SERA Building & Industry: 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.
SERA Building & Industry
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+1,886%), from €59,861 to €1.2m
of which Land and buildings: +€1.1m
- Cash +€56,971
up €56,971 (+281%), from €20,264 to €77,235
mainly Debts after one year (+€1.0m) and Net result for the year (+€244,851)
- Debts after one year +€1.0m
up €1.0m (+800%), from €125,232 to €1.1m
- Reserves +€175,000
up €175,000 (+190%), from €92,000 to €267,000
- Other debts +€70,030
up €70,030 (+315%), from €22,214 to €92,244
- Current portion of long-term debt -€45,299
down €45,299 (-32.3%), from €140,401 to €95,101
- Turnover +€268,650
new in 2025: €268,650
- Financial income +€195,000
up €195,000 (+355%), from €55,000 to €250,000
- Purchases and services +€145,908
new in 2025: €145,908
- Gross operating margin +€97,177
up €97,177 (+190%), from €51,064 to €148,240
- Depreciation +€57,708
up €57,708 (+2,123%), from €2,718 to €60,426
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 | €415,506 | €1,624,359 | +€1.2m | +291% |
| Fixed assets | 21/28 | €369,861 | €1,501,101 | +€1.1m | +306% |
| Tangible fixed assets | 22/27 | €59,861 | €1,189,101 | +€1.1m | +1,886% |
| Land and buildings | 22 | - | €1,137,927 | +€1.1m | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €4,861 | €2,321 | -€2,539 | -52.2% |
| Leasing and similar rights | 25 | - | €48,853 | +€48,853 | |
| Assets under construction and advance payments | 27 | €55,000 | - | -€55,000 | |
| Financial fixed assets | 28 | €310,000 | €312,000 | +€2,000 | +0.6% |
| Current assets | 29/58 | €45,645 | €123,258 | +€77,613 | +170% |
| Amounts receivable within one year | 40/41 | €23,143 | €38,003 | +€14,861 | +64.2% |
| Trade receivables | 40 | €23,143 | €38,003 | +€14,861 | +64.2% |
| Cash at bank and in hand | 54/58 | €20,264 | €77,235 | +€56,971 | +281% |
| Deferred charges and accrued income | 490/1 | €2,239 | €8,020 | +€5,781 | +258% |
| Total equity and liabilities | 10/49 | €415,506 | €1,624,359 | +€1.2m | +291% |
| Equity | 10/15 | €97,433 | €272,284 | +€174,851 | +179% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €92,000 | €267,000 | +€175,000 | +190% |
| Distributable reserves | 133 | €92,000 | €267,000 | +€175,000 | +190% |
| Profit (loss) carried forward | 14 | €433 | €284 | -€149 | -34.4% |
| Amounts payable | 17/49 | €318,073 | €1,352,075 | +€1.0m | +325% |
| Amounts payable after more than one year | 17 | €125,232 | €1,127,483 | +€1.0m | +800% |
| Financial debts | 170/4 | €125,232 | €1,127,483 | +€1.0m | +800% |
| Amounts payable within one year | 42/48 | €192,337 | €224,525 | +€32,188 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €140,401 | €95,101 | -€45,299 | -32.3% |
| Trade debts | 44 | €10,998 | €13,910 | +€2,912 | +26.5% |
| Suppliers | 440/4 | €10,998 | €13,910 | +€2,912 | +26.5% |
| Taxes, remuneration and social security | 45 | €18,725 | €23,271 | +€4,546 | +24.3% |
| Taxes | 450/3 | €16,075 | €23,271 | +€7,196 | +44.8% |
| Remuneration and social security | 454/9 | €2,650 | - | -€2,650 | |
| Other amounts payable | 47/48 | €22,214 | €92,244 | +€70,030 | +315% |
| Accrued charges and deferred income | 492/3 | €504 | €67 | -€437 | -86.7% |
| Turnover | 70 | - | €268,650 | +€268,650 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €145,908 | +€145,908 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,718 | €60,426 | +€57,708 | +2,123% |
| Other operating charges | 640/8 | €1,059 | €12,683 | +€11,624 | +1,097% |
| Non-recurring operating charges | 66A | - | €25,605 | +€25,605 | |
| Gross operating margin | 9900 | €51,064 | €148,240 | +€97,177 | +190% |
| Operating profit (loss) | 9901 | €47,287 | €49,526 | +€2,240 | +4.7% |
| Financial income | 75/76B | €55,000 | €250,000 | +€195,000 | +355% |
| Recurring financial income | 75 | €55,000 | €250,000 | +€195,000 | +355% |
| Financial charges | 65/66B | €13,102 | €54,120 | +€41,018 | +313% |
| Recurring financial charges | 65 | €13,102 | €54,120 | +€41,018 | +313% |
| Profit (loss) for the period before taxes | 9903 | €89,184 | €245,406 | +€156,221 | +175% |
| Income taxes | 67/77 | €5,205 | €555 | -€4,650 | -89.3% |
| Profit (loss) for the period | 9904 | €83,979 | €244,851 | +€160,872 | +192% |
| Profit (loss) for the period to be appropriated | 9905 | €83,979 | €244,851 | +€160,872 | +192% |
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 25 October 2026 via checked.be.