SVLH: 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.
SVLH
Largest movements
- Receivables within one year -€141,606
down €141,606 (-35.1%), from €403,061 to €261,455
of which Other amounts receivable: -€78,747
- Tangible fixed assets -€79,860
down €79,860 (-57.8%), from €138,121 to €58,261
of which Furniture and vehicles: -€55,356
- Deferred charges and accrued income +€11,749
up €11,749 (+769.4%), from €1,527 to €13,276
- Stocks and contracts +€9,676
up €9,676 (+50.2%), from €19,258 to €28,934
- Trade debts -€224,207
down €224,207 (-53.7%), from €417,825 to €193,618
- Current portion of long-term debt +€24,162
up €24,162 (+101.9%), from €23,707 to €47,869
- Profit (loss) carried forward +€9,525
up €9,525 (+34.9%), from €27,258 to €36,783
- Accrued charges and deferred income -€7,500
no longer reported in 2025 (was €7,500)
- Other debts -€6,684
down €6,684 (-58.5%), from €11,417 to €4,733
- Depreciation -€10,534
down €10,534 (-23.6%), from €44,646 to €34,112
- Staff costs +€3,717
up €3,717 (+7.3%), from €50,976 to €54,693
- Gross operating margin +€2,633
up €2,633 (+2.0%), from €130,371 to €133,004
- Financial charges -€2,532
down €2,532 (-21.4%), from €11,846 to €9,314
- Other operating charges +€1,865
up €1,865 (+37.8%), from €4,939 to €6,804
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 | €572,924 | €367,996 | -€204,928 | -35.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €138,331 | €58,400 | -€79,931 | -57.8% |
| Intangible fixed assets | 21 | €210 | €0 | -€210 | -100.0% |
| Tangible fixed assets | 22/27 | €138,121 | €58,261 | -€79,860 | -57.8% |
| Plant, machinery and equipment | 23 | €66,609 | €42,105 | -€24,504 | -36.8% |
| Furniture and vehicles | 24 | €71,512 | €16,156 | -€55,356 | -77.4% |
| Financial fixed assets | 28 | - | €139 | +€139 | |
| Current assets | 29/58 | €434,593 | €309,596 | -€124,997 | -28.8% |
| Stocks and contracts in progress | 3 | €19,258 | €28,934 | +€9,676 | +50.2% |
| Stocks | 30/36 | €19,258 | €28,934 | +€9,676 | +50.2% |
| Amounts receivable within one year | 40/41 | €403,061 | €261,455 | -€141,606 | -35.1% |
| Trade receivables | 40 | €270,492 | €207,633 | -€62,859 | -23.2% |
| Other amounts receivable | 41 | €132,569 | €53,822 | -€78,747 | -59.4% |
| Cash at bank and in hand | 54/58 | €10,747 | €5,931 | -€4,816 | -44.8% |
| Deferred charges and accrued income | 490/1 | €1,527 | €13,276 | +€11,749 | +769.4% |
| Total equity and liabilities | 10/49 | €572,924 | €367,996 | -€204,928 | -35.8% |
| Equity | 10/15 | €68,928 | €78,453 | +€9,525 | +13.8% |
| Contributions | 10/11 | €41,670 | €41,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,258 | €36,783 | +€9,525 | +34.9% |
| Amounts payable | 17/49 | €503,996 | €289,543 | -€214,453 | -42.6% |
| Amounts payable after more than one year | 17 | €19,835 | €21,675 | +€1,840 | +9.3% |
| Financial debts | 170/4 | €19,835 | €21,675 | +€1,840 | +9.3% |
| Amounts payable within one year | 42/48 | €476,661 | €267,868 | -€208,793 | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €23,707 | €47,869 | +€24,162 | +101.9% |
| Trade debts | 44 | €417,825 | €193,618 | -€224,207 | -53.7% |
| Suppliers | 440/4 | €417,825 | €193,618 | -€224,207 | -53.7% |
| Taxes, remuneration and social security | 45 | €23,712 | €21,648 | -€2,064 | -8.7% |
| Taxes | 450/3 | €18,718 | €19,193 | +€475 | +2.5% |
| Remuneration and social security | 454/9 | €4,994 | €2,455 | -€2,539 | -50.8% |
| Other amounts payable | 47/48 | €11,417 | €4,733 | -€6,684 | -58.5% |
| Accrued charges and deferred income | 492/3 | €7,500 | - | -€7,500 | |
| Remuneration, social security and pensions | 62 | €50,976 | €54,693 | +€3,717 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,646 | €34,112 | -€10,534 | -23.6% |
| Other operating charges | 640/8 | €4,939 | €6,804 | +€1,865 | +37.8% |
| Non-recurring operating charges | 66A | €5,390 | €12,097 | +€6,707 | +124.4% |
| Gross operating margin | 9900 | €130,371 | €133,004 | +€2,633 | +2.0% |
| Operating profit (loss) | 9901 | €24,420 | €25,298 | +€878 | +3.6% |
| Financial income | 75/76B | €78 | - | -€78 | |
| Recurring financial income | 75 | €78 | - | -€78 | |
| Financial charges | 65/66B | €11,846 | €9,314 | -€2,532 | -21.4% |
| Recurring financial charges | 65 | €11,846 | €9,314 | -€2,532 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €12,652 | €15,984 | +€3,332 | +26.3% |
| Income taxes | 67/77 | €7,911 | €6,459 | -€1,452 | -18.4% |
| Profit (loss) for the period | 9904 | €4,741 | €9,525 | +€4,784 | +100.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,741 | €9,525 | +€4,784 | +100.9% |
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.