SERVAIS: what changed
Two fiscal 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
SERVAIS
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€74,673
2024 · -€56,650-€18,023
Equity
€3.0m
2024 · €3.1m-€74,673
Cash
€354,756
2024 · €392,868-€38,112
Balance sheet total
€8.9m
2024 · €9.0m-€89,471
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€716,345
up €716,345 (+128.6%), from €557,004 to €1.3m
- Debts after one year -€528,635
down €528,635 (-12.0%), from €4.4m to €3.9m
- Trade debts -€101,076
down €101,076 (-45.8%), from €220,516 to €119,440
Income statement
- Gross operating margin +€76,489
up €76,489 (+15.2%), from €502,409 to €578,898
- Depreciation +€39,156
up €39,156 (+10.9%), from €359,228 to €398,384
- Other operating charges -€6,222
down €6,222 (-4.8%), from €129,343 to €123,121
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
-€56,650
Gross operating margin
+€76,489
Depreciation
-€39,156
Other operating charges
+€6,222
Other operating items
-€56,312
Financial income
-€1,286
Financial charges
-€3,981
Result 2025
-€74,673
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.
From operations
+€798,480
Investment
-€308,677
Financing
-€527,916
Cash 2024
€392,868
From operations (derived)
+€798,480
Net result for the year
-€74,673
Depreciation
+€398,384
Receivables within one year
-€28,973
Deferred charges and accrued income
-€9,376
Provisions
-€4,756
Trade debts
-€101,076
Tax, wage and social debts
-€43,519
Other debts
+€716,345
Accrued charges and deferred income
-€53,875
Investment (derived)
-€308,677
Investment in fixed assets (net)
-€308,677
Financing
-€527,916
Debts after one year
-€528,635
Current portion of long-term debt
+€719
Cash 2025
€354,756
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,982,466 | €8,892,995 | -€89,471 | -1.0% |
| Fixed assets | 21/28 | €8,459,787 | €8,370,080 | -€89,708 | -1.1% |
| Tangible fixed assets | 22/27 | €8,459,787 | €8,370,080 | -€89,708 | -1.1% |
| Land and buildings | 22 | €8,443,087 | €8,361,705 | -€81,382 | -1.0% |
| Plant, machinery and equipment | 23 | €16,700 | €8,375 | -€8,326 | -49.9% |
| Current assets | 29/58 | €522,678 | €522,915 | +€237 | 0.0% |
| Amounts receivable within one year | 40/41 | €129,568 | €158,541 | +€28,973 | +22.4% |
| Trade receivables | 40 | €99,677 | €111,263 | +€11,586 | +11.6% |
| Other amounts receivable | 41 | €29,891 | €47,278 | +€17,387 | +58.2% |
| Cash at bank and in hand | 54/58 | €392,868 | €354,756 | -€38,112 | -9.7% |
| Deferred charges and accrued income | 490/1 | €243 | €9,619 | +€9,376 | +3865.5% |
| Total equity and liabilities | 10/49 | €8,982,466 | €8,892,995 | -€89,471 | -1.0% |
| Equity | 10/15 | €3,053,606 | €2,978,933 | -€74,673 | -2.4% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Capital | 10 | €3,500,000 | €3,500,000 | = | 0.0% |
| Issued capital | 100 | €3,500,000 | €3,500,000 | = | 0.0% |
| Reserves | 13 | €158,677 | €144,407 | -€14,269 | -9.0% |
| Non-distributable reserves | 130/1 | €7,379 | €7,379 | = | 0.0% |
| Legal reserve | 130 | €7,379 | €7,379 | = | 0.0% |
| Tax-exempt reserves | 132 | €151,298 | €137,029 | -€14,269 | -9.4% |
| Profit (loss) carried forward | 14 | -€605,070 | -€665,474 | -€60,404 | -10.0% |
| Provisions and deferred taxes | 16 | €50,433 | €45,676 | -€4,756 | -9.4% |
| Deferred taxes | 168 | €50,433 | €45,676 | -€4,756 | -9.4% |
| Amounts payable | 17/49 | €5,878,427 | €5,868,386 | -€10,041 | -0.2% |
| Amounts payable after more than one year | 17 | €4,398,538 | €3,869,904 | -€528,635 | -12.0% |
| Financial debts | 170/4 | €4,398,538 | €3,869,904 | -€528,635 | -12.0% |
| Amounts payable within one year | 42/48 | €1,368,733 | €1,941,202 | +€572,469 | +41.8% |
| Current portion of amounts payable after more than one year | 42 | €527,916 | €528,635 | +€719 | +0.1% |
| Trade debts | 44 | €220,516 | €119,440 | -€101,076 | -45.8% |
| Suppliers | 440/4 | €220,516 | €119,440 | -€101,076 | -45.8% |
| Taxes, remuneration and social security | 45 | €63,297 | €19,778 | -€43,519 | -68.8% |
| Taxes | 450/3 | €63,297 | €19,778 | -€43,519 | -68.8% |
| Other amounts payable | 47/48 | €557,004 | €1,273,349 | +€716,345 | +128.6% |
| Accrued charges and deferred income | 492/3 | €111,155 | €57,280 | -€53,875 | -48.5% |
| Non-recurring operating income | 76A | - | €5,389 | +€5,389 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €359,228 | €398,384 | +€39,156 | +10.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,462 | €4,462 | = | 0.0% |
| Other operating charges | 640/8 | €129,343 | €123,121 | -€6,222 | -4.8% |
| Non-recurring operating charges | 66A | - | €56,312 | +€56,312 | |
| Gross operating margin | 9900 | €502,409 | €578,898 | +€76,489 | +15.2% |
| Operating profit (loss) | 9901 | €9,375 | -€3,382 | -€12,756 | |
| Financial income | 75/76B | €1,557 | €271 | -€1,286 | -82.6% |
| Recurring financial income | 75 | €1,557 | €271 | -€1,286 | -82.6% |
| Financial charges | 65/66B | €72,338 | €76,319 | +€3,981 | +5.5% |
| Recurring financial charges | 65 | €72,338 | €76,319 | +€3,981 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | -€61,406 | -€79,430 | -€18,023 | -29.4% |
| Transfer from deferred taxes | 780 | €4,756 | €4,756 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€56,650 | -€74,673 | -€18,023 | -31.8% |
| Transfer from tax-exempt reserves | 789 | €14,269 | €14,269 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,381 | -€60,404 | -€18,023 | -42.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.