SVPROJECTS: 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.
SVPROJECTS
Largest movements
- Cash -€102,426
down €102,426 (-99.6%), from €102,824 to €398
mainly Other debts (-€162,360) and Debts after one year (-€42,491)
- Receivables within one year -€58,379
down €58,379 (-65.4%), from €89,218 to €30,840
of which Trade receivables: -€58,379
- Tangible fixed assets -€19,447
down €19,447 (-2.1%), from €918,384 to €898,937
of which Furniture and vehicles: -€11,479
- Other debts -€162,360
down €162,360 (-82.3%), from €197,195 to €34,834
- Debts after one year -€42,491
down €42,491 (-7.3%), from €584,687 to €542,196
of which Financial debts: -€38,996
- Trade debts +€17,384
up €17,384 (+129.3%), from €13,445 to €30,829
- Gross operating margin -€97,623
down €97,623 (-53.0%), from €184,247 to €86,624
- Depreciation -€47,994
down €47,994 (-55.6%), from €86,253 to €38,259
- Financial charges +€5,165
up €5,165 (+19.5%), from €26,428 to €31,594
- Write-downs +€2,625
new in 2025: €2,625
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 | €1,116,524 | €936,439 | -€180,085 | -16.1% |
| Fixed assets | 21/28 | €918,384 | €898,937 | -€19,447 | -2.1% |
| Tangible fixed assets | 22/27 | €918,384 | €898,937 | -€19,447 | -2.1% |
| Land and buildings | 22 | €895,335 | €887,367 | -€7,968 | -0.9% |
| Furniture and vehicles | 24 | €23,049 | €11,569 | -€11,479 | -49.8% |
| Current assets | 29/58 | €198,140 | €37,502 | -€160,638 | -81.1% |
| Stocks and contracts in progress | 3 | €4,489 | €4,489 | = | 0.0% |
| Stocks | 30/36 | €4,489 | €4,489 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €89,218 | €30,840 | -€58,379 | -65.4% |
| Trade receivables | 40 | €88,885 | €30,506 | -€58,379 | -65.7% |
| Other amounts receivable | 41 | €334 | €334 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €102,824 | €398 | -€102,426 | -99.6% |
| Deferred charges and accrued income | 490/1 | €1,610 | €1,776 | +€166 | +10.3% |
| Total equity and liabilities | 10/49 | €1,116,524 | €936,439 | -€180,085 | -16.1% |
| Equity | 10/15 | €136,146 | €138,547 | +€2,402 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,030 | €141,573 | -€3,457 | -2.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €108,352 | €104,895 | -€3,457 | -3.2% |
| Distributable reserves | 133 | €34,818 | €34,818 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,484 | -€21,625 | +€5,859 | +21.3% |
| Provisions and deferred taxes | 16 | €27,088 | €26,224 | -€864 | -3.2% |
| Deferred taxes | 168 | €27,088 | €26,224 | -€864 | -3.2% |
| Amounts payable | 17/49 | €953,291 | €771,668 | -€181,622 | -19.1% |
| Amounts payable after more than one year | 17 | €584,687 | €542,196 | -€42,491 | -7.3% |
| Financial debts | 170/4 | €576,367 | €537,371 | -€38,996 | -6.8% |
| Other amounts payable | 178/9 | €8,320 | €4,825 | -€3,495 | -42.0% |
| Amounts payable within one year | 42/48 | €367,987 | €226,539 | -€141,448 | -38.4% |
| Current portion of amounts payable after more than one year | 42 | €42,493 | €39,944 | -€2,549 | -6.0% |
| Financial debts | 43 | €97,000 | €97,000 | = | 0.0% |
| Credit institutions | 430/8 | €97,000 | €97,000 | = | 0.0% |
| Trade debts | 44 | €13,445 | €30,829 | +€17,384 | +129.3% |
| Suppliers | 440/4 | €13,445 | €30,829 | +€17,384 | +129.3% |
| Taxes, remuneration and social security | 45 | €17,855 | €23,931 | +€6,076 | +34.0% |
| Taxes | 450/3 | €17,855 | €23,931 | +€6,076 | +34.0% |
| Other amounts payable | 47/48 | €197,195 | €34,834 | -€162,360 | -82.3% |
| Accrued charges and deferred income | 492/3 | €617 | €2,934 | +€2,317 | +375.8% |
| Non-recurring operating income | 76A | €108,867 | - | -€108,867 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,253 | €38,259 | -€47,994 | -55.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,625 | +€2,625 | |
| Other operating charges | 640/8 | €11,553 | €12,059 | +€507 | +4.4% |
| Gross operating margin | 9900 | €184,247 | €86,624 | -€97,623 | -53.0% |
| Operating profit (loss) | 9901 | €86,442 | €33,681 | -€52,761 | -61.0% |
| Financial income | 75/76B | €0 | €1 | +€1 | +322.2% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +322.2% |
| Financial charges | 65/66B | €26,428 | €31,594 | +€5,165 | +19.5% |
| Recurring financial charges | 65 | €26,428 | €31,594 | +€5,165 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | €60,014 | €2,088 | -€57,926 | -96.5% |
| Transfer from deferred taxes | 780 | €864 | €864 | = | 0.0% |
| Transfer to deferred taxes | 680 | €21,773 | - | -€21,773 | |
| Income taxes | 67/77 | €1,305 | €551 | -€754 | -57.8% |
| Profit (loss) for the period | 9904 | €37,800 | €2,402 | -€35,398 | -93.6% |
| Transfer from tax-exempt reserves | 789 | €3,457 | €3,457 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €87,094 | - | -€87,094 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,836 | €5,859 | +€51,695 |
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 10 October 2026 via checked.be.