SERVRANX
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 33 filings
Turnover
≈ €260,000
Estimated: probably between €150,000 and €520,000
EBIT margin
Not included in this filing
Net result
-€4,289▲ 86.0%
2024 · -€30,645
Working capital
€159,391▲ 2.7%
2024 · €155,194
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€679
▲ 97.5%
2025
20182025
Net result
-€4,289
▲ 86.0%
2025
lowest quarter of the sector
20182025
Equity
€171,384
▼ 2.4%
2025
middle half of the sector
20182025
Total assets
€186,658
▼ 0.5%
2025
lowest quarter of the sector
20182025
Debt
€15,274
▲ 27.5%
2025
20182025
Working capital
€159,391
▲ 2.7%
2025
middle half of the sector
20182025
Solvency
91.8%
▼ 1.8pp
2025
highest quarter of the sector
20182025
Current ratio
13.99
▼ 4.29
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-2.3%
▲ 14.0pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
0.8
=
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€84,714-€23,662▼ 72.1%€60,830▲ 157%€32,083▼ 47.3%€12,688▼ 60.5%€6,024▼ 52.5%-€27,129-€679▲ 97.5%
Net result€61,859-€20,050▼ 67.6%€58,311within the sector's middle half▲ 191%€29,504within the sector's middle half▼ 49.4%€9,140within the sector's middle half▼ 69.0%€745within the sector's middle half▼ 91.8%-€30,645below the sector's middle half-€4,289below the sector's middle half▲ 86.0%
Equity€200,568-€200,619=€203,929within the sector's middle half▲ 1.7%€206,433within the sector's middle half▲ 1.2%€205,573within the sector's middle half▼ 0.4%€206,318within the sector's middle half▲ 0.4%€175,673within the sector's middle half▼ 14.9%€171,384within the sector's middle half▼ 2.4%
Total assets€243,452-€226,454▼ 7.0%€272,539below the sector's middle half▲ 20.4%€238,093below the sector's middle half▼ 12.6%€227,778below the sector's middle half▼ 4.3%€215,743below the sector's middle half▼ 5.3%€187,655below the sector's middle half▼ 13.0%€186,658below the sector's middle half▼ 0.5%
Debt€42,883-€25,836▼ 39.8%€68,610▲ 166%€31,660▼ 53.9%€22,205▼ 29.9%€9,425▼ 57.6%€11,981▲ 27.1%€15,274▲ 27.5%
Working capital€195,995-€195,669▼ 0.2%€199,074within the sector's middle half▲ 1.7%€190,108within the sector's middle half▼ 4.5%€184,086within the sector's middle half▼ 3.2%€173,206within the sector's middle half▼ 5.9%€155,194within the sector's middle half▼ 10.4%€159,391within the sector's middle half▲ 2.7%
Solvency82.4%-88.6%▲ 6.2pp74.8%above the sector's middle half▼ 13.8pp86.7%above the sector's middle half▲ 11.9pp90.3%above the sector's middle half▲ 3.5pp95.6%above the sector's middle half▲ 5.4pp93.6%above the sector's middle half▼ 2.0pp91.8%above the sector's middle half▼ 1.8pp
Current ratio5.57-8.57▲ 3.003.90above the sector's middle half▼ 4.677.00above the sector's middle half▲ 3.109.29above the sector's middle half▲ 2.2919.38above the sector's middle half▲ 10.0918.28above the sector's middle half▼ 1.1013.99above the sector's middle half▼ 4.29
Return on assets (ROA)25.4%-8.9%▼ 16.6pp21.4%above the sector's middle half▲ 12.5pp12.4%above the sector's middle half▼ 9.0pp4.0%within the sector's middle half▼ 8.4pp0.3%within the sector's middle half▼ 3.7pp-16.3%below the sector's middle half▼ 16.7pp-2.3%below the sector's middle half▲ 14.0pp
Staff (FTE)0.7-0.8▲ 14.3%0.8below the sector's middle half=0.8below the sector's middle half=0.8below the sector's middle half=0.8below the sector's middle half=0.8below the sector's middle half=0.8below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 a loss of €679, smaller than the loss of €27,129 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €186,658
