SVR Management: 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.
SVR Management
Largest movements
- Tangible fixed assets -€40,709
down €40,709 (-8.1%), from €505,042 to €464,332
of which Land and buildings: -€39,051
- Receivables within one year -€23,041
down €23,041 (-7.2%), from €317,854 to €294,813
of which Trade receivables: -€53,709
- Cash +€15,130
up €15,130 (+45.6%), from €33,145 to €48,274
mainly Net result for the year (+€96,786) and Trade debts (+€45,309)
- Other debts -€222,998
down €222,998 (-27.8%), from €803,152 to €580,154
- Reserves +€96,786
up €96,786 (+277%), from €34,897 to €131,683
- Trade debts +€45,309
up €45,309 (+144%), from €31,370 to €76,679
- Tax, wage and social debts +€31,989
up €31,989 (+111%), from €28,934 to €60,923
of which Taxes: +€31,919
- Gross operating margin +€112,267
up €112,267 (+108%), from €103,525 to €215,792
- Taxes +€41,316
up €41,316 (+325%), from €12,718 to €54,033
- Depreciation -€3,353
down €3,353 (-7.5%), from €44,918 to €41,565
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 | €918,353 | €869,439 | -€48,913 | -5.3% |
| Fixed assets | 21/28 | €505,081 | €464,371 | -€40,709 | -8.1% |
| Tangible fixed assets | 22/27 | €505,042 | €464,332 | -€40,709 | -8.1% |
| Land and buildings | 22 | €498,853 | €459,801 | -€39,051 | -7.8% |
| Furniture and vehicles | 24 | €6,189 | €4,531 | -€1,658 | -26.8% |
| Financial fixed assets | 28 | €39 | €39 | = | 0.0% |
| Current assets | 29/58 | €413,272 | €405,068 | -€8,204 | -2.0% |
| Amounts receivable within one year | 40/41 | €317,854 | €294,813 | -€23,041 | -7.2% |
| Trade receivables | 40 | €67,393 | €13,684 | -€53,709 | -79.7% |
| Other amounts receivable | 41 | €250,462 | €281,130 | +€30,668 | +12.2% |
| Current investments | 50/53 | €61,595 | €61,595 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €33,145 | €48,274 | +€15,130 | +45.6% |
| Deferred charges and accrued income | 490/1 | €679 | €386 | -€293 | -43.2% |
| Total equity and liabilities | 10/49 | €918,353 | €869,439 | -€48,913 | -5.3% |
| Equity | 10/15 | €54,897 | €151,683 | +€96,786 | +176% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €34,897 | €131,683 | +€96,786 | +277% |
| Distributable reserves | 133 | €34,897 | €131,683 | +€96,786 | +277% |
| Amounts payable | 17/49 | €863,455 | €717,756 | -€145,700 | -16.9% |
| Amounts payable within one year | 42/48 | €863,455 | €717,756 | -€145,700 | -16.9% |
| Trade debts | 44 | €31,370 | €76,679 | +€45,309 | +144% |
| Suppliers | 440/4 | €31,370 | €76,679 | +€45,309 | +144% |
| Taxes, remuneration and social security | 45 | €28,934 | €60,923 | +€31,989 | +111% |
| Taxes | 450/3 | €28,163 | €60,081 | +€31,919 | +113% |
| Remuneration and social security | 454/9 | €771 | €841 | +€70 | +9.1% |
| Other amounts payable | 47/48 | €803,152 | €580,154 | -€222,998 | -27.8% |
| Remuneration, social security and pensions | 62 | €20,325 | €20,057 | -€269 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,918 | €41,565 | -€3,353 | -7.5% |
| Other operating charges | 640/8 | €1,460 | €2,366 | +€906 | +62.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €103,525 | €215,792 | +€112,267 | +108% |
| Operating profit (loss) | 9901 | €36,821 | €151,804 | +€114,983 | +312% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €850 | €984 | +€134 | +15.8% |
| Recurring financial charges | 65 | €850 | €984 | +€134 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €35,971 | €150,820 | +€114,849 | +319% |
| Income taxes | 67/77 | €12,718 | €54,033 | +€41,316 | +325% |
| Profit (loss) for the period | 9904 | €23,253 | €96,786 | +€73,533 | +316% |
| Profit (loss) for the period to be appropriated | 9905 | €23,253 | €96,786 | +€73,533 | +316% |
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 25 October 2026 via checked.be.