SERAGRI: 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.
SERAGRI
Largest movements
- Current investments +€1.1m
up €1.1m (+157.1%), from €700,000 to €1.8m
- Cash -€274,226
down €274,226 (-32.5%), from €844,324 to €570,098
mainly Current investments (-€1.1m) and Trade debts (-€182,145)
- Receivables within one year -€107,555
down €107,555 (-21.0%), from €511,907 to €404,352
of which Trade receivables: -€118,744
- Tangible fixed assets -€105,432
down €105,432 (-4.6%), from €2.3m to €2.2m
of which Land and buildings: -€171,787
- Profit (loss) carried forward +€783,118
up €783,118 (+26.3%), from €3.0m to €3.8m
- Trade debts -€182,145
down €182,145 (-35.9%), from €507,286 to €325,141
- Gross operating margin +€1.0m
up €1.0m (+199.6%), from €520,596 to €1.6m
- Taxes +€264,033
up €264,033 (+3565.6%), from €7,405 to €271,438
- Financial income -€20,263
down €20,263 (-44.0%), from €46,083 to €25,819
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 | €5,087,683 | €5,730,590 | +€642,906 | +12.6% |
| Fixed assets | 21/28 | €2,306,982 | €2,201,550 | -€105,432 | -4.6% |
| Tangible fixed assets | 22/27 | €2,298,563 | €2,193,131 | -€105,432 | -4.6% |
| Land and buildings | 22 | €2,285,193 | €2,113,406 | -€171,787 | -7.5% |
| Plant, machinery and equipment | 23 | €7,500 | €4,500 | -€3,000 | -40.0% |
| Furniture and vehicles | 24 | €5,870 | €75,225 | +€69,355 | +1181.6% |
| Financial fixed assets | 28 | €8,419 | €8,419 | = | 0.0% |
| Current assets | 29/58 | €2,780,702 | €3,529,040 | +€748,338 | +26.9% |
| Stocks and contracts in progress | 3 | €714,050 | €744,600 | +€30,550 | +4.3% |
| Stocks | 30/36 | €714,050 | €744,600 | +€30,550 | +4.3% |
| Amounts receivable within one year | 40/41 | €511,907 | €404,352 | -€107,555 | -21.0% |
| Trade receivables | 40 | €365,354 | €246,609 | -€118,744 | -32.5% |
| Other amounts receivable | 41 | €146,553 | €157,743 | +€11,189 | +7.6% |
| Current investments | 50/53 | €700,000 | €1,800,000 | +€1.1m | +157.1% |
| Cash at bank and in hand | 54/58 | €844,324 | €570,098 | -€274,226 | -32.5% |
| Deferred charges and accrued income | 490/1 | €10,421 | €9,989 | -€431 | -4.1% |
| Total equity and liabilities | 10/49 | €5,087,683 | €5,730,590 | +€642,906 | +12.6% |
| Equity | 10/15 | €3,788,015 | €4,571,133 | +€783,118 | +20.7% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €685,130 | €685,130 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €672,736 | €672,736 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,978,937 | €3,762,055 | +€783,118 | +26.3% |
| Amounts payable | 17/49 | €1,299,669 | €1,159,457 | -€140,212 | -10.8% |
| Amounts payable within one year | 42/48 | €1,278,846 | €1,090,866 | -€187,981 | -14.7% |
| Financial debts | 43 | €360,000 | €340,000 | -€20,000 | -5.6% |
| Credit institutions | 430/8 | €360,000 | €340,000 | -€20,000 | -5.6% |
| Trade debts | 44 | €507,286 | €325,141 | -€182,145 | -35.9% |
| Suppliers | 440/4 | €507,286 | €325,141 | -€182,145 | -35.9% |
| Taxes, remuneration and social security | 45 | €34,304 | €29,891 | -€4,413 | -12.9% |
| Taxes | 450/3 | €3,765 | €639 | -€3,126 | -83.0% |
| Remuneration and social security | 454/9 | €30,539 | €29,252 | -€1,287 | -4.2% |
| Other amounts payable | 47/48 | €377,256 | €395,834 | +€18,577 | +4.9% |
| Accrued charges and deferred income | 492/3 | €20,823 | €68,592 | +€47,769 | +229.4% |
| Non-recurring operating income | 76A | - | €1,143,564 | +€1.1m | |
| Remuneration, social security and pensions | 62 | €250,232 | €248,872 | -€1,360 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,322 | €91,623 | +€4,301 | +4.9% |
| Other operating charges | 640/8 | €154,125 | €148,538 | -€5,587 | -3.6% |
| Non-recurring operating charges | 66A | €4,425 | - | -€4,425 | |
| Gross operating margin | 9900 | €520,596 | €1,559,605 | +€1.0m | +199.6% |
| Operating profit (loss) | 9901 | €24,492 | €1,070,572 | +€1.0m | +4271.1% |
| Financial income | 75/76B | €46,083 | €25,819 | -€20,263 | -44.0% |
| Recurring financial income | 75 | €46,083 | €25,819 | -€20,263 | -44.0% |
| Financial charges | 65/66B | €50,511 | €41,836 | -€8,675 | -17.2% |
| Recurring financial charges | 65 | €50,511 | €41,836 | -€8,675 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €20,064 | €1,054,555 | +€1.0m | +5156.1% |
| Income taxes | 67/77 | €7,405 | €271,438 | +€264,033 | +3565.6% |
| Profit (loss) for the period | 9904 | €12,659 | €783,118 | +€770,459 | +6086.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,659 | €783,118 | +€770,459 | +6086.5% |
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 12 October 2026 via checked.be.