CELIA SERDAR IMMO: 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.
CELIA SERDAR IMMO
Largest movements
- Receivables within one year +€87,327
up €87,327 (+290%), from €30,105 to €117,431
of which Trade receivables: +€93,375
- Deferred charges and accrued income -€25,077
down €25,077 (-46.4%), from €54,004 to €28,927
- Cash -€7,053
no longer reported in 2025 (was €7,053)
mainly Receivables within one year (-€87,327) and Other debts (-€3,130)
- Tangible fixed assets -€4,020
down €4,020 (-45.6%), from €8,816 to €4,795
of which Furniture and vehicles: -€3,166
- Trade debts +€46,850
up €46,850 (+229%), from €20,441 to €67,291
- Short-term financial debts +€4,724
new in 2025: €4,724
- Other debts -€3,130
down €3,130 (-6.2%), from €50,688 to €47,558
- Profit (loss) carried forward +€2,732
up €2,732 (+9.5%), from €28,707 to €31,439
- Taxes -€2,628
no longer reported in 2025 (was €2,628)
- Gross operating margin +€1,210
up €1,210 (+17.7%), from €6,825 to €8,036
- Other operating charges -€397
down €397 (-27.6%), from €1,440 to €1,042
- Financial charges +€103
up €103 (+73.7%), from €139 to €242
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 | €100,138 | €151,314 | +€51,176 | +51.1% |
| Fixed assets | 21/28 | €8,976 | €4,955 | -€4,020 | -44.8% |
| Tangible fixed assets | 22/27 | €8,816 | €4,795 | -€4,020 | -45.6% |
| Plant, machinery and equipment | 23 | €4,295 | €3,441 | -€854 | -19.9% |
| Furniture and vehicles | 24 | €4,521 | €1,354 | -€3,166 | -70.0% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €91,162 | €146,359 | +€55,196 | +60.5% |
| Amounts receivable within one year | 40/41 | €30,105 | €117,431 | +€87,327 | +290% |
| Trade receivables | 40 | €23,206 | €116,581 | +€93,375 | +402% |
| Other amounts receivable | 41 | €6,898 | €850 | -€6,048 | -87.7% |
| Cash at bank and in hand | 54/58 | €7,053 | - | -€7,053 | |
| Deferred charges and accrued income | 490/1 | €54,004 | €28,927 | -€25,077 | -46.4% |
| Total equity and liabilities | 10/49 | €100,138 | €151,314 | +€51,176 | +51.1% |
| Equity | 10/15 | €28,708 | €31,440 | +€2,732 | +9.5% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Capital | 10 | €1 | €1 | = | 0.0% |
| Issued capital | 100 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,707 | €31,439 | +€2,732 | +9.5% |
| Amounts payable | 17/49 | €71,430 | €119,874 | +€48,445 | +67.8% |
| Amounts payable within one year | 42/48 | €71,430 | €119,874 | +€48,445 | +67.8% |
| Financial debts | 43 | - | €4,724 | +€4,724 | |
| Credit institutions | 430/8 | - | €4,724 | +€4,724 | |
| Trade debts | 44 | €20,441 | €67,291 | +€46,850 | +229% |
| Suppliers | 440/4 | €20,441 | €67,291 | +€46,850 | +229% |
| Taxes, remuneration and social security | 45 | €301 | €301 | = | 0.0% |
| Remuneration and social security | 454/9 | €301 | €301 | = | 0.0% |
| Other amounts payable | 47/48 | €50,688 | €47,558 | -€3,130 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,020 | €4,020 | = | 0.0% |
| Other operating charges | 640/8 | €1,440 | €1,042 | -€397 | -27.6% |
| Non-recurring operating charges | 66A | €14,817 | - | -€14,817 | |
| Gross operating margin | 9900 | €6,825 | €8,036 | +€1,210 | +17.7% |
| Operating profit (loss) | 9901 | -€13,452 | €2,973 | +€16,425 | |
| Financial charges | 65/66B | €139 | €242 | +€103 | +73.7% |
| Recurring financial charges | 65 | €139 | €242 | +€103 | +73.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,591 | €2,732 | +€16,323 | |
| Income taxes | 67/77 | €2,628 | - | -€2,628 | |
| Profit (loss) for the period | 9904 | -€16,219 | €2,732 | +€18,951 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,219 | €2,732 | +€18,951 |
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 18 October 2026 via checked.be.