diff --git a/.changeset/quiet-teams-pick.md b/.changeset/quiet-teams-pick.md
new file mode 100644
index 0000000000..ed046168be
--- /dev/null
+++ b/.changeset/quiet-teams-pick.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: correctly compile component member expressions for SSR
diff --git a/.changeset/red-crabs-ring.md b/.changeset/red-crabs-ring.md
new file mode 100644
index 0000000000..82b53c5464
--- /dev/null
+++ b/.changeset/red-crabs-ring.md
@@ -0,0 +1,5 @@
+---
+'svelte': patch
+---
+
+fix: reset `source.updated` stack traces after `flush`
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/Component.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/Component.js
index 8e7d7bcdbf..ed202edd3b 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/Component.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/Component.js
@@ -9,5 +9,9 @@ import { build_inline_component } from './shared/component.js';
  * @param {ComponentContext} context
  */
 export function Component(node, context) {
-	build_inline_component(node, /** @type {Expression} */ (context.visit(b.id(node.name))), context);
+	build_inline_component(
+		node,
+		/** @type {Expression} */ (context.visit(b.member_id(node.name))),
+		context
+	);
 }
diff --git a/packages/svelte/src/internal/client/reactivity/batch.js b/packages/svelte/src/internal/client/reactivity/batch.js
index a106806721..d1f3ce08af 100644
--- a/packages/svelte/src/internal/client/reactivity/batch.js
+++ b/packages/svelte/src/internal/client/reactivity/batch.js
@@ -85,7 +85,9 @@ export let collected_effects = null;
 export let legacy_updates = null;
 
 var flush_count = 0;
-var source_stacks = DEV ? new Set() : null;
+
+/** @type {Set<Value>} */
+var source_stacks = new Set();
 
 let uid = 1;
 
@@ -273,6 +275,14 @@ export class Batch {
 			infinite_loop_guard();
 		}
 
+		if (DEV) {
+			// track all the values that were updated during this flush,
+			// so that they can be reset afterwards
+			for (const value of this.current.keys()) {
+				source_stacks.add(value);
+			}
+		}
+
 		// we only reschedule previously-deferred effects if we expect
 		// to be able to run them after processing the batch
 		if (!this.#is_deferred()) {
@@ -334,26 +344,28 @@ export class Batch {
 			for (const [e, t] of this.#skipped_branches) {
 				reset_branch(e, t);
 			}
-		} else {
-			if (this.#pending === 0) {
-				batches.delete(this);
+
+			if (updates.length > 0) {
+				/** @type {Batch} */ (/** @type {unknown} */ (current_batch)).#process();
 			}
 
-			// clear effects. Those that are still needed will be rescheduled through unskipping the skipped branches.
-			this.#dirty_effects.clear();
-			this.#maybe_dirty_effects.clear();
+			return;
+		}
 
-			// append/remove branches
-			for (const fn of this.#commit_callbacks) fn(this);
-			this.#commit_callbacks.clear();
+		// clear effects. Those that are still needed will be rescheduled through unskipping the skipped branches.
+		this.#dirty_effects.clear();
+		this.#maybe_dirty_effects.clear();
 
-			previous_batch = this;
-			flush_queued_effects(render_effects);
-			flush_queued_effects(effects);
-			previous_batch = null;
+		// append/remove branches
+		for (const fn of this.#commit_callbacks) fn(this);
+		this.#commit_callbacks.clear();
 
-			this.#deferred?.resolve();
-		}
+		previous_batch = this;
+		flush_queued_effects(render_effects);
+		flush_queued_effects(effects);
+		previous_batch = null;
+
+		this.#deferred?.resolve();
 
 		var next_batch = /** @type {Batch | null} */ (/** @type {unknown} */ (current_batch));
 
@@ -361,8 +373,10 @@ export class Batch {
 		// else we could start flushing a new batch and then, if it has pending work, rebase it right afterwards, which is wrong.
 		// In sync mode flushSync can cause #commit to wrongfully think that there needs to be a rebase, so we only do it in async mode
 		// TODO fix the underlying cause, otherwise this will likely regress when non-async mode is removed
-		if (async_mode_flag && !batches.has(this)) {
+		if (async_mode_flag && this.#pending === 0) {
 			this.#commit();
+			// Rebases can activate other batches or null it out, therefore restore the new one here
+			current_batch = next_batch;
 		}
 
