SERVOSWINNING: 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.
SERVOSWINNING
Largest movements
- Tangible fixed assets -€51,578
down €51,578 (-77.8%), from €66,333 to €14,754
of which Plant, machinery and equipment: -€48,687
- Deferred charges and accrued income -€44,955
down €44,955 (-97.3%), from €46,225 to €1,270
- Receivables within one year +€44,243
up €44,243 (+80.8%), from €54,785 to €99,028
of which Trade receivables: +€45,084
- Stocks and contracts +€3,800
up €3,800 (+353.5%), from €1,075 to €4,875
of which Stocks: +€2,300
- Cash -€2,013
down €2,013 (-49.3%), from €4,081 to €2,068
mainly Receivables within one year (-€44,243) and Other debts (-€31,640)
- Other debts -€31,640
down €31,640 (-78.1%), from €40,498 to €8,858
- Debts after one year -€14,000
no longer reported in 2025 (was €14,000)
- Current portion of long-term debt -€7,000
no longer reported in 2025 (was €7,000)
- Trade debts +€3,980
up €3,980 (+25.1%), from €15,874 to €19,853
- Profit (loss) carried forward -€1,842
down €1,842 (-8.0%), from €23,146 to €21,304
- Gross operating margin -€34,725
down €34,725 (-59.3%), from €58,599 to €23,875
- Depreciation -€5,241
down €5,241 (-18.0%), from €29,117 to €23,876
- Taxes -€4,621
down €4,621 (-95.1%), from €4,861 to €240
- Write-downs -€3,050
no longer reported in 2025 (was €3,050)
- Financial charges -€907
down €907 (-52.6%), from €1,725 to €818
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 | €172,548 | €122,045 | -€50,502 | -29.3% |
| Fixed assets | 21/28 | €66,382 | €14,804 | -€51,578 | -77.7% |
| Tangible fixed assets | 22/27 | €66,333 | €14,754 | -€51,578 | -77.8% |
| Land and buildings | 22 | €2,890 | €2,455 | -€435 | -15.0% |
| Plant, machinery and equipment | 23 | €60,796 | €12,109 | -€48,687 | -80.1% |
| Furniture and vehicles | 24 | €2,647 | €190 | -€2,457 | -92.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €106,165 | €107,241 | +€1,076 | +1.0% |
| Stocks and contracts in progress | 3 | €1,075 | €4,875 | +€3,800 | +353.5% |
| Stocks | 30/36 | €1,075 | €3,375 | +€2,300 | +214.0% |
| Contracts in progress | 37 | - | €1,500 | +€1,500 | |
| Amounts receivable within one year | 40/41 | €54,785 | €99,028 | +€44,243 | +80.8% |
| Trade receivables | 40 | €33,032 | €78,116 | +€45,084 | +136.5% |
| Other amounts receivable | 41 | €21,752 | €20,912 | -€841 | -3.9% |
| Cash at bank and in hand | 54/58 | €4,081 | €2,068 | -€2,013 | -49.3% |
| Deferred charges and accrued income | 490/1 | €46,225 | €1,270 | -€44,955 | -97.3% |
| Total equity and liabilities | 10/49 | €172,548 | €122,045 | -€50,502 | -29.3% |
| Equity | 10/15 | €94,525 | €92,683 | -€1,842 | -1.9% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €64,879 | €64,879 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €62,879 | €62,879 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,146 | €21,304 | -€1,842 | -8.0% |
| Amounts payable | 17/49 | €78,023 | €29,362 | -€48,660 | -62.4% |
| Amounts payable after more than one year | 17 | €14,000 | - | -€14,000 | |
| Financial debts | 170/4 | €14,000 | - | -€14,000 | |
| Amounts payable within one year | 42/48 | €64,023 | €29,362 | -€34,660 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | - | -€7,000 | |
| Trade debts | 44 | €15,874 | €19,853 | +€3,980 | +25.1% |
| Suppliers | 440/4 | €15,874 | €19,853 | +€3,980 | +25.1% |
| Taxes, remuneration and social security | 45 | €651 | €651 | = | 0.0% |
| Taxes | 450/3 | €651 | €651 | = | 0.0% |
| Other amounts payable | 47/48 | €40,498 | €8,858 | -€31,640 | -78.1% |
| Non-recurring operating income | 76A | €38,700 | €2,297 | -€36,403 | -94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,117 | €23,876 | -€5,241 | -18.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,050 | - | -€3,050 | |
| Other operating charges | 640/8 | €1,122 | €801 | -€321 | -28.6% |
| Non-recurring operating charges | 66A | €1,736 | - | -€1,736 | |
| Gross operating margin | 9900 | €58,599 | €23,875 | -€34,725 | -59.3% |
| Operating profit (loss) | 9901 | €23,574 | -€802 | -€24,376 | |
| Financial income | 75/76B | €8 | €17 | +€10 | +131.0% |
| Recurring financial income | 75 | €8 | €17 | +€10 | +131.0% |
| Financial charges | 65/66B | €1,725 | €818 | -€907 | -52.6% |
| Recurring financial charges | 65 | €1,725 | €818 | -€907 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €21,857 | -€1,602 | -€23,459 | |
| Income taxes | 67/77 | €4,861 | €240 | -€4,621 | -95.1% |
| Profit (loss) for the period | 9904 | €16,996 | -€1,842 | -€18,838 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,996 | -€1,842 | -€18,838 |
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 5 October 2026 via checked.be.