SVL Management: 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 Management
Largest movements
- Receivables within one year -€115,579
down €115,579 (-41.8%), from €276,320 to €160,741
of which Trade receivables: -€118,147
- Tangible fixed assets +€28,586
up €28,586 (+115%), from €24,773 to €53,360
of which Other tangible fixed assets: +€20,154
- Cash -€12,229
down €12,229 (-16.9%), from €72,150 to €59,921
mainly Contributions, distributions and other (-€482,688) and Investment in fixed assets (net) (-€40,958)
- Reserves -€222,165
down €222,165 (-98.1%), from €226,500 to €4,335
- Other debts +€188,895
up €188,895 (+4,288%), from €4,405 to €193,300
- Current portion of long-term debt -€38,254
down €38,254 (-67.4%), from €56,762 to €18,508
- Tax, wage and social debts -€16,186
down €16,186 (-31.9%), from €50,775 to €34,589
- Trade debts -€11,658
down €11,658 (-64.3%), from €18,128 to €6,470
- Gross operating margin +€37,444
up €37,444 (+11.6%), from €321,460 to €358,904
- Taxes +€12,432
up €12,432 (+17.8%), from €69,927 to €82,359
- Depreciation +€4,182
up €4,182 (+51.1%), from €8,190 to €12,371
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 | €375,169 | €275,801 | -€99,368 | -26.5% |
| Fixed assets | 21/28 | €24,803 | €53,390 | +€28,586 | +115% |
| Tangible fixed assets | 22/27 | €24,773 | €53,360 | +€28,586 | +115% |
| Plant, machinery and equipment | 23 | €2,519 | €1,626 | -€893 | -35.5% |
| Furniture and vehicles | 24 | €14,984 | €24,310 | +€9,326 | +62.2% |
| Other tangible fixed assets | 26 | €7,270 | €27,424 | +€20,154 | +277% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €350,366 | €222,411 | -€127,955 | -36.5% |
| Amounts receivable within one year | 40/41 | €276,320 | €160,741 | -€115,579 | -41.8% |
| Trade receivables | 40 | €261,247 | €143,100 | -€118,147 | -45.2% |
| Other amounts receivable | 41 | €15,073 | €17,641 | +€2,568 | +17.0% |
| Cash at bank and in hand | 54/58 | €72,150 | €59,921 | -€12,229 | -16.9% |
| Deferred charges and accrued income | 490/1 | €1,895 | €1,750 | -€146 | -7.7% |
| Total equity and liabilities | 10/49 | €375,169 | €275,801 | -€99,368 | -26.5% |
| Equity | 10/15 | €245,100 | €22,935 | -€222,165 | -90.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €226,500 | €4,335 | -€222,165 | -98.1% |
| Distributable reserves | 133 | €226,500 | €4,335 | -€222,165 | -98.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €130,069 | €252,866 | +€122,797 | +94.4% |
| Amounts payable within one year | 42/48 | €130,069 | €252,866 | +€122,797 | +94.4% |
| Current portion of amounts payable after more than one year | 42 | €56,762 | €18,508 | -€38,254 | -67.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €18,128 | €6,470 | -€11,658 | -64.3% |
| Suppliers | 440/4 | €18,128 | €6,470 | -€11,658 | -64.3% |
| Taxes, remuneration and social security | 45 | €50,775 | €34,589 | -€16,186 | -31.9% |
| Taxes | 450/3 | €50,775 | €34,589 | -€16,186 | -31.9% |
| Other amounts payable | 47/48 | €4,405 | €193,300 | +€188,895 | +4,288% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €6,309 | €0 | -€6,309 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,190 | €12,371 | +€4,182 | +51.1% |
| Other operating charges | 640/8 | €560 | €463 | -€97 | -17.3% |
| Non-recurring operating charges | 66A | €13,742 | €0 | -€13,742 | -100% |
| Gross operating margin | 9900 | €321,460 | €358,904 | +€37,444 | +11.6% |
| Operating profit (loss) | 9901 | €298,969 | €346,069 | +€47,101 | +15.8% |
| Financial income | 75/76B | €1 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -98.0% |
| Financial charges | 65/66B | €2,543 | €3,187 | +€645 | +25.4% |
| Recurring financial charges | 65 | €2,543 | €3,187 | +€645 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €296,426 | €342,882 | +€46,456 | +15.7% |
| Income taxes | 67/77 | €69,927 | €82,359 | +€12,432 | +17.8% |
| Profit (loss) for the period | 9904 | €226,500 | €260,523 | +€34,023 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €226,500 | €260,523 | +€34,023 | +15.0% |
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 24 October 2026 via checked.be.