Impressive Spain remained undefeated and broke Serbia's unbeaten run with a 79-76 triumph to clinch top spot in Group E.
Both teams still made it through to the semi-finals of the U20 European Championship for Women.
|Anna Carbo had a team-high 18 points for Spain.|
Anna Carbo had a game-high 18 points for the Spanish - she connected on six of seven from two point range.
"We were really good in defense but we also showed great confidence in our shots," said Carbo, who poured in 12 first-half points as Spain took a 39-36 half-time lead.
"Against Serbia you cannot make many mistakes because they are a very strong team and it wouldn't surprise me to see them through to the final.
"As for the semi-finals, we hope to meet Turkey and not France, but either way, we will be ready."
Spain's hopes of pulling away in the third quarter were frustrated as the Serbians hit back with a 17-4 surge to take a 53-49 advantage after 27 minutes played.
It was an intense battle, with Spain stepping up their defense and going on a 8-0 run midway through the fourth quarter to take a 67-59 lead, with Maria Pina adding four points in that spurt.
But never-say-die Serbia hit back with two consecutive three-balls and a Tamara Radocaj' layup to make it a one-point game (67-66).
Patricia Arguello's jumper put Spain 71-67 with one minute remaining.
Despite making just three of 17 from long range, Spain were they 28 of 45 (62.2%) from inside the arc while their opponents were 18 of 38 (47.3%).
Zorica Mitov led Serbia in scoring with 17 points -she was six of eight (75%) from the floor.