SVEBA: what changed
Two fiscal 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.
SVEBA
Largest movements
- Receivables within one year -€131,088
down €131,088 (-49.9%), from €262,522 to €131,434
of which Trade receivables: -€118,676
- Cash +€38,861
up €38,861 (+50.4%), from €77,046 to €115,908
mainly Receivables within one year (+€131,088) and Depreciation (+€27,031)
- Tangible fixed assets -€25,431
down €25,431 (-35.2%), from €72,222 to €46,791
of which Plant, machinery and equipment: -€17,231
- Tax, wage and social debts -€55,063
down €55,063 (-48.1%), from €114,467 to €59,404
of which Remuneration and social security: -€38,919
- Trade debts -€23,928
down €23,928 (-44.5%), from €53,771 to €29,844
- Other debts -€20,459
down €20,459 (-34.4%), from €59,498 to €39,039
- Profit (loss) carried forward -€14,714
down €14,714 (-9.8%), from €149,793 to €135,080
- Gross operating margin -€34,382
down €34,382 (-22.5%), from €153,043 to €118,661
- Taxes -€4,020
down €4,020 (-95.5%), from €4,211 to €191
- Other operating charges -€3,798
down €3,798 (-71.8%), from €5,291 to €1,493
- Staff costs -€1,854
down €1,854 (-1.7%), from €106,037 to €104,183
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 | €411,790 | €294,132 | -€117,658 | -28.6% |
| Fixed assets | 21/28 | €72,222 | €46,791 | -€25,431 | -35.2% |
| Tangible fixed assets | 22/27 | €72,222 | €46,791 | -€25,431 | -35.2% |
| Plant, machinery and equipment | 23 | €64,022 | €46,791 | -€17,231 | -26.9% |
| Furniture and vehicles | 24 | €8,200 | - | -€8,200 | |
| Current assets | 29/58 | €339,568 | €247,341 | -€92,227 | -27.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €262,522 | €131,434 | -€131,088 | -49.9% |
| Trade receivables | 40 | €250,109 | €131,434 | -€118,676 | -47.4% |
| Other amounts receivable | 41 | €12,412 | - | -€12,412 | |
| Cash at bank and in hand | 54/58 | €77,046 | €115,908 | +€38,861 | +50.4% |
| Total equity and liabilities | 10/49 | €411,790 | €294,132 | -€117,658 | -28.6% |
| Equity | 10/15 | €180,559 | €165,845 | -€14,714 | -8.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €22,705 | €22,705 | = | 0.0% |
| Distributable reserves | 133 | €22,705 | €22,705 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,793 | €135,080 | -€14,714 | -9.8% |
| Amounts payable | 17/49 | €231,231 | €128,287 | -€102,944 | -44.5% |
| Amounts payable within one year | 42/48 | €231,231 | €128,287 | -€102,944 | -44.5% |
| Current portion of amounts payable after more than one year | 42 | €3,495 | - | -€3,495 | |
| Trade debts | 44 | €53,771 | €29,844 | -€23,928 | -44.5% |
| Suppliers | 440/4 | €53,771 | €29,844 | -€23,928 | -44.5% |
| Taxes, remuneration and social security | 45 | €114,467 | €59,404 | -€55,063 | -48.1% |
| Taxes | 450/3 | €20,587 | €4,444 | -€16,144 | -78.4% |
| Remuneration and social security | 454/9 | €93,880 | €54,961 | -€38,919 | -41.5% |
| Other amounts payable | 47/48 | €59,498 | €39,039 | -€20,459 | -34.4% |
| Remuneration, social security and pensions | 62 | €106,037 | €104,183 | -€1,854 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,648 | €27,031 | -€617 | -2.2% |
| Other operating charges | 640/8 | €5,291 | €1,493 | -€3,798 | -71.8% |
| Gross operating margin | 9900 | €153,043 | €118,661 | -€34,382 | -22.5% |
| Operating profit (loss) | 9901 | €14,068 | -€14,046 | -€28,114 | |
| Financial income | 75/76B | €962 | €199 | -€764 | -79.4% |
| Recurring financial income | 75 | €962 | €199 | -€764 | -79.4% |
| Financial charges | 65/66B | €360 | €676 | +€316 | +87.6% |
| Recurring financial charges | 65 | €360 | €676 | +€316 | +87.6% |
| Profit (loss) for the period before taxes | 9903 | €14,670 | -€14,523 | -€29,193 | |
| Income taxes | 67/77 | €4,211 | €191 | -€4,020 | -95.5% |
| Profit (loss) for the period | 9904 | €10,459 | -€14,714 | -€25,172 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,459 | -€14,714 | -€25,172 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.