SERASOL: 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.
SERASOL
Largest movements
- Receivables within one year -€291,911
down €291,911 (-82.0%), from €355,865 to €63,954
of which Trade receivables: -€292,027
- Stocks and contracts -€92,663
down €92,663 (-89.9%), from €103,096 to €10,433
of which Contracts in progress: -€83,530
- Tangible fixed assets -€10,613
down €10,613 (-15.4%), from €69,026 to €58,413
of which Furniture and vehicles: -€7,035
- Trade debts -€207,910
down €207,910 (-90.7%), from €229,346 to €21,436
- Advances received -€110,059
no longer reported in 2024 (was €110,059)
- Other debts -€28,567
down €28,567 (-32.5%), from €87,849 to €59,282
- Tax, wage and social debts -€16,052
down €16,052 (-40.2%), from €39,913 to €23,861
of which Taxes: -€11,267
- Profit (loss) carried forward -€13,382
down €13,382 (-10.6%), from €126,106 to €112,724
- Gross operating margin -€144,413
down €144,413 (-89.1%), from €161,996 to €17,583
- Staff costs -€36,966
down €36,966 (-80.6%), from €45,850 to €8,884
- Write-downs -€23,814
down €23,814 (-793.8%), from -€3,000 to -€26,814
- Taxes -€22,527
down €22,527, from €22,118 to -€408
- Financial charges +€2,338
up €2,338 (+42.7%), from €5,479 to €7,817
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €855,834 | €466,723 | -€389,111 | -45.5% |
| Fixed assets | 21/28 | €69,026 | €58,413 | -€10,613 | -15.4% |
| Tangible fixed assets | 22/27 | €69,026 | €58,413 | -€10,613 | -15.4% |
| Land and buildings | 22 | €48,777 | €45,380 | -€3,397 | -7.0% |
| Plant, machinery and equipment | 23 | €1,471 | €1,289 | -€182 | -12.3% |
| Furniture and vehicles | 24 | €18,778 | €11,743 | -€7,035 | -37.5% |
| Current assets | 29/58 | €786,808 | €408,310 | -€378,498 | -48.1% |
| Stocks and contracts in progress | 3 | €103,096 | €10,433 | -€92,663 | -89.9% |
| Stocks | 30/36 | €19,566 | €10,433 | -€9,133 | -46.7% |
| Contracts in progress | 37 | €83,530 | - | -€83,530 | |
| Amounts receivable within one year | 40/41 | €355,865 | €63,954 | -€291,911 | -82.0% |
| Trade receivables | 40 | €355,862 | €63,835 | -€292,027 | -82.1% |
| Other amounts receivable | 41 | €4 | €119 | +€116 | +3285.2% |
| Cash at bank and in hand | 54/58 | €325,583 | €332,021 | +€6,438 | +2.0% |
| Deferred charges and accrued income | 490/1 | €2,264 | €1,902 | -€362 | -16.0% |
| Total equity and liabilities | 10/49 | €855,834 | €466,723 | -€389,111 | -45.5% |
| Equity | 10/15 | €352,864 | €339,482 | -€13,382 | -3.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €214,358 | €214,358 | = | 0.0% |
| Distributable reserves | 133 | €214,358 | €214,358 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,106 | €112,724 | -€13,382 | -10.6% |
| Amounts payable | 17/49 | €502,970 | €127,241 | -€375,729 | -74.7% |
| Amounts payable after more than one year | 17 | €9,853 | €4,830 | -€5,023 | -51.0% |
| Financial debts | 170/4 | €9,853 | €4,830 | -€5,023 | -51.0% |
| Amounts payable within one year | 42/48 | €483,776 | €109,602 | -€374,174 | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €6,609 | €5,023 | -€1,586 | -24.0% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Credit institutions | 430/8 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €229,346 | €21,436 | -€207,910 | -90.7% |
| Suppliers | 440/4 | €229,346 | €21,436 | -€207,910 | -90.7% |
| Advances received on contracts in progress | 46 | €110,059 | - | -€110,059 | |
| Taxes, remuneration and social security | 45 | €39,913 | €23,861 | -€16,052 | -40.2% |
| Taxes | 450/3 | €31,982 | €20,715 | -€11,267 | -35.2% |
| Remuneration and social security | 454/9 | €7,931 | €3,146 | -€4,786 | -60.3% |
| Other amounts payable | 47/48 | €87,849 | €59,282 | -€28,567 | -32.5% |
| Accrued charges and deferred income | 492/3 | €9,341 | €12,809 | +€3,468 | +37.1% |
| Remuneration, social security and pensions | 62 | €45,850 | €8,884 | -€36,966 | -80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,559 | €10,613 | -€946 | -8.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,000 | -€26,814 | -€23,814 | -793.8% |
| Other operating charges | 640/8 | €32,600 | €32,587 | -€13 | 0.0% |
| Gross operating margin | 9900 | €161,996 | €17,583 | -€144,413 | -89.1% |
| Operating profit (loss) | 9901 | €74,987 | -€7,687 | -€82,674 | |
| Financial income | 75/76B | €1,233 | €1,714 | +€481 | +39.0% |
| Recurring financial income | 75 | €1,233 | €1,714 | +€481 | +39.0% |
| Financial charges | 65/66B | €5,479 | €7,817 | +€2,338 | +42.7% |
| Recurring financial charges | 65 | €5,479 | €7,817 | +€2,338 | +42.7% |
| Profit (loss) for the period before taxes | 9903 | €70,741 | -€13,790 | -€84,531 | |
| Income taxes | 67/77 | €22,118 | -€408 | -€22,527 | |
| Profit (loss) for the period | 9904 | €48,623 | -€13,382 | -€62,005 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,623 | -€13,382 | -€62,005 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.