one year | 40/41 | €151,314 | €76,287 | -€75,028 | -49.6% |
| Trade receivables | 40 | €125,508 | €76,287 | -€49,222 | -39.2% |
| Other amounts receivable | 41 | €25,806 | - | -€25,806 | |
| Cash at bank and in hand | 54/58 | €90,099 | €93,168 | +€3,069 | +3.4% |
| Deferred charges and accrued income | 490/1 | €85,476 | €73,153 | -€12,322 | -14.4% |
| Total equity and liabilities | 10/49 | €684,421 | €482,703 | -€201,718 | -29.5% |
| Equity | 10/15 | €250,025 | €120,937 | -€129,088 | -51.6% |
| Contributions | 10/11 | €65,540 | €65,540 | = | 0.0% |
| Reserves | 13 | €184,250 | €99,750 | -€84,500 | -45.9% |
| Distributable reserves | 133 | €184,250 | €99,750 | -€84,500 | -45.9% |
| Profit (loss) carried forward | 14 | €235 | -€44,353 | -€44,588 | |
| Amounts payable | 17/49 | €434,396 | €361,766 | -€72,630 | -16.7% |
| Amounts payable after more than one year | 17 | €242,172 | €228,845 | -€13,327 | -5.5% |
| Financial debts | 170/4 | €242,172 | €228,845 | -€13,327 | -5.5% |
| Amounts payable within one year | 42/48 | €191,081 | €131,161 | -€59,921 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €31,316 | €13,327 | -€17,989 | -57.4% |
| Financial debts | 43 | €74,000 | - | -€74,000 | |
| Credit institutions | 430/8 | €74,000 | - | -€74,000 | |
| Trade debts | 44 | €85,196 | €32,230 | -€52,965 | -62.2% |
| Suppliers | 440/4 | €85,196 | €32,230 | -€52,965 | -62.2% |
| Taxes, remuneration and social security | 45 | - | €3,278 | +€3,278 | |
| Taxes | 450/3 | - | €3,278 | +€3,278 | |
| Other amounts payable | 47/48 | €570 | €82,325 | +€81,756 | +14,353% |
| Accrued charges and deferred income | 492/3 | €1,143 | €1,760 | +€618 | +54.1% |
| Non-recurring operating income | 76A | €4,500 | €14,658 | +€10,158 | +226% |
| Remuneration, social security and pensions | 62 | €421 | €538 | +€117 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,879 | €57,850 | +€11,971 | +26.1% |
| Other operating charges | 640/8 | €5,263 | €5,432 | +€169 | +3.2% |
| Non-recurring operating charges | 66A | - | €8,660 | +€8,660 | |
| Gross operating margin | 9900 | €86,513 | €38,505 | -€48,008 | -55.5% |
| Operating profit (loss) | 9901 | €34,949 | -€33,976 | -€68,925 | |
| Financial income | 75/76B | €2,234 | €765 | -€1,468 | -65.7% |
| Recurring financial income | 75 | €2,234 | €765 | -€1,468 | -65.7% |
| Financial charges | 65/66B | €8,679 | €11,295 | +€2,617 | +30.2% |
| Recurring financial charges | 65 | €8,679 | €11,295 | +€2,617 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €28,504 | -€44,506 | -€73,010 | |
| Income taxes | 67/77 | - | €82 | +€82 | |
| Profit (loss) for the period | 9904 | €28,504 | -€44,588 | -€73,092 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,504 | -€44,588 | -€73,092 |
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 27 October 2026 via checked.be.