LA SERENADE: 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.
LA SERENADE
Largest movements
- Tangible fixed assets -€8,906
down €8,906 (-8.4%), from €106,080 to €97,174
- Receivables within one year +€6,078
up €6,078 (+5.1%), from €120,022 to €126,101
of which Other amounts receivable: +€6,078
- Current investments -€5,671
no longer reported in 2025 (was €5,671)
- Profit (loss) carried forward -€13,712
down €13,712 (-16.4%), from €83,538 to €69,825
- Other debts +€7,464
up €7,464 (+50.3%), from €14,845 to €22,310
- Tax, wage and social debts -€3,583
down €3,583 (-3.8%), from €94,506 to €90,923
- Gross operating margin -€2,621
down €2,621, from €189 to -€2,432
- Other operating charges -€2,460
no longer reported in 2025 (was €2,460)
- Taxes +€2,054
up €2,054 (+5,977%), from €34 to €2,088
- Depreciation +€160
up €160 (+1.8%), from €8,746 to €8,906
- Financial income -€89
down €89 (-77.5%), from €115 to €26
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 | €231,778 | €223,274 | -€8,504 | -3.7% |
| Fixed assets | 21/28 | €106,080 | €97,174 | -€8,906 | -8.4% |
| Tangible fixed assets | 22/27 | €106,080 | €97,174 | -€8,906 | -8.4% |
| Land and buildings | 22 | €106,080 | €97,174 | -€8,906 | -8.4% |
| Current assets | 29/58 | €125,698 | €126,101 | +€403 | +0.3% |
| Amounts receivable within one year | 40/41 | €120,022 | €126,101 | +€6,078 | +5.1% |
| Trade receivables | 40 | €1,675 | €1,675 | = | 0.0% |
| Other amounts receivable | 41 | €118,347 | €124,426 | +€6,078 | +5.1% |
| Current investments | 50/53 | €5,671 | - | -€5,671 | |
| Cash at bank and in hand | 54/58 | €5 | - | -€5 | |
| Total equity and liabilities | 10/49 | €231,778 | €223,274 | -€8,504 | -3.7% |
| Equity | 10/15 | €103,998 | €90,285 | -€13,712 | -13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,538 | €69,825 | -€13,712 | -16.4% |
| Amounts payable | 17/49 | €127,780 | €132,989 | +€5,209 | +4.1% |
| Amounts payable within one year | 42/48 | €127,780 | €132,989 | +€5,209 | +4.1% |
| Financial debts | 43 | - | €239 | +€239 | |
| Credit institutions | 430/8 | - | €239 | +€239 | |
| Trade debts | 44 | €18,429 | €19,518 | +€1,089 | +5.9% |
| Suppliers | 440/4 | €18,429 | €19,518 | +€1,089 | +5.9% |
| Taxes, remuneration and social security | 45 | €94,506 | €90,923 | -€3,583 | -3.8% |
| Taxes | 450/3 | €94,506 | €90,923 | -€3,583 | -3.8% |
| Other amounts payable | 47/48 | €14,845 | €22,310 | +€7,464 | +50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,746 | €8,906 | +€160 | +1.8% |
| Other operating charges | 640/8 | €2,460 | - | -€2,460 | |
| Gross operating margin | 9900 | €189 | -€2,432 | -€2,621 | |
| Operating profit (loss) | 9901 | -€11,017 | -€11,338 | -€321 | -2.9% |
| Financial income | 75/76B | €115 | €26 | -€89 | -77.5% |
| Recurring financial income | 75 | €115 | €26 | -€89 | -77.5% |
| Financial charges | 65/66B | €268 | €312 | +€45 | +16.7% |
| Recurring financial charges | 65 | €268 | €312 | +€45 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,170 | -€11,624 | -€454 | -4.1% |
| Income taxes | 67/77 | €34 | €2,088 | +€2,054 | +5,977% |
| Profit (loss) for the period | 9904 | -€11,205 | -€13,712 | -€2,508 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,205 | -€13,712 | -€2,508 | -22.4% |
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.