SVO: 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.
SVO
Largest movements
- Cash +€10,702
up €10,702 (+276%), from €3,872 to €14,574
mainly Net result for the year (+€18,591) and Depreciation (+€12,936)
- Tangible fixed assets -€10,259
down €10,259 (-18.3%), from €55,927 to €45,668
of which Furniture and vehicles: -€8,000
- Receivables within one year +€2,355
up €2,355 (+32.4%), from €7,280 to €9,635
of which Trade receivables: +€1,320
- Reserves +€18,591
up €18,591 (+272%), from €6,844 to €25,435
- Short-term financial debts -€17,422
no longer reported in 2025 (was €17,422)
- Debts after one year -€10,820
down €10,820 (-48.5%), from €22,319 to €11,499
- Current portion of long-term debt +€10,820
new in 2025: €10,820
- Other debts -€6,649
down €6,649 (-53.4%), from €12,450 to €5,801
- Gross operating margin +€18,141
up €18,141 (+93.9%), from €19,315 to €37,456
- Depreciation +€5,855
up €5,855 (+82.7%), from €7,081 to €12,936
- Taxes +€585
up €585 (+16.6%), from €3,522 to €4,107
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 | €67,346 | €70,014 | +€2,668 | +4.0% |
| Fixed assets | 21/28 | €55,927 | €45,668 | -€10,259 | -18.3% |
| Tangible fixed assets | 22/27 | €55,927 | €45,668 | -€10,259 | -18.3% |
| Plant, machinery and equipment | 23 | €22,441 | €20,182 | -€2,259 | -10.1% |
| Furniture and vehicles | 24 | €33,486 | €25,486 | -€8,000 | -23.9% |
| Current assets | 29/58 | €11,420 | €24,346 | +€12,926 | +113% |
| Amounts receivable within one year | 40/41 | €7,280 | €9,635 | +€2,355 | +32.4% |
| Trade receivables | 40 | €7,187 | €8,507 | +€1,320 | +18.4% |
| Other amounts receivable | 41 | €93 | €1,129 | +€1,036 | +1,112% |
| Cash at bank and in hand | 54/58 | €3,872 | €14,574 | +€10,702 | +276% |
| Deferred charges and accrued income | 490/1 | €267 | €136 | -€131 | -49.1% |
| Total equity and liabilities | 10/49 | €67,346 | €70,014 | +€2,668 | +4.0% |
| Equity | 10/15 | €9,844 | €28,435 | +€18,591 | +189% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €6,844 | €25,435 | +€18,591 | +272% |
| Distributable reserves | 133 | €6,844 | €25,435 | +€18,591 | +272% |
| Amounts payable | 17/49 | €57,503 | €41,579 | -€15,924 | -27.7% |
| Amounts payable after more than one year | 17 | €22,319 | €11,499 | -€10,820 | -48.5% |
| Financial debts | 170/4 | €22,319 | €11,499 | -€10,820 | -48.5% |
| Amounts payable within one year | 42/48 | €35,184 | €30,080 | -€5,104 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | - | €10,820 | +€10,820 | |
| Financial debts | 43 | €17,422 | - | -€17,422 | |
| Credit institutions | 430/8 | €17,422 | - | -€17,422 | |
| Trade debts | 44 | €1,618 | €3,966 | +€2,348 | +145% |
| Suppliers | 440/4 | €1,618 | €3,966 | +€2,348 | +145% |
| Taxes, remuneration and social security | 45 | €3,693 | €9,493 | +€5,801 | +157% |
| Taxes | 450/3 | €3,693 | €8,148 | +€4,455 | +121% |
| Remuneration and social security | 454/9 | - | €1,346 | +€1,346 | |
| Other amounts payable | 47/48 | €12,450 | €5,801 | -€6,649 | -53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,081 | €12,936 | +€5,855 | +82.7% |
| Other operating charges | 640/8 | €298 | €276 | -€23 | -7.6% |
| Gross operating margin | 9900 | €19,315 | €37,456 | +€18,141 | +93.9% |
| Operating profit (loss) | 9901 | €11,936 | €24,244 | +€12,309 | +103% |
| Financial income | 75/76B | €1 | €0 | -€1 | -92.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -92.6% |
| Financial charges | 65/66B | €1,571 | €1,546 | -€25 | -1.6% |
| Recurring financial charges | 65 | €1,571 | €1,546 | -€25 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €10,365 | €22,698 | +€12,333 | +119% |
| Income taxes | 67/77 | €3,522 | €4,107 | +€585 | +16.6% |
| Profit (loss) for the period | 9904 | €6,844 | €18,591 | +€11,747 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €6,844 | €18,591 | +€11,747 | +172% |
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.