SVEAX: 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.
SVEAX
Largest movements
- Tangible fixed assets -€34,224
down €34,224 (-98.9%), from €34,594 to €369
- Cash +€24,954
up €24,954 (+144%), from €17,297 to €42,251
mainly Investment in fixed assets (net) (+€33,781) and Net result for the year (+€15,906)
- Receivables within one year -€7,283
down €7,283 (-83.0%), from €8,773 to €1,489
of which Trade receivables: -€7,321
- Debts after one year -€22,274
no longer reported in 2025 (was €22,274)
- Profit (loss) carried forward +€15,047
up €15,047 (+602%), from €2,499 to €17,545
- Current portion of long-term debt -€10,332
no longer reported in 2025 (was €10,332)
- Tax, wage and social debts +€3,109
up €3,109 (+25.7%), from €12,089 to €15,198
of which Taxes: +€3,109
- Other debts -€1,538
down €1,538 (-16.8%), from €9,165 to €7,627
- Depreciation -€14,121
down €14,121 (-97.0%), from €14,564 to €443
- Gross operating margin +€8,999
up €8,999 (+40.3%), from €22,341 to €31,340
- Other operating charges +€6,545
up €6,545 (+1,193%), from €549 to €7,093
- Taxes +€3,107
up €3,107 (+236%), from €1,315 to €4,423
- Financial charges +€894
up €894 (+34.6%), from €2,581 to €3,476
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 | €60,663 | €44,109 | -€16,554 | -27.3% |
| Fixed assets | 21/28 | €34,594 | €369 | -€34,224 | -98.9% |
| Tangible fixed assets | 22/27 | €34,594 | €369 | -€34,224 | -98.9% |
| Furniture and vehicles | 24 | €34,594 | €369 | -€34,224 | -98.9% |
| Current assets | 29/58 | €26,070 | €43,740 | +€17,670 | +67.8% |
| Amounts receivable within one year | 40/41 | €8,773 | €1,489 | -€7,283 | -83.0% |
| Trade receivables | 40 | €8,773 | €1,452 | -€7,321 | -83.4% |
| Other amounts receivable | 41 | - | €37 | +€37 | |
| Cash at bank and in hand | 54/58 | €17,297 | €42,251 | +€24,954 | +144% |
| Total equity and liabilities | 10/49 | €60,663 | €44,109 | -€16,554 | -27.3% |
| Equity | 10/15 | €4,899 | €19,945 | +€15,047 | +307% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,499 | €17,545 | +€15,047 | +602% |
| Amounts payable | 17/49 | €55,765 | €24,164 | -€31,600 | -56.7% |
| Amounts payable after more than one year | 17 | €22,274 | - | -€22,274 | |
| Financial debts | 170/4 | €22,274 | - | -€22,274 | |
| Amounts payable within one year | 42/48 | €32,574 | €23,196 | -€9,378 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €10,332 | - | -€10,332 | |
| Trade debts | 44 | €988 | €371 | -€617 | -62.5% |
| Suppliers | 440/4 | €988 | €371 | -€617 | -62.5% |
| Taxes, remuneration and social security | 45 | €12,089 | €15,198 | +€3,109 | +25.7% |
| Taxes | 450/3 | €9,589 | €12,698 | +€3,109 | +32.4% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €9,165 | €7,627 | -€1,538 | -16.8% |
| Accrued charges and deferred income | 492/3 | €917 | €969 | +€52 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,564 | €443 | -€14,121 | -97.0% |
| Other operating charges | 640/8 | €549 | €7,093 | +€6,545 | +1,193% |
| Gross operating margin | 9900 | €22,341 | €31,340 | +€8,999 | +40.3% |
| Operating profit (loss) | 9901 | €7,228 | €23,804 | +€16,576 | +229% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,581 | €3,476 | +€894 | +34.6% |
| Recurring financial charges | 65 | €2,581 | €3,476 | +€894 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €4,647 | €20,328 | +€15,681 | +337% |
| Income taxes | 67/77 | €1,315 | €4,423 | +€3,107 | +236% |
| Profit (loss) for the period | 9904 | €3,332 | €15,906 | +€12,574 | +377% |
| Profit (loss) for the period to be appropriated | 9905 | €3,332 | €15,906 | +€12,574 | +377% |
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 23 October 2026 via checked.be.