SERAPHINE: 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.
SERAPHINE
Largest movements
- Cash +€7,438
up €7,438 (+90.2%), from €8,242 to €15,680
mainly Trade debts (+€17,373) and Other debts (+€10,579)
- Receivables within one year +€6,077
up €6,077 (+38.7%), from €15,692 to €21,768
of which Trade receivables: +€5,304
- Tangible fixed assets +€783
up €783 (+45.1%), from €1,736 to €2,519
of which Furniture and vehicles: +€783
- Trade debts +€17,373
up €17,373 (+160.0%), from €10,856 to €28,229
- Other debts +€10,579
up €10,579 (+14.6%), from €72,232 to €82,811
- Profit (loss) carried forward -€9,133
down €9,133 (-9.6%), from -€95,022 to -€104,155
- Debts after one year -€6,040
down €6,040 (-54.0%), from €11,189 to €5,150
- Short-term financial debts +€719
up €719 (+54.9%), from €1,310 to €2,029
- Gross operating margin -€19,117
down €19,117, from €11,986 to -€7,131
- Depreciation -€10,098
down €10,098 (-94.9%), from €10,637 to €538
- Taxes -€1,500
down €1,500 (-100.0%), from €1,500 to €0
- Staff costs -€155
down €155, from €17 to -€137
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 | €28,380 | €42,678 | +€14,298 | +50.4% |
| Fixed assets | 21/28 | €4,436 | €5,219 | +€783 | +17.7% |
| Tangible fixed assets | 22/27 | €1,736 | €2,519 | +€783 | +45.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,736 | €2,519 | +€783 | +45.1% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €23,944 | €37,459 | +€13,515 | +56.4% |
| Amounts receivable within one year | 40/41 | €15,692 | €21,768 | +€6,077 | +38.7% |
| Trade receivables | 40 | €15,108 | €20,412 | +€5,304 | +35.1% |
| Other amounts receivable | 41 | €584 | €1,357 | +€773 | +132.4% |
| Cash at bank and in hand | 54/58 | €8,242 | €15,680 | +€7,438 | +90.2% |
| Deferred charges and accrued income | 490/1 | €10 | €10 | = | 0.0% |
| Total equity and liabilities | 10/49 | €28,380 | €42,678 | +€14,298 | +50.4% |
| Equity | 10/15 | -€76,430 | -€85,563 | -€9,133 | -11.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,022 | -€104,155 | -€9,133 | -9.6% |
| Amounts payable | 17/49 | €104,810 | €128,241 | +€23,431 | +22.4% |
| Amounts payable after more than one year | 17 | €11,189 | €5,150 | -€6,040 | -54.0% |
| Financial debts | 170/4 | €11,189 | €5,150 | -€6,040 | -54.0% |
| Amounts payable within one year | 42/48 | €93,621 | €123,091 | +€29,471 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €5,472 | €5,980 | +€508 | +9.3% |
| Financial debts | 43 | €1,310 | €2,029 | +€719 | +54.9% |
| Credit institutions | 430/8 | €1,310 | €2,029 | +€719 | +54.9% |
| Trade debts | 44 | €10,856 | €28,229 | +€17,373 | +160.0% |
| Suppliers | 440/4 | €10,856 | €28,229 | +€17,373 | +160.0% |
| Taxes, remuneration and social security | 45 | €3,749 | €4,041 | +€292 | +7.8% |
| Taxes | 450/3 | €3,749 | €4,041 | +€292 | +7.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €72,232 | €82,811 | +€10,579 | +14.6% |
| Remuneration, social security and pensions | 62 | €17 | -€137 | -€155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,637 | €538 | -€10,098 | -94.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €11,986 | -€7,131 | -€19,117 | |
| Operating profit (loss) | 9901 | €945 | -€7,932 | -€8,877 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,194 | €1,201 | +€7 | +0.6% |
| Recurring financial charges | 65 | €1,194 | €1,201 | +€7 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | -€248 | -€9,133 | -€8,885 | -3579.5% |
| Income taxes | 67/77 | €1,500 | €0 | -€1,500 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,748 | -€9,133 | -€7,385 | -422.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,748 | -€9,133 | -€7,385 | -422.4% |
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.