SERVEX: 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.
SERVEX
Largest movements
- Cash +€143,644
up €143,644 (+60.1%), from €238,849 to €382,494
mainly Receivables within one year (+€118,877) and Depreciation (+€11,600)
- Receivables within one year -€118,877
down €118,877 (-42.9%), from €277,163 to €158,285
of which Other amounts receivable: -€62,225
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€278,556
down €278,556 (-29.2%), from €954,004 to €675,448
- Staff costs -€275,846
down €275,846 (-30.2%), from €913,291 to €637,445
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 | €6,977,363 | €6,987,566 | +€10,203 | +0.1% |
| Fixed assets | 21/28 | €6,248,456 | €6,236,856 | -€11,600 | -0.2% |
| Tangible fixed assets | 22/27 | €56,409 | €44,809 | -€11,600 | -20.6% |
| Furniture and vehicles | 24 | €54,387 | €42,787 | -€11,600 | -21.3% |
| Other tangible fixed assets | 26 | €2,022 | €2,022 | = | 0.0% |
| Financial fixed assets | 28 | €6,192,047 | €6,192,047 | = | 0.0% |
| Current assets | 29/58 | €728,907 | €750,710 | +€21,803 | +3.0% |
| Amounts receivable within one year | 40/41 | €277,163 | €158,285 | -€118,877 | -42.9% |
| Trade receivables | 40 | €142,354 | €85,702 | -€56,652 | -39.8% |
| Other amounts receivable | 41 | €134,809 | €72,583 | -€62,225 | -46.2% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €238,849 | €382,494 | +€143,644 | +60.1% |
| Deferred charges and accrued income | 490/1 | €12,895 | €9,931 | -€2,964 | -23.0% |
| Total equity and liabilities | 10/49 | €6,977,363 | €6,987,566 | +€10,203 | +0.1% |
| Equity | 10/15 | €6,686,094 | €6,690,474 | +€4,381 | +0.1% |
| Contributions | 10/11 | €3,736,600 | €3,736,600 | = | 0.0% |
| Reserves | 13 | €2,949,494 | €2,953,874 | +€4,381 | +0.1% |
| Tax-exempt reserves | 132 | €63,563 | €413 | -€63,150 | -99.3% |
| Distributable reserves | 133 | €2,885,930 | €2,953,461 | +€67,531 | +2.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €291,269 | €297,092 | +€5,823 | +2.0% |
| Amounts payable within one year | 42/48 | €291,228 | €297,092 | +€5,864 | +2.0% |
| Trade debts | 44 | €42,982 | €45,257 | +€2,275 | +5.3% |
| Suppliers | 440/4 | €42,982 | €45,257 | +€2,275 | +5.3% |
| Taxes, remuneration and social security | 45 | €81,144 | €75,488 | -€5,656 | -7.0% |
| Taxes | 450/3 | €6,446 | €8,808 | +€2,362 | +36.6% |
| Remuneration and social security | 454/9 | €74,697 | €66,679 | -€8,018 | -10.7% |
| Other amounts payable | 47/48 | €167,102 | €176,347 | +€9,245 | +5.5% |
| Accrued charges and deferred income | 492/3 | €41 | €0 | -€41 | -100.0% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €913,291 | €637,445 | -€275,846 | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,613 | €11,600 | +€7,987 | +221.1% |
| Other operating charges | 640/8 | €2,081 | €2,071 | -€10 | -0.5% |
| Non-recurring operating charges | 66A | - | €1,650 | +€1,650 | |
| Gross operating margin | 9900 | €954,004 | €675,448 | -€278,556 | -29.2% |
| Operating profit (loss) | 9901 | €35,019 | €22,682 | -€12,337 | -35.2% |
| Financial income | 75/76B | €10,965 | €7,435 | -€3,530 | -32.2% |
| Recurring financial income | 75 | €10,965 | €7,435 | -€3,530 | -32.2% |
| Financial charges | 65/66B | €12,849 | €12,327 | -€521 | -4.1% |
| Recurring financial charges | 65 | €12,849 | €12,327 | -€521 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €33,135 | €17,790 | -€15,345 | -46.3% |
| Income taxes | 67/77 | €9,764 | €13,410 | +€3,646 | +37.3% |
| Profit (loss) for the period | 9904 | €23,371 | €4,381 | -€18,991 | -81.3% |
| Transfer from tax-exempt reserves | 789 | €0 | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,371 | €67,531 | +€44,159 | +188.9% |
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.