SVNRS: 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.
SVNRS
Largest movements
- Stocks and contracts +€76,698
up €76,698 (+28.4%), from €270,017 to €346,715
- Tangible fixed assets +€54,160
up €54,160 (+7.7%), from €707,048 to €761,207
of which Furniture and vehicles: +€64,258
- Cash -€53,668
down €53,668 (-49.6%), from €108,175 to €54,507
mainly Investment in fixed assets (net) (-€83,248) and Stocks and contracts (-€76,698)
- Receivables within one year -€37,997
down €37,997 (-16.5%), from €229,655 to €191,658
of which Other amounts receivable: -€41,862
- Financial fixed assets +€15,000
new in 2025: €15,000
- Trade debts +€115,392
up €115,392 (+39.0%), from €295,973 to €411,365
- Other debts -€52,609
down €52,609 (-18.0%), from €291,789 to €239,179
- Reserves +€35,900
up €35,900 (+28.3%), from €126,700 to €162,600
- Tax, wage and social debts -€33,856
down €33,856 (-31.0%), from €109,374 to €75,517
of which Taxes: -€40,752
- Debts after one year -€17,573
down €17,573 (-3.7%), from €475,091 to €457,519
- Gross operating margin +€131,420
up €131,420 (+127.6%), from €102,994 to €234,414
- Staff costs +€94,418
up €94,418 (+506.4%), from €18,643 to €113,062
- Other operating charges -€18,199
down €18,199 (-59.5%), from €30,608 to €12,408
- Financial charges +€15,116
up €15,116 (+53.9%), from €28,049 to €43,166
- Depreciation +€10,786
up €10,786 (+326.7%), from €3,302 to €14,088
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 | €1,317,799 | €1,371,585 | +€53,785 | +4.1% |
| Fixed assets | 21/28 | €707,048 | €776,207 | +€69,160 | +9.8% |
| Tangible fixed assets | 22/27 | €707,048 | €761,207 | +€54,160 | +7.7% |
| Land and buildings | 22 | €702,522 | €692,904 | -€9,619 | -1.4% |
| Plant, machinery and equipment | 23 | €4,525 | €4,046 | -€479 | -10.6% |
| Furniture and vehicles | 24 | - | €64,258 | +€64,258 | |
| Financial fixed assets | 28 | - | €15,000 | +€15,000 | |
| Current assets | 29/58 | €610,752 | €595,377 | -€15,375 | -2.5% |
| Stocks and contracts in progress | 3 | €270,017 | €346,715 | +€76,698 | +28.4% |
| Stocks | 30/36 | €270,017 | €346,715 | +€76,698 | +28.4% |
| Amounts receivable within one year | 40/41 | €229,655 | €191,658 | -€37,997 | -16.5% |
| Trade receivables | 40 | €152,986 | €156,851 | +€3,865 | +2.5% |
| Other amounts receivable | 41 | €76,669 | €34,807 | -€41,862 | -54.6% |
| Cash at bank and in hand | 54/58 | €108,175 | €54,507 | -€53,668 | -49.6% |
| Deferred charges and accrued income | 490/1 | €2,905 | €2,497 | -€408 | -14.0% |
| Total equity and liabilities | 10/49 | €1,317,799 | €1,371,585 | +€53,785 | +4.1% |
| Equity | 10/15 | €128,286 | €164,174 | +€35,889 | +28.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €126,700 | €162,600 | +€35,900 | +28.3% |
| Distributable reserves | 133 | €126,700 | €162,600 | +€35,900 | +28.3% |
| Profit (loss) carried forward | 14 | €86 | €74 | -€11 | -13.3% |
| Amounts payable | 17/49 | €1,189,514 | €1,207,410 | +€17,897 | +1.5% |
| Amounts payable after more than one year | 17 | €475,091 | €457,519 | -€17,573 | -3.7% |
| Financial debts | 170/4 | €475,091 | €457,519 | -€17,573 | -3.7% |
| Amounts payable within one year | 42/48 | €714,422 | €749,892 | +€35,469 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €17,288 | €17,573 | +€285 | +1.6% |
| Trade debts | 44 | €295,973 | €411,365 | +€115,392 | +39.0% |
| Suppliers | 440/4 | €295,973 | €411,365 | +€115,392 | +39.0% |
| Advances received on contracts in progress | 46 | - | €6,258 | +€6,258 | |
| Taxes, remuneration and social security | 45 | €109,374 | €75,517 | -€33,856 | -31.0% |
| Taxes | 450/3 | €94,129 | €53,378 | -€40,752 | -43.3% |
| Remuneration and social security | 454/9 | €15,244 | €22,140 | +€6,896 | +45.2% |
| Other amounts payable | 47/48 | €291,789 | €239,179 | -€52,609 | -18.0% |
| Remuneration, social security and pensions | 62 | €18,643 | €113,062 | +€94,418 | +506.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,302 | €14,088 | +€10,786 | +326.7% |
| Other operating charges | 640/8 | €30,608 | €12,408 | -€18,199 | -59.5% |
| Gross operating margin | 9900 | €102,994 | €234,414 | +€131,420 | +127.6% |
| Operating profit (loss) | 9901 | €50,441 | €94,855 | +€44,414 | +88.1% |
| Financial income | 75/76B | €244 | €91 | -€153 | -62.8% |
| Recurring financial income | 75 | €244 | €91 | -€153 | -62.8% |
| Financial charges | 65/66B | €28,049 | €43,166 | +€15,116 | +53.9% |
| Recurring financial charges | 65 | €28,049 | €43,166 | +€15,116 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €22,636 | €51,781 | +€29,145 | +128.8% |
| Income taxes | 67/77 | €8,687 | €15,892 | +€7,206 | +82.9% |
| Profit (loss) for the period | 9904 | €13,949 | €35,889 | +€21,939 | +157.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,949 | €35,889 | +€21,939 | +157.3% |
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 9 October 2026 via checked.be.