Serve & Trade: 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.
Serve & Trade
Largest movements
- Receivables within one year +€8,277
up €8,277 (+60.6%), from €13,659 to €21,935
of which Other amounts receivable: +€15,709
- Cash +€4,285
new in 2026: €4,285
mainly Short-term financial debts (+€19,101) and Trade debts (+€15,807)
- Deferred charges and accrued income -€3,931
down €3,931 (-62.0%), from €6,343 to €2,413
- Stocks and contracts +€2,472
up €2,472 (+8.5%), from €29,080 to €31,552
- Tangible fixed assets +€1,089
up €1,089 (+23.5%), from €4,638 to €5,727
- Debts after one year -€27,360
no longer reported in 2026 (was €27,360)
- Short-term financial debts +€19,101
up €19,101 (+324%), from €5,899 to €25,000
- Trade debts +€15,807
up €15,807 (+19,969%), from €79 to €15,886
- Reserves +€3,310
up €3,310 (+17.0%), from €19,422 to €22,732
- Tax, wage and social debts +€2,003
up €2,003 (+35.0%), from €5,715 to €7,717
- Gross operating margin +€5,422
up €5,422 (+42.4%), from €12,783 to €18,205
- Financial charges +€2,195
up €2,195 (+39.1%), from €5,608 to €7,803
of which Financial charges: +€4,408
- Depreciation +€1,824
up €1,824 (+239%), from €763 to €2,588
- Taxes +€1,322
up €1,322 (+68.4%), from €1,932 to €3,255
- Other operating charges +€991
up €991 (+192%), from €515 to €1,507
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,474 | €71,336 | +€12,861 | +22.0% |
| Fixed assets | 21/28 | €9,393 | €11,152 | +€1,759 | +18.7% |
| Tangible fixed assets | 22/27 | €4,638 | €5,727 | +€1,089 | +23.5% |
| Plant, machinery and equipment | 23 | €4,638 | €5,727 | +€1,089 | +23.5% |
| Financial fixed assets | 28 | €4,755 | €5,425 | +€670 | +14.1% |
| Current assets | 29/58 | €49,082 | €60,184 | +€11,102 | +22.6% |
| Stocks and contracts in progress | 3 | €29,080 | €31,552 | +€2,472 | +8.5% |
| Stocks | 30/36 | €29,080 | €31,552 | +€2,472 | +8.5% |
| Amounts receivable within one year | 40/41 | €13,659 | €21,935 | +€8,277 | +60.6% |
| Trade receivables | 40 | €13,578 | €6,146 | -€7,432 | -54.7% |
| Other amounts receivable | 41 | €80 | €15,789 | +€15,709 | +19,528% |
| Cash at bank and in hand | 54/58 | - | €4,285 | +€4,285 | |
| Deferred charges and accrued income | 490/1 | €6,343 | €2,413 | -€3,931 | -62.0% |
| Total equity and liabilities | 10/49 | €58,474 | €71,336 | +€12,861 | +22.0% |
| Equity | 10/15 | €19,422 | €22,732 | +€3,310 | +17.0% |
| Reserves | 13 | €19,422 | €22,732 | +€3,310 | +17.0% |
| Distributable reserves | 133 | €19,422 | €22,732 | +€3,310 | +17.0% |
| Amounts payable | 17/49 | €39,052 | €48,604 | +€9,552 | +24.5% |
| Amounts payable after more than one year | 17 | €27,360 | - | -€27,360 | |
| Other amounts payable | 178/9 | €27,360 | - | -€27,360 | |
| Amounts payable within one year | 42/48 | €11,693 | €48,604 | +€36,911 | +316% |
| Financial debts | 43 | €5,899 | €25,000 | +€19,101 | +324% |
| Credit institutions | 430/8 | €5,899 | €25,000 | +€19,101 | +324% |
| Trade debts | 44 | €79 | €15,886 | +€15,807 | +19,969% |
| Suppliers | 440/4 | €79 | €15,886 | +€15,807 | +19,969% |
| Taxes, remuneration and social security | 45 | €5,715 | €7,717 | +€2,003 | +35.0% |
| Taxes | 450/3 | €5,715 | €7,717 | +€2,003 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €763 | €2,588 | +€1,824 | +239% |
| Other operating charges | 640/8 | €515 | €1,507 | +€991 | +192% |
| Gross operating margin | 9900 | €12,783 | €18,205 | +€5,422 | +42.4% |
| Operating profit (loss) | 9901 | €11,504 | €14,111 | +€2,607 | +22.7% |
| Financial income | 75/76B | €96 | €256 | +€160 | +166% |
| Recurring financial income | 75 | €96 | €256 | +€160 | +166% |
| Financial charges | 65/66B | €5,608 | €7,803 | +€2,195 | +39.1% |
| Recurring financial charges | 65 | €3,358 | €7,766 | +€4,408 | +131% |
| Non-recurring financial charges | 66B | €2,250 | €37 | -€2,213 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €5,993 | €6,564 | +€571 | +9.5% |
| Income taxes | 67/77 | €1,932 | €3,255 | +€1,322 | +68.4% |
| Profit (loss) for the period | 9904 | €4,061 | €3,310 | -€751 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,061 | €3,310 | -€751 | -18.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.