SERANIE: 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.
SERANIE
Largest movements
- Tangible fixed assets +€285,109
up €285,109 (+415.4%), from €68,643 to €353,751
of which Land and buildings: +€288,462
- Cash +€24,844
up €24,844 (+144.2%), from €17,226 to €42,070
mainly Debts after one year (+€264,583) and Depreciation (+€54,713)
- Stocks and contracts +€6,282
up €6,282 (+41.2%), from €15,254 to €21,536
- Debts after one year +€264,583
up €264,583 (+656.6%), from €40,298 to €304,881
- Current portion of long-term debt +€13,735
up €13,735 (+102.0%), from €13,465 to €27,200
- Tax, wage and social debts +€11,833
up €11,833 (+37.8%), from €31,343 to €43,176
- Trade debts +€10,933
up €10,933 (+65.7%), from €16,643 to €27,576
- Profit (loss) carried forward +€7,505
up €7,505 (+12.6%), from €59,651 to €67,157
- Depreciation +€50,341
up €50,341 (+1151.7%), from €4,371 to €54,713
- Gross operating margin +€17,057
up €17,057 (+28.2%), from €60,483 to €77,539
- Taxes -€11,500
down €11,500 (-69.6%), from €16,526 to €5,026
- Financial charges +€3,401
up €3,401 (+135.8%), from €2,504 to €5,905
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 | €164,181 | €477,632 | +€313,451 | +190.9% |
| Fixed assets | 21/28 | €69,393 | €353,751 | +€284,359 | +409.8% |
| Tangible fixed assets | 22/27 | €68,643 | €353,751 | +€285,109 | +415.4% |
| Land and buildings | 22 | - | €288,462 | +€288,462 | |
| Plant, machinery and equipment | 23 | €3,231 | €2,883 | -€348 | -10.8% |
| Furniture and vehicles | 24 | €65,411 | €62,406 | -€3,005 | -4.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €750 | €0 | -€750 | -100.0% |
| Current assets | 29/58 | €94,789 | €123,881 | +€29,092 | +30.7% |
| Stocks and contracts in progress | 3 | €15,254 | €21,536 | +€6,282 | +41.2% |
| Stocks | 30/36 | €15,254 | €21,536 | +€6,282 | +41.2% |
| Amounts receivable within one year | 40/41 | €61,708 | €58,850 | -€2,858 | -4.6% |
| Trade receivables | 40 | €61,708 | €58,850 | -€2,858 | -4.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €17,226 | €42,070 | +€24,844 | +144.2% |
| Deferred charges and accrued income | 490/1 | €601 | €1,426 | +€825 | +137.1% |
| Total equity and liabilities | 10/49 | €164,181 | €477,632 | +€313,451 | +190.9% |
| Equity | 10/15 | €62,151 | €69,657 | +€7,505 | +12.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,651 | €67,157 | +€7,505 | +12.6% |
| Amounts payable | 17/49 | €102,030 | €407,975 | +€305,946 | +299.9% |
| Amounts payable after more than one year | 17 | €40,298 | €304,881 | +€264,583 | +656.6% |
| Financial debts | 170/4 | €40,298 | €304,881 | +€264,583 | +656.6% |
| Amounts payable within one year | 42/48 | €61,732 | €103,094 | +€41,362 | +67.0% |
| Current portion of amounts payable after more than one year | 42 | €13,465 | €27,200 | +€13,735 | +102.0% |
| Trade debts | 44 | €16,643 | €27,576 | +€10,933 | +65.7% |
| Suppliers | 440/4 | €16,643 | €27,576 | +€10,933 | +65.7% |
| Taxes, remuneration and social security | 45 | €31,343 | €43,176 | +€11,833 | +37.8% |
| Taxes | 450/3 | €31,343 | €43,176 | +€11,833 | +37.8% |
| Other amounts payable | 47/48 | €281 | €5,142 | +€4,861 | +1727.6% |
| Non-recurring operating income | 76A | €758 | €0 | -€758 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,830 | €1,920 | +€90 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,371 | €54,713 | +€50,341 | +1151.7% |
| Other operating charges | 640/8 | €3,112 | €2,641 | -€471 | -15.1% |
| Gross operating margin | 9900 | €60,483 | €77,539 | +€17,057 | +28.2% |
| Operating profit (loss) | 9901 | €51,170 | €18,266 | -€32,904 | -64.3% |
| Financial income | 75/76B | €296 | €171 | -€125 | -42.3% |
| Recurring financial income | 75 | €296 | €171 | -€125 | -42.3% |
| Financial charges | 65/66B | €2,504 | €5,905 | +€3,401 | +135.8% |
| Recurring financial charges | 65 | €2,504 | €5,905 | +€3,401 | +135.8% |
| Profit (loss) for the period before taxes | 9903 | €48,961 | €12,531 | -€36,430 | -74.4% |
| Income taxes | 67/77 | €16,526 | €5,026 | -€11,500 | -69.6% |
| Profit (loss) for the period | 9904 | €32,435 | €7,505 | -€24,930 | -76.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,435 | €7,505 | -€24,930 | -76.9% |
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 4 October 2026 via checked.be.