SVM Publishing: 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.
SVM Publishing
Largest movements
- Cash +€160,596
up €160,596 (+112%), from €143,845 to €304,440
mainly Net result for the year (+€147,612) and Trade debts (+€96,040)
- Receivables within one year +€83,853
up €83,853 (+58.2%), from €144,093 to €227,946
of which Trade receivables: +€94,520
- Tangible fixed assets -€27,687
down €27,687 (-12.1%), from €228,835 to €201,148
of which Furniture and vehicles: -€18,238
- Stocks and contracts +€26,948
up €26,948 (+48.7%), from €55,331 to €82,279
- Trade debts +€96,040
up €96,040 (+61.4%), from €156,365 to €252,405
- Other debts +€42,219
up €42,219 (+63.6%), from €66,355 to €108,575
- Profit (loss) carried forward +€38,612
up €38,612 (+35.2%), from €109,788 to €148,401
- Debts after one year +€33,134
up €33,134 (+18.3%), from €181,389 to €214,523
- Short-term financial debts +€25,000
up €25,000 (+100%), from €25,000 to €50,000
- Gross operating margin +€85,944
up €85,944 (+35.0%), from €245,478 to €331,422
- Staff costs +€17,605
up €17,605 (+21.8%), from €80,758 to €98,363
- Taxes +€13,985
up €13,985 (+42.9%), from €32,600 to €46,585
- Financial charges +€5,540
up €5,540 (+40.5%), from €13,677 to €19,217
- Other operating charges +€4,114
up €4,114 (+176%), from €2,341 to €6,455
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 | €574,223 | €826,021 | +€251,798 | +43.9% |
| Fixed assets | 21/28 | €228,835 | €201,148 | -€27,687 | -12.1% |
| Tangible fixed assets | 22/27 | €228,835 | €201,148 | -€27,687 | -12.1% |
| Land and buildings | 22 | €183,667 | €177,545 | -€6,122 | -3.3% |
| Furniture and vehicles | 24 | €29,496 | €11,258 | -€18,238 | -61.8% |
| Leasing and similar rights | 25 | €15,672 | €12,345 | -€3,327 | -21.2% |
| Current assets | 29/58 | €345,388 | €624,873 | +€279,486 | +80.9% |
| Stocks and contracts in progress | 3 | €55,331 | €82,279 | +€26,948 | +48.7% |
| Stocks | 30/36 | €55,331 | €82,279 | +€26,948 | +48.7% |
| Amounts receivable within one year | 40/41 | €144,093 | €227,946 | +€83,853 | +58.2% |
| Trade receivables | 40 | €131,011 | €225,531 | +€94,520 | +72.1% |
| Other amounts receivable | 41 | €13,082 | €2,415 | -€10,667 | -81.5% |
| Cash at bank and in hand | 54/58 | €143,845 | €304,440 | +€160,596 | +112% |
| Deferred charges and accrued income | 490/1 | €2,119 | €10,208 | +€8,088 | +382% |
| Total equity and liabilities | 10/49 | €574,223 | €826,021 | +€251,798 | +43.9% |
| Equity | 10/15 | €111,788 | €150,401 | +€38,612 | +34.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,788 | €148,401 | +€38,612 | +35.2% |
| Amounts payable | 17/49 | €462,435 | €675,621 | +€213,186 | +46.1% |
| Amounts payable after more than one year | 17 | €181,389 | €214,523 | +€33,134 | +18.3% |
| Financial debts | 170/4 | €181,389 | €214,523 | +€33,134 | +18.3% |
| Amounts payable within one year | 42/48 | €281,045 | €461,098 | +€180,052 | +64.1% |
| Current portion of amounts payable after more than one year | 42 | €16,906 | €37,897 | +€20,991 | +124% |
| Financial debts | 43 | €25,000 | €50,000 | +€25,000 | +100% |
| Credit institutions | 430/8 | €25,000 | €50,000 | +€25,000 | +100% |
| Trade debts | 44 | €156,365 | €252,405 | +€96,040 | +61.4% |
| Suppliers | 440/4 | €156,365 | €252,405 | +€96,040 | +61.4% |
| Taxes, remuneration and social security | 45 | €16,419 | €12,221 | -€4,198 | -25.6% |
| Taxes | 450/3 | €6,975 | €2,674 | -€4,301 | -61.7% |
| Remuneration and social security | 454/9 | €9,443 | €9,546 | +€103 | +1.1% |
| Other amounts payable | 47/48 | €66,355 | €108,575 | +€42,219 | +63.6% |
| Remuneration, social security and pensions | 62 | €80,758 | €98,363 | +€17,605 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,467 | €13,257 | +€3,790 | +40.0% |
| Other operating charges | 640/8 | €2,341 | €6,455 | +€4,114 | +176% |
| Gross operating margin | 9900 | €245,478 | €331,422 | +€85,944 | +35.0% |
| Operating profit (loss) | 9901 | €152,913 | €213,348 | +€60,436 | +39.5% |
| Financial income | 75/76B | €2,257 | €66 | -€2,191 | -97.1% |
| Recurring financial income | 75 | €2,257 | €66 | -€2,191 | -97.1% |
| Financial charges | 65/66B | €13,677 | €19,217 | +€5,540 | +40.5% |
| Recurring financial charges | 65 | €13,677 | €19,217 | +€5,540 | +40.5% |
| Profit (loss) for the period before taxes | 9903 | €141,493 | €194,197 | +€52,704 | +37.2% |
| Income taxes | 67/77 | €32,600 | €46,585 | +€13,985 | +42.9% |
| Profit (loss) for the period | 9904 | €108,893 | €147,612 | +€38,719 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €108,893 | €147,612 | +€38,719 | +35.6% |
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 15 October 2026 via checked.be.