Trailing by a point at half-time, tournament MVP Nikola Miskovic started the Serbian charge with the first five points of the second half, as Serbia outscored Spain 21-11 in the third quarter to set up the championship victory - giving them their first title at this level since 2009.
Miskovic was joined in the All-Star Five by Sergi Martinez from runners-up Spain; bronze-medalist Arnas Velicka of Lithuania; Turkey's Ragip Berke Atar; and tournament leading scorer Sani Campara, from Bosnia and Herzegovina.
Meanwhile, there was disappointment for Slovenia and hosts Slovak Republic, who were relegated to Division B for 2018. Latvia, who finished in 15th place, avoid dropping down, on account of hosting the Division A championship in 2018, meaning only two teams were relegated.
Slovenia and Slovak Republic will be replaced by Division B finalists Croatia and Great Britain. On Sunday evening in Tallinn, Estonia, Croatia defeated Great Britain 90-84 after overtime, completing an unbeaten run through the competition.
Luka Samanic of Croatia was named MVP and was joined on the All-Star Five by Jaydon Kayne Henry McCalla of Great Britain, Matthias Tass of Estonia, Amit Ebo of Israel and Ivan Ailpiev of Bulgaria.
For royalty-free photos of the Division A and B Closing Ceremonies, please click here. Photo credit: fiba.basketball