SERAL: 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.
SERAL
Largest movements
- Tangible fixed assets -€11,632
down €11,632 (-3.4%), from €339,641 to €328,009
of which Land and buildings: -€12,711
- Cash -€10,116
down €10,116 (-21.7%), from €46,518 to €36,402
mainly Debts after one year (-€13,701) and Other debts (-€10,000)
- Debts after one year -€13,701
down €13,701 (-7.6%), from €181,476 to €167,774
- Other debts -€10,000
down €10,000 (-22.2%), from €44,948 to €34,948
- Other operating charges +€3,093
up €3,093 (+724.7%), from €427 to €3,520
- Depreciation +€291
up €291 (+2.1%), from €13,921 to €14,212
- Financial charges -€289
down €289 (-6.1%), from €4,772 to €4,483
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 | €386,225 | €364,475 | -€21,750 | -5.6% |
| Fixed assets | 21/28 | €339,641 | €328,009 | -€11,632 | -3.4% |
| Tangible fixed assets | 22/27 | €339,641 | €328,009 | -€11,632 | -3.4% |
| Land and buildings | 22 | €337,221 | €324,510 | -€12,711 | -3.8% |
| Plant, machinery and equipment | 23 | - | €2,289 | +€2,289 | |
| Other tangible fixed assets | 26 | €2,420 | €1,210 | -€1,210 | -50.0% |
| Current assets | 29/58 | €46,585 | €36,466 | -€10,118 | -21.7% |
| Amounts receivable within one year | 40/41 | €67 | €65 | -€2 | -3.4% |
| Other amounts receivable | 41 | €67 | €65 | -€2 | -3.4% |
| Cash at bank and in hand | 54/58 | €46,518 | €36,402 | -€10,116 | -21.7% |
| Total equity and liabilities | 10/49 | €386,225 | €364,475 | -€21,750 | -5.6% |
| Equity | 10/15 | €145,145 | €146,801 | +€1,656 | +1.1% |
| Contributions | 10/11 | €24,779 | €24,779 | = | 0.0% |
| Reserves | 13 | €22,054 | €22,054 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,142 | €3,142 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,142 | €3,142 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,912 | €18,912 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,312 | €99,969 | +€1,656 | +1.7% |
| Amounts payable | 17/49 | €241,080 | €217,674 | -€23,406 | -9.7% |
| Amounts payable after more than one year | 17 | €181,476 | €167,774 | -€13,701 | -7.6% |
| Financial debts | 170/4 | €181,476 | €167,774 | -€13,701 | -7.6% |
| Amounts payable within one year | 42/48 | €58,354 | €48,650 | -€9,705 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €13,406 | €13,701 | +€295 | +2.2% |
| Other amounts payable | 47/48 | €44,948 | €34,948 | -€10,000 | -22.2% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,921 | €14,212 | +€291 | +2.1% |
| Other operating charges | 640/8 | €427 | €3,520 | +€3,093 | +724.7% |
| Gross operating margin | 9900 | €23,510 | €23,656 | +€145 | +0.6% |
| Operating profit (loss) | 9901 | €9,163 | €5,923 | -€3,239 | -35.4% |
| Financial income | 75/76B | €224 | €216 | -€8 | -3.4% |
| Recurring financial income | 75 | €224 | €216 | -€8 | -3.4% |
| Financial charges | 65/66B | €4,772 | €4,483 | -€289 | -6.1% |
| Recurring financial charges | 65 | €4,772 | €4,483 | -€289 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €4,614 | €1,656 | -€2,958 | -64.1% |
| Profit (loss) for the period | 9904 | €4,614 | €1,656 | -€2,958 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,614 | €1,656 | -€2,958 | -64.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.