A & B SERNEELS: what changed
Two financial 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.
A & B SERNEELS
Largest movements
- Cash +€65,532
up €65,532 (+22.7%), from €288,682 to €354,213
mainly Trade debts (+€71,842) and Tax, wage and social debts (+€36,551)
- Deferred charges and accrued income +€49,083
up €49,083 (+642%), from €7,640 to €56,723
- Receivables within one year +€23,980
up €23,980 (+124%), from €19,391 to €43,371
of which Trade receivables: +€20,305
- Tangible fixed assets +€22,250
up €22,250 (+125%), from €17,848 to €40,098
of which Furniture and vehicles: +€24,492
- Stocks and contracts -€20,250
down €20,250 (-7.8%), from €260,418 to €240,168
- Trade debts +€71,842
up €71,842 (+223%), from €32,215 to €104,056
- Tax, wage and social debts +€36,551
up €36,551 (+86.5%), from €42,251 to €78,802
of which Taxes: +€38,665
- Reserves +€30,000
up €30,000 (+6.2%), from €485,072 to €515,072
of which Distributable reserves: +€30,000
- Taxes -€16,425
down €16,425 (-46.0%), from €35,740 to €19,314
- Staff costs +€14,621
up €14,621 (+19.0%), from €77,022 to €91,642
- Other operating charges -€5,621
down €5,621 (-92.0%), from €6,111 to €490
- Depreciation +€4,361
up €4,361 (+106%), from €4,121 to €8,481
- Financial charges +€2,140
up €2,140 (+26.0%), from €8,235 to €10,375
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.
Derived cash bridge
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 | €596,964 | €736,563 | +€139,599 | +23.4% |
| Fixed assets | 21/28 | €20,833 | €42,088 | +€21,255 | +102% |
| Intangible fixed assets | 21 | €2,985 | €1,990 | -€995 | -33.3% |
| Tangible fixed assets | 22/27 | €17,848 | €40,098 | +€22,250 | +125% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,035 | €25,527 | +€24,492 | +2,366% |
| Other tangible fixed assets | 26 | €16,813 | €14,571 | -€2,242 | -13.3% |
| Current assets | 29/58 | €576,130 | €694,475 | +€118,344 | +20.5% |
| Stocks and contracts in progress | 3 | €260,418 | €240,168 | -€20,250 | -7.8% |
| Stocks | 30/36 | €260,418 | €240,168 | -€20,250 | -7.8% |
| Amounts receivable within one year | 40/41 | €19,391 | €43,371 | +€23,980 | +124% |
| Trade receivables | 40 | €14,139 | €34,443 | +€20,305 | +144% |
| Other amounts receivable | 41 | €5,252 | €8,927 | +€3,675 | +70.0% |
| Cash at bank and in hand | 54/58 | €288,682 | €354,213 | +€65,532 | +22.7% |
| Deferred charges and accrued income | 490/1 | €7,640 | €56,723 | +€49,083 | +642% |
| Total equity and liabilities | 10/49 | €596,964 | €736,563 | +€139,599 | +23.4% |
| Equity | 10/15 | €514,323 | €547,282 | +€32,959 | +6.4% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €485,072 | €515,072 | +€30,000 | +6.2% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €485,072 | €515,072 | +€30,000 | +6.2% |
| Profit (loss) carried forward | 14 | €27,391 | €30,351 | +€2,959 | +10.8% |
| Amounts payable | 17/49 | €82,641 | €189,281 | +€106,640 | +129% |
| Amounts payable within one year | 42/48 | €82,048 | €187,714 | +€105,666 | +129% |
| Trade debts | 44 | €32,215 | €104,056 | +€71,842 | +223% |
| Suppliers | 440/4 | €32,215 | €104,056 | +€71,842 | +223% |
| Taxes, remuneration and social security | 45 | €42,251 | €78,802 | +€36,551 | +86.5% |
| Taxes | 450/3 | €28,273 | €66,938 | +€38,665 | +137% |
| Remuneration and social security | 454/9 | €13,978 | €11,864 | -€2,114 | -15.1% |
| Other amounts payable | 47/48 | €7,583 | €4,857 | -€2,726 | -36.0% |
| Accrued charges and deferred income | 492/3 | €593 | €1,566 | +€974 | +164% |
| Remuneration, social security and pensions | 62 | €77,022 | €91,642 | +€14,621 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,121 | €8,481 | +€4,361 | +106% |
| Other operating charges | 640/8 | €6,111 | €490 | -€5,621 | -92.0% |
| Gross operating margin | 9900 | €156,796 | €158,694 | +€1,898 | +1.2% |
| Operating profit (loss) | 9901 | €69,543 | €58,081 | -€11,462 | -16.5% |
| Financial income | 75/76B | €3,230 | €4,567 | +€1,337 | +41.4% |
| Recurring financial income | 75 | €3,230 | €4,567 | +€1,337 | +41.4% |
| Financial charges | 65/66B | €8,235 | €10,375 | +€2,140 | +26.0% |
| Recurring financial charges | 65 | €8,235 | €10,375 | +€2,140 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €64,538 | €52,274 | -€12,265 | -19.0% |
| Income taxes | 67/77 | €35,740 | €19,314 | -€16,425 | -46.0% |
| Profit (loss) for the period | 9904 | €28,799 | €32,959 | +€4,161 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,799 | €32,959 | +€4,161 | +14.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.