CLOSE Serge: 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.
CLOSE Serge
Largest movements
- Cash -€2,982
down €2,982 (-41.1%), from €7,246 to €4,264
mainly Trade debts (-€5,631) and Stocks and contracts (-€2,480)
- Receivables within one year -€2,776
down €2,776 (-7.6%), from €36,643 to €33,867
of which Trade receivables: -€5,300
- Tangible fixed assets -€2,485
down €2,485 (-18.2%), from €13,667 to €11,182
- Stocks and contracts +€2,480
up €2,480 (+14.5%), from €17,140 to €19,620
- Trade debts -€5,631
down €5,631 (-83.6%), from €6,735 to €1,104
- Profit (loss) carried forward +€1,546
up €1,546 (+8.2%), from €18,840 to €20,386
- Tax, wage and social debts -€840
down €840 (-16.9%), from €4,973 to €4,134
- Other debts -€838
no longer reported in 2025 (was €838)
- Other operating charges +€5,096
up €5,096 (+58.9%), from €8,647 to €13,744
- Gross operating margin +€4,731
up €4,731 (+35.2%), from €13,455 to €18,186
- Financial charges -€1,518
down €1,518 (-83.5%), from €1,817 to €299
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.
Cash bridge derived
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 | €76,011 | €70,249 | -€5,763 | -7.6% |
| Fixed assets | 21/28 | €14,982 | €12,498 | -€2,485 | -16.6% |
| Tangible fixed assets | 22/27 | €13,667 | €11,182 | -€2,485 | -18.2% |
| Plant, machinery and equipment | 23 | €13,667 | €11,182 | -€2,485 | -18.2% |
| Financial fixed assets | 28 | €1,315 | €1,315 | = | 0.0% |
| Current assets | 29/58 | €61,029 | €57,751 | -€3,278 | -5.4% |
| Stocks and contracts in progress | 3 | €17,140 | €19,620 | +€2,480 | +14.5% |
| Stocks | 30/36 | €17,140 | €19,620 | +€2,480 | +14.5% |
| Amounts receivable within one year | 40/41 | €36,643 | €33,867 | -€2,776 | -7.6% |
| Trade receivables | 40 | €36,643 | €31,343 | -€5,300 | -14.5% |
| Other amounts receivable | 41 | - | €2,524 | +€2,524 | |
| Cash at bank and in hand | 54/58 | €7,246 | €4,264 | -€2,982 | -41.1% |
| Total equity and liabilities | 10/49 | €76,011 | €70,249 | -€5,763 | -7.6% |
| Equity | 10/15 | €63,465 | €65,011 | +€1,546 | +2.4% |
| Contributions | 10/11 | €33,985 | €33,985 | = | 0.0% |
| Reserves | 13 | €10,640 | €10,640 | = | 0.0% |
| Tax-exempt reserves | 132 | €640 | €640 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,840 | €20,386 | +€1,546 | +8.2% |
| Amounts payable | 17/49 | €12,546 | €5,238 | -€7,309 | -58.3% |
| Amounts payable within one year | 42/48 | €12,546 | €5,238 | -€7,309 | -58.3% |
| Trade debts | 44 | €6,735 | €1,104 | -€5,631 | -83.6% |
| Suppliers | 440/4 | €6,735 | €1,104 | -€5,631 | -83.6% |
| Taxes, remuneration and social security | 45 | €4,973 | €4,134 | -€840 | -16.9% |
| Taxes | 450/3 | €4,973 | €4,134 | -€840 | -16.9% |
| Other amounts payable | 47/48 | €838 | - | -€838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,485 | €2,485 | = | 0.0% |
| Other operating charges | 640/8 | €8,647 | €13,744 | +€5,096 | +58.9% |
| Gross operating margin | 9900 | €13,455 | €18,186 | +€4,731 | +35.2% |
| Operating profit (loss) | 9901 | €2,323 | €1,957 | -€366 | -15.7% |
| Financial income | 75/76B | €7 | €71 | +€64 | +967.3% |
| Recurring financial income | 75 | €7 | €71 | +€64 | +967.3% |
| Financial charges | 65/66B | €1,817 | €299 | -€1,518 | -83.5% |
| Recurring financial charges | 65 | €1,817 | €299 | -€1,518 | -83.5% |
| Profit (loss) for the period before taxes | 9903 | €513 | €1,729 | +€1,216 | +237.1% |
| Income taxes | 67/77 | €200 | €183 | -€17 | -8.5% |
| Profit (loss) for the period | 9904 | €313 | €1,546 | +€1,233 | +394.1% |
| Profit (loss) for the period to be appropriated | 9905 | €313 | €1,546 | +€1,233 | +394.1% |
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 9 October 2026 via checked.be.