Normec Servaco: 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.
What changed
Normec Servaco
NACE 96.999, Other personal services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.3m
2024 · €2.4m-€57,164
Equity
€6.3m
2024 · €11.8m-€5.5m
Cash
€564,448
2024 · €1.0m-€479,652
Balance sheet total
€17.3m
2024 · €16.4m+€838,953
Largest movements
Assets
- Receivables within one year +€1.4m
up €1.4m (+19.3%), from €7.1m to €8.5m
of which Trade receivables: +€2.0m
- Cash -€479,652
down €479,652 (-45.9%), from €1.0m to €564,448
mainly Contributions, distributions and other (-€7.8m) and Investment in fixed assets (net) (-€1.7m)
Equity and liabilities
- Reserves -€5.5m
down €5.5m (-51.3%), from €10.7m to €5.2m
of which Distributable reserves: -€5.5m
- Other debts +€5.2m
up €5.2m (+163,803%), from €3,181 to €5.2m
- Tax, wage and social debts +€1.3m
up €1.3m (+49.4%), from €2.6m to €3.9m
of which Taxes: +€1.0m
- Trade debts -€197,784
down €197,784 (-10.1%), from €2.0m to €1.8m
Income statement
- Turnover +€2.5m
up €2.5m (+11.3%), from €21.8m to €24.2m
- Staff costs +€1.3m
up €1.3m (+14.3%), from €9.0m to €10.2m
- Services and other goods +€609,316
up €609,316 (+11.2%), from €5.4m to €6.0m
- Other operating income +€252,687
up €252,687 (+101%), from €250,770 to €503,457
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.
Result 2024
€2.4m
Turnover
+€2.5m
Other operating income
+€252,687
Goods and materials
-€218,870
Services and other goods
-€609,316
Staff costs
-€1.3m
Depreciation
-€100,441
Write-downs
+€12,049
Provisions
-€26,203
Other operating charges
-€32,170
Other operating items
-€123,886
Financial income
-€203,306
Financial charges
-€189,773
Taxes
+€971
Result 2025
€2.3m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9.0m
Investment
-€1.7m
Financing
-€7.8m
Cash 2024
€1.0m
From operations (derived)
+€9.0m
Net result for the year
+€2.3m
Depreciation
+€1.8m
Smaller working-capital items
+€26,153
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€36,171
Trade debts
-€197,784
Tax, wage and social debts
+€1.3m
Other debts
+€5.2m
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
-€7.8m
Contributions, distributions and other
-€7.8m
Cash 2025
€564,448
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,415,422 | €17,254,375 | +€838,953 | +5.1% |
| Fixed assets | 21/28 | €7,550,745 | €7,481,505 | -€69,240 | -0.9% |
| Intangible fixed assets | 21 | €450,927 | €376,765 | -€74,162 | -16.4% |
| Tangible fixed assets | 22/27 | €7,071,005 | €7,075,927 | +€4,922 | +0.1% |
| Land and buildings | 22 | €2,832,760 | €2,750,555 | -€82,206 | -2.9% |
| Plant, machinery and equipment | 23 | €3,909,633 | €3,786,194 | -€123,439 | -3.2% |
| Furniture and vehicles | 24 | €328,612 | €539,178 | +€210,566 | +64.1% |
| Financial fixed assets | 28 | €28,814 | €28,814 | = | 0.0% |
| Other financial fixed assets | 284/8 | €28,814 | €28,814 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €28,814 | €28,814 | = | 0.0% |
| Current assets | 29/58 | €8,864,677 | €9,772,869 | +€908,193 | +10.2% |
| Stocks and contracts in progress | 3 | €322,049 | €305,295 | -€16,755 | -5.2% |
| Contracts in progress | 37 | €322,049 | €305,295 | -€16,755 | -5.2% |
| Amounts receivable within one year | 40/41 | €7,086,399 | €8,454,827 | +€1.4m | +19.3% |
| Trade receivables | 40 | €6,485,635 | €8,454,827 | +€2.0m | +30.4% |
| Other amounts receivable | 41 | €600,764 | €0 | -€600,764 | -100% |
| Cash at bank and in hand | 54/58 | €1,044,100 | €564,448 | -€479,652 | -45.9% |
| Deferred charges and accrued income | 490/1 | €412,129 | €448,300 | +€36,171 | +8.8% |
| Total equity and liabilities | 10/49 | €16,415,422 | €17,254,375 | +€838,953 | +5.1% |
| Equity | 10/15 | €11,778,851 | €6,305,639 | -€5.5m | -46.5% |
