Sera: 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.
Sera
Largest movements
- Cash -€31,897
down €31,897 (-29.8%), from €106,868 to €74,971
mainly Contributions, distributions and other (-€33,364) and Tax, wage and social debts (-€7,089)
- Tangible fixed assets -€4,713
down €4,713 (-14.4%), from €32,804 to €28,091
of which Furniture and vehicles: -€2,799
- Receivables within one year -€4,564
down €4,564 (-31.3%), from €14,586 to €10,022
of which Other amounts receivable: -€9,914
- Current investments +€3,296
up €3,296 (+11.3%), from €29,268 to €32,565
- Profit (loss) carried forward -€23,547
down €23,547 (-91.4%), from €25,764 to €2,217
- Reserves -€20,000
down €20,000 (-14.0%), from €142,352 to €122,352
of which Distributable reserves: -€20,000
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Tax, wage and social debts -€7,089
down €7,089 (-57.1%), from €12,413 to €5,324
- Gross operating margin -€37,860
down €37,860 (-91.2%), from €41,536 to €3,676
- Taxes -€14,124
down €14,124, from €11,355 to -€2,768
- Financial income +€3,131
up €3,131 (+441.3%), from €710 to €3,840
- Depreciation +€1,213
up €1,213 (+22.6%), from €5,359 to €6,572
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 | €189,266 | €149,961 | -€39,305 | -20.8% |
| Fixed assets | 21/28 | €32,804 | €28,091 | -€4,713 | -14.4% |
| Tangible fixed assets | 22/27 | €32,804 | €28,091 | -€4,713 | -14.4% |
| Land and buildings | 22 | €21,545 | €20,833 | -€712 | -3.3% |
| Plant, machinery and equipment | 23 | €2,637 | €1,436 | -€1,201 | -45.5% |
| Furniture and vehicles | 24 | €8,622 | €5,823 | -€2,799 | -32.5% |
| Current assets | 29/58 | €156,462 | €121,870 | -€34,592 | -22.1% |
| Amounts receivable within one year | 40/41 | €14,586 | €10,022 | -€4,564 | -31.3% |
| Trade receivables | 40 | €950 | €6,300 | +€5,350 | +563.2% |
| Other amounts receivable | 41 | €13,636 | €3,722 | -€9,914 | -72.7% |
| Current investments | 50/53 | €29,268 | €32,565 | +€3,296 | +11.3% |
| Cash at bank and in hand | 54/58 | €106,868 | €74,971 | -€31,897 | -29.8% |
| Deferred charges and accrued income | 490/1 | €5,740 | €4,312 | -€1,428 | -24.9% |
| Total equity and liabilities | 10/49 | €189,266 | €149,961 | -€39,305 | -20.8% |
| Equity | 10/15 | €174,317 | €143,169 | -€31,147 | -17.9% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €142,352 | €122,352 | -€20,000 | -14.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €140,492 | €120,492 | -€20,000 | -14.2% |
| Profit (loss) carried forward | 14 | €25,764 | €2,217 | -€23,547 | -91.4% |
| Amounts payable | 17/49 | €14,949 | €6,792 | -€8,157 | -54.6% |
| Amounts payable within one year | 42/48 | €14,949 | €6,792 | -€8,157 | -54.6% |
| Trade debts | 44 | €2,337 | €1,175 | -€1,162 | -49.7% |
| Suppliers | 440/4 | €2,337 | €1,175 | -€1,162 | -49.7% |
| Taxes, remuneration and social security | 45 | €12,413 | €5,324 | -€7,089 | -57.1% |
| Taxes | 450/3 | €12,413 | €5,324 | -€7,089 | -57.1% |
| Other amounts payable | 47/48 | €199 | €293 | +€94 | +46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,359 | €6,572 | +€1,213 | +22.6% |
| Other operating charges | 640/8 | €188 | €592 | +€404 | +214.9% |
| Gross operating margin | 9900 | €41,536 | €3,676 | -€37,860 | -91.2% |
| Operating profit (loss) | 9901 | €35,989 | -€3,488 | -€39,477 | |
| Financial income | 75/76B | €710 | €3,840 | +€3,131 | +441.3% |
| Recurring financial income | 75 | €710 | €3,840 | +€3,131 | +441.3% |
| Financial charges | 65/66B | €991 | €904 | -€88 | -8.9% |
| Recurring financial charges | 65 | €991 | €904 | -€88 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €35,707 | -€551 | -€36,258 | |
| Income taxes | 67/77 | €11,355 | -€2,768 | -€14,124 | |
| Profit (loss) for the period | 9904 | €24,352 | €2,217 | -€22,135 | -90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,352 | €2,217 | -€22,135 | -90.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.