Fixed assets
€14,993 ▼ 36.1%
Current assets
€171,665 ▲ 4.6%
Equity and liabilities €186,658
Equity
€171,384 ▼ 2.4%
Debt
€15,274 ▲ 27.5%
Debt's share of the balance-sheet total rises from 6.4% to 8.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7,806▲
2024 · -€17,496
Cash flow
€4,197▲
2024 · -€21,012
Quick ratio
4.11▼
2024 · 4.52
Debt to equity
0.09▲
2024 · 0.07
ROE
-2.5%▲
2024 · -17.4%
Interest coverage
2.16▲
2024 · -4.96
Debt ≤ 1 year
€12,274▲
2024 · €8,981
Staff costs
€37,814▲
2024 · €36,415
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 |
| Average over the year, in full-time equivalents | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,090 | - | €8,735 | - | - |
| Intangible fixed assets | - | €9,442 | €9,885 | - | - |
| Depreciation and write-downs of the year | €2,158 | €4,280 | €6,995 | €9,633 | €8,486 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €31,421 | €32,344 | €36,305 | €36,415 | €37,814 | ▲ 3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,481 | €94 | €94 | €2,158 | €4,280 | €6,995 | €9,633 | €8,486 | ▼ 11.9% |
| Other operating charges640/8 | - | - | - | €402 | €247 | €59 | €245 | €1,073 | ▲ 338% |
| Gross operating margin9900 | €111,625 | €55,024 | €92,206 | €66,064 | €49,559 | €49,383 | €19,163 | €46,693 | ▲ 144% |
| Operating profit (loss)9901 | €84,714 | €23,662 | €60,830 | €32,083 | €12,688 | €6,024 | -€27,129 | -€679 | ▲ 97.5% |
| Financial income75/76B | - | - | - | €504 | €1 | €60 | €12 | - | - |
| Recurring financial income75 | €2,241 | €120 | €130 | €504 | €1 | €60 | €12 | - | - |
| Financial charges65/66B | - | - | - | €2,988 | €2,993 | €4,331 | €3,528 | €3,610 | ▲ 2.3% |
| Recurring financial charges65 | €10,091 | €2,162 | €2,248 | €2,988 | €2,993 | €4,331 | €3,528 | €3,610 | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | €76,864 | €21,620 | €58,712 | €29,599 | €9,696 | €1,753 | -€30,645 | -€4,289 | ▲ 86.0% |
| Income taxes67/77 | €15,005 | €1,570 | €401 | €95 | €556 | €1,008 | - | - | - |
| Profit (loss) for the period9904 | €61,859 | €20,050 | €58,311 | €29,504 | €9,140 | €745 | -€30,645 | -€4,289 | ▲ 86.0% |
| Profit (loss) for the period to be appropriated9905 | €61,859 | €20,050 | €58,311 | €29,504 | €9,140 | €745 | -€30,645 | -€4,289 | ▲ 86.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €243,452 | €226,454 | €272,539 | €238,093 | €227,778 | €215,743 | €187,655 | €186,658 | ▼ 0.5% |
| Fixed assets21/28 | €4,574 | €4,949 | €4,855 | €16,325 | €21,487 | €33,112 | €23,479 | €14,993 | ▼ 36.1% |
| Intangible fixed assets21 | - | - | - | - | €9,276 | €16,510 | €12,645 | €8,780 | ▼ 30.6% |
| Tangible fixed assets22/27 | - | €376 | €282 | €16,214 | €12,099 | €16,490 | €10,723 | €6,102 | ▼ 43.1% |
| Plant, machinery and equipment23 | - | - | - | €2,659 | €2,072 | €1,485 | €898 | €311 | ▼ 65.3% |
| Furniture and vehicles24 | - | - | - | €188 | €94 | €8,505 | €6,758 | €5,011 | ▼ 25.8% |
| Other tangible fixed assets26 | - | - | - | €13,367 | €9,934 | €6,500 | €3,066 | €779 | ▼ 74.6% |
| Financial fixed assets28 | €4,574 | €4,574 | €4,574 | €112 | €112 | €112 | €112 | €112 | = |
| Current assets29/58 | €238,878 | €221,505 | €267,684 | €221,767 | €206,291 | €182,631 | €164,175 | €171,665 | ▲ 4.6% |
| Stocks and contracts in progress3 | €151,357 | €146,185 | €151,339 | €139,896 | €137,087 | €129,661 | €123,554 | €121,178 | ▼ 1.9% |
| Stocks30/36 | - | - | - | €139,896 | €137,087 | €129,661 | €123,554 | €121,178 | ▼ 1.9% |
