SERVICE PARTNERS: 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.
What changed
SERVICE PARTNERS
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€622,961
2024 · €840,220-€217,259
Equity
€10.4m
2024 · €9.8m+€622,961
Cash
€40,778
2024 · €17,871+€22,907
Balance sheet total
€15.3m
2024 · €17.1m-€1.9m
Largest movements
Assets
- Current investments -€1.9m
down €1.9m (-89.9%), from €2.1m to €211,002
- Receivables after one year +€225,902
up €225,902 (+18.2%), from €1.2m to €1.5m
- Tangible fixed assets -€173,165
down €173,165 (-6.9%), from €2.5m to €2.3m
of which Land and buildings: -€174,512
Equity and liabilities
- Debts after one year -€2.4m
down €2.4m (-34.2%), from €7.2m to €4.7m
- Reserves +€622,961
up €622,961 (+30.6%), from €2.0m to €2.7m
of which Distributable reserves: +€657,312
Income statement
- Gross operating margin +€925,588
up €925,588 (+476%), from €194,518 to €1.1m
- Financial income -€918,367
down €918,367 (-86.1%), from €1.1m to €148,698
- Taxes +€173,628
up €173,628 (+122%), from €142,865 to €316,493
- Financial charges +€44,631
up €44,631 (+34.9%), from €127,720 to €172,351
of which Financial charges: +€44,631
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.
Result 2024
€840,220
Gross operating margin
+€925,588
Depreciation
-€891
Other operating charges
-€5,330
Financial income
-€918,367
Financial charges
-€44,631
Taxes
-€173,628
Result 2025
€622,961
raises the resultlowers the result
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.
From operations
+€503,354
Investment
+€2.0m
Financing
-€2.4m
Cash 2024
€17,871
From operations (derived)
+€503,354
Net result for the year
+€622,961
Depreciation
+€115,534
Receivables after one year
-€225,902
Receivables within one year
-€75,179
Deferred charges and accrued income
+€126,556
Smaller working-capital items
-€563
Tax, wage and social debts
-€13,708
Other debts
-€30,949
Accrued charges and deferred income
-€15,396
Investment (derived)
+€2.0m
Investment in fixed assets (net)
+€88,380
Current investments
+€1.9m
Financing
-€2.4m
Debts after one year
-€2.4m
Cash 2025
€40,778
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,144,121 | €15,257,228 | -€1.9m | -11.0% |
| Fixed assets | 21/28 | €13,459,829 | €13,255,914 | -€203,915 | -1.5% |
| Tangible fixed assets | 22/27 | €2,517,057 | €2,343,892 | -€173,165 | -6.9% |
| Land and buildings | 22 | €2,505,597 | €2,331,086 | -€174,512 | -7.0% |
| Furniture and vehicles | 24 | €11,460 | €12,806 | +€1,347 | +11.8% |
| Financial fixed assets | 28 | €10,942,772 | €10,912,022 | -€30,749 | -0.3% |
| Current assets | 29/58 | €3,684,292 | €2,001,314 | -€1.7m | -45.7% |
| Amounts receivable after more than one year | 29 | €1,241,591 | €1,467,493 | +€225,902 | +18.2% |
| Other amounts receivable | 291 | €1,241,591 | €1,467,493 | +€225,902 | +18.2% |
| Amounts receivable within one year | 40/41 | €90,000 | €165,179 | +€75,179 | +83.5% |
| Trade receivables | 40 | €0 | €1,191 | +€1,191 | |
| Other amounts receivable | 41 | €90,000 | €163,988 | +€73,988 | +82.2% |
| Current investments | 50/53 | €2,091,412 | €211,002 | -€1.9m | -89.9% |
