SERVING
ActiveSummary
SERVING is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €56,890 and a net result of €10,278. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2025, abbreviated schema
Equity
€56,890▲ 22.1%
2024 · €46,612
Total assets
€937,976▲ 54.8%
2024 · €605,985
Net result
€10,278▼ 39.0%
2024 · €16,840
Working capital
€591,857▲ 109%
2024 · €282,741
Trend over the years
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result falls in 2025; 2025 is 39% below 2024.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Operating result€10,383
2025
Net result€10,278
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€937,976
2025
Equity€56,890
2025
Debt€881,087
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€591,857
2025
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€60,541--€59,500▲ 1.7%-€27,890▲ 53.1%-€14,839▲ 46.8%€3,178€9,062▲ 185%€16,943▲ 87.0%€10,383▼ 38.7%
Net result-€82,315--€81,223▲ 1.3%-€39,543▲ 51.3%-€26,524▲ 32.9%-€8,509▲ 67.9%€8,969€16,840▲ 87.8%€10,278▼ 39.0%
Equity€176,602-€95,379▼ 46.0%€55,836▼ 41.5%€29,312▼ 47.5%€20,803▼ 29.0%€29,771▲ 43.1%€46,612▲ 56.6%€56,890▲ 22.1%
Total assets€500,644-€421,151▼ 15.9%€349,514▼ 17.0%€323,543▼ 7.4%€354,297▲ 9.5%€607,941▲ 71.6%€605,985▼ 0.3%€937,976▲ 54.8%
Debt€324,042-€325,772▲ 0.5%€293,678▼ 9.9%€294,232▲ 0.2%€333,495▲ 13.3%€578,169▲ 73.4%€559,374▼ 3.3%€881,087▲ 57.5%
Working capital-€3,404--€15,158▼ 345%-€7,493▲ 50.6%-€7,294▲ 2.7%-€6,210▲ 14.9%€260,833€282,741▲ 8.4%€591,857▲ 109%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €937,976
Fixed assets
€310,033 ▼ 1.2%
Current assets
€627,944 ▲ 115%
Equity and liabilities €937,976
Equity
€56,890 ▲ 22.1%
Debt
€881,087 ▲ 57.5%
Debt's share of the balance-sheet total rises from 92.3% to 93.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€14,221▼
2024 · €22,010
Cash flow
€14,116▼
2024 · €21,907
Current ratio
17.40▼
2024 · 31.16
Quick ratio
1.11▲
2024 · 1.05
Debt to equity
15.49▲
2024 · 12.00
ROE
18.1%▼
2024 · 36.1%
ROA
1.1%▼
2024 · 2.8%
Interest coverage
474.04▼
2024 · 772.28
Debt ≤ 1 year
€36,087▲
2024 · €9,374
Debt > 1 year
€845,000▲
2024 · €550,000
Income taxes
€75▲
2024 · €74
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68,966 | €68,868 | €68,868 | €26,723 | €9,593 | €12,266 | €5,067 | €3,838 | ▼ 24.3% |
| Other operating charges640/8 | - | - | - | €4,022 | €3,969 | €4,510 | €4,676 | €4,996 | ▲ 6.9% |
| Gross operating margin9900 | €12,495 | €13,766 | €44,861 | €15,906 | €16,740 | €25,839 | €26,686 | €19,218 | ▼ 28.0% |
| Operating profit (loss)9901 | -€60,541 | -€59,500 | -€27,890 | -€14,839 | €3,178 | €9,062 | €16,943 | €10,383 | ▼ 38.7% |
| Financial income75/76B | - | - | - | €0 | - | - | - | - | - |
| Recurring financial income75 | - | €0 | €0 | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €11,623 | €11,624 | €24 | €29 | €30 | ▲ 5.3% |
| Recurring financial charges65 | €21,675 | €21,679 | €11,592 | €11,623 | €11,624 | €24 | €29 | €30 | ▲ 5.3% |
| Profit (loss) for the period before taxes9903 | -€82,216 | -€81,178 | -€39,481 | -€26,462 | -€8,446 | €9,038 | €16,914 | €10,353 | ▼ 38.8% |
| Income taxes67/77 | €99 | €45 | €62 | €62 | €64 | €70 | €74 | €75 | ▲ 1.0% |
| Profit (loss) for the period9904 | -€82,315 | -€81,223 | -€39,543 | -€26,524 | -€8,509 | €8,969 | €16,840 | €10,278 | ▼ 39.0% |
| Profit (loss) for the period to be appropriated9905 | -€82,315 | -€81,223 | -€39,543 | -€26,524 | -€8,509 | €8,969 | €16,840 | €10,278 | ▼ 39.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €500,644 | €421,151 | €349,514 | €323,543 | €354,297 | €607,941 | €605,985 | €937,976 | ▲ 54.8% |
