SVEN V: 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.
SVEN V
Largest movements
- Tangible fixed assets -€18,937
down €18,937 (-4.8%), from €397,026 to €378,090
of which Land and buildings: -€13,873
- Debts after one year -€54,718
down €54,718 (-20.3%), from €269,834 to €215,116
of which Other amounts payable: -€37,055
- Other debts +€24,348
up €24,348 (+934%), from €2,608 to €26,956
- Reserves +€15,416
up €15,416 (+103%), from €15,022 to €30,438
- Trade debts -€5,201
down €5,201 (-20.1%), from €25,878 to €20,677
- Gross operating margin +€6,934
up €6,934 (+15.0%), from €46,096 to €53,029
- Financial charges -€3,113
down €3,113 (-22.3%), from €13,947 to €10,834
- Taxes +€2,291
up €2,291 (+67.5%), from €3,392 to €5,683
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €409,600 | €391,768 | -€17,832 | -4.4% |
| Formation expenses | 20 | €664 | €165 | -€499 | -75.2% |
| Fixed assets | 21/28 | €397,026 | €378,840 | -€18,187 | -4.6% |
| Tangible fixed assets | 22/27 | €397,026 | €378,090 | -€18,937 | -4.8% |
| Land and buildings | 22 | €360,716 | €346,843 | -€13,873 | -3.8% |
| Furniture and vehicles | 24 | €15,463 | €13,085 | -€2,379 | -15.4% |
| Other tangible fixed assets | 26 | €20,847 | €18,162 | -€2,685 | -12.9% |
| Financial fixed assets | 28 | - | €750 | +€750 | |
| Current assets | 29/58 | €11,910 | €12,764 | +€853 | +7.2% |
| Amounts receivable within one year | 40/41 | €10,405 | €11,192 | +€787 | +7.6% |
| Trade receivables | 40 | €10,405 | €11,192 | +€787 | +7.6% |
| Deferred charges and accrued income | 490/1 | €1,505 | €1,571 | +€66 | +4.4% |
| Total equity and liabilities | 10/49 | €409,600 | €391,768 | -€17,832 | -4.4% |
| Equity | 10/15 | €65,022 | €80,438 | +€15,416 | +23.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €15,022 | €30,438 | +€15,416 | +103% |
| Distributable reserves | 133 | €15,022 | €30,438 | +€15,416 | +103% |
| Amounts payable | 17/49 | €344,578 | €311,330 | -€33,248 | -9.6% |
| Amounts payable after more than one year | 17 | €269,834 | €215,116 | -€54,718 | -20.3% |
| Financial debts | 170/4 | €223,457 | €205,793 | -€17,664 | -7.9% |
| Other amounts payable | 178/9 | €46,377 | €9,322 | -€37,055 | -79.9% |
| Amounts payable within one year | 42/48 | €73,850 | €95,399 | +€21,550 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €17,187 | €17,664 | +€476 | +2.8% |
| Financial debts | 43 | €14,864 | €14,612 | -€252 | -1.7% |
| Credit institutions | 430/8 | €14,864 | €14,612 | -€252 | -1.7% |
| Trade debts | 44 | €25,878 | €20,677 | -€5,201 | -20.1% |
| Suppliers | 440/4 | €25,878 | €20,677 | -€5,201 | -20.1% |
| Taxes, remuneration and social security | 45 | €13,312 | €15,491 | +€2,179 | +16.4% |
| Taxes | 450/3 | €13,312 | €15,491 | +€2,179 | +16.4% |
| Other amounts payable | 47/48 | €2,608 | €26,956 | +€24,348 | +934% |
| Accrued charges and deferred income | 492/3 | €894 | €815 | -€79 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,555 | €19,435 | -€120 | -0.6% |
| Other operating charges | 640/8 | €1,434 | €1,662 | +€228 | +15.9% |
| Gross operating margin | 9900 | €46,096 | €53,029 | +€6,934 | +15.0% |
| Operating profit (loss) | 9901 | €25,107 | €31,932 | +€6,826 | +27.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €13,947 | €10,834 | -€3,113 | -22.3% |
| Recurring financial charges | 65 | €13,947 | €10,834 | -€3,113 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €11,160 | €21,099 | +€9,939 | +89.1% |
| Income taxes | 67/77 | €3,392 | €5,683 | +€2,291 | +67.5% |
| Profit (loss) for the period | 9904 | €7,768 | €15,416 | +€7,648 | +98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,768 | €15,416 | +€7,648 | +98.5% |
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 24 October 2026 via checked.be.