LA SERRA: 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 SERRA
Largest movements
- Tangible fixed assets -€25,838
down €25,838 (-95.4%), from €27,072 to €1,234
of which Leasing and similar rights: -€26,475
- Receivables within one year -€14,007
no longer reported in 2025 (was €14,007)
- Deferred charges and accrued income +€7,856
new in 2025: €7,856
- Debts after one year -€20,894
no longer reported in 2025 (was €20,894)
- Reserves -€12,913
down €12,913 (-21.8%), from €59,261 to €46,348
- Short-term financial debts +€8,746
new in 2025: €8,746
- Tax, wage and social debts -€4,767
down €4,767 (-72.9%), from €6,543 to €1,776
- Current portion of long-term debt -€4,668
no longer reported in 2025 (was €4,668)
- Depreciation +€16,562
up €16,562 (+180%), from €9,197 to €25,759
- Gross operating margin +€6,556
up €6,556 (+16.7%), from €39,274 to €45,830
- Taxes -€4,928
down €4,928 (-49.3%), from €10,000 to €5,072
- Financial charges +€2,075
up €2,075 (+86.4%), from €2,401 to €4,476
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 | €104,774 | €72,215 | -€32,559 | -31.1% |
| Fixed assets | 21/28 | €27,572 | €1,734 | -€25,838 | -93.7% |
| Tangible fixed assets | 22/27 | €27,072 | €1,234 | -€25,838 | -95.4% |
| Plant, machinery and equipment | 23 | €597 | €1,234 | +€637 | +107% |
| Leasing and similar rights | 25 | €26,475 | - | -€26,475 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €77,203 | €70,481 | -€6,721 | -8.7% |
| Stocks and contracts in progress | 3 | €1,000 | - | -€1,000 | |
| Stocks | 30/36 | €1,000 | - | -€1,000 | |
| Amounts receivable within one year | 40/41 | €14,007 | - | -€14,007 | |
| Other amounts receivable | 41 | €14,007 | - | -€14,007 | |
| Cash at bank and in hand | 54/58 | €62,196 | €62,626 | +€430 | +0.7% |
| Deferred charges and accrued income | 490/1 | - | €7,856 | +€7,856 | |
| Total equity and liabilities | 10/49 | €104,774 | €72,215 | -€32,559 | -31.1% |
| Equity | 10/15 | €72,066 | €59,609 | -€12,456 | -17.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €59,261 | €46,348 | -€12,913 | -21.8% |
| Distributable reserves | 133 | €59,261 | €46,348 | -€12,913 | -21.8% |
| Profit (loss) carried forward | 14 | €6,605 | €7,062 | +€457 | +6.9% |
| Amounts payable | 17/49 | €32,709 | €12,606 | -€20,103 | -61.5% |
| Amounts payable after more than one year | 17 | €20,894 | - | -€20,894 | |
| Financial debts | 170/4 | €20,894 | - | -€20,894 | |
| Amounts payable within one year | 42/48 | €11,815 | €12,606 | +€791 | +6.7% |
| Current portion of amounts payable after more than one year | 42 | €4,668 | - | -€4,668 | |
| Financial debts | 43 | - | €8,746 | +€8,746 | |
| Other loans | 439 | - | €8,746 | +€8,746 | |
| Trade debts | 44 | €603 | €1,838 | +€1,234 | +205% |
| Suppliers | 440/4 | €603 | €1,838 | +€1,234 | +205% |
| Taxes, remuneration and social security | 45 | €6,543 | €1,776 | -€4,767 | -72.9% |
| Taxes | 450/3 | €6,543 | €1,776 | -€4,767 | -72.9% |
| Other amounts payable | 47/48 | - | €246 | +€246 | |
| Non-recurring operating income | 76A | - | €38,000 | +€38,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,197 | €25,759 | +€16,562 | +180% |
| Other operating charges | 640/8 | €1,071 | €1,083 | +€12 | +1.1% |
| Gross operating margin | 9900 | €39,274 | €45,830 | +€6,556 | +16.7% |
| Operating profit (loss) | 9901 | €29,006 | €18,989 | -€10,017 | -34.5% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €2,401 | €4,476 | +€2,075 | +86.4% |
| Recurring financial charges | 65 | €2,401 | €4,476 | +€2,075 | +86.4% |
| Profit (loss) for the period before taxes | 9903 | €26,605 | €14,529 | -€12,076 | -45.4% |
| Income taxes | 67/77 | €10,000 | €5,072 | -€4,928 | -49.3% |
| Profit (loss) for the period | 9904 | €16,605 | €9,457 | -€7,148 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,605 | €9,457 | -€7,148 | -43.0% |
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 16 October 2026 via checked.be.