SVERA: what changed
SVERA
Largest movements
- Tangible fixed assets +€29,959
up €29,959 (+254%), from €11,817 to €41,776
of which Furniture and vehicles: +€30,274
- Cash -€8,291
down €8,291 (-34.9%), from €23,763 to €15,472
mainly Investment in fixed assets (net) (-€35,740) and Accrued charges and deferred income (-€5,000)
- Receivables within one year -€5,858
down €5,858 (-27.9%), from €21,001 to €15,142
of which Trade receivables: -€8,186
- Reserves +€19,514
up €19,514 (+52.4%), from €37,268 to €56,782
- Trade debts +€5,384
up €5,384 (+333%), from €1,618 to €7,002
- Accrued charges and deferred income -€5,000
no longer reported in 2025 (was €5,000)
- Other debts -€4,366
down €4,366 (-41.1%), from €10,615 to €6,249
- Tax, wage and social debts +€1,090
up €1,090 (+56.0%), from €1,946 to €3,036
of which Taxes: +€624
- Gross operating margin +€37,347
up €37,347 (+228%), from €16,416 to €53,763
- Taxes +€5,884
up €5,884 (+1,068%), from €551 to €6,435
- Staff costs +€5,567
up €5,567 (+134%), from €4,141 to €9,708
- Depreciation -€3,686
down €3,686 (-38.9%), from €9,466 to €5,781
- Financial charges +€2,436
up €2,436 (+1,290%), from €189 to €2,625
of which Non-recurring financial charges: +€2,172
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,447 | €75,068 | +€16,622 | +28.4% |
| Fixed assets | 21/28 | €11,817 | €41,776 | +€29,959 | +254% |
| Tangible fixed assets | 22/27 | €11,817 | €41,776 | +€29,959 | +254% |
| Plant, machinery and equipment | 23 | €315 | - | -€315 | |
| Furniture and vehicles | 24 | €11,502 | €41,776 | +€30,274 | +263% |
| Current assets | 29/58 | €46,630 | €33,292 | -€13,338 | -28.6% |
| Stocks and contracts in progress | 3 | €950 | €1,125 | +€175 | +18.4% |
| Stocks | 30/36 | €950 | €1,125 | +€175 | +18.4% |
| Amounts receivable within one year | 40/41 | €21,001 | €15,142 | -€5,858 | -27.9% |
| Trade receivables | 40 | €21,001 | €12,815 | -€8,186 | -39.0% |
| Other amounts receivable | 41 | - | €2,327 | +€2,327 | |
| Cash at bank and in hand | 54/58 | €23,763 | €15,472 | -€8,291 | -34.9% |
| Deferred charges and accrued income | 490/1 | €916 | €1,553 | +€637 | +69.5% |
| Total equity and liabilities | 10/49 | €58,447 | €75,068 | +€16,622 | +28.4% |
| Equity | 10/15 | €39,268 | €58,782 | +€19,514 | +49.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €37,268 | €56,782 | +€19,514 | +52.4% |
| Distributable reserves | 133 | €37,268 | €56,782 | +€19,514 | +52.4% |
| Amounts payable | 17/49 | €19,179 | €16,287 | -€2,892 | -15.1% |
| Amounts payable within one year | 42/48 | €14,179 | €16,287 | +€2,108 | +14.9% |
| Trade debts | 44 | €1,618 | €7,002 | +€5,384 | +333% |
| Suppliers | 440/4 | €1,618 | €7,002 | +€5,384 | +333% |
| Taxes, remuneration and social security | 45 | €1,946 | €3,036 | +€1,090 | +56.0% |
| Taxes | 450/3 | €1,427 | €2,051 | +€624 | +43.7% |
| Remuneration and social security | 454/9 | €519 | €985 | +€466 | +89.7% |
| Other amounts payable | 47/48 | €10,615 | €6,249 | -€4,366 | -41.1% |
| Accrued charges and deferred income | 492/3 | €5,000 | - | -€5,000 | |
| Non-recurring operating income | 76A | - | €8,657 | +€8,657 | |
| Remuneration, social security and pensions | 62 | €4,141 | €9,708 | +€5,567 | +134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,466 | €5,781 | -€3,686 | -38.9% |
| Other operating charges | 640/8 | €1,023 | €2,634 | +€1,612 | +158% |
| Non-recurring operating charges | 66A | - | €6,266 | +€6,266 | |
| Gross operating margin | 9900 | €16,416 | €53,763 | +€37,347 | +228% |
| Operating profit (loss) | 9901 | €1,786 | €29,374 | +€27,588 | +1,545% |
| Financial charges | 65/66B | €189 | €2,625 | +€2,436 | +1,290% |
| Recurring financial charges | 65 | €189 | €453 | +€264 | +140% |
| Non-recurring financial charges | 66B | - | €2,172 | +€2,172 | |
| Profit (loss) for the period before taxes | 9903 | €1,597 | €26,749 | +€25,152 | +1,575% |
| Income taxes | 67/77 | €551 | €6,435 | +€5,884 | +1,068% |
| Profit (loss) for the period | 9904 | €1,046 | €20,314 | +€19,267 | +1,841% |
| Profit (loss) for the period to be appropriated | 9905 | €1,046 | €20,314 | +€19,267 | +1,841% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.