SERVI: 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.
SERVI
Largest movements
- Current investments +€451,485
up €451,485 (+170.3%), from €265,118 to €716,603
- Cash -€220,311
down €220,311 (-86.4%), from €255,112 to €34,802
mainly Current investments (-€451,485) and Trade debts (-€87,911)
- Receivables within one year -€127,011
down €127,011 (-91.5%), from €138,868 to €11,857
of which Trade receivables: -€127,011
- Deferred charges and accrued income +€50,015
up €50,015 (+7717.5%), from €648 to €50,663
- Tangible fixed assets -€26,851
down €26,851 (-10.3%), from €260,359 to €233,508
of which Furniture and vehicles: -€28,143
- Short-term financial debts +€101,548
new in 2025: €101,548
- Trade debts -€87,911
down €87,911 (-95.9%), from €91,711 to €3,801
- Advances received +€60,500
new in 2025: €60,500
- Reserves +€44,950
up €44,950 (+13.8%), from €325,095 to €370,045
of which Distributable reserves: +€44,950
- Gross operating margin +€53,895
up €53,895 (+114.9%), from €46,910 to €100,805
- Taxes +€21,641
up €21,641 (+1127.4%), from €1,920 to €23,560
- Financial income +€13,521
up €13,521 (+297.4%), from €4,546 to €18,067
- Depreciation +€3,769
up €3,769 (+8.7%), from €43,334 to €47,103
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 | €920,105 | €1,047,433 | +€127,328 | +13.8% |
| Fixed assets | 21/28 | €260,359 | €233,508 | -€26,851 | -10.3% |
| Tangible fixed assets | 22/27 | €260,359 | €233,508 | -€26,851 | -10.3% |
| Land and buildings | 22 | €162,658 | €148,027 | -€14,631 | -9.0% |
| Plant, machinery and equipment | 23 | €4,098 | €20,021 | +€15,923 | +388.5% |
| Furniture and vehicles | 24 | €93,603 | €65,461 | -€28,143 | -30.1% |
| Current assets | 29/58 | €659,746 | €813,925 | +€154,178 | +23.4% |
| Amounts receivable within one year | 40/41 | €138,868 | €11,857 | -€127,011 | -91.5% |
| Trade receivables | 40 | €137,424 | €10,413 | -€127,011 | -92.4% |
| Other amounts receivable | 41 | €1,444 | €1,444 | = | 0.0% |
| Current investments | 50/53 | €265,118 | €716,603 | +€451,485 | +170.3% |
| Cash at bank and in hand | 54/58 | €255,112 | €34,802 | -€220,311 | -86.4% |
| Deferred charges and accrued income | 490/1 | €648 | €50,663 | +€50,015 | +7717.5% |
| Total equity and liabilities | 10/49 | €920,105 | €1,047,433 | +€127,328 | +13.8% |
| Equity | 10/15 | €797,009 | €841,959 | +€44,950 | +5.6% |
| Contributions | 10/11 | €353,248 | €353,248 | = | 0.0% |
| Capital | 10 | €353,248 | €353,248 | = | 0.0% |
| Issued capital | 100 | €353,248 | €353,248 | = | 0.0% |
| Reserves | 13 | €325,095 | €370,045 | +€44,950 | +13.8% |
| Non-distributable reserves | 130/1 | €23,037 | €23,037 | = | 0.0% |
| Legal reserve | 130 | €23,037 | €23,037 | = | 0.0% |
| Distributable reserves | 133 | €302,058 | €347,008 | +€44,950 | +14.9% |
| Profit (loss) carried forward | 14 | €118,665 | €118,665 | = | 0.0% |
| Amounts payable | 17/49 | €123,097 | €205,474 | +€82,377 | +66.9% |
| Amounts payable within one year | 42/48 | €122,847 | €202,909 | +€80,062 | +65.2% |
| Financial debts | 43 | - | €101,548 | +€101,548 | |
| Credit institutions | 430/8 | - | €101,548 | +€101,548 | |
| Trade debts | 44 | €91,711 | €3,801 | -€87,911 | -95.9% |
| Suppliers | 440/4 | €91,711 | €3,801 | -€87,911 | -95.9% |
| Advances received on contracts in progress | 46 | - | €60,500 | +€60,500 | |
| Taxes, remuneration and social security | 45 | €13,347 | €21,148 | +€7,800 | +58.4% |
| Taxes | 450/3 | €13,347 | €21,148 | +€7,800 | +58.4% |
| Other amounts payable | 47/48 | €17,788 | €15,913 | -€1,875 | -10.5% |
| Accrued charges and deferred income | 492/3 | €250 | €2,565 | +€2,315 | +926.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,334 | €47,103 | +€3,769 | +8.7% |
| Other operating charges | 640/8 | €2,509 | €3,055 | +€546 | +21.8% |
| Gross operating margin | 9900 | €46,910 | €100,805 | +€53,895 | +114.9% |
| Operating profit (loss) | 9901 | €1,068 | €50,647 | +€49,580 | +4643.5% |
| Financial income | 75/76B | €4,546 | €18,067 | +€13,521 | +297.4% |
| Recurring financial income | 75 | €4,546 | €18,067 | +€13,521 | +297.4% |
| Financial charges | 65/66B | €0 | €204 | +€204 | +2040200.0% |
| Recurring financial charges | 65 | €0 | €204 | +€204 | +2040200.0% |
| Profit (loss) for the period before taxes | 9903 | €5,614 | €68,511 | +€62,897 | +1120.4% |
| Income taxes | 67/77 | €1,920 | €23,560 | +€21,641 | +1127.4% |
| Profit (loss) for the period | 9904 | €3,694 | €44,950 | +€41,256 | +1116.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,694 | €44,950 | +€41,256 | +1116.8% |
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 30 September 2026 via checked.be.