SERVIO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-03-2026 PDF all 26 filings
Turnover
≈ €270,000
Estimated: probably between €170,000 and €510,000
Total assets
€509,650▲ 22.5%
2024 · €416,128
Net result
€89,713
2024 · -€2,780
Working capital
€408,636▲ 5.1%
2024 · €388,794
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€98,629
▲ 181×
2025
20192025
Net result
€89,713
2025
middle half of the sector
20192025
Equity
€410,519
▲ 3.7%
2025
middle half of the sector
20192025
Total assets
€509,650
▲ 22.5%
2025
middle half of the sector
20192025
Debt
€99,131
▲ 388%
2025
20192025
Working capital
€408,636
▲ 5.1%
2025
middle half of the sector
20192025
Solvency
80.5%
▼ 14.6pp
2025
highest quarter of the sector
20192025
Current ratio
5.12
▼ 15.01
2025
highest quarter of the sector
20192025
Return on assets (ROA)
17.6%
▲ 18.3pp
2025
highest quarter of the sector
20192025
Staff (FTE)
0
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.04m-€0.04m▼ 16.7%€0.08m▲ 111%€0.05m▼ 34.1%€0.05m▼ 11.7%€0.001m▼ 98.8%€0.1m▲ 181×
Net result€0.02m-€0.02mwithin the sector's middle half▼ 23.3%€0.07mwithin the sector's middle half▲ 281%€0.03mwithin the sector's middle half▼ 55.8%€0.02mwithin the sector's middle half▼ 26.7%-€0.003mbelow the sector's middle half€0.09mwithin the sector's middle half
Equity€0.3m-€0.3mwithin the sector's middle half▲ 5.4%€0.3mwithin the sector's middle half▲ 0.7%€0.4mwithin the sector's middle half▲ 8.6%€0.4mwithin the sector's middle half▲ 5.8%€0.4mwithin the sector's middle half▼ 0.7%€0.4mwithin the sector's middle half▲ 3.7%
Total assets€1.4m-€1.0mwithin the sector's middle half▼ 25.0%€1.1mwithin the sector's middle half▲ 6.0%€0.5mbelow the sector's middle half▼ 57.3%€0.4mbelow the sector's middle half▼ 8.3%€0.4mbelow the sector's middle half▼ 1.2%€0.5mwithin the sector's middle half▲ 22.5%
Debt€1.0m-€0.7m▼ 34.7%€0.7m▲ 8.8%€0.08m▼ 88.7%€0.02m▼ 72.6%€0.02m▼ 10.3%€0.1m▲ 388%
Working capital€0.3m-€0.3mwithin the sector's middle half▲ 9.1%€0.3mwithin the sector's middle half▼ 1.5%€0.4mwithin the sector's middle half▲ 9.1%€0.4mwithin the sector's middle half▲ 5.8%€0.4mwithin the sector's middle half▲ 0.9%€0.4mwithin the sector's middle half▲ 5.1%
Solvency24.2%-34.0%within the sector's middle half▲ 9.8pp32.3%within the sector's middle half▼ 1.7pp82.0%above the sector's middle half▲ 49.7pp94.6%above the sector's middle half▲ 12.6pp95.1%above the sector's middle half▲ 0.5pp80.5%above the sector's middle half▼ 14.6pp
Current ratio1.30-1.51within the sector's middle half▲ 0.201.47within the sector's middle half▼ 0.045.92above the sector's middle half▲ 4.4518.00above the sector's middle half▲ 12.0820.13above the sector's middle half▲ 2.135.12above the sector's middle half▼ 15.01
Return on assets (ROA)1.7%-1.7%within the sector's middle half=6.3%within the sector's middle half▲ 4.5pp6.5%within the sector's middle half▲ 0.2pp5.2%within the sector's middle half▼ 1.3pp-0.7%below the sector's middle half▼ 5.8pp17.6%above the sector's middle half▲ 18.3pp
Staff (FTE)12.3-11.5within the sector's middle half▼ 6.5%9.9within the sector's middle half▼ 13.9%4within the sector's middle half▼ 59.6%0below the sector's middle half▼ 100%0below the sector's middle half0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Manufacture of textiles (NACE 13). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 181 times that of 2024 and the highest since 2019. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €509,650
Fixed assets
€1,884 ▼ 73.1%
Current assets
€507,767 ▲ 24.1%
Equity and liabilities €509,650
Equity
