DE SERRE: 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.
DE SERRE
Largest movements
- Tangible fixed assets +€290,508
new in 2025: €290,508
- Receivables within one year +€25,632
new in 2025: €25,632
- Cash +€3,902
up €3,902 (+69.1%), from €5,646 to €9,548
mainly Debts after one year (+€255,441) and Other debts (+€54,000)
- Debts after one year +€255,441
new in 2025: €255,441
- Other debts +€54,000
new in 2025: €54,000
- Current portion of long-term debt +€38,415
new in 2025: €38,415
- Profit (loss) carried forward -€35,024
down €35,024 (-1,495%), from -€2,342 to -€37,366
- Trade debts +€5,211
up €5,211 (+174%), from €2,988 to €8,199
- Financial income -€3.2m
down €3.2m (-100%), from €3.2m to €0
of which Financial income: -€3.2m
- Gross operating margin -€17,421
down €17,421 (-403%), from -€4,318 to -€21,739
- Depreciation +€6,820
new in 2025: €6,820
- Financial charges +€4,902
up €4,902 (+8,102%), from €61 to €4,962
- Other operating charges +€472
up €472 (+45.9%), from €1,030 to €1,502
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 | €5,646 | €325,688 | +€320,042 | +5,669% |
| Fixed assets | 21/28 | - | €290,508 | +€290,508 | |
| Tangible fixed assets | 22/27 | - | €290,508 | +€290,508 | |
| Plant, machinery and equipment | 23 | - | €290,508 | +€290,508 | |
| Current assets | 29/58 | €5,646 | €35,179 | +€29,534 | +523% |
| Amounts receivable within one year | 40/41 | - | €25,632 | +€25,632 | |
| Trade receivables | 40 | - | €25,632 | +€25,632 | |
| Cash at bank and in hand | 54/58 | €5,646 | €9,548 | +€3,902 | +69.1% |
| Total equity and liabilities | 10/49 | €5,646 | €325,688 | +€320,042 | +5,669% |
| Equity | 10/15 | €2,658 | -€32,366 | -€35,024 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,342 | -€37,366 | -€35,024 | -1,495% |
| Amounts payable | 17/49 | €2,988 | €358,054 | +€355,066 | +11,883% |
| Amounts payable after more than one year | 17 | - | €255,441 | +€255,441 | |
| Financial debts | 170/4 | - | €255,441 | +€255,441 | |
| Amounts payable within one year | 42/48 | €2,988 | €102,613 | +€99,625 | +3,334% |
| Current portion of amounts payable after more than one year | 42 | - | €38,415 | +€38,415 | |
| Trade debts | 44 | €2,988 | €8,199 | +€5,211 | +174% |
| Suppliers | 440/4 | €2,988 | €8,199 | +€5,211 | +174% |
| Taxes, remuneration and social security | 45 | - | €1,999 | +€1,999 | |
| Taxes | 450/3 | - | €1,999 | +€1,999 | |
| Other amounts payable | 47/48 | - | €54,000 | +€54,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,820 | +€6,820 | |
| Other operating charges | 640/8 | €1,030 | €1,502 | +€472 | +45.9% |
| Gross operating margin | 9900 | -€4,318 | -€21,739 | -€17,421 | -403% |
| Operating profit (loss) | 9901 | -€5,348 | -€30,062 | -€24,714 | -462% |
| Financial income | 75/76B | €3,210,000 | €0 | -€3.2m | -100% |
| Recurring financial income | 75 | €3,210,000 | €0 | -€3.2m | -100% |
| Non-recurring financial income | 76B | €3,210,000 | €0 | -€3.2m | -100% |
| Financial charges | 65/66B | €61 | €4,962 | +€4,902 | +8,102% |
| Recurring financial charges | 65 | €61 | €4,962 | +€4,902 | +8,102% |
| Profit (loss) for the period before taxes | 9903 | €3,204,592 | -€35,024 | -€3.2m | |
| Profit (loss) for the period | 9904 | €3,204,592 | -€35,024 | -€3.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €3,204,592 | -€35,024 | -€3.2m |
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 30 October 2026 via checked.be.