SVL: 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.
SVL
Largest movements
- Tangible fixed assets -€62,133
down €62,133 (-39.1%), from €158,817 to €96,684
of which Leasing and similar rights: -€36,846
- Cash +€38,550
up €38,550 (+104.2%), from €37,009 to €75,559
mainly Depreciation (+€39,849) and Net result for the year (+€36,003)
- Receivables within one year +€31,996
up €31,996 (+50.8%), from €62,934 to €94,930
of which Trade receivables: +€31,137
- Reserves +€36,003
up €36,003 (+23.6%), from €152,807 to €188,810
- Accrued charges and deferred income +€35,796
up €35,796 (+6977.8%), from €513 to €36,309
- Debts after one year -€30,907
down €30,907 (-92.0%), from €33,594 to €2,687
- Other debts -€30,590
down €30,590 (-80.3%), from €38,072 to €7,482
- Short-term financial debts -€26,108
no longer reported in 2025 (was €26,108)
- Gross operating margin +€130,906
up €130,906 (+139.4%), from €93,894 to €224,800
- Staff costs +€85,078
up €85,078 (+217.7%), from €39,087 to €124,165
- Taxes +€16,557
up €16,557 (+15051.8%), from €110 to €16,667
- Financial charges -€2,824
down €2,824 (-30.6%), from €9,230 to €6,406
of which Non-recurring financial charges: -€5,807
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 | €264,557 | €272,867 | +€8,310 | +3.1% |
| Fixed assets | 21/28 | €159,817 | €97,684 | -€62,133 | -38.9% |
| Tangible fixed assets | 22/27 | €158,817 | €96,684 | -€62,133 | -39.1% |
| Land and buildings | 22 | €23,890 | €21,238 | -€2,652 | -11.1% |
| Plant, machinery and equipment | 23 | €6,847 | €5,366 | -€1,481 | -21.6% |
| Furniture and vehicles | 24 | €91,234 | €70,080 | -€21,154 | -23.2% |
| Leasing and similar rights | 25 | €36,846 | - | -€36,846 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €104,740 | €175,183 | +€70,443 | +67.3% |
| Amounts receivable within one year | 40/41 | €62,934 | €94,930 | +€31,996 | +50.8% |
| Trade receivables | 40 | €42,671 | €73,808 | +€31,137 | +73.0% |
| Other amounts receivable | 41 | €20,263 | €21,122 | +€859 | +4.2% |
| Cash at bank and in hand | 54/58 | €37,009 | €75,559 | +€38,550 | +104.2% |
| Deferred charges and accrued income | 490/1 | €4,797 | €4,694 | -€103 | -2.1% |
| Total equity and liabilities | 10/49 | €264,557 | €272,867 | +€8,310 | +3.1% |
| Equity | 10/15 | €154,784 | €190,787 | +€36,003 | +23.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €152,807 | €188,810 | +€36,003 | +23.6% |
| Distributable reserves | 133 | €152,807 | €188,810 | +€36,003 | +23.6% |
| Profit (loss) carried forward | 14 | €477 | €477 | = | 0.0% |
| Amounts payable | 17/49 | €109,773 | €82,080 | -€27,693 | -25.2% |
| Amounts payable after more than one year | 17 | €33,594 | €2,687 | -€30,907 | -92.0% |
| Financial debts | 170/4 | €33,594 | €2,687 | -€30,907 | -92.0% |
| Amounts payable within one year | 42/48 | €75,666 | €43,084 | -€32,582 | -43.1% |
| Current portion of amounts payable after more than one year | 42 | - | €16,676 | +€16,676 | |
| Financial debts | 43 | €26,108 | - | -€26,108 | |
| Credit institutions | 430/8 | €26,108 | - | -€26,108 | |
| Trade debts | 44 | €2,521 | €7,569 | +€5,048 | +200.2% |
| Suppliers | 440/4 | €2,521 | €7,569 | +€5,048 | +200.2% |
| Taxes, remuneration and social security | 45 | €8,965 | €11,357 | +€2,392 | +26.7% |
| Taxes | 450/3 | €3,423 | €4,778 | +€1,355 | +39.6% |
| Remuneration and social security | 454/9 | €5,542 | €6,579 | +€1,037 | +18.7% |
| Other amounts payable | 47/48 | €38,072 | €7,482 | -€30,590 | -80.3% |
| Accrued charges and deferred income | 492/3 | €513 | €36,309 | +€35,796 | +6977.8% |
| Non-recurring operating income | 76A | - | €1,103 | +€1,103 | |
| Remuneration, social security and pensions | 62 | €39,087 | €124,165 | +€85,078 | +217.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,713 | €39,849 | -€1,864 | -4.5% |
| Other operating charges | 640/8 | €1,442 | €1,779 | +€337 | +23.4% |
| Non-recurring operating charges | 66A | €1,211 | - | -€1,211 | |
| Gross operating margin | 9900 | €93,894 | €224,800 | +€130,906 | +139.4% |
| Operating profit (loss) | 9901 | €10,441 | €59,007 | +€48,566 | +465.1% |
| Financial income | 75/76B | €6 | €69 | +€63 | +1050.0% |
| Recurring financial income | 75 | €6 | €69 | +€63 | +1050.0% |
| Financial charges | 65/66B | €9,230 | €6,406 | -€2,824 | -30.6% |
| Recurring financial charges | 65 | €3,423 | €6,406 | +€2,983 | +87.1% |
| Non-recurring financial charges | 66B | €5,807 | - | -€5,807 | |
| Profit (loss) for the period before taxes | 9903 | €1,217 | €52,670 | +€51,453 | +4227.9% |
| Income taxes | 67/77 | €110 | €16,667 | +€16,557 | +15051.8% |
| Profit (loss) for the period | 9904 | €1,107 | €36,003 | +€34,896 | +3152.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,107 | €36,003 | +€34,896 | +3152.3% |
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 11 October 2026 via checked.be.