| Amounts receivable within one year40/41 | €7,827 | €24,372 | €16,295 | €16,072 | €22,554 | €11,733 | €8,377 | €7,163 | ▼ 14.5% |
| Trade receivables40 | - | - | - | €5,062 | €10,153 | €6,623 | €4,386 | €7,163 | ▲ 63.3% |
| Other amounts receivable41 | - | - | - | €11,011 | €12,400 | €5,110 | €3,992 | - | - |
| Cash at bank and in hand54/58 | €76,350 | €46,919 | €96,663 | €62,866 | €43,921 | €37,653 | €28,580 | €39,501 | ▲ 38.2% |
| Deferred charges and accrued income490/1 | - | - | - | €2,933 | €2,730 | €3,584 | €3,664 | €3,823 | ▲ 4.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €243,452 | €226,454 | €272,539 | €238,093 | €227,778 | €215,743 | €187,655 | €186,658 | ▼ 0.5% |
| Equity10/15 | €200,568 | €200,619 | €203,929 | €206,433 | €205,573 | €206,318 | €175,673 | €171,384 | ▼ 2.4% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €63,456 | €63,456 | €63,456 | €63,456 | €63,456 | €63,456 | €63,456 | €63,456 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | - | - | €61,597 | €61,597 | €61,597 | €63,456 | €63,456 | = |
| Profit (loss) carried forward14 | €118,520 | €118,571 | €121,881 | €124,385 | €123,525 | €124,270 | €93,625 | €89,336 | ▼ 4.6% |
| Amounts payable17/49 | €42,883 | €25,836 | €68,610 | €31,660 | €22,205 | €9,425 | €11,981 | €15,274 | ▲ 27.5% |
| Amounts payable within one year42/48 | €42,883 | €25,836 | €68,610 | €31,660 | €22,205 | €9,425 | €8,981 | €12,274 | ▲ 36.7% |
| Trade debts44 | €4,411 | €1,843 | €5,390 | €566 | €7,950 | €4,697 | €1,467 | €3,704 | ▲ 152% |
| Suppliers440/4 | - | - | - | €566 | €7,950 | €4,697 | €1,467 | €3,704 | ▲ 152% |
| Taxes, remuneration and social security45 | - | - | - | €4,093 | €4,255 | €4,728 | €7,514 | €8,570 | ▲ 14.0% |
| Taxes450/3 | - | - | - | - | - | €1 | €2,718 | €3,601 | ▲ 32.5% |
| Remuneration and social security454/9 | - | - | - | €4,093 | €4,255 | €4,727 | €4,797 | €4,969 | ▲ 3.6% |
| Other amounts payable47/48 | - | - | - | €27,000 | €10,000 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €3,000 | €3,000 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61,859 | €20,050 | €58,311 | €29,504 | €9,140 | €745 | -€30,645 | -€4,289 | ▲ 86.0% |
| + Depreciation and write-downs630 | €1,481 | €94 | €94 | €2,158 | €4,280 | €6,995 | €9,633 | €8,486 | ▼ 11.9% |
| Operating cash flow (approximation) | €63,339 | €20,144 | €58,405 | €31,662 | €13,420 | €7,740 | -€21,012 | €4,197 | - |
| Investment in fixed assets (approximation) | - | -€469 | €0 | -€13,628 | -€9,442 | -€18,619 | €0 | €0 | - |
| Change in cash | - | -€29,431 | €49,744 | -€33,797 | -€18,945 | -€6,267 | -€9,073 | €10,921 | - |
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, 12,322 companies had the same profile as SERVRANX has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SERVRANX itself: 0.2% 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 12,322 companies, not a prediction for SERVRANX. 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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-07-2026 | 2026-00320125 | |
| 31-12-2024 | full format | 28-07-2025 | 2025-00320656 | |
| 31-12-2023 | full format | 30-07-2024 | 2024-00301036 | |
| 31-12-2022 | full format | 11-08-2023 | 2023-00324656 | |
| 31-12-2021 | full format | 27-07-2022 | 2022-20228287 | |
| 31-12-2020 | full format | 28-07-2021 | 2021-41300147 | |
| 31-12-2019 | full format | 24-08-2020 | 2020-43600478 | |
| 31-12-2018 | full format | 24-07-2019 | 2019-38300424 | |
| 31-12-2017 | full format | 11-06-2018 | 2018-17200477 | |
| 31-12-2016 | micro format | 19-06-2017 | 2017-18300474 |