SERBAN: what changed
Two financial 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.
SERBAN
Largest movements
- Cash +€54,912
up €54,912 (+786%), from €6,987 to €61,899
mainly Other debts (+€40,000) and Receivables within one year (+€32,010)
- Receivables within one year -€32,010
down €32,010 (-89.4%), from €35,789 to €3,779
of which Trade receivables: -€27,022
- Tangible fixed assets +€911
up €911 (+4.5%), from €20,244 to €21,154
of which Assets under construction and advance payments: +€11,766
- Other debts +€40,000
new in 2025: €40,000
- Profit (loss) carried forward -€28,022
down €28,022 (-52.3%), from €53,570 to €25,549
- Tax, wage and social debts +€13,045
up €13,045 (+522%), from €2,497 to €15,542
- Depreciation -€10,495
down €10,495 (-52.3%), from €20,075 to €9,581
- Other operating charges -€5,885
down €5,885 (-69.5%), from €8,474 to €2,588
- Taxes +€4,022
up €4,022 (+161%), from €2,497 to €6,519
- Financial charges +€1,683
up €1,683 (+51.0%), from €3,303 to €4,986
- Gross operating margin +€770
up €770 (+1.8%), from €41,942 to €42,712
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.
Derived cash bridge
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 | €63,020 | €87,181 | +€24,161 | +38.3% |
| Fixed assets | 21/28 | €20,244 | €21,154 | +€911 | +4.5% |
| Tangible fixed assets | 22/27 | €20,244 | €21,154 | +€911 | +4.5% |
| Plant, machinery and equipment | 23 | €6,130 | €2,524 | -€3,607 | -58.8% |
| Furniture and vehicles | 24 | €14,113 | €6,865 | -€7,248 | -51.4% |
| Assets under construction and advance payments | 27 | - | €11,766 | +€11,766 | |
| Current assets | 29/58 | €42,776 | €66,027 | +€23,250 | +54.4% |
| Amounts receivable within one year | 40/41 | €35,789 | €3,779 | -€32,010 | -89.4% |
| Trade receivables | 40 | €27,022 | - | -€27,022 | |
| Other amounts receivable | 41 | €8,767 | €3,779 | -€4,988 | -56.9% |
| Cash at bank and in hand | 54/58 | €6,987 | €61,899 | +€54,912 | +786% |
| Deferred charges and accrued income | 490/1 | - | €348 | +€348 | |
| Total equity and liabilities | 10/49 | €63,020 | €87,181 | +€24,161 | +38.3% |
| Equity | 10/15 | €58,570 | €30,549 | -€28,022 | -47.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,570 | €25,549 | -€28,022 | -52.3% |
| Amounts payable | 17/49 | €4,450 | €56,632 | +€52,182 | +1,173% |
| Amounts payable within one year | 42/48 | €4,450 | €56,632 | +€52,182 | +1,173% |
| Trade debts | 44 | €1,952 | €1,090 | -€862 | -44.2% |
| Suppliers | 440/4 | €1,952 | €1,090 | -€862 | -44.2% |
| Taxes, remuneration and social security | 45 | €2,497 | €15,542 | +€13,045 | +522% |
| Taxes | 450/3 | €2,497 | €15,542 | +€13,045 | +522% |
| Other amounts payable | 47/48 | - | €40,000 | +€40,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,075 | €9,581 | -€10,495 | -52.3% |
| Other operating charges | 640/8 | €8,474 | €2,588 | -€5,885 | -69.5% |
| Gross operating margin | 9900 | €41,942 | €42,712 | +€770 | +1.8% |
| Operating profit (loss) | 9901 | €13,392 | €30,542 | +€17,150 | +128% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €3,303 | €4,986 | +€1,683 | +51.0% |
| Recurring financial charges | 65 | €3,303 | €4,986 | +€1,683 | +51.0% |
| Profit (loss) for the period before taxes | 9903 | €10,089 | €25,556 | +€15,467 | +153% |
| Income taxes | 67/77 | €2,497 | €6,519 | +€4,022 | +161% |
| Profit (loss) for the period | 9904 | €7,592 | €19,037 | +€11,445 | +151% |
| Profit (loss) for the period to be appropriated | 9905 | €7,592 | €19,037 | +€11,445 | +151% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.