| Fixed assets21/28 | €486,666 | €417,197 | €348,329 | €321,606 | €312,013 | €318,938 | €313,871 | €310,033 | ▼ 1.2% |
| Intangible fixed assets21 | €600 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €486,066 | €417,197 | €348,329 | €321,606 | €312,013 | €318,938 | €313,871 | €310,033 | ▼ 1.2% |
| Land and buildings22 | - | - | - | €321,606 | €312,013 | €318,938 | €313,871 | €310,033 | ▼ 1.2% |
| Other tangible fixed assets26 | - | - | - | €0 | - | - | - | - | - |
| Current assets29/58 | €13,979 | €3,953 | €1,185 | €1,937 | €42,285 | €289,003 | €292,114 | €627,944 | ▲ 115% |
| Stocks and contracts in progress3 | - | - | - | - | - | €282,302 | €282,302 | €587,782 | ▲ 108% |
| Stocks30/36 | - | - | - | - | - | €282,302 | €282,302 | €587,782 | ▲ 108% |
| Amounts receivable within one year40/41 | €18 | €18 | - | - | €35,250 | €575 | €189 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €35,250 | €575 | €189 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €13,960 | €3,935 | €1,185 | €490 | €5,693 | €4,636 | €6,649 | €38,817 | ▲ 484% |
| Deferred charges and accrued income490/1 | - | - | - | €1,447 | €1,341 | €1,489 | €2,974 | €1,344 | ▼ 54.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €500,644 | €421,151 | €349,514 | €323,543 | €354,297 | €607,941 | €605,985 | €937,976 | ▲ 54.8% |
| Equity10/15 | €176,602 | €95,379 | €55,836 | €29,312 | €20,803 | €29,771 | €46,612 | €56,890 | ▲ 22.1% |
| Contributions10/11 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Capital10 | - | - | - | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Issued capital100 | - | - | - | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Reserves13 | €46,500 | €46,500 | €46,500 | €46,500 | €46,500 | €46,500 | €46,500 | €46,500 | = |
| Non-distributable reserves130/1 | - | - | - | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Legal reserve130 | - | - | - | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €40,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Profit (loss) carried forward14 | €65,102 | -€16,121 | -€55,664 | -€82,188 | -€90,697 | -€81,729 | -€64,888 | -€54,610 | ▲ 15.8% |
| Amounts payable17/49 | €324,042 | €325,772 | €293,678 | €294,232 | €333,495 | €578,169 | €559,374 | €881,087 | ▲ 57.5% |
| Amounts payable after more than one year17 | €285,000 | €285,000 | €285,000 | €285,000 | €285,000 | €550,000 | €550,000 | €845,000 | ▲ 53.6% |
| Other amounts payable178/9 | - | - | - | €285,000 | €285,000 | €550,000 | €550,000 | €845,000 | ▲ 53.6% |
| Amounts payable within one year42/48 | €17,382 | €19,112 | €8,678 | €9,232 | €48,495 | €28,169 | €9,374 | €36,087 | ▲ 285% |
| Trade debts44 | - | - | - | €111 | €0 | €350 | €126 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €111 | €0 | €350 | €126 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €3,542 | €3,606 | €70 | €169 | €149 | ▼ 11.6% |
| Taxes450/3 | - | - | - | €3,542 | €3,606 | €70 | €169 | €149 | ▼ 11.6% |
| Other amounts payable47/48 | - | - | - | €5,578 | €44,889 | €27,749 | €9,079 | €35,938 | ▲ 296% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€82,315 | -€81,223 | -€39,543 | -€26,524 | -€8,509 | €8,969 | €16,840 | €10,278 | ▼ 39.0% |
| + Depreciation and write-downs630 | €68,966 | €68,868 | €68,868 | €26,723 | €9,593 | €12,266 | €5,067 | €3,838 | ▼ 24.3% |
| Operating cash flow (approximation) | -€13,349 | -€12,355 | €29,325 | €199 | €1,084 | €21,235 | €21,907 | €14,116 | ▼ 35.6% |
| Investment in fixed assets (approximation) | - | €600 | €0 | €0 | €0 | -€19,191 | €0 | €0 | - |
| Change in cash | - | -€10,025 | -€2,750 | -€695 | €5,203 | -€1,057 | €2,013 | €32,168 | ▲ 1,498% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.