IMMO SERGE PRODUCTION: 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.
IMMO SERGE PRODUCTION
Largest movements
- Receivables within one year -€287,462
down €287,462 (-50.4%), from €570,921 to €283,459
of which Other amounts receivable: -€288,241
- Cash +€53,484
up €53,484 (+184%), from €29,132 to €82,616
mainly Receivables within one year (+€287,462) and Other debts (+€42,370)
- Tangible fixed assets -€29,108
down €29,108 (-7.8%), from €373,926 to €344,818
of which Land and buildings: -€28,050
- Debts after one year -€300,000
no longer reported in 2025 (was €300,000)
of which Other amounts payable: -€200,000
- Other debts +€42,370
new in 2025: €42,370
- Gross operating margin -€68,426
down €68,426 (-55.7%), from €122,921 to €54,495
- Financial charges -€16,111
down €16,111 (-80.9%), from €19,916 to €3,805
- Taxes -€10,120
down €10,120 (-93.2%), from €10,854 to €734
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 | €974,505 | €712,312 | -€262,193 | -26.9% |
| Fixed assets | 21/28 | €373,926 | €344,818 | -€29,108 | -7.8% |
| Tangible fixed assets | 22/27 | €373,926 | €344,818 | -€29,108 | -7.8% |
| Land and buildings | 22 | €339,518 | €311,468 | -€28,050 | -8.3% |
| Plant, machinery and equipment | 23 | €1,381 | €1,968 | +€587 | +42.5% |
| Furniture and vehicles | 24 | €2,333 | €1,015 | -€1,318 | -56.5% |
| Other tangible fixed assets | 26 | €30,694 | €30,367 | -€327 | -1.1% |
| Current assets | 29/58 | €600,579 | €367,494 | -€233,085 | -38.8% |
| Amounts receivable within one year | 40/41 | €570,921 | €283,459 | -€287,462 | -50.4% |
| Trade receivables | 40 | €1,109 | €1,888 | +€779 | +70.2% |
| Other amounts receivable | 41 | €569,812 | €281,571 | -€288,241 | -50.6% |
| Cash at bank and in hand | 54/58 | €29,132 | €82,616 | +€53,484 | +184% |
| Deferred charges and accrued income | 490/1 | €526 | €1,419 | +€893 | +170% |
| Total equity and liabilities | 10/49 | €974,505 | €712,312 | -€262,193 | -26.9% |
| Equity | 10/15 | €654,425 | €655,534 | +€1,109 | +0.2% |
| Contributions | 10/11 | €66,890 | €66,891 | +€1 | 0.0% |
| Capital | 10 | €66,890 | €66,891 | +€1 | 0.0% |
| Issued capital | 100 | €66,890 | €66,891 | +€1 | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €580,035 | €581,143 | +€1,108 | +0.2% |
| Amounts payable | 17/49 | €320,080 | €56,778 | -€263,302 | -82.3% |
| Amounts payable after more than one year | 17 | €300,000 | - | -€300,000 | |
| Financial debts | 170/4 | €100,000 | - | -€100,000 | |
| Other amounts payable | 178/9 | €200,000 | - | -€200,000 | |
| Amounts payable within one year | 42/48 | €15,580 | €56,778 | +€41,198 | +264% |
| Trade debts | 44 | €5,044 | €3,554 | -€1,490 | -29.5% |
| Suppliers | 440/4 | €5,044 | €3,554 | -€1,490 | -29.5% |
| Taxes, remuneration and social security | 45 | €10,536 | €10,854 | +€318 | +3.0% |
| Taxes | 450/3 | €10,536 | €10,854 | +€318 | +3.0% |
| Other amounts payable | 47/48 | - | €42,370 | +€42,370 | |
| Accrued charges and deferred income | 492/3 | €4,500 | - | -€4,500 | |
| Non-recurring operating income | 76A | - | €49 | +€49 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,902 | €34,849 | -€53 | -0.2% |
| Other operating charges | 640/8 | €13,570 | €13,999 | +€429 | +3.2% |
| Gross operating margin | 9900 | €122,921 | €54,495 | -€68,426 | -55.7% |
| Operating profit (loss) | 9901 | €74,449 | €5,647 | -€68,802 | -92.4% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €19,916 | €3,805 | -€16,111 | -80.9% |
| Recurring financial charges | 65 | €19,916 | €3,805 | -€16,111 | -80.9% |
| Profit (loss) for the period before taxes | 9903 | €54,538 | €1,842 | -€52,696 | -96.6% |
| Income taxes | 67/77 | €10,854 | €734 | -€10,120 | -93.2% |
| Profit (loss) for the period | 9904 | €43,684 | €1,108 | -€42,576 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,684 | €1,108 | -€42,576 | -97.5% |
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 31 October 2026 via checked.be.