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
- Tangible fixed assets -€13,515
down €13,515 (-8.2%), from €163,913 to €150,398
of which Land and buildings: -€9,880
- Cash +€9,582
up €9,582 (+264.2%), from €3,627 to €13,209
mainly Depreciation (+€13,515) and Net result for the year (+€11,750)
- Receivables within one year -€4,333
down €4,333 (-91.2%), from €4,752 to €419
of which Trade receivables: -€4,295
- Current portion of long-term debt -€7,410
down €7,410 (-59.0%), from €12,553 to €5,143
- Tax, wage and social debts +€6,006
up €6,006 (+21.8%), from €27,495 to €33,501
of which Taxes: +€4,884
- Debts after one year -€5,143
down €5,143 (-25.4%), from €20,221 to €15,077
- Other debts +€4,336
up €4,336 (+22.1%), from €19,633 to €23,969
- Short-term financial debts -€3,436
down €3,436 (-10.5%), from €32,879 to €29,443
- Gross operating margin -€4,024
down €4,024 (-4.4%), from €90,461 to €86,437
- Other operating charges -€1,294
down €1,294 (-43.9%), from €2,946 to €1,652
- Financial charges +€1,150
up €1,150 (+41.5%), from €2,771 to €3,921
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 | €231,341 | €221,443 | -€9,898 | -4.3% |
| Fixed assets | 21/28 | €164,153 | €150,788 | -€13,365 | -8.1% |
| Tangible fixed assets | 22/27 | €163,913 | €150,398 | -€13,515 | -8.2% |
| Land and buildings | 22 | €151,538 | €141,658 | -€9,880 | -6.5% |
| Plant, machinery and equipment | 23 | €4,107 | €2,297 | -€1,810 | -44.1% |
| Furniture and vehicles | 24 | €8,268 | €6,444 | -€1,825 | -22.1% |
| Financial fixed assets | 28 | €240 | €390 | +€150 | +62.5% |
| Current assets | 29/58 | €67,188 | €70,655 | +€3,467 | +5.2% |
| Stocks and contracts in progress | 3 | €57,438 | €55,582 | -€1,857 | -3.2% |
| Stocks | 30/36 | €57,438 | €55,582 | -€1,857 | -3.2% |
| Amounts receivable within one year | 40/41 | €4,752 | €419 | -€4,333 | -91.2% |
| Trade receivables | 40 | €4,295 | €0 | -€4,295 | -100.0% |
| Other amounts receivable | 41 | €457 | €419 | -€38 | -8.2% |
| Current investments | 50/53 | €207 | €207 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,627 | €13,209 | +€9,582 | +264.2% |
| Deferred charges and accrued income | 490/1 | €1,163 | €1,238 | +€74 | +6.4% |
| Total equity and liabilities | 10/49 | €231,341 | €221,443 | -€9,898 | -4.3% |
| Equity | 10/15 | €111,835 | €109,116 | -€2,720 | -2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,556 | €57,836 | -€2,720 | -4.5% |
| Distributable reserves | 133 | €60,556 | €57,836 | -€2,720 | -4.5% |
| Profit (loss) carried forward | 14 | €32,680 | €32,680 | = | 0.0% |
| Amounts payable | 17/49 | €119,505 | €112,327 | -€7,178 | -6.0% |
| Amounts payable after more than one year | 17 | €20,221 | €15,077 | -€5,143 | -25.4% |
| Financial debts | 170/4 | €20,221 | €15,077 | -€5,143 | -25.4% |
| Amounts payable within one year | 42/48 | €99,285 | €97,250 | -€2,035 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €12,553 | €5,143 | -€7,410 | -59.0% |
| Financial debts | 43 | €32,879 | €29,443 | -€3,436 | -10.5% |
| Credit institutions | 430/8 | €32,879 | €29,443 | -€3,436 | -10.5% |
| Trade debts | 44 | €6,726 | €5,194 | -€1,531 | -22.8% |
| Suppliers | 440/4 | €6,726 | €5,194 | -€1,531 | -22.8% |
| Taxes, remuneration and social security | 45 | €27,495 | €33,501 | +€6,006 | +21.8% |
| Taxes | 450/3 | €23,591 | €28,475 | +€4,884 | +20.7% |
| Remuneration and social security | 454/9 | €3,904 | €5,026 | +€1,122 | +28.7% |
| Other amounts payable | 47/48 | €19,633 | €23,969 | +€4,336 | +22.1% |
| Remuneration, social security and pensions | 62 | €48,533 | €49,120 | +€587 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,056 | €13,515 | +€460 | +3.5% |
| Other operating charges | 640/8 | €2,946 | €1,652 | -€1,294 | -43.9% |
| Gross operating margin | 9900 | €90,461 | €86,437 | -€4,024 | -4.4% |
| Operating profit (loss) | 9901 | €25,927 | €22,149 | -€3,777 | -14.6% |
| Financial income | 75/76B | €1,576 | €2,398 | +€822 | +52.1% |
| Recurring financial income | 75 | €1,576 | €2,398 | +€822 | +52.1% |
| Financial charges | 65/66B | €2,771 | €3,921 | +€1,150 | +41.5% |
| Recurring financial charges | 65 | €2,771 | €3,921 | +€1,150 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €24,732 | €20,626 | -€4,106 | -16.6% |
| Income taxes | 67/77 | €9,569 | €8,876 | -€693 | -7.2% |
| Profit (loss) for the period | 9904 | €15,163 | €11,750 | -€3,412 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,163 | €11,750 | -€3,412 | -22.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.