Ive 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.
Ive Serneels
Largest movements
- Cash +€91,142
up €91,142 (+197%), from €46,274 to €137,417
mainly Net result for the year (+€87,522) and Tax, wage and social debts (+€26,512)
- Receivables within one year +€25,980
up €25,980 (+27.2%), from €95,505 to €121,485
of which Other amounts receivable: +€26,233
- Reserves +€87,522
up €87,522 (+89.4%), from €97,930 to €185,452
- Tax, wage and social debts +€26,512
up €26,512 (+67.2%), from €39,425 to €65,937
- Gross operating margin +€6,625
up €6,625 (+6.4%), from €103,329 to €109,954
- Financial income +€4,506
up €4,506 (+390%), from €1,157 to €5,663
- Taxes +€3,553
up €3,553 (+16.5%), from €21,532 to €25,085
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 | €145,118 | €260,098 | +€114,980 | +79.2% |
| Current assets | 29/58 | €145,118 | €260,098 | +€114,980 | +79.2% |
| Amounts receivable within one year | 40/41 | €95,505 | €121,485 | +€25,980 | +27.2% |
| Trade receivables | 40 | €254 | €0 | -€254 | -100% |
| Other amounts receivable | 41 | €95,251 | €121,485 | +€26,233 | +27.5% |
| Cash at bank and in hand | 54/58 | €46,274 | €137,417 | +€91,142 | +197% |
| Deferred charges and accrued income | 490/1 | €3,339 | €1,197 | -€2,142 | -64.2% |
| Total equity and liabilities | 10/49 | €145,118 | €260,098 | +€114,980 | +79.2% |
| Equity | 10/15 | €102,930 | €190,452 | +€87,522 | +85.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €97,930 | €185,452 | +€87,522 | +89.4% |
| Distributable reserves | 133 | €97,930 | €185,452 | +€87,522 | +89.4% |
| Amounts payable | 17/49 | €42,188 | €69,646 | +€27,458 | +65.1% |
| Amounts payable within one year | 42/48 | €42,188 | €69,646 | +€27,458 | +65.1% |
| Current portion of amounts payable after more than one year | 42 | - | €311 | +€311 | |
| Trade debts | 44 | €2,763 | €2,227 | -€536 | -19.4% |
| Suppliers | 440/4 | €2,763 | €2,227 | -€536 | -19.4% |
| Taxes, remuneration and social security | 45 | €39,425 | €65,937 | +€26,512 | +67.2% |
| Taxes | 450/3 | €39,425 | €65,937 | +€26,512 | +67.2% |
| Other amounts payable | 47/48 | - | €1,171 | +€1,171 | |
| Other operating charges | 640/8 | €895 | €1,117 | +€223 | +24.9% |
| Gross operating margin | 9900 | €103,329 | €109,954 | +€6,625 | +6.4% |
| Operating profit (loss) | 9901 | €102,434 | €108,837 | +€6,403 | +6.3% |
| Financial income | 75/76B | €1,157 | €5,663 | +€4,506 | +390% |
| Recurring financial income | 75 | €1,157 | €5,663 | +€4,506 | +390% |
| Financial charges | 65/66B | €1,878 | €1,892 | +€15 | +0.8% |
| Recurring financial charges | 65 | €1,878 | €1,892 | +€15 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €101,713 | €112,607 | +€10,894 | +10.7% |
| Income taxes | 67/77 | €21,532 | €25,085 | +€3,553 | +16.5% |
| Profit (loss) for the period | 9904 | €80,182 | €87,522 | +€7,340 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,182 | €87,522 | +€7,340 | +9.2% |
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 14 October 2026 via checked.be.