€410,519 ▲ 3.7%
Debt
€99,131 ▲ 388%
Debt's share of the balance-sheet total rises from 4.9% to 19.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€105,217▲
2024 · €6,882
Cash flow
€96,301▲
2024 · €3,556
Debt to equity
0.24▲
2024 · 0.05
ROE
21.9%▲
2024 · -0.7%
Interest coverage
55.79▲
2024 · 3.58
Debt ≤ 1 year
€99,131▲
2024 · €20,321
Income taxes
€7,031▲
2024 · €1,499
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2021 | 30-09-2022 |
|---|---|---|
| Employees at the balance-sheet date | 10 | 2 |
| full-time | 8 | 2 |
| part-time | 2 | - |
| in full-time equivalents | 9.4 | 2 |
| Average over the year, in full-time equivalents | 9.9 | 4 |
| On a permanent contract | 9 | 2 |
| Joined | 1 | 1 |
| Left | 3 | 9 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €24,579 | €16,726 | €8,674 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €31,680 | - | - | - | €1,459 |
| Depreciation and write-downs of the year | €7,942 | €8,619 | €8,076 | €6,336 | €6,588 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Public contracts
1 award · 2018
Bozar-pontsd'éclairage-2018: BOZ-Ponts d'éclairage-2018
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €150 | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €237,465 | €71,818 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,283 | €10,283 | €7,942 | €8,619 | €8,076 | €6,336 | €6,588 | ▲ 4.0% |
| Other operating charges640/8 | - | - | €2,712 | €3,237 | €2,557 | €2,040 | €1,804 | ▼ 11.6% |
| Non-recurring operating charges66A | - | - | - | - | - | €7,782 | €0 | ▼ 100% |
| Gross operating margin9900 | €313,039 | €301,292 | €326,809 | €135,529 | €56,441 | €16,704 | €107,021 | ▲ 541% |
| Operating profit (loss)9901 | €44,802 | €37,342 | €78,690 | €51,855 | €45,808 | €546 | €98,629 | ▲ 181× |
| Financial income75/76B | - | - | €4,624 | €3,462 | €0 | €99 | €0 | ▼ 100% |
| Recurring financial income75 | - | €906 | €4,624 | €3,462 | €0 | €99 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | €12,169 | €11,319 | €13,260 | €1,925 | €1,886 | ▼ 2.0% |
| Recurring financial charges65 | €8,837 | €9,365 | €12,169 | €11,319 | €13,260 | €1,925 | €1,886 | ▼ 2.0% |
| Profit (loss) for the period before taxes9903 | €35,965 | €28,883 | €71,145 | €43,998 | €32,547 | -€1,280 | €96,743 | - |
| Income taxes67/77 | €12,909 | €11,204 | €3,808 | €14,264 | €10,753 | €1,499 | €7,031 | ▲ 369% |
| Profit (loss) for the period9904 | €23,056 | €17,679 | €67,337 | €29,734 | €21,794 | -€2,780 | €89,713 | - |
| Profit (loss) for the period to be appropriated9905 | €23,056 | €17,679 | €67,337 | €29,734 | €21,794 | -€2,780 | €89,713 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.4m | €1.0m | €1.1m | €0.5m | €0.4m | €0.4m | €0.5m | ▲ 22.5% |
| Fixed assets21/28 | €0.02m | €0.006m | €0.03m | €0.02m | €0.01m | €0.007m | €0.002m | ▼ 73.1% |
| Tangible fixed assets22/27 | €0.02m | €0.006m | €0.03m | €0.02m | €0.01m | €0.007m | €0.002m | ▼ 73.1% |
| Plant, machinery and equipment23 | - | - | €0.004m | €0.002m | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | - | - | - | €0.001m | - |
| Leasing and similar rights25 | - | - | €0.03m | €0.02m | €0.01m | €0.007m | €0.001m | ▼ 90.3% |
| Current assets29/58 | €1.3m | €1.0m | €1.0m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 24.1% |
| Stocks and contracts in progress3 | €0.02m | €0.02m | €0.05m | €0.01m | €0.004m | €0.004m | €0 | ▼ 100% |
| Stocks30/36 | - | - | €0.01m | €0.007m | €0.004m | €0.004m | €0 | ▼ 100% |
| Contracts in progress37 | - | - | €0.04m | €0.008m | €0 | - | - | - |
