NEW SERVHYDRO: 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.
NEW SERVHYDRO
Largest movements
- Cash +€243,770
up €243,770 (+64.8%), from €376,026 to €619,796
mainly Net result for the year (+€328,144) and Trade debts (+€101,317)
- Stocks and contracts +€118,430
up €118,430 (+116%), from €101,965 to €220,396
- Receivables within one year -€89,360
down €89,360 (-19.3%), from €463,397 to €374,037
of which Trade receivables: -€108,835
- Intangible fixed assets -€28,580
down €28,580 (-34.3%), from €83,253 to €54,673
- Profit (loss) carried forward +€178,144
up €178,144 (+27.2%), from €654,823 to €832,967
- Trade debts +€101,317
up €101,317 (+79.7%), from €127,108 to €228,425
- Tax, wage and social debts -€47,189
down €47,189 (-38.8%), from €121,644 to €74,455
of which Remuneration and social security: -€38,663
- Current portion of long-term debt +€20,936
up €20,936 (+20.0%), from €104,530 to €125,466
- Debts after one year +€19,750
up €19,750 (+139%), from €14,231 to €33,981
- Gross operating margin +€204,731
up €204,731 (+23.1%), from €885,436 to €1.1m
- Taxes +€74,756
up €74,756 (+163%), from €45,769 to €120,525
- Staff costs -€43,171
down €43,171 (-6.9%), from €621,350 to €578,179
- Depreciation -€27,521
down €27,521 (-34.6%), from €79,624 to €52,104
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 | €1,052,620 | €1,315,722 | +€263,103 | +25.0% |
| Fixed assets | 21/28 | €108,362 | €86,110 | -€22,252 | -20.5% |
| Intangible fixed assets | 21 | €83,253 | €54,673 | -€28,580 | -34.3% |
| Tangible fixed assets | 22/27 | €25,110 | €31,438 | +€6,328 | +25.2% |
| Plant, machinery and equipment | 23 | €8,347 | €10,818 | +€2,471 | +29.6% |
| Furniture and vehicles | 24 | €6,609 | €2,668 | -€3,940 | -59.6% |
| Leasing and similar rights | 25 | €10,153 | €17,951 | +€7,798 | +76.8% |
| Current assets | 29/58 | €944,257 | €1,229,612 | +€285,354 | +30.2% |
| Stocks and contracts in progress | 3 | €101,965 | €220,396 | +€118,430 | +116% |
| Stocks | 30/36 | €101,965 | €220,396 | +€118,430 | +116% |
| Amounts receivable within one year | 40/41 | €463,397 | €374,037 | -€89,360 | -19.3% |
| Trade receivables | 40 | €449,167 | €340,331 | -€108,835 | -24.2% |
| Other amounts receivable | 41 | €14,231 | €33,706 | +€19,475 | +137% |
| Cash at bank and in hand | 54/58 | €376,026 | €619,796 | +€243,770 | +64.8% |
| Deferred charges and accrued income | 490/1 | €2,869 | €15,383 | +€12,515 | +436% |
| Total equity and liabilities | 10/49 | €1,052,620 | €1,315,722 | +€263,103 | +25.0% |
| Equity | 10/15 | €674,823 | €852,967 | +€178,144 | +26.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €654,823 | €832,967 | +€178,144 | +27.2% |
| Amounts payable | 17/49 | €377,796 | €462,755 | +€84,958 | +22.5% |
| Amounts payable after more than one year | 17 | €14,231 | €33,981 | +€19,750 | +139% |
| Financial debts | 170/4 | €14,231 | €33,981 | +€19,750 | +139% |
| Amounts payable within one year | 42/48 | €363,566 | €428,774 | +€65,208 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €104,530 | €125,466 | +€20,936 | +20.0% |
| Trade debts | 44 | €127,108 | €228,425 | +€101,317 | +79.7% |
| Suppliers | 440/4 | €127,108 | €228,425 | +€101,317 | +79.7% |
| Taxes, remuneration and social security | 45 | €121,644 | €74,455 | -€47,189 | -38.8% |
| Taxes | 450/3 | €26,325 | €17,798 | -€8,527 | -32.4% |
| Remuneration and social security | 454/9 | €95,319 | €56,656 | -€38,663 | -40.6% |
| Other amounts payable | 47/48 | €10,284 | €428 | -€9,856 | -95.8% |
| Remuneration, social security and pensions | 62 | €621,350 | €578,179 | -€43,171 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,624 | €52,104 | -€27,521 | -34.6% |
| Other operating charges | 640/8 | €15,753 | €5,893 | -€9,860 | -62.6% |
| Gross operating margin | 9900 | €885,436 | €1,090,167 | +€204,731 | +23.1% |
| Operating profit (loss) | 9901 | €168,709 | €453,991 | +€285,283 | +169% |
| Financial income | 75/76B | €100 | €170 | +€69 | +69.1% |
| Recurring financial income | 75 | €100 | €170 | +€69 | +69.1% |
| Financial charges | 65/66B | €6,350 | €5,492 | -€859 | -13.5% |
| Recurring financial charges | 65 | €6,350 | €5,492 | -€859 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €162,459 | €448,669 | +€286,211 | +176% |
| Income taxes | 67/77 | €45,769 | €120,525 | +€74,756 | +163% |
| Profit (loss) for the period | 9904 | €116,689 | €328,144 | +€211,455 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €116,689 | €328,144 | +€211,455 | +181% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.