SERVAS: 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.
SERVAS
Largest movements
- Cash +€292,552
up €292,552 (+27.2%), from €1.1m to €1.4m
mainly Receivables within one year (+€275,968) and Net result for the year (+€112,464)
- Receivables within one year -€275,968
down €275,968 (-90.5%), from €304,827 to €28,859
of which Other amounts receivable: -€275,000
- Current investments +€196,700
new in 2025: €196,700
- Financial fixed assets -€97,500
down €97,500 (-66.0%), from €147,808 to €50,308
- Reserves +€112,000
up €112,000 (+8.7%), from €1.3m to €1.4m
of which Distributable reserves: +€112,000
- Gross operating margin -€21,021
down €21,021 (-11.7%), from €179,682 to €158,661
- Financial income -€14,510
down €14,510 (-31.3%), from €46,309 to €31,799
- Taxes -€12,965
down €12,965 (-21.2%), from €61,121 to €48,156
- Staff costs +€8,002
up €8,002 (+120%), from €6,687 to €14,689
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 | €1,563,128 | €1,666,792 | +€103,664 | +6.6% |
| Fixed assets | 21/28 | €165,826 | €58,091 | -€107,735 | -65.0% |
| Tangible fixed assets | 22/27 | €18,018 | €7,783 | -€10,235 | -56.8% |
| Land and buildings | 22 | €6,724 | €4,587 | -€2,137 | -31.8% |
| Plant, machinery and equipment | 23 | €2,639 | €1,748 | -€891 | -33.8% |
| Furniture and vehicles | 24 | €8,655 | €1,448 | -€7,207 | -83.3% |
| Financial fixed assets | 28 | €147,808 | €50,308 | -€97,500 | -66.0% |
| Current assets | 29/58 | €1,397,302 | €1,608,701 | +€211,399 | +15.1% |
| Amounts receivable within one year | 40/41 | €304,827 | €28,859 | -€275,968 | -90.5% |
| Trade receivables | 40 | €29,827 | €28,859 | -€968 | -3.2% |
| Other amounts receivable | 41 | €275,000 | - | -€275,000 | |
| Current investments | 50/53 | - | €196,700 | +€196,700 | |
| Cash at bank and in hand | 54/58 | €1,076,787 | €1,369,339 | +€292,552 | +27.2% |
| Deferred charges and accrued income | 490/1 | €15,688 | €13,803 | -€1,885 | -12.0% |
| Total equity and liabilities | 10/49 | €1,563,128 | €1,666,792 | +€103,664 | +6.6% |
| Equity | 10/15 | €1,542,658 | €1,655,122 | +€112,464 | +7.3% |
| Contributions | 10/11 | €6,215 | €6,215 | = | 0.0% |
| Capital | 10 | €6,215 | €6,215 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,385 | €12,385 | = | 0.0% |
| Reserves | 13 | €1,286,108 | €1,398,108 | +€112,000 | +8.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €551 | €551 | = | 0.0% |
| Distributable reserves | 133 | €1,283,697 | €1,395,697 | +€112,000 | +8.7% |
| Profit (loss) carried forward | 14 | €250,335 | €250,799 | +€464 | +0.2% |
| Amounts payable | 17/49 | €20,470 | €11,670 | -€8,800 | -43.0% |
| Amounts payable within one year | 42/48 | €20,470 | €11,670 | -€8,800 | -43.0% |
| Trade debts | 44 | €441 | €1,473 | +€1,032 | +234% |
| Suppliers | 440/4 | €441 | €1,473 | +€1,032 | +234% |
| Taxes, remuneration and social security | 45 | €20,029 | €10,197 | -€9,832 | -49.1% |
| Taxes | 450/3 | €20,029 | €7,878 | -€12,151 | -60.7% |
| Remuneration and social security | 454/9 | - | €2,319 | +€2,319 | |
| Remuneration, social security and pensions | 62 | €6,687 | €14,689 | +€8,002 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,755 | €11,306 | -€1,449 | -11.4% |
| Other operating charges | 640/8 | €3,325 | €3,203 | -€122 | -3.7% |
| Gross operating margin | 9900 | €179,682 | €158,661 | -€21,021 | -11.7% |
| Operating profit (loss) | 9901 | €156,915 | €129,463 | -€27,452 | -17.5% |
| Financial income | 75/76B | €46,309 | €31,799 | -€14,510 | -31.3% |
| Recurring financial income | 75 | €46,309 | €31,799 | -€14,510 | -31.3% |
| Financial charges | 65/66B | €71 | €642 | +€571 | +804% |
| Recurring financial charges | 65 | €71 | €642 | +€571 | +804% |
| Profit (loss) for the period before taxes | 9903 | €203,153 | €160,620 | -€42,533 | -20.9% |
| Income taxes | 67/77 | €61,121 | €48,156 | -€12,965 | -21.2% |
| Profit (loss) for the period | 9904 | €142,032 | €112,464 | -€29,568 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €142,032 | €112,464 | -€29,568 | -20.8% |
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 18 October 2026 via checked.be.