SVRD: 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.
SVRD
Largest movements
- Cash -€59,178
down €59,178 (-99.7%), from €59,358 to €180
mainly Contributions, distributions and other (-€78,849) and Receivables within one year (-€5,974)
- Receivables within one year +€5,974
up €5,974 (+54.0%), from €11,057 to €17,031
of which Trade receivables: +€13,508
- Tangible fixed assets -€3,533
down €3,533 (-93.0%), from €3,800 to €267
of which Furniture and vehicles: -€3,273
- Reserves -€50,999
no longer reported in 2025 (was €50,999)
- Tax, wage and social debts -€4,314
down €4,314 (-28.2%), from €15,320 to €11,007
- Debts after one year -€1,907
down €1,907 (-51.0%), from €3,737 to €1,829
- Gross operating margin +€4,910
up €4,910 (+13.3%), from €37,001 to €41,911
- Taxes +€1,403
up €1,403 (+17.8%), from €7,897 to €9,300
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 | €74,916 | €18,086 | -€56,830 | -75.9% |
| Fixed assets | 21/28 | €3,800 | €267 | -€3,533 | -93.0% |
| Tangible fixed assets | 22/27 | €3,800 | €267 | -€3,533 | -93.0% |
| Plant, machinery and equipment | 23 | €527 | €267 | -€260 | -49.3% |
| Furniture and vehicles | 24 | €3,273 | - | -€3,273 | |
| Current assets | 29/58 | €71,116 | €17,819 | -€53,297 | -74.9% |
| Amounts receivable within one year | 40/41 | €11,057 | €17,031 | +€5,974 | +54.0% |
| Trade receivables | 40 | - | €13,508 | +€13,508 | |
| Other amounts receivable | 41 | €11,057 | €3,523 | -€7,534 | -68.1% |
| Cash at bank and in hand | 54/58 | €59,358 | €180 | -€59,178 | -99.7% |
| Deferred charges and accrued income | 490/1 | €701 | €608 | -€93 | -13.3% |
| Total equity and liabilities | 10/49 | €74,916 | €18,086 | -€56,830 | -75.9% |
| Equity | 10/15 | €52,499 | €1,603 | -€50,895 | -96.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €50,999 | - | -€50,999 | |
| Distributable reserves | 133 | €50,999 | - | -€50,999 | |
| Profit (loss) carried forward | 14 | - | €103 | +€103 | |
| Amounts payable | 17/49 | €22,418 | €16,483 | -€5,935 | -26.5% |
| Amounts payable after more than one year | 17 | €3,737 | €1,829 | -€1,907 | -51.0% |
| Financial debts | 170/4 | €3,737 | €1,829 | -€1,907 | -51.0% |
| Amounts payable within one year | 42/48 | €18,641 | €14,614 | -€4,027 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €1,820 | €1,907 | +€88 | +4.8% |
| Trade debts | 44 | €1,501 | €1,250 | -€252 | -16.8% |
| Suppliers | 440/4 | €1,501 | €1,250 | -€252 | -16.8% |
| Taxes, remuneration and social security | 45 | €15,320 | €11,007 | -€4,314 | -28.2% |
| Taxes | 450/3 | €15,320 | €11,007 | -€4,314 | -28.2% |
| Other amounts payable | 47/48 | - | €450 | +€450 | |
| Accrued charges and deferred income | 492/3 | €40 | €40 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,916 | €3,533 | -€383 | -9.8% |
| Other operating charges | 640/8 | €899 | €765 | -€134 | -14.9% |
| Gross operating margin | 9900 | €37,001 | €41,911 | +€4,910 | +13.3% |
| Operating profit (loss) | 9901 | €32,187 | €37,613 | +€5,427 | +16.9% |
| Financial income | 75/76B | €401 | - | -€401 | |
| Recurring financial income | 75 | €401 | - | -€401 | |
| Financial charges | 65/66B | €465 | €360 | -€105 | -22.6% |
| Recurring financial charges | 65 | €465 | €360 | -€105 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €32,123 | €37,253 | +€5,130 | +16.0% |
| Income taxes | 67/77 | €7,897 | €9,300 | +€1,403 | +17.8% |
| Profit (loss) for the period | 9904 | €24,226 | €27,953 | +€3,727 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,226 | €27,953 | +€3,727 | +15.4% |
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 22 October 2026 via checked.be.