SERVI+: what changed
What changed
SERVI+
NACE 38.210, Materials recovery from waste
filed annual accounts (NBB)
Net result for the year
€172,176
2024 · €25,810+€146,366
Equity
€529,861
2024 · €357,685+€172,176
Cash
€331,961
2024 · €151,074+€180,887
Balance sheet total
€633,683
2024 · €447,021+€186,662
Largest movements
Assets
- Cash +€180,887
up €180,887 (+120%), from €151,074 to €331,961
mainly Net result for the year (+€172,176) and Trade debts (+€20,036)
- Tangible fixed assets -€21,094
down €21,094 (-34.9%), from €60,410 to €39,316
of which Furniture and vehicles: -€19,290
- Receivables within one year +€17,844
up €17,844 (+7.7%), from €232,260 to €250,104
of which Trade receivables: +€17,844
- Deferred charges and accrued income +€9,025
up €9,025 (+275%), from €3,277 to €12,302
Equity and liabilities
- Profit (loss) carried forward +€172,176
up €172,176 (+55.8%), from €308,775 to €480,951
- Trade debts +€20,036
up €20,036 (+360%), from €5,567 to €25,603
Income statement
- Gross operating margin +€239,352
up €239,352 (+28.0%), from €855,843 to €1.1m
- Staff costs +€94,093
up €94,093 (+11.6%), from €814,571 to €908,664
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€25,810
Gross operating margin
+€239,352
Staff costs
-€94,093
Depreciation
+€680
Other operating charges
+€369
Financial income
+€242
Financial charges
-€377
Taxes
+€193
Result 2025
€172,176
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€169,964
Investment
+€10,923
Financing
€0
Cash 2024
€151,074
From operations (derived)
+€169,964
Net result for the year
+€172,176
Depreciation
+€10,171
Receivables within one year
-€17,844
Deferred charges and accrued income
-€9,025
Trade debts
+€20,036
Tax, wage and social debts
-€5,550
Investment (derived)
+€10,923
Investment in fixed assets (net)
+€10,923
Cash 2025
€331,961
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €447,021 | €633,683 | +€186,662 | +41.8% |
| Fixed assets | 21/28 | €60,410 | €39,316 | -€21,094 | -34.9% |
| Tangible fixed assets | 22/27 | €60,410 | €39,316 | -€21,094 | -34.9% |
| Plant, machinery and equipment | 23 | €577 | - | -€577 | |
| Furniture and vehicles | 24 | €53,419 | €34,129 | -€19,290 | -36.1% |
| Other tangible fixed assets | 26 | €6,414 | €5,187 | -€1,227 | -19.1% |
| Current assets | 29/58 | €386,611 | €594,367 | +€207,756 | +53.7% |
| Amounts receivable within one year | 40/41 | €232,260 | €250,104 | +€17,844 | +7.7% |
| Trade receivables | 40 | €172,330 | €190,174 | +€17,844 | +10.4% |
| Other amounts receivable | 41 | €59,930 | €59,930 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €151,074 | €331,961 | +€180,887 | +120% |
| Deferred charges and accrued income | 490/1 | €3,277 | €12,302 | +€9,025 | +275% |
| Total equity and liabilities | 10/49 | €447,021 | €633,683 | +€186,662 | +41.8% |
| Equity | 10/15 | €357,685 | €529,861 | +€172,176 | +48.1% |
| Contributions | 10/11 | €46,810 | €46,810 | = | 0.0% |
| Capital | 10 | - | €6,200 | +€6,200 | |
| Issued capital | 100 | - | €6,200 | +€6,200 | |
| Contributions outside capital | 11 | €46,810 | €40,610 | -€6,200 | -13.2% |
| Other | 1109/19 | €46,810 | €40,610 | -€6,200 | -13.2% |
| Reserves | 13 | €2,100 | €2,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Legal reserve | 130 | €2,100 | €2,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €308,775 | €480,951 | +€172,176 | +55.8% |
| Amounts payable | 17/49 | €89,336 | €103,822 | +€14,486 | +16.2% |
| Amounts payable within one year | 42/48 | €89,336 | €103,822 | +€14,486 | +16.2% |
| Trade debts | 44 | €5,567 | €25,603 | +€20,036 | +360% |
| Suppliers | 440/4 | €5,567 | €25,603 | +€20,036 | +360% |
| Taxes, remuneration and social security | 45 | €83,769 | €78,219 | -€5,550 | -6.6% |
| Taxes | 450/3 | €11,007 | €8,007 | -€3,000 | -27.3% |
| Remuneration and social security | 454/9 | €72,762 | €70,212 | -€2,550 | -3.5% |
| Remuneration, social security and pensions | 62 | €814,571 | €908,664 | +€94,093 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,851 | €10,171 | -€680 | -6.3% |
| Other operating charges | 640/8 | €4,246 | €3,877 | -€369 | -8.7% |
| Gross operating margin | 9900 | €855,843 | €1,095,195 | +€239,352 | +28.0% |
| Operating profit (loss) | 9901 | €26,175 | €172,483 | +€146,308 | +559% |
| Financial income | 75/76B | €964 | €1,206 | +€242 | +25.1% |
| Recurring financial income | 75 | €964 | €1,206 | +€242 | +25.1% |
| Financial charges | 65/66B | €779 | €1,156 | +€377 | +48.4% |
| Recurring financial charges | 65 | €779 | €1,156 | +€377 | +48.4% |
| Profit (loss) for the period before taxes | 9903 | €26,360 | €172,533 | +€146,173 | +555% |
| Income taxes | 67/77 | €550 | €357 | -€193 | -35.1% |
| Profit (loss) for the period | 9904 | €25,810 | €172,176 | +€146,366 | +567% |
| Profit (loss) for the period to be appropriated | 9905 | €25,810 | €172,176 | +€146,366 | +567% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.