 		// Edge case: During traversal new branches might create effects that run immediately and set state,
@@ -370,18 +384,11 @@ export class Batch {
 		// once more in that case - most of the time this will just clean up dirty branches.
 		if (this.#roots.length > 0) {
 			const batch = (next_batch ??= this);
+			batches.add(batch);
 			batch.#roots.push(...this.#roots.filter((r) => !batch.#roots.includes(r)));
 		}
 
 		if (next_batch !== null) {
-			batches.add(next_batch);
-
-			if (DEV) {
-				for (const source of this.current.keys()) {
-					/** @type {Set<Source>} */ (source_stacks).add(source);
-				}
-			}
-
 			next_batch.#process();
 		}
 	}
@@ -480,9 +487,11 @@ export class Batch {
 	}
 
 	flush() {
-		var source_stacks = DEV ? new Set() : null;
-
 		try {
+			if (DEV) {
+				source_stacks.clear();
+			}
+
 			is_processing = true;
 			current_batch = this;
 
@@ -500,7 +509,7 @@ export class Batch {
 			old_values.clear();
 
 			if (DEV) {
-				for (const source of /** @type {Set<Source>} */ (source_stacks)) {
+				for (const source of source_stacks) {
 					source.updated = null;
 				}
 			}
@@ -523,6 +532,8 @@ export class Batch {
 	}
 
 	#commit() {
+		batches.delete(this);
+
 		// If there are other pending batches, they now need to be 'rebased' —
 		// in other words, we re-run block/async effects with the newly
 		// committed state, unless the batch in question has a more
@@ -726,20 +737,14 @@ export class Batch {
 	static ensure() {
 		if (current_batch === null) {
 			const batch = (current_batch = new Batch());
+			batches.add(batch);
 
-			if (!is_processing) {
-				batches.add(current_batch);
-
-				if (!is_flushing_sync) {
-					queue_micro_task(() => {
-						if (batch.#started) {
-							// a flushSync happened in the meantime
-							return;
-						}
-
+			if (!is_processing && !is_flushing_sync) {
+				queue_micro_task(() => {
+					if (!batch.#started) {
 						batch.flush();
-					});
-				}
+					}
+				});
 			}
 		}
 
