SVMH: 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.
SVMH
Largest movements
- Stocks and contracts +€2.1m
up €2.1m (+429%), from €496,375 to €2.6m
- Cash -€322,179
down €322,179 (-88.9%), from €362,233 to €40,054
mainly Stocks and contracts (-€2.1m) and Tax, wage and social debts (-€259,477)
- Tangible fixed assets -€81,443
down €81,443 (-8.3%), from €979,224 to €897,782
of which Land and buildings: -€65,329
- Short-term financial debts +€2.0m
up €2.0m (+494%), from €400,000 to €2.4m
- Tax, wage and social debts -€259,477
down €259,477 (-95.0%), from €273,275 to €13,798
of which Taxes: -€248,997
- Debts after one year -€44,035
down €44,035 (-7.1%), from €624,209 to €580,173
of which Financial debts: -€44,031
- Gross operating margin -€33,221
down €33,221 (-20.4%), from €162,936 to €129,715
- Financial charges -€24,139
down €24,139 (-36.5%), from €66,218 to €42,080
- Staff costs +€21,991
new in 2025: €21,991
- Taxes -€4,299
down €4,299 (-67.0%), from €6,415 to €2,116
- Other operating charges +€1,765
up €1,765 (+70.5%), from €2,502 to €4,267
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 | €1,895,465 | €3,618,353 | +€1.7m | +90.9% |
| Fixed assets | 21/28 | €1,016,394 | €940,851 | -€75,543 | -7.4% |
| Intangible fixed assets | 21 | €7,098 | €12,998 | +€5,900 | +83.1% |
| Tangible fixed assets | 22/27 | €979,224 | €897,782 | -€81,443 | -8.3% |
| Land and buildings | 22 | €950,070 | €884,741 | -€65,329 | -6.9% |
| Furniture and vehicles | 24 | €29,155 | €13,041 | -€16,114 | -55.3% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €30,072 | €30,072 | = | 0.0% |
| Current assets | 29/58 | €879,071 | €2,677,501 | +€1.8m | +205% |
| Stocks and contracts in progress | 3 | €496,375 | €2,627,723 | +€2.1m | +429% |
| Stocks | 30/36 | €496,375 | €2,627,723 | +€2.1m | +429% |
| Amounts receivable within one year | 40/41 | €17,919 | €9,248 | -€8,671 | -48.4% |
| Trade receivables | 40 | €17,671 | €1,201 | -€16,469 | -93.2% |
| Other amounts receivable | 41 | €249 | €8,046 | +€7,798 | +3,137% |
| Cash at bank and in hand | 54/58 | €362,233 | €40,054 | -€322,179 | -88.9% |
| Deferred charges and accrued income | 490/1 | €2,544 | €476 | -€2,068 | -81.3% |
| Total equity and liabilities | 10/49 | €1,895,465 | €3,618,353 | +€1.7m | +90.9% |
| Equity | 10/15 | €470,276 | €443,910 | -€26,366 | -5.6% |
| Contributions | 10/11 | €16,500 | €16,500 | = | 0.0% |
| Revaluation surpluses | 12 | €241,827 | €225,705 | -€16,122 | -6.7% |
| Reserves | 13 | €82,469 | €98,591 | +€16,122 | +19.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €80,609 | €96,731 | +€16,122 | +20.0% |
| Profit (loss) carried forward | 14 | €129,480 | €103,114 | -€26,366 | -20.4% |
| Amounts payable | 17/49 | €1,425,189 | €3,174,443 | +€1.7m | +123% |
| Amounts payable after more than one year | 17 | €624,209 | €580,173 | -€44,035 | -7.1% |
| Financial debts | 170/4 | €619,709 | €575,677 | -€44,031 | -7.1% |
| Other amounts payable | 178/9 | €4,500 | €4,496 | -€4 | -0.1% |
| Amounts payable within one year | 42/48 | €800,980 | €2,594,269 | +€1.8m | +224% |
| Current portion of amounts payable after more than one year | 42 | €46,518 | €44,031 | -€2,487 | -5.3% |
| Financial debts | 43 | €400,000 | €2,375,000 | +€2.0m | +494% |
| Credit institutions | 430/8 | €400,000 | €2,375,000 | +€2.0m | +494% |
| Trade debts | 44 | €72,957 | €108,624 | +€35,667 | +48.9% |
| Suppliers | 440/4 | €72,957 | €108,624 | +€35,667 | +48.9% |
| Advances received on contracts in progress | 46 | - | €16,380 | +€16,380 | |
| Taxes, remuneration and social security | 45 | €273,275 | €13,798 | -€259,477 | -95.0% |
| Taxes | 450/3 | €262,775 | €13,778 | -€248,997 | -94.8% |
| Remuneration and social security | 454/9 | €10,500 | €20 | -€10,480 | -99.8% |
| Other amounts payable | 47/48 | €8,230 | €36,436 | +€28,206 | +343% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,394 | €12,273 | +€10,880 | +781% |
| Remuneration, social security and pensions | 62 | - | €21,991 | +€21,991 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,133 | €80,421 | +€288 | +0.4% |
| Other operating charges | 640/8 | €2,502 | €4,267 | +€1,765 | +70.5% |
| Non-recurring operating charges | 66A | €3,221 | €6,981 | +€3,760 | +117% |
| Gross operating margin | 9900 | €162,936 | €129,715 | -€33,221 | -20.4% |
| Operating profit (loss) | 9901 | €77,079 | €16,054 | -€61,025 | -79.2% |
| Financial income | 75/76B | €287 | €1,776 | +€1,489 | +519% |
| Recurring financial income | 75 | €287 | €263 | -€24 | -8.3% |
| Non-recurring financial income | 76B | - | €1,513 | +€1,513 | |
| Financial charges | 65/66B | €66,218 | €42,080 | -€24,139 | -36.5% |
| Recurring financial charges | 65 | €66,218 | €42,080 | -€24,139 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €11,148 | -€24,250 | -€35,398 | |
| Income taxes | 67/77 | €6,415 | €2,116 | -€4,299 | -67.0% |
| Profit (loss) for the period | 9904 | €4,733 | -€26,366 | -€31,099 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,733 | -€26,366 | -€31,099 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.