SVM Projects & Consulting: 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.
SVM Projects & Consulting
Largest movements
- Stocks and contracts -€395,125
no longer reported in 2025 (was €395,125)
- Tangible fixed assets +€119,376
up €119,376 (+68.2%), from €174,999 to €294,375
of which Land and buildings: +€113,505
- Cash +€64,555
up €64,555 (+76.5%), from €84,340 to €148,895
mainly Stocks and contracts (+€395,125) and Debts after one year (+€86,324)
- Receivables within one year -€15,729
down €15,729 (-37.6%), from €41,801 to €26,072
of which Other amounts receivable: -€11,112
- Current investments +€14,000
new in 2025: €14,000
- Short-term financial debts -€288,209
down €288,209 (-99.4%), from €290,077 to €1,868
of which Credit institutions: -€285,000
- Debts after one year +€86,324
up €86,324 (+66.5%), from €129,744 to €216,067
- Other debts +€60,000
up €60,000 (+367.7%), from €16,318 to €76,318
- Reserves -€38,797
down €38,797 (-20.0%), from €194,105 to €155,309
- Current portion of long-term debt -€24,607
down €24,607 (-67.4%), from €36,525 to €11,918
- Gross operating margin +€15,559
up €15,559 (+35.0%), from €44,442 to €60,002
- Depreciation +€9,909
up €9,909 (+172.1%), from €5,758 to €15,667
- Financial charges +€4,641
up €4,641 (+125.8%), from €3,690 to €8,331
- Financial income -€3,131
no longer reported in 2025 (was €3,131)
- Taxes +€2,864
up €2,864 (+32.2%), from €8,888 to €11,752
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 | €697,256 | €483,706 | -€213,549 | -30.6% |
| Fixed assets | 21/28 | €174,999 | €294,375 | +€119,376 | +68.2% |
| Tangible fixed assets | 22/27 | €174,999 | €294,375 | +€119,376 | +68.2% |
| Land and buildings | 22 | €174,999 | €288,504 | +€113,505 | +64.9% |
| Plant, machinery and equipment | 23 | - | €1,468 | +€1,468 | |
| Furniture and vehicles | 24 | - | €4,403 | +€4,403 | |
| Current assets | 29/58 | €522,257 | €189,331 | -€332,926 | -63.7% |
| Stocks and contracts in progress | 3 | €395,125 | - | -€395,125 | |
| Stocks | 30/36 | €395,125 | - | -€395,125 | |
| Amounts receivable within one year | 40/41 | €41,801 | €26,072 | -€15,729 | -37.6% |
| Trade receivables | 40 | €30,689 | €26,072 | -€4,617 | -15.0% |
| Other amounts receivable | 41 | €11,112 | - | -€11,112 | |
| Current investments | 50/53 | - | €14,000 | +€14,000 | |
| Cash at bank and in hand | 54/58 | €84,340 | €148,895 | +€64,555 | +76.5% |
| Deferred charges and accrued income | 490/1 | €991 | €365 | -€626 | -63.2% |
| Total equity and liabilities | 10/49 | €697,256 | €483,706 | -€213,549 | -30.6% |
| Equity | 10/15 | €196,105 | €157,309 | -€38,797 | -19.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €194,105 | €155,309 | -€38,797 | -20.0% |
| Distributable reserves | 133 | €194,105 | €155,309 | -€38,797 | -20.0% |
| Amounts payable | 17/49 | €501,150 | €326,397 | -€174,753 | -34.9% |
| Amounts payable after more than one year | 17 | €129,744 | €216,067 | +€86,324 | +66.5% |
| Financial debts | 170/4 | €129,744 | €216,067 | +€86,324 | +66.5% |
| Amounts payable within one year | 42/48 | €367,584 | €110,330 | -€257,254 | -70.0% |
| Current portion of amounts payable after more than one year | 42 | €36,525 | €11,918 | -€24,607 | -67.4% |
| Financial debts | 43 | €290,077 | €1,868 | -€288,209 | -99.4% |
| Credit institutions | 430/8 | €285,000 | - | -€285,000 | |
| Other loans | 439 | €5,077 | €1,868 | -€3,209 | -63.2% |
| Trade debts | 44 | €4,710 | €13,241 | +€8,531 | +181.1% |
| Suppliers | 440/4 | €4,710 | €13,241 | +€8,531 | +181.1% |
| Taxes, remuneration and social security | 45 | €19,954 | €6,985 | -€12,969 | -65.0% |
| Taxes | 450/3 | €18,704 | €6,872 | -€11,832 | -63.3% |
| Remuneration and social security | 454/9 | €1,250 | €113 | -€1,137 | -90.9% |
| Other amounts payable | 47/48 | €16,318 | €76,318 | +€60,000 | +367.7% |
| Accrued charges and deferred income | 492/3 | €3,823 | - | -€3,823 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,758 | €15,667 | +€9,909 | +172.1% |
| Other operating charges | 640/8 | €1,976 | €3,048 | +€1,073 | +54.3% |
| Non-recurring operating charges | 66A | €592 | - | -€592 | |
| Gross operating margin | 9900 | €44,442 | €60,002 | +€15,559 | +35.0% |
| Operating profit (loss) | 9901 | €36,117 | €41,287 | +€5,169 | +14.3% |
| Financial income | 75/76B | €3,131 | - | -€3,131 | |
| Recurring financial income | 75 | €3,131 | - | -€3,131 | |
| Financial charges | 65/66B | €3,690 | €8,331 | +€4,641 | +125.8% |
| Recurring financial charges | 65 | €3,690 | €8,331 | +€4,641 | +125.8% |
| Profit (loss) for the period before taxes | 9903 | €35,559 | €32,956 | -€2,603 | -7.3% |
| Income taxes | 67/77 | €8,888 | €11,752 | +€2,864 | +32.2% |
| Profit (loss) for the period | 9904 | €26,671 | €21,203 | -€5,467 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,671 | €21,203 | -€5,467 | -20.5% |
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 7 October 2026 via checked.be.