diff --git a/packages/svelte/tests/runtime-runes/samples/async-flushsync-in-effect/_config.js b/packages/svelte/tests/runtime-runes/samples/async-flushsync-in-effect/_config.js
new file mode 100644
index 0000000000..59a81afd35
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-flushsync-in-effect/_config.js
@@ -0,0 +1,25 @@
+import { tick } from 'svelte';
+import { test } from '../../test';
+
+export default test({
+	async test({ assert, target }) {
+		await tick();
+
+		const [increment, shift] = target.querySelectorAll('button');
+
+		increment.click();
+		await tick();
+
+		assert.htmlEqual(target.innerHTML, '<button>clicks: 0</button><button>shift</button> 0');
+
+		shift.click();
+		await tick();
+
+		assert.htmlEqual(target.innerHTML, '<button>clicks: 1</button><button>shift</button> 1');
+
+		shift.click();
+		await tick();
+
+		assert.htmlEqual(target.innerHTML, '<button>clicks: 2</button><button>shift</button> 2');
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/async-flushsync-in-effect/main.svelte b/packages/svelte/tests/runtime-runes/samples/async-flushsync-in-effect/main.svelte
new file mode 100644
index 0000000000..12c4dd578e
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/async-flushsync-in-effect/main.svelte
@@ -0,0 +1,25 @@
+<script lang="ts">
+	import { flushSync } from 'svelte';
+
+	let count = $state(0);
+
+	const queue: Array<() => void> = [];
+
+	$effect(() => {
+		if (count === 1) {
+			count = 2;
+			flushSync();
+		}
+	})
+
+	function push(v: number) {
+		if (v === 0) return v;
+		return new Promise(r => queue.push(() => r(v)));
+	}
+</script>
+
+<button onclick={() => count += 1}>
+	clicks: {count}
+</button>
+<button onclick={() => queue.shift()?.()}>shift</button>
+{await push(count)}
diff --git a/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/Icon.svelte b/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/Icon.svelte
new file mode 100644
index 0000000000..77cdcabaf7
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/Icon.svelte
@@ -0,0 +1 @@
+<span>x</span>
diff --git a/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/_config.js b/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/_config.js
new file mode 100644
index 0000000000..22412de14d
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/_config.js
@@ -0,0 +1,8 @@
+import { test } from '../../test';
+
+export default test({
+	mode: ['client', 'server'],
+
+	html: `<span>x</span>`,
+	ssrHtml: `<span>x</span>`
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/main.svelte b/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/main.svelte
new file mode 100644
index 0000000000..b0f95b2a31
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/dynamic-component-member/main.svelte
@@ -0,0 +1,8 @@
+<script>
+	import Icon from './Icon.svelte';
+
+	let icons = $state({ currency: { Icon } });
+	const platformIcons = $derived(icons);
+</script>
+
+<platformIcons.currency.Icon />
diff --git a/packages/svelte/tests/runtime-runes/samples/store-unsubscribe-not-referenced-after-2/_config.js b/packages/svelte/tests/runtime-runes/samples/store-unsubscribe-not-referenced-after-2/_config.js
new file mode 100644
index 0000000000..d7293f9b70
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/store-unsubscribe-not-referenced-after-2/_config.js
@@ -0,0 +1,54 @@
+import { tick } from 'svelte';
+import { ok, test } from '../../test';
+
+// Test that the store is unsubscribed from, even if it's not referenced once the store itself is set to null
+export default test({
+	skip_no_async: true,
+
+	async test({ target, assert }) {
+		assert.htmlEqual(
+			target.innerHTML,
+			`<input type="number"> <p>0</p> <button>add watcher</button>`
+		);
+
+		target.querySelector('button')?.click();
+		await tick();
+		assert.htmlEqual(
+			target.innerHTML,
+			`<input type="number"> <p>1</p> hello 1 <button>remove watcher</button>`
+		);
+
+		const input = target.querySelector('input');
+		ok(input);
+
+		input.stepUp();
+		input.dispatchEvent(new Event('input', { bubbles: true }));
+		await tick();
+		assert.htmlEqual(
+			target.innerHTML,
+			`<input type="number"> <p>2</p> hello 2 <button>remove watcher</button>`
+		);
+
+		target.querySelector('button')?.click();
+		await tick();
+		assert.htmlEqual(
+			target.innerHTML,
+			`<input type="number"> <p>2</p> <button>add watcher</button>`
+		);
+
+		input.stepUp();
+		input.dispatchEvent(new Event('input', { bubbles: true }));
+		await tick();
+		assert.htmlEqual(
+			target.innerHTML,
+			`<input type="number"> <p>2</p> <button>add watcher</button>`
+		);
+
+		target.querySelector('button')?.click();
+		await tick();
+		assert.htmlEqual(
+			target.innerHTML,
+			`<input type="number"> <p>3</p> hello 3 <button>remove watcher</button>`
+		);
+	}
+});
diff --git a/packages/svelte/tests/runtime-runes/samples/store-unsubscribe-not-referenced-after-2/main.svelte b/packages/svelte/tests/runtime-runes/samples/store-unsubscribe-not-referenced-after-2/main.svelte
new file mode 100644
index 0000000000..4abfd3c2f9
--- /dev/null
+++ b/packages/svelte/tests/runtime-runes/samples/store-unsubscribe-not-referenced-after-2/main.svelte
@@ -0,0 +1,29 @@
+<script>
+	import { writable, derived } from "svelte/store";
+
+	const obj = writable({ a: 1 });
+	let count = $state(0);
+	let watcherA = $state();
+
+	function watch (prop) {
+		return derived(obj, (o) => {
+			count++;
+			return o[prop];
+		});
+	}
+</script>
+
+<input type="number" bind:value={$obj.a}>
+<p>{count}</p>
+
+{#if watcherA}
+	<!-- make sure the presence of async work doesn't break the `legacy_updates` mechanism -->
+	{#if true}
+		{await 'hello'}
+	{/if}
+
+	{$watcherA}
+	<button on:click={() => watcherA = null}>remove watcher</button>
+{:else}
+	<button on:click={() => watcherA = watch("a")}>add watcher</button>
+{/if}