SVM Sporthorses: 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 Sporthorses
Largest movements
- Receivables within one year -€14,588
down €14,588 (-56.5%), from €25,809 to €11,220
of which Trade receivables: -€18,215
- Cash +€7,920
up €7,920 (+98.8%), from €8,012 to €15,932
mainly Receivables within one year (+€14,588) and Other debts (+€12,678)
- Stocks and contracts +€6,500
up €6,500 (+43.3%), from €15,000 to €21,500
- Tangible fixed assets -€3,168
down €3,168 (-15.5%), from €20,395 to €17,227
of which Furniture and vehicles: -€5,600
- Trade debts -€16,751
down €16,751 (-62.4%), from €26,837 to €10,086
- Other debts +€12,678
new in 2025: €12,678
- Profit (loss) carried forward +€9,918
up €9,918 (+53.6%), from -€18,497 to -€8,579
- Accrued charges and deferred income -€6,079
no longer reported in 2025 (was €6,079)
- Debts after one year -€5,688
down €5,688 (-35.8%), from €15,903 to €10,215
- Gross operating margin +€19,783
up €19,783, from -€1,396 to €18,387
- Taxes +€373
new in 2025: €373
- Financial charges -€315
down €315 (-22.1%), from €1,425 to €1,110
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 | €69,932 | €66,613 | -€3,319 | -4.7% |
| Fixed assets | 21/28 | €20,645 | €17,477 | -€3,168 | -15.3% |
| Tangible fixed assets | 22/27 | €20,395 | €17,227 | -€3,168 | -15.5% |
| Plant, machinery and equipment | 23 | €235 | €2,667 | +€2,432 | +1,035% |
| Furniture and vehicles | 24 | €20,160 | €14,560 | -€5,600 | -27.8% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €49,287 | €49,136 | -€151 | -0.3% |
| Stocks and contracts in progress | 3 | €15,000 | €21,500 | +€6,500 | +43.3% |
| Stocks | 30/36 | €15,000 | €21,500 | +€6,500 | +43.3% |
| Amounts receivable within one year | 40/41 | €25,809 | €11,220 | -€14,588 | -56.5% |
| Trade receivables | 40 | €25,809 | €7,593 | -€18,215 | -70.6% |
| Other amounts receivable | 41 | - | €3,627 | +€3,627 | |
| Cash at bank and in hand | 54/58 | €8,012 | €15,932 | +€7,920 | +98.8% |
| Deferred charges and accrued income | 490/1 | €466 | €483 | +€18 | +3.8% |
| Total equity and liabilities | 10/49 | €69,932 | €66,613 | -€3,319 | -4.7% |
| Equity | 10/15 | €14,955 | €24,872 | +€9,918 | +66.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €29,452 | €29,452 | = | 0.0% |
| Distributable reserves | 133 | €29,452 | €29,452 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,497 | -€8,579 | +€9,918 | +53.6% |
| Amounts payable | 17/49 | €54,978 | €41,741 | -€13,236 | -24.1% |
| Amounts payable after more than one year | 17 | €15,903 | €10,215 | -€5,688 | -35.8% |
| Financial debts | 170/4 | €15,903 | €10,215 | -€5,688 | -35.8% |
| Amounts payable within one year | 42/48 | €32,996 | €31,526 | -€1,470 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €5,378 | €5,688 | +€309 | +5.8% |
| Trade debts | 44 | €26,837 | €10,086 | -€16,751 | -62.4% |
| Suppliers | 440/4 | €26,837 | €10,086 | -€16,751 | -62.4% |
| Advances received on contracts in progress | 46 | - | €1,826 | +€1,826 | |
| Taxes, remuneration and social security | 45 | €780 | €1,248 | +€468 | +60.0% |
| Taxes | 450/3 | €780 | €1,248 | +€468 | +60.0% |
| Other amounts payable | 47/48 | - | €12,678 | +€12,678 | |
| Accrued charges and deferred income | 492/3 | €6,079 | - | -€6,079 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,330 | €6,468 | +€138 | +2.2% |
| Other operating charges | 640/8 | €505 | €640 | +€134 | +26.6% |
| Gross operating margin | 9900 | -€1,396 | €18,387 | +€19,783 | |
| Operating profit (loss) | 9901 | -€8,232 | €11,279 | +€19,511 | |
| Financial income | 75/76B | €0 | €121 | +€121 | +121,120% |
| Recurring financial income | 75 | €0 | €121 | +€121 | +121,120% |
| Financial charges | 65/66B | €1,425 | €1,110 | -€315 | -22.1% |
| Recurring financial charges | 65 | €1,425 | €1,110 | -€315 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,657 | €10,290 | +€19,948 | |
| Income taxes | 67/77 | - | €373 | +€373 | |
| Profit (loss) for the period | 9904 | -€9,657 | €9,918 | +€19,575 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,657 | €9,918 | +€19,575 |
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 1 November 2026 via checked.be.