SZIVARVANY: 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.
SZIVARVANY
Largest movements
- Cash +€3.6m
up €3.6m (+592%), from €607,072 to €4.2m
mainly Other debts (+€5.0m) and Net result for the year (+€3.0m)
- Current investments -€2.1m
down €2.1m (-82.0%), from €2.6m to €471,521
- Financial fixed assets +€408,222
up €408,222 (+25.5%), from €1.6m to €2.0m
- Intangible fixed assets +€193,337
up €193,337 (+1,957%), from €9,880 to €203,217
- Other debts +€5.0m
up €5.0m (+9,081%), from €55,220 to €5.1m
- Profit (loss) carried forward -€3.0m
down €3.0m (-63.8%), from €4.6m to €1.7m
- Financial income +€1.0m
up €1.0m (+50.8%), from €2.0m to €3.1m
- Depreciation +€37,100
up €37,100 (+343%), from €10,810 to €47,909
- Gross operating margin +€27,367
up €27,367 (+89.0%), from €30,759 to €58,126
- Financial charges +€20,732
up €20,732, from -€14,565 to €6,168
- Taxes +€4,512
up €4,512 (+45.1%), from €9,998 to €14,510
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 | €4,906,178 | €6,949,696 | +€2.0m | +41.7% |
| Fixed assets | 21/28 | €1,630,015 | €2,243,887 | +€613,872 | +37.7% |
| Intangible fixed assets | 21 | €9,880 | €203,217 | +€193,337 | +1,957% |
| Tangible fixed assets | 22/27 | €20,135 | €32,448 | +€12,313 | +61.2% |
| Furniture and vehicles | 24 | €20,135 | €32,448 | +€12,313 | +61.2% |
| Financial fixed assets | 28 | €1,600,000 | €2,008,222 | +€408,222 | +25.5% |
| Current assets | 29/58 | €3,276,163 | €4,705,809 | +€1.4m | +43.6% |
| Stocks and contracts in progress | 3 | - | €11,000 | +€11,000 | |
| Stocks | 30/36 | - | €11,000 | +€11,000 | |
| Amounts receivable within one year | 40/41 | €55,943 | €20,825 | -€35,118 | -62.8% |
| Trade receivables | 40 | €44,243 | €20,825 | -€23,418 | -52.9% |
| Other amounts receivable | 41 | €11,700 | €0 | -€11,700 | -100% |
| Current investments | 50/53 | €2,613,148 | €471,521 | -€2.1m | -82.0% |
| Cash at bank and in hand | 54/58 | €607,072 | €4,202,463 | +€3.6m | +592% |
| Total equity and liabilities | 10/49 | €4,906,178 | €6,949,696 | +€2.0m | +41.7% |
| Equity | 10/15 | €4,831,911 | €1,865,759 | -€3.0m | -61.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €122,600 | €122,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €116,450 | €116,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,647,811 | €1,681,659 | -€3.0m | -63.8% |
| Amounts payable | 17/49 | €74,268 | €5,083,937 | +€5.0m | +6,745% |
| Amounts payable within one year | 42/48 | €70,220 | €5,078,260 | +€5.0m | +7,132% |
| Trade debts | 44 | €7,768 | €2,427 | -€5,341 | -68.8% |
| Suppliers | 440/4 | €7,768 | €2,427 | -€5,341 | -68.8% |
| Taxes, remuneration and social security | 45 | €7,232 | €5,858 | -€1,374 | -19.0% |
| Taxes | 450/3 | €7,232 | €5,858 | -€1,374 | -19.0% |
| Other amounts payable | 47/48 | €55,220 | €5,069,976 | +€5.0m | +9,081% |
| Accrued charges and deferred income | 492/3 | €4,047 | €5,677 | +€1,630 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,810 | €47,909 | +€37,100 | +343% |
| Other operating charges | 640/8 | €1,208 | €1,148 | -€59 | -4.9% |
| Non-recurring operating charges | 66A | - | €7,000 | +€7,000 | |
| Gross operating margin | 9900 | €30,759 | €58,126 | +€27,367 | +89.0% |
| Operating profit (loss) | 9901 | €18,741 | €2,068 | -€16,673 | -89.0% |
| Financial income | 75/76B | €2,023,632 | €3,052,459 | +€1.0m | +50.8% |
| Recurring financial income | 75 | €2,023,632 | €3,052,459 | +€1.0m | +50.8% |
| Financial charges | 65/66B | -€14,565 | €6,168 | +€20,732 | |
| Recurring financial charges | 65 | -€14,565 | €6,168 | +€20,732 | |
| Profit (loss) for the period before taxes | 9903 | €2,056,938 | €3,048,359 | +€991,420 | +48.2% |
| Income taxes | 67/77 | €9,998 | €14,510 | +€4,512 | +45.1% |
| Profit (loss) for the period | 9904 | €2,046,940 | €3,033,849 | +€986,908 | +48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,046,940 | €3,033,849 | +€986,908 | +48.2% |
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 31 October 2026 via checked.be.