SVGES: 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.
SVGES
Largest movements
- Cash +€5,734
up €5,734 (+15,896%), from €36 to €5,770
mainly Other debts (+€19,000) and Net result for the year (+€8,114)
- Debts after one year -€21,620
down €21,620 (-26.7%), from €81,048 to €59,428
- Other debts +€19,000
up €19,000 (+11.3%), from €168,011 to €187,011
- Profit (loss) carried forward +€8,114
up €8,114 (+91.0%), from €8,918 to €17,032
- Other operating charges +€6,984
up €6,984 (+1,803%), from €387 to €7,372
- Write-downs -€6,972
new in 2025: -€6,972
- Financial income -€840
down €840 (-10.7%), from €7,840 to €7,000
- Depreciation -€546
down €546 (-71.6%), from €763 to €217
- Gross operating margin +€529
up €529 (+15.4%), from €3,430 to €3,959
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
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 | €432,413 | €438,050 | +€5,638 | +1.3% |
| Fixed assets | 21/28 | €429,097 | €428,881 | -€217 | -0.1% |
| Tangible fixed assets | 22/27 | €217 | €0 | -€217 | -100% |
| Furniture and vehicles | 24 | €217 | €0 | -€217 | -100% |
| Financial fixed assets | 28 | €428,881 | €428,881 | = | 0.0% |
| Current assets | 29/58 | €3,315 | €9,170 | +€5,855 | +177% |
| Amounts receivable within one year | 40/41 | €3,279 | €3,400 | +€121 | +3.7% |
| Trade receivables | 40 | €3,279 | €1,936 | -€1,343 | -41.0% |
| Other amounts receivable | 41 | - | €1,464 | +€1,464 | |
| Cash at bank and in hand | 54/58 | €36 | €5,770 | +€5,734 | +15,896% |
| Total equity and liabilities | 10/49 | €432,413 | €438,050 | +€5,638 | +1.3% |
| Equity | 10/15 | €158,918 | €167,032 | +€8,114 | +5.1% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,918 | €17,032 | +€8,114 | +91.0% |
| Amounts payable | 17/49 | €273,494 | €271,018 | -€2,476 | -0.9% |
| Amounts payable after more than one year | 17 | €81,048 | €59,428 | -€21,620 | -26.7% |
| Financial debts | 170/4 | €81,048 | €59,428 | -€21,620 | -26.7% |
| Amounts payable within one year | 42/48 | €192,303 | €211,476 | +€19,174 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €23,023 | €23,406 | +€383 | +1.7% |
| Trade debts | 44 | €1,068 | €781 | -€287 | -26.9% |
| Suppliers | 440/4 | €1,068 | €781 | -€287 | -26.9% |
| Taxes, remuneration and social security | 45 | €201 | €278 | +€78 | +38.8% |
| Taxes | 450/3 | €201 | €278 | +€78 | +38.8% |
| Other amounts payable | 47/48 | €168,011 | €187,011 | +€19,000 | +11.3% |
| Accrued charges and deferred income | 492/3 | €143 | €114 | -€29 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €763 | €217 | -€546 | -71.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€6,972 | -€6,972 | |
| Other operating charges | 640/8 | €387 | €7,372 | +€6,984 | +1,803% |
| Gross operating margin | 9900 | €3,430 | €3,959 | +€529 | +15.4% |
| Operating profit (loss) | 9901 | €2,280 | €3,343 | +€1,063 | +46.6% |
| Financial income | 75/76B | €7,840 | €7,000 | -€840 | -10.7% |
| Recurring financial income | 75 | €7,840 | €7,000 | -€840 | -10.7% |
| Financial charges | 65/66B | €2,079 | €2,229 | +€150 | +7.2% |
| Recurring financial charges | 65 | €2,079 | €2,229 | +€150 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €8,041 | €8,114 | +€73 | +0.9% |
| Profit (loss) for the period | 9904 | €8,041 | €8,114 | +€73 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,041 | €8,114 | +€73 | +0.9% |
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 25 October 2026 via checked.be.