| Cash at bank and in hand | 54/58 | €17,871 | €40,778 | +€22,907 | +128% |
| Deferred charges and accrued income | 490/1 | €243,418 | €116,862 | -€126,556 | -52.0% |
| Total equity and liabilities | 10/49 | €17,144,121 | €15,257,228 | -€1.9m | -11.0% |
| Equity | 10/15 | €9,774,090 | €10,397,051 | +€622,961 | +6.4% |
| Contributions | 10/11 | €2,920,332 | €2,920,332 | = | 0.0% |
| Capital | 10 | €2,919,995 | €2,919,995 | = | 0.0% |
| Issued capital | 100 | €2,919,995 | €2,919,995 | = | 0.0% |
| Contributions outside capital | 11 | €336 | €336 | = | 0.0% |
| Share premium | 1100/10 | €336 | €336 | = | 0.0% |
| Reserves | 13 | €2,035,050 | €2,658,011 | +€622,961 | +30.6% |
| Non-distributable reserves | 130/1 | €292,000 | €292,000 | = | 0.0% |
| Legal reserve | 130 | €292,000 | €292,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €134,373 | €100,022 | -€34,351 | -25.6% |
| Distributable reserves | 133 | €1,608,677 | €2,265,989 | +€657,312 | +40.9% |
| Profit (loss) carried forward | 14 | €4,818,709 | €4,818,709 | = | 0.0% |
| Provisions and deferred taxes | 16 | €19,045 | €16,407 | -€2,638 | -13.9% |
| Deferred taxes | 168 | €19,045 | €16,407 | -€2,638 | -13.9% |
| Amounts payable | 17/49 | €7,350,986 | €4,843,770 | -€2.5m | -34.1% |
| Amounts payable after more than one year | 17 | €7,170,193 | €4,720,955 | -€2.4m | -34.2% |
| Other amounts payable | 178/9 | €7,170,193 | €4,720,955 | -€2.4m | -34.2% |
| Amounts payable within one year | 42/48 | €55,630 | €13,048 | -€42,582 | -76.5% |
| Trade debts | 44 | €9,996 | €12,070 | +€2,075 | +20.8% |
| Suppliers | 440/4 | €9,996 | €12,070 | +€2,075 | +20.8% |
| Taxes, remuneration and social security | 45 | €13,708 | €0 | -€13,708 | -100% |
| Taxes | 450/3 | €13,708 | €0 | -€13,708 | -100% |
| Other amounts payable | 47/48 | €31,926 | €978 | -€30,949 | -96.9% |
| Accrued charges and deferred income | 492/3 | €125,163 | €109,767 | -€15,396 | -12.3% |
| Non-recurring operating income | 76A | - | €992,325 | +€992,325 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,643 | €115,534 | +€891 | +0.8% |
| Other operating charges | 640/8 | €38,773 | €44,103 | +€5,330 | +13.7% |
| Gross operating margin | 9900 | €194,518 | €1,120,106 | +€925,588 | +476% |
| Operating profit (loss) | 9901 | €41,102 | €960,469 | +€919,367 | +2,237% |
| Financial income | 75/76B | €1,067,065 | €148,698 | -€918,367 | -86.1% |
| Recurring financial income | 75 | €1,067,065 | €148,698 | -€918,367 | -86.1% |
| Financial charges | 65/66B | €127,720 | €172,351 | +€44,631 | +34.9% |
| Recurring financial charges | 65 | €127,720 | €172,351 | +€44,631 | +34.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €980,447 | €936,816 | -€43,631 | -4.5% |
| Transfer from deferred taxes | 780 | €2,638 | €2,638 | +€0 | 0.0% |
| Income taxes | 67/77 | €142,865 | €316,493 | +€173,628 | +122% |
| Profit (loss) for the period | 9904 | €840,220 | €622,961 | -€217,259 | -25.9% |
| Transfer from tax-exempt reserves | 789 | €9,296 | €34,351 | +€25,055 | +270% |
| Profit (loss) for the period to be appropriated | 9905 | €849,517 | €657,312 | -€192,204 | -22.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.