| Contributions | 10/11 | €1,100,000 | €1,100,000 | = | 0.0% |
| Capital | 10 | €1,100,000 | €1,100,000 | = | 0.0% |
| Issued capital | 100 | €1,100,000 | €1,100,000 | = | 0.0% |
| Reserves | 13 | €10,678,851 | €5,205,639 | -€5.5m | -51.3% |
| Non-distributable reserves | 130/1 | €110,000 | €110,000 | = | 0.0% |
| Legal reserve | 130 | €110,000 | €110,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €52,640 | €52,640 | = | 0.0% |
| Distributable reserves | 133 | €10,516,211 | €5,043,000 | -€5.5m | -52.0% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €4,636,571 | €10,948,735 | +€6.3m | +136% |
| Amounts payable within one year | 42/48 | €4,580,291 | €10,883,057 | +€6.3m | +138% |
| Trade debts | 44 | €1,965,514 | €1,767,730 | -€197,784 | -10.1% |
| Suppliers | 440/4 | €1,965,514 | €1,767,730 | -€197,784 | -10.1% |
| Taxes, remuneration and social security | 45 | €2,611,596 | €3,901,447 | +€1.3m | +49.4% |
| Taxes | 450/3 | €1,411,193 | €2,437,431 | +€1.0m | +72.7% |
| Remuneration and social security | 454/9 | €1,200,403 | €1,464,017 | +€263,613 | +22.0% |
| Other amounts payable | 47/48 | €3,181 | €5,213,879 | +€5.2m | +163,803% |
| Accrued charges and deferred income | 492/3 | €56,280 | €65,679 | +€9,399 | +16.7% |
| Operating income | 70/76A | €22,117,289 | €24,704,510 | +€2.6m | +11.7% |
| Turnover | 70 | €21,756,887 | €24,215,308 | +€2.5m | +11.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €105,169 | -€16,755 | -€121,924 | |
| Other operating income | 74 | €250,770 | €503,457 | +€252,687 | +101% |
| Non-recurring operating income | 76A | €4,463 | €2,500 | -€1,963 | -44.0% |
| Operating charges | 60/66A | €19,042,671 | €21,294,947 | +€2.3m | +11.8% |
| Goods for resale, raw materials and consumables | 60 | €2,944,332 | €3,163,202 | +€218,870 | +7.4% |
| Purchases | 600/8 | €2,944,332 | €3,163,202 | +€218,870 | +7.4% |
| Services and other goods | 61 | €5,418,268 | €6,027,584 | +€609,316 | +11.2% |
| Remuneration, social security and pensions | 62 | €8,961,811 | €10,239,136 | +€1.3m | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,656,281 | €1,756,722 | +€100,441 | +6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,429 | €4,380 | -€12,049 | -73.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€26,203 | €0 | +€26,203 | |
| Other operating charges | 640/8 | €71,753 | €103,923 | +€32,170 | +44.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €3,074,619 | €3,409,563 | +€334,945 | +10.9% |
| Financial income | 75/76B | €203,313 | €7 | -€203,306 | -100.0% |
| Recurring financial income | 75 | €203,313 | €7 | -€203,306 | -100.0% |
| Income from current assets | 751 | €201,832 | €0 | -€201,832 | -100% |
| Other financial income | 752/9 | €1,482 | €7 | -€1,475 | -99.5% |
| Financial charges | 65/66B | €7,776 | €197,549 | +€189,773 | +2,441% |
| Recurring financial charges | 65 | €7,097 | €188,101 | +€181,005 | +2,551% |
| Debt charges | 650 | €31 | €184,618 | +€184,587 | +586,921% |
| Other financial charges | 652/9 | €7,065 | €3,483 | -€3,582 | -50.7% |
| Non-recurring financial charges | 66B | €679 | €9,447 | +€8,768 | +1,291% |
| Profit (loss) for the period before taxes | 9903 | €3,270,156 | €3,212,021 | -€58,135 | -1.8% |
| Income taxes | 67/77 | €910,323 | €909,351 | -€971 | -0.1% |
| Taxes | 670/3 | €964,555 | €931,977 | -€32,578 | -3.4% |
| Tax adjustments and reversals of tax provisions | 77 | €54,233 | €22,626 | -€31,607 | -58.3% |
| Profit (loss) for the period | 9904 | €2,359,833 | €2,302,670 | -€57,164 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,359,833 | €2,302,670 | -€57,164 | -2.4% |
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 13 October 2026 via checked.be.