SVE: 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.
SVE
Largest movements
- Cash +€286,653
up €286,653 (+768.5%), from €37,299 to €323,952
mainly Net result for the year (+€222,151) and Short-term financial debts (+€139,176)
- Stocks and contracts +€111,635
up €111,635 (+18.6%), from €598,869 to €710,504
- Receivables within one year -€19,762
down €19,762 (-99.8%), from €19,802 to €40
of which Trade receivables: -€19,802
- Profit (loss) carried forward +€222,151
up €222,151 (+100.8%), from €220,338 to €442,488
- Short-term financial debts +€139,176
new in 2025: €139,176
- Tax, wage and social debts +€84,963
up €84,963 (+189.4%), from €44,853 to €129,817
of which Taxes: +€84,943
- Other debts -€51,369
down €51,369 (-58.7%), from €87,580 to €36,212
- Debts after one year -€44,453
down €44,453 (-14.1%), from €316,085 to €271,632
- Financial income +€266,772
new in 2025: €266,772
- Turnover +€135,924
new in 2025: €135,924
- Gross operating margin -€87,283
down €87,283 (-54.0%), from €161,746 to €74,464
- Purchases and services +€72,821
new in 2025: €72,821
- Taxes +€41,265
up €41,265 (+102.8%), from €40,160 to €81,425
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.
Cash bridge derived
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 | €677,212 | €1,054,344 | +€377,132 | +55.7% |
| Fixed assets | 21/28 | €17,042 | €15,647 | -€1,395 | -8.2% |
| Tangible fixed assets | 22/27 | €17,042 | €15,647 | -€1,395 | -8.2% |
| Plant, machinery and equipment | 23 | €4,086 | €3,419 | -€667 | -16.3% |
| Furniture and vehicles | 24 | €12,957 | €12,229 | -€728 | -5.6% |
| Current assets | 29/58 | €660,170 | €1,038,696 | +€378,527 | +57.3% |
| Stocks and contracts in progress | 3 | €598,869 | €710,504 | +€111,635 | +18.6% |
| Stocks | 30/36 | €598,869 | €710,504 | +€111,635 | +18.6% |
| Amounts receivable within one year | 40/41 | €19,802 | €40 | -€19,762 | -99.8% |
| Trade receivables | 40 | €19,802 | - | -€19,802 | |
| Other amounts receivable | 41 | - | €40 | +€40 | |
| Cash at bank and in hand | 54/58 | €37,299 | €323,952 | +€286,653 | +768.5% |
| Deferred charges and accrued income | 490/1 | €4,200 | €4,200 | = | 0.0% |
| Total equity and liabilities | 10/49 | €677,212 | €1,054,344 | +€377,132 | +55.7% |
| Equity | 10/15 | €227,038 | €449,188 | +€222,151 | +97.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,338 | €442,488 | +€222,151 | +100.8% |
| Amounts payable | 17/49 | €450,174 | €605,155 | +€154,981 | +34.4% |
| Amounts payable after more than one year | 17 | €316,085 | €271,632 | -€44,453 | -14.1% |
| Financial debts | 170/4 | €316,085 | €271,632 | -€44,453 | -14.1% |
| Amounts payable within one year | 42/48 | €134,089 | €333,523 | +€199,434 | +148.7% |
| Financial debts | 43 | - | €139,176 | +€139,176 | |
| Credit institutions | 430/8 | - | €139,176 | +€139,176 | |
| Trade debts | 44 | €1,655 | €28,319 | +€26,664 | +1610.8% |
| Suppliers | 440/4 | €1,655 | €28,319 | +€26,664 | +1610.8% |
| Taxes, remuneration and social security | 45 | €44,853 | €129,817 | +€84,963 | +189.4% |
| Taxes | 450/3 | €42,641 | €127,584 | +€84,943 | +199.2% |
| Remuneration and social security | 454/9 | €2,212 | €2,232 | +€20 | +0.9% |
| Other amounts payable | 47/48 | €87,580 | €36,212 | -€51,369 | -58.7% |
| Turnover | 70 | - | €135,924 | +€135,924 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €72,821 | +€72,821 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,251 | €2,799 | +€548 | +24.4% |
| Other operating charges | 640/8 | €3,615 | €26,232 | +€22,616 | +625.6% |
| Gross operating margin | 9900 | €161,746 | €74,464 | -€87,283 | -54.0% |
| Operating profit (loss) | 9901 | €155,880 | €45,433 | -€110,447 | -70.9% |
| Financial income | 75/76B | - | €266,772 | +€266,772 | |
| Recurring financial income | 75 | - | €266,772 | +€266,772 | |
| Financial charges | 65/66B | €7,933 | €8,629 | +€696 | +8.8% |
| Recurring financial charges | 65 | €7,933 | €8,629 | +€696 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €147,947 | €303,576 | +€155,628 | +105.2% |
| Income taxes | 67/77 | €40,160 | €81,425 | +€41,265 | +102.8% |
| Profit (loss) for the period | 9904 | €107,788 | €222,151 | +€114,363 | +106.1% |
| Profit (loss) for the period to be appropriated | 9905 | €107,788 | €222,151 | +€114,363 | +106.1% |
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 9 October 2026 via checked.be.