SERVING: 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.
SERVING
Largest movements
- Stocks and contracts +€305,480
up €305,480 (+108.2%), from €282,302 to €587,782
- Cash +€32,168
up €32,168 (+483.8%), from €6,649 to €38,817
mainly Debts after one year (+€295,000) and Other debts (+€26,858)
- Debts after one year +€295,000
up €295,000 (+53.6%), from €550,000 to €845,000
- Other debts +€26,858
up €26,858 (+295.8%), from €9,079 to €35,938
- Profit (loss) carried forward +€10,278
up €10,278 (+15.8%), from -€64,888 to -€54,610
- Gross operating margin -€7,468
down €7,468 (-28.0%), from €26,686 to €19,218
- Depreciation -€1,229
down €1,229 (-24.3%), from €5,067 to €3,838
- Other operating charges +€321
up €321 (+6.9%), from €4,676 to €4,996
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 | €605,985 | €937,976 | +€331,991 | +54.8% |
| Fixed assets | 21/28 | €313,871 | €310,033 | -€3,838 | -1.2% |
| Tangible fixed assets | 22/27 | €313,871 | €310,033 | -€3,838 | -1.2% |
| Land and buildings | 22 | €313,871 | €310,033 | -€3,838 | -1.2% |
| Current assets | 29/58 | €292,114 | €627,944 | +€335,829 | +115.0% |
| Stocks and contracts in progress | 3 | €282,302 | €587,782 | +€305,480 | +108.2% |
| Stocks | 30/36 | €282,302 | €587,782 | +€305,480 | +108.2% |
| Amounts receivable within one year | 40/41 | €189 | €0 | -€189 | -100.0% |
| Other amounts receivable | 41 | €189 | €0 | -€189 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,649 | €38,817 | +€32,168 | +483.8% |
| Deferred charges and accrued income | 490/1 | €2,974 | €1,344 | -€1,630 | -54.8% |
| Total equity and liabilities | 10/49 | €605,985 | €937,976 | +€331,991 | +54.8% |
| Equity | 10/15 | €46,612 | €56,890 | +€10,278 | +22.1% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €46,500 | €46,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,888 | -€54,610 | +€10,278 | +15.8% |
| Amounts payable | 17/49 | €559,374 | €881,087 | +€321,713 | +57.5% |
| Amounts payable after more than one year | 17 | €550,000 | €845,000 | +€295,000 | +53.6% |
| Other amounts payable | 178/9 | €550,000 | €845,000 | +€295,000 | +53.6% |
| Amounts payable within one year | 42/48 | €9,374 | €36,087 | +€26,713 | +285.0% |
| Trade debts | 44 | €126 | €0 | -€126 | -100.0% |
| Suppliers | 440/4 | €126 | €0 | -€126 | -100.0% |
| Taxes, remuneration and social security | 45 | €169 | €149 | -€20 | -11.6% |
| Taxes | 450/3 | €169 | €149 | -€20 | -11.6% |
| Other amounts payable | 47/48 | €9,079 | €35,938 | +€26,858 | +295.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,067 | €3,838 | -€1,229 | -24.3% |
| Other operating charges | 640/8 | €4,676 | €4,996 | +€321 | +6.9% |
| Gross operating margin | 9900 | €26,686 | €19,218 | -€7,468 | -28.0% |
| Operating profit (loss) | 9901 | €16,943 | €10,383 | -€6,560 | -38.7% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €16,914 | €10,353 | -€6,561 | -38.8% |
| Income taxes | 67/77 | €74 | €75 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | €16,840 | €10,278 | -€6,562 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,840 | €10,278 | -€6,562 | -39.0% |
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 28 September 2026 via checked.be.