SERV-R: 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.
SERV-R
Largest movements
- Receivables within one year +€233,678
up €233,678 (+25.5%), from €914,606 to €1.1m
of which Trade receivables: +€238,506
- Tangible fixed assets +€198,614
up €198,614 (+214.0%), from €92,812 to €291,426
of which Furniture and vehicles: +€113,435
- Deferred charges and accrued income +€15,176
new in 2025: €15,176
- Trade debts +€174,132
up €174,132 (+173.9%), from €100,148 to €274,280
- Profit (loss) carried forward +€152,785
up €152,785 (+78.0%), from €195,967 to €348,752
- Current portion of long-term debt +€81,886
up €81,886 (+111.7%), from €73,339 to €155,225
- Short-term financial debts +€43,381
up €43,381 (+205.9%), from €21,066 to €64,446
- Debts after one year +€17,251
up €17,251 (+7.1%), from €241,658 to €258,909
- Gross operating margin +€202,869
up €202,869 (+32.1%), from €631,721 to €834,590
- Staff costs +€114,224
up €114,224 (+25.2%), from €453,501 to €567,725
- Taxes -€33,049
down €33,049 (-99.1%), from €33,338 to €289
- Depreciation +€24,484
up €24,484 (+58.7%), from €41,701 to €66,185
- Financial charges +€14,182
up €14,182 (+46.7%), from €30,401 to €44,584
of which Non-recurring financial charges: +€13,831
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.
Cash bridge derived
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 | €1,011,688 | €1,458,513 | +€446,825 | +44.2% |
| Fixed assets | 21/28 | €92,812 | €291,426 | +€198,614 | +214.0% |
| Tangible fixed assets | 22/27 | €92,812 | €291,426 | +€198,614 | +214.0% |
| Land and buildings | 22 | - | €94,500 | +€94,500 | |
| Plant, machinery and equipment | 23 | €40,117 | €30,796 | -€9,321 | -23.2% |
| Furniture and vehicles | 24 | €52,695 | €166,131 | +€113,435 | +215.3% |
| Current assets | 29/58 | €918,876 | €1,167,087 | +€248,211 | +27.0% |
| Stocks and contracts in progress | 3 | €1,400 | €2,548 | +€1,148 | +82.0% |
| Stocks | 30/36 | €1,400 | €2,548 | +€1,148 | +82.0% |
| Amounts receivable within one year | 40/41 | €914,606 | €1,148,284 | +€233,678 | +25.5% |
| Trade receivables | 40 | €717,738 | €956,244 | +€238,506 | +33.2% |
| Other amounts receivable | 41 | €196,868 | €192,040 | -€4,828 | -2.5% |
| Cash at bank and in hand | 54/58 | €2,870 | €1,079 | -€1,791 | -62.4% |
| Deferred charges and accrued income | 490/1 | - | €15,176 | +€15,176 | |
| Total equity and liabilities | 10/49 | €1,011,688 | €1,458,513 | +€446,825 | +44.2% |
| Equity | 10/15 | €216,427 | €369,212 | +€152,785 | +70.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,967 | €348,752 | +€152,785 | +78.0% |
| Amounts payable | 17/49 | €795,262 | €1,089,302 | +€294,040 | +37.0% |
| Amounts payable after more than one year | 17 | €241,658 | €258,909 | +€17,251 | +7.1% |
| Financial debts | 170/4 | €241,658 | €258,909 | +€17,251 | +7.1% |
| Amounts payable within one year | 42/48 | €552,682 | €828,787 | +€276,105 | +50.0% |
| Current portion of amounts payable after more than one year | 42 | €73,339 | €155,225 | +€81,886 | +111.7% |
| Financial debts | 43 | €21,066 | €64,446 | +€43,381 | +205.9% |
| Credit institutions | 430/8 | €21,066 | €64,446 | +€43,381 | +205.9% |
| Trade debts | 44 | €100,148 | €274,280 | +€174,132 | +173.9% |
| Suppliers | 440/4 | €100,148 | €274,280 | +€174,132 | +173.9% |
| Taxes, remuneration and social security | 45 | €121,868 | €111,863 | -€10,004 | -8.2% |
| Taxes | 450/3 | €63,343 | €9,358 | -€53,985 | -85.2% |
| Remuneration and social security | 454/9 | €58,524 | €102,505 | +€43,981 | +75.1% |
| Other amounts payable | 47/48 | €236,262 | €222,973 | -€13,289 | -5.6% |
| Accrued charges and deferred income | 492/3 | €922 | €1,606 | +€684 | +74.2% |
| Remuneration, social security and pensions | 62 | €453,501 | €567,725 | +€114,224 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,701 | €66,185 | +€24,484 | +58.7% |
| Other operating charges | 640/8 | €1,855 | €4,579 | +€2,723 | +146.8% |
| Non-recurring operating charges | 66A | - | €4,009 | +€4,009 | |
| Gross operating margin | 9900 | €631,721 | €834,590 | +€202,869 | +32.1% |
| Operating profit (loss) | 9901 | €134,664 | €192,093 | +€57,429 | +42.6% |
| Financial income | 75/76B | €7,202 | €5,565 | -€1,638 | -22.7% |
| Recurring financial income | 75 | €7,202 | €5,565 | -€1,638 | -22.7% |
| Financial charges | 65/66B | €30,401 | €44,584 | +€14,182 | +46.7% |
| Recurring financial charges | 65 | €30,401 | €30,753 | +€352 | +1.2% |
| Non-recurring financial charges | 66B | - | €13,831 | +€13,831 | |
| Profit (loss) for the period before taxes | 9903 | €111,465 | €153,074 | +€41,609 | +37.3% |
| Income taxes | 67/77 | €33,338 | €289 | -€33,049 | -99.1% |
| Profit (loss) for the period | 9904 | €78,127 | €152,785 | +€74,658 | +95.6% |
| Profit (loss) for the period to be appropriated | 9905 | €78,127 | €152,785 | +€74,658 | +95.6% |
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 11 October 2026 via checked.be.