SVO Projects: 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 Projects
Largest movements
- Receivables within one year +€8,809
up €8,809 (+78.4%), from €11,229 to €20,038
of which Trade receivables: +€6,890
- Cash -€3,775
down €3,775 (-25.8%), from €14,647 to €10,872
mainly Receivables within one year (-€8,809) and Investment in fixed assets (net) (-€3,985)
- Tangible fixed assets +€1,152
up €1,152 (+10.7%), from €10,745 to €11,897
of which Plant, machinery and equipment: +€3,467
- Deferred charges and accrued income +€937
up €937 (+78.2%), from €1,198 to €2,134
- Profit (loss) carried forward +€8,598
up €8,598 (+112%), from €7,691 to €16,289
- Other debts -€995
down €995 (-6.0%), from €16,602 to €15,606
- Current portion of long-term debt -€577
down €577 (-100%), from €577 to €0
- Gross operating margin -€5,138
down €5,138 (-22.6%), from €22,775 to €17,637
- Taxes +€953
up €953 (+28.0%), from €3,398 to €4,351
- Depreciation +€697
up €697 (+32.6%), from €2,136 to €2,833
- Other operating charges -€506
down €506 (-40.4%), from €1,251 to €745
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 | €42,644 | €49,877 | +€7,232 | +17.0% |
| Fixed assets | 21/28 | €10,745 | €11,897 | +€1,152 | +10.7% |
| Tangible fixed assets | 22/27 | €10,745 | €11,897 | +€1,152 | +10.7% |
| Land and buildings | 22 | €6,914 | €5,975 | -€939 | -13.6% |
| Plant, machinery and equipment | 23 | €110 | €3,577 | +€3,467 | +3,157% |
| Furniture and vehicles | 24 | €3,721 | €2,345 | -€1,377 | -37.0% |
| Current assets | 29/58 | €31,900 | €37,980 | +€6,080 | +19.1% |
| Stocks and contracts in progress | 3 | €4,825 | €4,935 | +€110 | +2.3% |
| Stocks | 30/36 | €4,825 | €4,935 | +€110 | +2.3% |
| Amounts receivable within one year | 40/41 | €11,229 | €20,038 | +€8,809 | +78.4% |
| Trade receivables | 40 | €7,588 | €14,478 | +€6,890 | +90.8% |
| Other amounts receivable | 41 | €3,641 | €5,560 | +€1,919 | +52.7% |
| Cash at bank and in hand | 54/58 | €14,647 | €10,872 | -€3,775 | -25.8% |
| Deferred charges and accrued income | 490/1 | €1,198 | €2,134 | +€937 | +78.2% |
| Total equity and liabilities | 10/49 | €42,644 | €49,877 | +€7,232 | +17.0% |
| Equity | 10/15 | €15,746 | €24,344 | +€8,598 | +54.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,691 | €16,289 | +€8,598 | +112% |
| Amounts payable | 17/49 | €26,898 | €25,533 | -€1,365 | -5.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €26,898 | €25,533 | -€1,365 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €577 | €0 | -€577 | -100% |
| Trade debts | 44 | €9,720 | €9,927 | +€207 | +2.1% |
| Suppliers | 440/4 | €9,720 | €9,927 | +€207 | +2.1% |
| Other amounts payable | 47/48 | €16,602 | €15,606 | -€995 | -6.0% |
| Non-recurring operating income | 76A | €4,757 | €0 | -€4,757 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,136 | €2,833 | +€697 | +32.6% |
| Other operating charges | 640/8 | €1,251 | €745 | -€506 | -40.4% |
| Gross operating margin | 9900 | €22,775 | €17,637 | -€5,138 | -22.6% |
| Operating profit (loss) | 9901 | €19,388 | €14,059 | -€5,330 | -27.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €901 | €1,110 | +€209 | +23.2% |
| Recurring financial charges | 65 | €901 | €1,110 | +€209 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €18,488 | €12,948 | -€5,539 | -30.0% |
| Income taxes | 67/77 | €3,398 | €4,351 | +€953 | +28.0% |
| Profit (loss) for the period | 9904 | €15,090 | €8,598 | -€6,492 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,090 | €8,598 | -€6,492 | -43.0% |
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 14 October 2026 via checked.be.