SVSD: 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.
SVSD
Largest movements
- Tangible fixed assets +€3,669
up €3,669 (+73.6%), from €4,982 to €8,652
of which Other tangible fixed assets: +€5,914
- Cash +€2,411
up €2,411 (+30.3%), from €7,959 to €10,370
mainly Net result for the year (+€6,881) and Depreciation (+€2,391)
- Deferred charges and accrued income +€880
up €880 (+21.7%), from €4,050 to €4,930
- Profit (loss) carried forward +€6,881
up €6,881 (+367%), from €1,876 to €8,757
- Other debts +€633
up €633 (+25.4%), from €2,495 to €3,128
- Trade debts -€510
down €510 (-6.8%), from €7,529 to €7,020
- Gross operating margin +€7,729
up €7,729 (+126%), from €6,154 to €13,883
- Financial charges +€1,339
up €1,339 (+334%), from €401 to €1,740
- Taxes +€996
up €996 (+77.2%), from €1,289 to €2,285
- Depreciation +€545
up €545 (+29.5%), from €1,846 to €2,391
- Other operating charges -€157
down €157 (-21.1%), from €743 to €586
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 | €28,766 | €36,043 | +€7,278 | +25.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €4,982 | €8,652 | +€3,669 | +73.6% |
| Tangible fixed assets | 22/27 | €4,982 | €8,652 | +€3,669 | +73.6% |
| Furniture and vehicles | 24 | €4,982 | €2,738 | -€2,245 | -45.1% |
| Other tangible fixed assets | 26 | - | €5,914 | +€5,914 | |
| Current assets | 29/58 | €23,783 | €27,392 | +€3,609 | +15.2% |
| Amounts receivable within one year | 40/41 | €11,774 | €12,092 | +€317 | +2.7% |
| Trade receivables | 40 | €10,064 | €9,666 | -€398 | -4.0% |
| Other amounts receivable | 41 | €1,711 | €2,426 | +€715 | +41.8% |
| Cash at bank and in hand | 54/58 | €7,959 | €10,370 | +€2,411 | +30.3% |
| Deferred charges and accrued income | 490/1 | €4,050 | €4,930 | +€880 | +21.7% |
| Total equity and liabilities | 10/49 | €28,766 | €36,043 | +€7,278 | +25.3% |
| Equity | 10/15 | €17,336 | €24,217 | +€6,881 | +39.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €12,460 | €12,460 | = | 0.0% |
| Distributable reserves | 133 | €12,460 | €12,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,876 | €8,757 | +€6,881 | +367% |
| Amounts payable | 17/49 | €11,429 | €11,826 | +€397 | +3.5% |
| Amounts payable within one year | 42/48 | €11,429 | €11,826 | +€397 | +3.5% |
| Trade debts | 44 | €7,529 | €7,020 | -€510 | -6.8% |
| Suppliers | 440/4 | €7,529 | €7,020 | -€510 | -6.8% |
| Taxes, remuneration and social security | 45 | €1,405 | €1,678 | +€273 | +19.4% |
| Taxes | 450/3 | €1,405 | €1,678 | +€273 | +19.4% |
| Other amounts payable | 47/48 | €2,495 | €3,128 | +€633 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,846 | €2,391 | +€545 | +29.5% |
| Other operating charges | 640/8 | €743 | €586 | -€157 | -21.1% |
| Gross operating margin | 9900 | €6,154 | €13,883 | +€7,729 | +126% |
| Operating profit (loss) | 9901 | €3,565 | €10,906 | +€7,341 | +206% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.0% |
| Financial charges | 65/66B | €401 | €1,740 | +€1,339 | +334% |
| Recurring financial charges | 65 | €401 | €1,740 | +€1,339 | +334% |
| Profit (loss) for the period before taxes | 9903 | €3,165 | €9,166 | +€6,001 | +190% |
| Income taxes | 67/77 | €1,289 | €2,285 | +€996 | +77.2% |
| Profit (loss) for the period | 9904 | €1,876 | €6,881 | +€5,006 | +267% |
| Profit (loss) for the period to be appropriated | 9905 | €1,876 | €6,881 | +€5,006 | +267% |
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 26 October 2026 via checked.be.