SVENING: 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.
SVENING
Largest movements
- Current investments +€85,000
new in 2025: €85,000
- Cash -€46,074
down €46,074 (-70.2%), from €65,619 to €19,545
mainly Current investments (-€85,000) and Contributions, distributions and other (-€8,398)
- Tangible fixed assets -€14,273
down €14,273 (-12.5%), from €114,201 to €99,928
of which Plant, machinery and equipment: -€14,273
- Receivables within one year -€8,000
no longer reported in 2025 (was €8,000)
- Reserves +€17,388
up €17,388 (+11.6%), from €149,550 to €166,938
- Gross operating margin +€3,737
up €3,737 (+6.8%), from €55,162 to €58,899
- Taxes +€827
up €827 (+7.4%), from €11,215 to €12,042
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 | €188,186 | €204,805 | +€16,619 | +8.8% |
| Fixed assets | 21/28 | €114,201 | €99,928 | -€14,273 | -12.5% |
| Tangible fixed assets | 22/27 | €114,201 | €99,928 | -€14,273 | -12.5% |
| Land and buildings | 22 | €17,295 | €17,295 | = | 0.0% |
| Plant, machinery and equipment | 23 | €96,906 | €82,633 | -€14,273 | -14.7% |
| Current assets | 29/58 | €73,986 | €104,877 | +€30,891 | +41.8% |
| Amounts receivable within one year | 40/41 | €8,000 | - | -€8,000 | |
| Other amounts receivable | 41 | €8,000 | - | -€8,000 | |
| Current investments | 50/53 | - | €85,000 | +€85,000 | |
| Cash at bank and in hand | 54/58 | €65,619 | €19,545 | -€46,074 | -70.2% |
| Deferred charges and accrued income | 490/1 | €367 | €333 | -€34 | -9.4% |
| Total equity and liabilities | 10/49 | €188,186 | €204,805 | +€16,619 | +8.8% |
| Equity | 10/15 | €180,450 | €197,838 | +€17,388 | +9.6% |
| Contributions | 10/11 | €30,900 | €30,900 | = | 0.0% |
| Reserves | 13 | €149,550 | €166,938 | +€17,388 | +11.6% |
| Distributable reserves | 133 | €149,550 | €166,938 | +€17,388 | +11.6% |
| Amounts payable | 17/49 | €7,736 | €6,967 | -€769 | -9.9% |
| Amounts payable within one year | 42/48 | €3,139 | €2,199 | -€940 | -30.0% |
| Taxes, remuneration and social security | 45 | €1,805 | €770 | -€1,035 | -57.4% |
| Taxes | 450/3 | €1,805 | €770 | -€1,035 | -57.4% |
| Other amounts payable | 47/48 | €1,334 | €1,429 | +€95 | +7.1% |
| Accrued charges and deferred income | 492/3 | €4,597 | €4,768 | +€171 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,972 | €15,794 | -€178 | -1.1% |
| Other operating charges | 640/8 | €5,314 | €5,874 | +€560 | +10.5% |
| Gross operating margin | 9900 | €55,162 | €58,899 | +€3,737 | +6.8% |
| Operating profit (loss) | 9901 | €33,876 | €37,231 | +€3,355 | +9.9% |
| Financial income | 75/76B | €1,368 | €860 | -€508 | -37.1% |
| Recurring financial income | 75 | €1,368 | €860 | -€508 | -37.1% |
| Financial charges | 65/66B | €235 | €264 | +€29 | +12.3% |
| Recurring financial charges | 65 | €235 | €264 | +€29 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €35,009 | €37,828 | +€2,818 | +8.1% |
| Income taxes | 67/77 | €11,215 | €12,042 | +€827 | +7.4% |
| Profit (loss) for the period | 9904 | €23,794 | €25,786 | +€1,992 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,794 | €25,786 | +€1,992 | +8.4% |
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 1 October 2026 via checked.be.