| Amounts receivable within one year40/41 | €1.3m | €0.9m | €0.8m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 4.1% |
| Trade receivables40 | - | - | €0.2m | €0.002m | €0.09m | €0.04m | €0.03m | ▼ 18.1% |
| Other amounts receivable41 | - | - | €0.5m | €0.3m | €0.1m | €0.1m | €0.1m | ▲ 0.1% |
| Cash at bank and in hand54/58 | €0.03m | €0.03m | €0.2m | €0.1m | €0.2m | €0.2m | €0.3m | ▲ 49.5% |
| Deferred charges and accrued income490/1 | - | - | €0.002m | €162 | €171 | €364 | €462 | ▲ 26.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.4m | €1.0m | €1.1m | €0.5m | €0.4m | €0.4m | €0.5m | ▲ 22.5% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 3.7% |
| Contributions10/11 | €0.2m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 6.5% |
| Non-distributable reserves130/1 | - | - | €0.02m | €0.02m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.02m | €0.02m | €0 | - | - | - |
| Distributable reserves133 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 6.5% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | - |
| Amounts payable17/49 | €1.0m | €0.7m | €0.7m | €0.08m | €0.02m | €0.02m | €0.1m | ▲ 388% |
| Amounts payable after more than one year17 | - | - | €0.02m | €0.009m | €0 | - | - | - |
| Financial debts170/4 | - | - | €0.02m | €0.009m | €0 | - | - | - |
| Amounts payable within one year42/48 | €1.0m | €0.7m | €0.7m | €0.07m | €0.02m | €0.02m | €0.1m | ▲ 388% |
| Current portion of amounts payable after more than one year42 | - | - | €0.008m | €0.008m | €0.009m | €0 | - | - |
| Financial debts43 | - | - | €0.2m | €0.05m | €0 | - | - | - |
| Credit institutions430/8 | - | - | €0.2m | €0.05m | €0 | - | - | - |
| Trade debts44 | €0.7m | €0.4m | €0.5m | €0.001m | €187 | €0.02m | €0.01m | ▼ 35.3% |
| Suppliers440/4 | - | - | €0.5m | €0.001m | €187 | €0.02m | €0.01m | ▼ 35.3% |
| Taxes, remuneration and social security45 | - | - | €0.02m | €0.02m | €0.01m | €0.001m | €0.01m | ▲ 906% |
| Taxes450/3 | - | - | €0.004m | €0.02m | €0.01m | €0.001m | €0.01m | ▲ 906% |
| Remuneration and social security454/9 | - | - | €0.02m | - | - | - | - | - |
| Other amounts payable47/48 | - | - | €0.07m | - | - | - | €0.08m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,056 | €17,679 | €67,337 | €29,734 | €21,794 | -€2,780 | €89,713 | - |
| + Depreciation and write-downs630 | €10,283 | €10,283 | €7,942 | €8,619 | €8,076 | €6,336 | €6,588 | ▲ 4.0% |
| Operating cash flow (approximation) | €33,339 | €27,962 | €75,280 | €38,354 | €29,870 | €3,556 | €96,301 | ▲ 27× |
| Investment in fixed assets (approximation) | - | €0 | -€31,680 | €0 | €0 | €0 | -€1,459 | - |
| Change in cash | - | €1,185 | €178,126 | -€77,182 | €64,714 | €29,501 | €110,184 | ▲ 273% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as SERVIO has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of SERVIO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,136 companies, not a prediction for SERVIO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 30-03-2026 | 2026-00066676 | |
| 30-09-2024 | abbreviated format | 07-04-2025 | 2025-00064782 | |
| 30-09-2023 | abbreviated format | 05-03-2024 | 2024-00039269 | |
| 30-09-2022 | abbreviated format | 05-05-2023 | 2023-00080835 | |
| 30-09-2021 | abbreviated format | 30-05-2022 | 2022-20041272 | |
| 30-09-2020 | abbreviated format | 02-04-2021 | 2021-10000233 | |
| 30-09-2019 | abbreviated format | 08-05-2020 | 2020-11700131 | |
| 30-09-2018 | abbreviated format | 30-04-2019 | 2019-11000118 | |
| 30-09-2017 | abbreviated format | 26-03-2018 | 2018-07600201 | |
| 30-09-2016 | abbreviated format | 28-03-2017 | 2017-07300242 |