SERVI DIRECT: 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 DIRECT
Largest movements
- Cash -€117,898
down €117,898 (-18.8%), from €626,993 to €509,095
mainly Investment in fixed assets (net) (-€207,311) and Contributions, distributions and other (-€150,000)
- Tangible fixed assets -€86,556
down €86,556 (-6.1%), from €1.4m to €1.3m
of which Furniture and vehicles: -€165,901
- Receivables within one year +€62,946
up €62,946 (+43.2%), from €145,655 to €208,601
of which Other amounts receivable: +€37,885
- Debts after one year -€141,796
down €141,796 (-16.1%), from €878,737 to €736,941
- Trade debts +€107,767
up €107,767 (+512.9%), from €21,011 to €128,778
- Tax, wage and social debts -€90,427
down €90,427 (-41.8%), from €216,268 to €125,842
of which Taxes: -€86,207
- Reserves -€65,000
down €65,000 (-8.4%), from €772,843 to €707,843
of which Distributable reserves: -€65,000
- Other debts +€28,677
up €28,677 (+4238.7%), from €677 to €29,354
- Gross operating margin -€411,992
down €411,992 (-33.1%), from €1.2m to €832,513
- Financial charges -€74,480
down €74,480 (-68.4%), from €108,847 to €34,367
- Staff costs -€65,576
down €65,576 (-14.7%), from €446,534 to €380,958
- Taxes -€62,907
down €62,907 (-66.2%), from €95,021 to €32,114
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 | €2,227,635 | €2,070,272 | -€157,364 | -7.1% |
| Fixed assets | 21/28 | €1,411,544 | €1,329,987 | -€81,556 | -5.8% |
| Tangible fixed assets | 22/27 | €1,410,449 | €1,323,893 | -€86,556 | -6.1% |
| Land and buildings | 22 | €542,533 | €671,114 | +€128,581 | +23.7% |
| Plant, machinery and equipment | 23 | €270,352 | €221,116 | -€49,236 | -18.2% |
| Furniture and vehicles | 24 | €597,564 | €431,663 | -€165,901 | -27.8% |
| Financial fixed assets | 28 | €1,094 | €6,094 | +€5,000 | +456.9% |
| Current assets | 29/58 | €816,092 | €740,284 | -€75,807 | -9.3% |
| Amounts receivable within one year | 40/41 | €145,655 | €208,601 | +€62,946 | +43.2% |
| Trade receivables | 40 | €145,655 | €170,716 | +€25,061 | +17.2% |
| Other amounts receivable | 41 | - | €37,885 | +€37,885 | |
| Cash at bank and in hand | 54/58 | €626,993 | €509,095 | -€117,898 | -18.8% |
| Deferred charges and accrued income | 490/1 | €43,443 | €22,588 | -€20,855 | -48.0% |
| Total equity and liabilities | 10/49 | €2,227,635 | €2,070,272 | -€157,364 | -7.1% |
| Equity | 10/15 | €889,613 | €829,567 | -€60,046 | -6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €772,843 | €707,843 | -€65,000 | -8.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €770,983 | €705,983 | -€65,000 | -8.4% |
| Profit (loss) carried forward | 14 | €104,369 | €109,323 | +€4,954 | +4.7% |
| Amounts payable | 17/49 | €1,338,023 | €1,240,705 | -€97,318 | -7.3% |
| Amounts payable after more than one year | 17 | €878,737 | €736,941 | -€141,796 | -16.1% |
| Financial debts | 170/4 | €878,737 | €736,941 | -€141,796 | -16.1% |
| Amounts payable within one year | 42/48 | €459,285 | €503,764 | +€44,479 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €221,330 | €219,791 | -€1,539 | -0.7% |
| Trade debts | 44 | €21,011 | €128,778 | +€107,767 | +512.9% |
| Suppliers | 440/4 | €21,011 | €128,778 | +€107,767 | +512.9% |
| Taxes, remuneration and social security | 45 | €216,268 | €125,842 | -€90,427 | -41.8% |
| Taxes | 450/3 | €168,847 | €82,639 | -€86,207 | -51.1% |
| Remuneration and social security | 454/9 | €47,422 | €43,202 | -€4,220 | -8.9% |
| Other amounts payable | 47/48 | €677 | €29,354 | +€28,677 | +4238.7% |
| Remuneration, social security and pensions | 62 | €446,534 | €380,958 | -€65,576 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289,690 | €288,868 | -€822 | -0.3% |
| Other operating charges | 640/8 | €6,729 | €6,252 | -€477 | -7.1% |
| Gross operating margin | 9900 | €1,244,505 | €832,513 | -€411,992 | -33.1% |
| Operating profit (loss) | 9901 | €501,551 | €156,434 | -€345,117 | -68.8% |
| Financial income | 75/76B | €28 | €1 | -€27 | -97.8% |
| Recurring financial income | 75 | €28 | €1 | -€27 | -97.8% |
| Financial charges | 65/66B | €108,847 | €34,367 | -€74,480 | -68.4% |
| Recurring financial charges | 65 | €108,847 | €34,367 | -€74,480 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €392,732 | €122,068 | -€270,664 | -68.9% |
| Income taxes | 67/77 | €95,021 | €32,114 | -€62,907 | -66.2% |
| Profit (loss) for the period | 9904 | €297,711 | €89,954 | -€207,757 | -69.8% |
| Profit (loss) for the period to be appropriated | 9905 | €297,711 | €89,954 | -€207,757 | -69.8% |
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 4 October 2026 via checked.be.