Anne-Line Servaes: 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.
Anne-Line Servaes
Largest movements
- Tangible fixed assets +€328,569
up €328,569 (+199%), from €165,272 to €493,841
of which Land and buildings: +€331,514
- Cash +€48,782
up €48,782 (+16.8%), from €290,669 to €339,451
mainly Debts after one year (+€230,869) and Net result for the year (+€209,460)
- Receivables within one year -€17,357
down €17,357 (-75.0%), from €23,134 to €5,777
of which Other amounts receivable: -€17,497
- Debts after one year +€230,869
new in 2025: €230,869
- Reserves +€109,460
up €109,460 (+32.1%), from €341,288 to €450,748
- Short-term financial debts -€72,633
down €72,633 (-15.9%), from €457,667 to €385,033
of which Credit institutions: -€102,500
- Other debts +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Current portion of long-term debt +€46,494
new in 2025: €46,494
- Gross operating margin +€73,315
up €73,315 (+24.3%), from €301,202 to €374,517
- Depreciation +€64,386
up €64,386 (+556%), from €11,589 to €75,975
- Financial charges +€8,842
up €8,842 (+37.6%), from €23,522 to €32,365
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 | €910,418 | €1,272,101 | +€361,683 | +39.7% |
| Fixed assets | 21/28 | €165,272 | €493,841 | +€328,569 | +199% |
| Tangible fixed assets | 22/27 | €165,272 | €493,841 | +€328,569 | +199% |
| Land and buildings | 22 | €149,856 | €481,371 | +€331,514 | +221% |
| Furniture and vehicles | 24 | €11,616 | €8,670 | -€2,946 | -25.4% |
| Other tangible fixed assets | 26 | €3,800 | €3,800 | = | 0.0% |
| Current assets | 29/58 | €745,146 | €778,260 | +€33,115 | +4.4% |
| Amounts receivable after more than one year | 29 | €424,200 | €424,200 | = | 0.0% |
| Other amounts receivable | 291 | €424,200 | €424,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €23,134 | €5,777 | -€17,357 | -75.0% |
| Trade receivables | 40 | - | €140 | +€140 | |
| Other amounts receivable | 41 | €23,134 | €5,637 | -€17,497 | -75.6% |
| Cash at bank and in hand | 54/58 | €290,669 | €339,451 | +€48,782 | +16.8% |
| Deferred charges and accrued income | 490/1 | €7,143 | €8,833 | +€1,690 | +23.7% |
| Total equity and liabilities | 10/49 | €910,418 | €1,272,101 | +€361,683 | +39.7% |
| Equity | 10/15 | €371,288 | €480,748 | +€109,460 | +29.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €341,288 | €450,748 | +€109,460 | +32.1% |
| Distributable reserves | 133 | €341,288 | €450,748 | +€109,460 | +32.1% |
| Amounts payable | 17/49 | €539,129 | €791,353 | +€252,224 | +46.8% |
| Amounts payable after more than one year | 17 | - | €230,869 | +€230,869 | |
| Financial debts | 170/4 | - | €230,869 | +€230,869 | |
| Amounts payable within one year | 42/48 | €526,677 | €545,989 | +€19,312 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | - | €46,494 | +€46,494 | |
| Financial debts | 43 | €457,667 | €385,033 | -€72,633 | -15.9% |
| Credit institutions | 430/8 | €215,000 | €112,500 | -€102,500 | -47.7% |
| Other loans | 439 | €242,667 | €272,533 | +€29,867 | +12.3% |
| Trade debts | 44 | €19,010 | €8,814 | -€10,197 | -53.6% |
| Suppliers | 440/4 | €19,010 | €8,814 | -€10,197 | -53.6% |
| Taxes, remuneration and social security | 45 | - | €5,648 | +€5,648 | |
| Taxes | 450/3 | - | €5,648 | +€5,648 | |
| Other amounts payable | 47/48 | €50,000 | €100,000 | +€50,000 | +100% |
| Accrued charges and deferred income | 492/3 | €12,452 | €14,494 | +€2,042 | +16.4% |
| Non-recurring operating income | 76A | €1,000 | €50,144 | +€49,144 | +4,914% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,589 | €75,975 | +€64,386 | +556% |
| Other operating charges | 640/8 | €1,635 | €1,674 | +€40 | +2.4% |
| Non-recurring operating charges | 66A | €13,260 | - | -€13,260 | |
| Gross operating margin | 9900 | €301,202 | €374,517 | +€73,315 | +24.3% |
| Operating profit (loss) | 9901 | €274,718 | €296,868 | +€22,150 | +8.1% |
| Financial income | 75/76B | €7,876 | €10,605 | +€2,729 | +34.6% |
| Recurring financial income | 75 | €7,876 | €10,605 | +€2,729 | +34.6% |
| Financial charges | 65/66B | €23,522 | €32,365 | +€8,842 | +37.6% |
| Recurring financial charges | 65 | €23,522 | €32,365 | +€8,842 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €259,072 | €275,108 | +€16,036 | +6.2% |
| Income taxes | 67/77 | €62,853 | €65,648 | +€2,795 | +4.4% |
| Profit (loss) for the period | 9904 | €196,219 | €209,460 | +€13,241 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €196,219 | €209,460 | +€13,241 | +6.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.