SER&PRO: what changed
Two fiscal 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.
SER&PRO
Largest movements
- Receivables after one year -€46,000
no longer reported in 2025 (was €46,000)
- Receivables within one year +€11,186
up €11,186 (+4.0%), from €282,016 to €293,202
of which Other amounts receivable: +€9,052
- Cash -€8,015
down €8,015 (-53.7%), from €14,938 to €6,923
mainly Other debts (-€60,000) and Contributions, distributions and other (-€30,000)
- Other debts -€60,000
down €60,000 (-66.7%), from €90,000 to €30,000
- Profit (loss) carried forward +€17,567
up €17,567 (+10.3%), from €171,049 to €188,616
- Trade debts +€9,829
up €9,829 (+93.8%), from €10,475 to €20,304
of which Suppliers: +€9,701
- Turnover -€183,419
down €183,419 (-46.9%), from €390,838 to €207,419
- Gross operating margin -€154,975
down €154,975 (-68.0%), from €227,833 to €72,858
- Purchases and services -€28,444
down €28,444 (-17.4%), from €163,005 to €134,561
- Taxes -€21,097
down €21,097 (-80.7%), from €26,126 to €5,029
- Financial charges -€6,526
down €6,526 (-58.4%), from €11,180 to €4,654
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.
Cash bridge derived
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 | €363,691 | €323,378 | -€40,313 | -11.1% |
| Fixed assets | 21/28 | €20,737 | €23,253 | +€2,516 | +12.1% |
| Tangible fixed assets | 22/27 | €20,737 | €23,253 | +€2,516 | +12.1% |
| Plant, machinery and equipment | 23 | €236 | €1,333 | +€1,098 | +465.5% |
| Furniture and vehicles | 24 | €20,501 | €21,920 | +€1,419 | +6.9% |
| Current assets | 29/58 | €342,954 | €300,125 | -€42,829 | -12.5% |
| Amounts receivable after more than one year | 29 | €46,000 | - | -€46,000 | |
| Other amounts receivable | 291 | €46,000 | - | -€46,000 | |
| Amounts receivable within one year | 40/41 | €282,016 | €293,202 | +€11,186 | +4.0% |
| Trade receivables | 40 | €6,167 | €8,301 | +€2,134 | +34.6% |
| Other amounts receivable | 41 | €275,849 | €284,901 | +€9,052 | +3.3% |
| Cash at bank and in hand | 54/58 | €14,938 | €6,923 | -€8,015 | -53.7% |
| Total equity and liabilities | 10/49 | €363,691 | €323,378 | -€40,313 | -11.1% |
| Equity | 10/15 | €207,509 | €225,076 | +€17,567 | +8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,860 | €17,860 | = | 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% |
| Tax-exempt reserves | 132 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,049 | €188,616 | +€17,567 | +10.3% |
| Amounts payable | 17/49 | €156,182 | €98,302 | -€57,880 | -37.1% |
| Amounts payable after more than one year | 17 | €17,619 | €14,491 | -€3,128 | -17.8% |
| Financial debts | 170/4 | €17,619 | €14,491 | -€3,128 | -17.8% |
| Amounts payable within one year | 42/48 | €138,563 | €83,811 | -€54,752 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €8,333 | €6,590 | -€1,743 | -20.9% |
| Financial debts | 43 | €80 | - | -€80 | |
| Credit institutions | 430/8 | €80 | - | -€80 | |
| Trade debts | 44 | €10,475 | €20,304 | +€9,829 | +93.8% |
| Suppliers | 440/4 | €1,460 | €11,161 | +€9,701 | +664.4% |
| Bills of exchange payable | 441 | €9,015 | €9,143 | +€128 | +1.4% |
| Taxes, remuneration and social security | 45 | €29,674 | €26,916 | -€2,758 | -9.3% |
| Taxes | 450/3 | €29,674 | €25,699 | -€3,975 | -13.4% |
| Remuneration and social security | 454/9 | - | €1,217 | +€1,217 | |
| Other amounts payable | 47/48 | €90,000 | €30,000 | -€60,000 | -66.7% |
| Turnover | 70 | €390,838 | €207,419 | -€183,419 | -46.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €163,005 | €134,561 | -€28,444 | -17.4% |
| Remuneration, social security and pensions | 62 | - | €3,862 | +€3,862 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,114 | €10,830 | +€2,717 | +33.5% |
| Other operating charges | 640/8 | €1,012 | €920 | -€92 | -9.1% |
| Gross operating margin | 9900 | €227,833 | €72,858 | -€154,975 | -68.0% |
| Operating profit (loss) | 9901 | €218,707 | €57,245 | -€161,462 | -73.8% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €11,180 | €4,654 | -€6,526 | -58.4% |
| Recurring financial charges | 65 | €11,180 | €4,654 | -€6,526 | -58.4% |
| Profit (loss) for the period before taxes | 9903 | €207,527 | €52,596 | -€154,931 | -74.7% |
| Income taxes | 67/77 | €26,126 | €5,029 | -€21,097 | -80.7% |
| Profit (loss) for the period | 9904 | €181,401 | €47,567 | -€133,834 | -73.8% |
| Profit (loss) for the period to be appropriated | 9905 | €181,401 | €47,567 | -€133,834 | -73.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.