Svend Construct: 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.
Svend Construct
Largest movements
- Receivables within one year -€45,865
down €45,865 (-81.7%), from €56,111 to €10,246
of which Trade receivables: -€51,647
- Tangible fixed assets +€25,721
up €25,721 (+649.8%), from €3,958 to €29,679
- Cash +€24,830
up €24,830 (+28.8%), from €86,198 to €111,028
mainly Receivables within one year (+€45,865) and Debts after one year (+€27,422)
- Stocks and contracts -€2,151
down €2,151 (-42.7%), from €5,038 to €2,887
- Debts after one year +€27,422
up €27,422 (+439.2%), from €6,243 to €33,665
- Tax, wage and social debts -€20,413
down €20,413 (-75.9%), from €26,895 to €6,482
- Trade debts -€19,002
down €19,002 (-80.9%), from €23,492 to €4,490
- Reserves +€14,553
up €14,553 (+17.6%), from €82,847 to €97,400
of which Distributable reserves: +€14,553
- Depreciation +€2,252
up €2,252 (+4149.6%), from €54 to €2,306
- Gross operating margin +€1,888
up €1,888 (+8.7%), from €21,601 to €23,489
- Taxes +€627
up €627 (+12.5%), from €5,026 to €5,653
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 | €151,877 | €154,436 | +€2,559 | +1.7% |
| Fixed assets | 21/28 | €3,958 | €29,679 | +€25,721 | +649.8% |
| Tangible fixed assets | 22/27 | €3,958 | €29,679 | +€25,721 | +649.8% |
| Land and buildings | 22 | - | €5,522 | +€5,522 | |
| Plant, machinery and equipment | 23 | €3,958 | €14,592 | +€10,634 | +268.7% |
| Furniture and vehicles | 24 | - | €9,566 | +€9,566 | |
| Current assets | 29/58 | €147,919 | €124,757 | -€23,162 | -15.7% |
| Stocks and contracts in progress | 3 | €5,038 | €2,887 | -€2,151 | -42.7% |
| Stocks | 30/36 | €5,038 | €2,887 | -€2,151 | -42.7% |
| Amounts receivable within one year | 40/41 | €56,111 | €10,246 | -€45,865 | -81.7% |
| Trade receivables | 40 | €52,573 | €926 | -€51,647 | -98.2% |
| Other amounts receivable | 41 | €3,537 | €9,320 | +€5,782 | +163.5% |
| Cash at bank and in hand | 54/58 | €86,198 | €111,028 | +€24,830 | +28.8% |
| Deferred charges and accrued income | 490/1 | €573 | €596 | +€24 | +4.1% |
| Total equity and liabilities | 10/49 | €151,877 | €154,436 | +€2,559 | +1.7% |
| Equity | 10/15 | €95,247 | €109,800 | +€14,553 | +15.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €82,847 | €97,400 | +€14,553 | +17.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €80,987 | €95,540 | +€14,553 | +18.0% |
| Amounts payable | 17/49 | €56,630 | €44,636 | -€11,993 | -21.2% |
| Amounts payable after more than one year | 17 | €6,243 | €33,665 | +€27,422 | +439.2% |
| Other amounts payable | 178/9 | €6,243 | €33,665 | +€27,422 | +439.2% |
| Amounts payable within one year | 42/48 | €50,387 | €10,971 | -€39,415 | -78.2% |
| Trade debts | 44 | €23,492 | €4,490 | -€19,002 | -80.9% |
| Suppliers | 440/4 | €23,492 | €4,490 | -€19,002 | -80.9% |
| Taxes, remuneration and social security | 45 | €26,895 | €6,482 | -€20,413 | -75.9% |
| Taxes | 450/3 | €26,895 | €6,482 | -€20,413 | -75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54 | €2,306 | +€2,252 | +4149.6% |
| Other operating charges | 640/8 | €545 | €517 | -€28 | -5.1% |
| Gross operating margin | 9900 | €21,601 | €23,489 | +€1,888 | +8.7% |
| Operating profit (loss) | 9901 | €21,002 | €20,666 | -€335 | -1.6% |
| Financial income | 75/76B | €35 | €141 | +€106 | +303.6% |
| Recurring financial income | 75 | €35 | €141 | +€106 | +303.6% |
| Financial charges | 65/66B | €616 | €602 | -€14 | -2.3% |
| Recurring financial charges | 65 | €616 | €602 | -€14 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €20,421 | €20,206 | -€215 | -1.1% |
| Income taxes | 67/77 | €5,026 | €5,653 | +€627 | +12.5% |
| Profit (loss) for the period | 9904 | €15,394 | €14,553 | -€842 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,394 | €14,553 | -€842 | -5.5% |
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 3 October 2026 via checked.be.