SERAFIJN: 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.
SERAFIJN
Largest movements
- Tangible fixed assets +€34,976
up €34,976 (+5.9%), from €589,497 to €624,473
- Cash -€8,154
down €8,154 (-79.3%), from €10,276 to €2,123
mainly Current portion of long-term debt (-€381,600) and Investment in fixed assets (net) (-€34,976)
- Current portion of long-term debt -€381,600
no longer reported in 2025 (was €381,600)
- Debts after one year +€265,000
new in 2025: €265,000
- Other debts +€130,064
new in 2025: €130,064
- Trade debts +€29,561
up €29,561 (+553.0%), from €5,346 to €34,907
- Profit (loss) carried forward -€13,157
down €13,157 (-33.5%), from -€39,245 to -€52,402
- Gross operating margin +€19,616
up €19,616, from -€14,523 to €5,093
- Financial charges +€16,698
up €16,698 (+38387.3%), from €44 to €16,742
- Other operating charges -€2,293
down €2,293 (-63.9%), from €3,586 to €1,293
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 | €602,702 | €632,570 | +€29,868 | +5.0% |
| Formation expenses | 20 | €554 | €340 | -€215 | -38.8% |
| Fixed assets | 21/28 | €589,497 | €624,473 | +€34,976 | +5.9% |
| Tangible fixed assets | 22/27 | €589,497 | €624,473 | +€34,976 | +5.9% |
| Land and buildings | 22 | €589,497 | €624,473 | +€34,976 | +5.9% |
| Current assets | 29/58 | €12,650 | €7,757 | -€4,892 | -38.7% |
| Amounts receivable within one year | 40/41 | €1,885 | €5,635 | +€3,750 | +199.0% |
| Trade receivables | 40 | - | €5,634 | +€5,634 | |
| Other amounts receivable | 41 | €1,885 | €1 | -€1,884 | -99.9% |
| Cash at bank and in hand | 54/58 | €10,276 | €2,123 | -€8,154 | -79.3% |
| Deferred charges and accrued income | 490/1 | €489 | - | -€489 | |
| Total equity and liabilities | 10/49 | €602,702 | €632,570 | +€29,868 | +5.0% |
| Equity | 10/15 | €215,756 | €202,599 | -€13,157 | -6.1% |
| Contributions | 10/11 | €255,001 | €255,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,245 | -€52,402 | -€13,157 | -33.5% |
| Amounts payable | 17/49 | €386,946 | €429,971 | +€43,025 | +11.1% |
| Amounts payable after more than one year | 17 | - | €265,000 | +€265,000 | |
| Financial debts | 170/4 | - | €265,000 | +€265,000 | |
| Amounts payable within one year | 42/48 | €386,946 | €164,971 | -€221,975 | -57.4% |
| Current portion of amounts payable after more than one year | 42 | €381,600 | - | -€381,600 | |
| Trade debts | 44 | €5,346 | €34,907 | +€29,561 | +553.0% |
| Suppliers | 440/4 | €5,346 | €34,907 | +€29,561 | +553.0% |
| Other amounts payable | 47/48 | - | €130,064 | +€130,064 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180 | €215 | +€35 | +19.5% |
| Other operating charges | 640/8 | €3,586 | €1,293 | -€2,293 | -63.9% |
| Gross operating margin | 9900 | -€14,523 | €5,093 | +€19,616 | |
| Operating profit (loss) | 9901 | -€18,289 | €3,585 | +€21,875 | |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €44 | €16,742 | +€16,698 | +38387.3% |
| Recurring financial charges | 65 | €44 | €16,742 | +€16,698 | +38387.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,325 | -€13,157 | +€5,169 | +28.2% |
| Income taxes | 67/77 | €2 | - | -€2 | |
| Profit (loss) for the period | 9904 | -€18,328 | -€13,157 | +€5,171 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,328 | -€13,157 | +€5,171 | +28.2% |
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.