SVG Projects: 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.
SVG Projects
Largest movements
- Receivables within one year +€35,856
up €35,856 (+61.6%), from €58,240 to €94,096
of which Other amounts receivable: +€36,857
- Cash +€6,854
up €6,854 (+23.1%), from €29,700 to €36,554
mainly Net result for the year (+€40,007) and Deferred charges and accrued income (+€4,257)
- Deferred charges and accrued income -€4,257
down €4,257 (-32.5%), from €13,097 to €8,841
- Tangible fixed assets +€2,001
up €2,001 (+66.4%), from €3,015 to €5,016
of which Furniture and vehicles: +€1,074
- Reserves +€113,821
new in 2025: €113,821
- Profit (loss) carried forward -€73,815
down €73,815 (-100.0%), from €73,815 to €0
- Tax, wage and social debts +€2,099
up €2,099 (+8.0%), from €26,181 to €28,280
- Trade debts -€1,532
down €1,532 (-79.1%), from €1,937 to €405
- Gross operating margin -€2,604
down €2,604 (-4.8%), from €54,773 to €52,170
- Financial income +€2,161
up €2,161 (+145.3%), from €1,488 to €3,649
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 | €104,053 | €144,507 | +€40,454 | +38.9% |
| Fixed assets | 21/28 | €3,015 | €5,016 | +€2,001 | +66.4% |
| Tangible fixed assets | 22/27 | €3,015 | €5,016 | +€2,001 | +66.4% |
| Plant, machinery and equipment | 23 | €332 | €1,260 | +€927 | +278.9% |
| Furniture and vehicles | 24 | €2,682 | €3,756 | +€1,074 | +40.0% |
| Current assets | 29/58 | €101,038 | €139,491 | +€38,453 | +38.1% |
| Amounts receivable within one year | 40/41 | €58,240 | €94,096 | +€35,856 | +61.6% |
| Trade receivables | 40 | €12,750 | €11,748 | -€1,002 | -7.9% |
| Other amounts receivable | 41 | €45,491 | €82,348 | +€36,857 | +81.0% |
| Cash at bank and in hand | 54/58 | €29,700 | €36,554 | +€6,854 | +23.1% |
| Deferred charges and accrued income | 490/1 | €13,097 | €8,841 | -€4,257 | -32.5% |
| Total equity and liabilities | 10/49 | €104,053 | €144,507 | +€40,454 | +38.9% |
| Equity | 10/15 | €75,815 | €115,821 | +€40,007 | +52.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | - | €113,821 | +€113,821 | |
| Distributable reserves | 133 | - | €113,821 | +€113,821 | |
| Profit (loss) carried forward | 14 | €73,815 | €0 | -€73,815 | -100.0% |
| Amounts payable | 17/49 | €28,238 | €28,685 | +€447 | +1.6% |
| Amounts payable within one year | 42/48 | €28,118 | €28,685 | +€567 | +2.0% |
| Trade debts | 44 | €1,937 | €405 | -€1,532 | -79.1% |
| Suppliers | 440/4 | €1,937 | €405 | -€1,532 | -79.1% |
| Taxes, remuneration and social security | 45 | €26,181 | €28,280 | +€2,099 | +8.0% |
| Taxes | 450/3 | €26,181 | €28,280 | +€2,099 | +8.0% |
| Accrued charges and deferred income | 492/3 | €120 | €0 | -€120 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,114 | €1,304 | +€190 | +17.0% |
| Other operating charges | 640/8 | €805 | €693 | -€112 | -13.9% |
| Gross operating margin | 9900 | €54,773 | €52,170 | -€2,604 | -4.8% |
| Operating profit (loss) | 9901 | €52,855 | €50,173 | -€2,682 | -5.1% |
| Financial income | 75/76B | €1,488 | €3,649 | +€2,161 | +145.3% |
| Recurring financial income | 75 | €1,488 | €3,649 | +€2,161 | +145.3% |
| Financial charges | 65/66B | €2,611 | €2,435 | -€177 | -6.8% |
| Recurring financial charges | 65 | €2,611 | €2,435 | -€177 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €51,731 | €51,387 | -€344 | -0.7% |
| Income taxes | 67/77 | €11,097 | €11,381 | +€284 | +2.6% |
| Profit (loss) for the period | 9904 | €40,634 | €40,007 | -€628 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,634 | €40,007 | -€628 | -1.5% |
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 8 October 2026 via checked.be.