SVH: 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.
SVH
Largest movements
- Cash +€2.9m
up €2.9m (+5,956%), from €49,307 to €3.0m
mainly Receivables within one year (+€2.8m) and Net result for the year (+€296,082)
- Receivables within one year -€2.8m
down €2.8m (-83.3%), from €3.4m to €569,228
of which Other amounts receivable: -€2.9m
- Reserves +€296,082
up €296,082 (+2.9%), from €10.2m to €10.5m
- Other debts -€242,000
down €242,000 (-39.0%), from €620,000 to €378,000
- Financial income -€3.9m
down €3.9m (-97.9%), from €4.0m to €82,768
- Gross operating margin -€2.4m
down €2.4m (-75.3%), from €3.2m to €788,046
- Taxes -€612,963
down €612,963 (-81.3%), from €753,624 to €140,661
- Staff costs +€167,731
up €167,731 (+83.3%), from €201,457 to €369,187
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 | €11,276,853 | €11,312,966 | +€36,113 | +0.3% |
| Fixed assets | 21/28 | €7,751,348 | €7,690,454 | -€60,895 | -0.8% |
| Tangible fixed assets | 22/27 | €221,928 | €161,034 | -€60,895 | -27.4% |
| Furniture and vehicles | 24 | €221,928 | €161,034 | -€60,895 | -27.4% |
| Financial fixed assets | 28 | €7,529,420 | €7,529,420 | = | 0.0% |
| Current assets | 29/58 | €3,525,505 | €3,622,513 | +€97,008 | +2.8% |
| Amounts receivable within one year | 40/41 | €3,407,568 | €569,228 | -€2.8m | -83.3% |
| Trade receivables | 40 | €6,683 | €57,600 | +€50,917 | +762% |
| Other amounts receivable | 41 | €3,400,886 | €511,628 | -€2.9m | -85.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €49,307 | €2,986,162 | +€2.9m | +5,956% |
| Deferred charges and accrued income | 490/1 | €68,629 | €67,122 | -€1,507 | -2.2% |
| Total equity and liabilities | 10/49 | €11,276,853 | €11,312,966 | +€36,113 | +0.3% |
| Equity | 10/15 | €10,511,329 | €10,807,412 | +€296,082 | +2.8% |
| Contributions | 10/11 | €284,000 | €284,000 | = | 0.0% |
| Reserves | 13 | €10,227,329 | €10,523,412 | +€296,082 | +2.9% |
| Distributable reserves | 133 | €10,227,329 | €10,523,412 | +€296,082 | +2.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €29,440 | €29,440 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €29,440 | €29,440 | = | 0.0% |
| Pensions and similar obligations | 160 | €29,440 | €29,440 | = | 0.0% |
| Amounts payable | 17/49 | €736,084 | €476,115 | -€259,969 | -35.3% |
| Amounts payable within one year | 42/48 | €731,749 | €473,380 | -€258,369 | -35.3% |
| Trade debts | 44 | €221 | €2,073 | +€1,852 | +839% |
| Suppliers | 440/4 | €221 | €2,073 | +€1,852 | +839% |
| Taxes, remuneration and social security | 45 | €111,528 | €93,307 | -€18,222 | -16.3% |
| Taxes | 450/3 | €59,350 | €30,196 | -€29,154 | -49.1% |
| Remuneration and social security | 454/9 | €52,178 | €63,110 | +€10,932 | +21.0% |
| Other amounts payable | 47/48 | €620,000 | €378,000 | -€242,000 | -39.0% |
| Accrued charges and deferred income | 492/3 | €4,334 | €2,735 | -€1,600 | -36.9% |
| Non-recurring operating income | 76A | - | €11,000 | +€11,000 | |
| Remuneration, social security and pensions | 62 | €201,457 | €369,187 | +€167,731 | +83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,175 | €60,895 | +€18,720 | +44.4% |
| Other operating charges | 640/8 | €2,648 | €1,765 | -€883 | -33.4% |
| Gross operating margin | 9900 | €3,194,348 | €788,046 | -€2.4m | -75.3% |
| Operating profit (loss) | 9901 | €2,948,068 | €356,199 | -€2.6m | -87.9% |
| Financial income | 75/76B | €3,974,753 | €82,768 | -€3.9m | -97.9% |
| Recurring financial income | 75 | €3,974,753 | €82,768 | -€3.9m | -97.9% |
| Financial charges | 65/66B | €11,273 | €2,223 | -€9,050 | -80.3% |
| Recurring financial charges | 65 | €11,273 | €2,223 | -€9,050 | -80.3% |
| Profit (loss) for the period before taxes | 9903 | €6,911,548 | €436,744 | -€6.5m | -93.7% |
| Income taxes | 67/77 | €753,624 | €140,661 | -€612,963 | -81.3% |
| Profit (loss) for the period | 9904 | €6,157,924 | €296,082 | -€5.9m | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,157,924 | €296,082 | -€5.9m | -95.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.