SERVI-THERM: 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.
SERVI-THERM
Largest movements
- Tangible fixed assets -€21,747
down €21,747 (-17.4%), from €124,636 to €102,889
- Stocks and contracts -€14,103
down €14,103 (-47.5%), from €29,700 to €15,597
- Receivables within one year -€10,418
down €10,418 (-25.2%), from €41,362 to €30,944
of which Trade receivables: -€15,102
- Intangible fixed assets -€4,500
down €4,500 (-35.3%), from €12,750 to €8,250
- Cash +€3,232
up €3,232 (+43.4%), from €7,455 to €10,687
mainly Depreciation (+€26,353) and Stocks and contracts (+€14,103)
- Trade debts -€22,852
down €22,852 (-54.1%), from €42,246 to €19,394
- Debts after one year -€13,536
down €13,536 (-23.8%), from €56,755 to €43,219
- Profit (loss) carried forward -€13,060
down €13,060, from €2,714 to -€10,346
- Gross operating margin -€12,346
down €12,346 (-15.0%), from €82,538 to €70,192
- Depreciation -€6,647
down €6,647 (-20.1%), from €33,000 to €26,353
- Staff costs -€3,087
down €3,087 (-5.5%), from €56,177 to €53,090
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 | €218,163 | €169,766 | -€48,397 | -22.2% |
| Fixed assets | 21/28 | €138,236 | €112,509 | -€25,727 | -18.6% |
| Intangible fixed assets | 21 | €12,750 | €8,250 | -€4,500 | -35.3% |
| Tangible fixed assets | 22/27 | €124,636 | €102,889 | -€21,747 | -17.4% |
| Land and buildings | 22 | €87,070 | €77,362 | -€9,708 | -11.1% |
| Plant, machinery and equipment | 23 | €4,467 | €2,715 | -€1,752 | -39.2% |
| Furniture and vehicles | 24 | €33,099 | €22,812 | -€10,287 | -31.1% |
| Financial fixed assets | 28 | €850 | €1,370 | +€520 | +61.2% |
| Current assets | 29/58 | €79,927 | €57,257 | -€22,670 | -28.4% |
| Stocks and contracts in progress | 3 | €29,700 | €15,597 | -€14,103 | -47.5% |
| Stocks | 30/36 | €29,700 | €15,597 | -€14,103 | -47.5% |
| Amounts receivable within one year | 40/41 | €41,362 | €30,944 | -€10,418 | -25.2% |
| Trade receivables | 40 | €33,926 | €18,824 | -€15,102 | -44.5% |
| Other amounts receivable | 41 | €7,436 | €12,120 | +€4,684 | +63.0% |
| Cash at bank and in hand | 54/58 | €7,455 | €10,687 | +€3,232 | +43.4% |
| Deferred charges and accrued income | 490/1 | €1,410 | €29 | -€1,381 | -97.9% |
| Total equity and liabilities | 10/49 | €218,163 | €169,766 | -€48,397 | -22.2% |
| Equity | 10/15 | €53,923 | €40,863 | -€13,060 | -24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,609 | €32,609 | = | 0.0% |
| Non-distributable reserves | 130/1 | €259 | €259 | = | 0.0% |
| Reserves not available under the articles | 1311 | €259 | €259 | = | 0.0% |
| Distributable reserves | 133 | €32,350 | €32,350 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,714 | -€10,346 | -€13,060 | |
| Amounts payable | 17/49 | €164,240 | €128,903 | -€35,337 | -21.5% |
| Amounts payable after more than one year | 17 | €56,755 | €43,219 | -€13,536 | -23.8% |
| Financial debts | 170/4 | €56,755 | €43,219 | -€13,536 | -23.8% |
| Amounts payable within one year | 42/48 | €107,485 | €85,684 | -€21,801 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €12,961 | €13,523 | +€562 | +4.3% |
| Trade debts | 44 | €42,246 | €19,394 | -€22,852 | -54.1% |
| Suppliers | 440/4 | €42,246 | €19,394 | -€22,852 | -54.1% |
| Advances received on contracts in progress | 46 | €1,415 | - | -€1,415 | |
| Taxes, remuneration and social security | 45 | €11,652 | €11,801 | +€149 | +1.3% |
| Taxes | 450/3 | €398 | €355 | -€43 | -10.8% |
| Remuneration and social security | 454/9 | €11,254 | €11,446 | +€192 | +1.7% |
| Other amounts payable | 47/48 | €39,211 | €40,966 | +€1,755 | +4.5% |
| Remuneration, social security and pensions | 62 | €56,177 | €53,090 | -€3,087 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,000 | €26,353 | -€6,647 | -20.1% |
| Other operating charges | 640/8 | €1,153 | €1,189 | +€36 | +3.1% |
| Gross operating margin | 9900 | €82,538 | €70,192 | -€12,346 | -15.0% |
| Operating profit (loss) | 9901 | -€7,792 | -€10,440 | -€2,648 | -34.0% |
| Financial income | 75/76B | €8 | €226 | +€218 | +2,725% |
| Recurring financial income | 75 | €8 | €226 | +€218 | +2,725% |
| Financial charges | 65/66B | €3,601 | €2,846 | -€755 | -21.0% |
| Recurring financial charges | 65 | €3,601 | €2,846 | -€755 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,385 | -€13,060 | -€1,675 | -14.7% |
| Income taxes | 67/77 | -€319 | - | +€319 | |
| Profit (loss) for the period | 9904 | -€11,066 | -€13,060 | -€1,994 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,066 | -€13,060 | -€1,994 | -18.0% |
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 1 November 2026 via checked.be.