SERBRUYNS STEVEN: 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.
SERBRUYNS STEVEN
Largest movements
- Tangible fixed assets -€42,472
down €42,472 (-19.6%), from €216,671 to €174,200
of which Furniture and vehicles: -€22,356
- Receivables within one year -€12,598
down €12,598 (-25.4%), from €49,559 to €36,961
of which Trade receivables: -€7,547
- Cash +€8,822
up €8,822 (+342%), from €2,580 to €11,401
mainly Depreciation (+€42,472) and Receivables within one year (+€12,598)
- Debts after one year -€23,495
down €23,495 (-20.7%), from €113,284 to €89,789
- Reserves -€12,333
down €12,333 (-22.0%), from €55,947 to €43,613
of which Distributable reserves: -€12,333
- Trade debts -€5,055
down €5,055 (-5.7%), from €88,519 to €83,464
- Staff costs +€6,904
up €6,904 (+12.6%), from €54,984 to €61,888
- Depreciation -€4,867
down €4,867 (-10.3%), from €47,339 to €42,472
- Gross operating margin -€3,437
down €3,437 (-2.8%), from €121,341 to €117,904
- Taxes -€2,310
down €2,310 (-45.5%), from €5,082 to €2,771
- Financial income -€1,770
down €1,770 (-99.0%), from €1,787 to €17
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 | €320,322 | €275,091 | -€45,230 | -14.1% |
| Fixed assets | 21/28 | €216,671 | €174,200 | -€42,472 | -19.6% |
| Tangible fixed assets | 22/27 | €216,671 | €174,200 | -€42,472 | -19.6% |
| Land and buildings | 22 | €125,172 | €115,958 | -€9,214 | -7.4% |
| Plant, machinery and equipment | 23 | €22,634 | €11,732 | -€10,902 | -48.2% |
| Furniture and vehicles | 24 | €68,866 | €46,510 | -€22,356 | -32.5% |
| Current assets | 29/58 | €103,650 | €100,891 | -€2,759 | -2.7% |
| Stocks and contracts in progress | 3 | €48,555 | €47,849 | -€706 | -1.5% |
| Stocks | 30/36 | €20,537 | €15,644 | -€4,892 | -23.8% |
| Contracts in progress | 37 | €28,018 | €32,204 | +€4,186 | +14.9% |
| Amounts receivable within one year | 40/41 | €49,559 | €36,961 | -€12,598 | -25.4% |
| Trade receivables | 40 | €37,947 | €30,400 | -€7,547 | -19.9% |
| Other amounts receivable | 41 | €11,612 | €6,560 | -€5,051 | -43.5% |
| Current investments | 50/53 | €3 | €0 | -€3 | -100% |
| Cash at bank and in hand | 54/58 | €2,580 | €11,401 | +€8,822 | +342% |
| Deferred charges and accrued income | 490/1 | €2,955 | €4,681 | +€1,727 | +58.4% |
| Total equity and liabilities | 10/49 | €320,322 | €275,091 | -€45,230 | -14.1% |
| Equity | 10/15 | €68,098 | €55,764 | -€12,333 | -18.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €55,947 | €43,613 | -€12,333 | -22.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €55,947 | €43,613 | -€12,333 | -22.0% |
| Profit (loss) carried forward | 14 | €5,951 | €5,951 | = | 0.0% |
| Amounts payable | 17/49 | €252,224 | €219,327 | -€32,897 | -13.0% |
| Amounts payable after more than one year | 17 | €113,284 | €89,789 | -€23,495 | -20.7% |
| Financial debts | 170/4 | €113,284 | €89,789 | -€23,495 | -20.7% |
| Amounts payable within one year | 42/48 | €134,746 | €126,609 | -€8,136 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €25,319 | €23,495 | -€1,825 | -7.2% |
| Financial debts | 43 | €35 | €1,555 | +€1,520 | +4,344% |
| Credit institutions | 430/8 | €35 | €1,555 | +€1,520 | +4,344% |
| Trade debts | 44 | €88,519 | €83,464 | -€5,055 | -5.7% |
| Suppliers | 440/4 | €88,519 | €83,464 | -€5,055 | -5.7% |
| Taxes, remuneration and social security | 45 | €6,342 | €4,770 | -€1,572 | -24.8% |
| Taxes | 450/3 | €5,108 | €2,481 | -€2,627 | -51.4% |
| Remuneration and social security | 454/9 | €1,234 | €2,289 | +€1,055 | +85.5% |
| Other amounts payable | 47/48 | €14,530 | €13,325 | -€1,205 | -8.3% |
| Accrued charges and deferred income | 492/3 | €4,195 | €2,929 | -€1,266 | -30.2% |
| Remuneration, social security and pensions | 62 | €54,984 | €61,888 | +€6,904 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,339 | €42,472 | -€4,867 | -10.3% |
| Other operating charges | 640/8 | €3,833 | €2,154 | -€1,679 | -43.8% |
| Non-recurring operating charges | 66A | €85 | €864 | +€779 | +912% |
| Gross operating margin | 9900 | €121,341 | €117,904 | -€3,437 | -2.8% |
| Operating profit (loss) | 9901 | €15,099 | €10,526 | -€4,573 | -30.3% |
| Financial income | 75/76B | €1,787 | €17 | -€1,770 | -99.0% |
| Recurring financial income | 75 | €1,787 | €17 | -€1,770 | -99.0% |
| Financial charges | 65/66B | €5,401 | €5,910 | +€510 | +9.4% |
| Recurring financial charges | 65 | €5,401 | €5,910 | +€510 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €11,485 | €4,633 | -€6,852 | -59.7% |
| Income taxes | 67/77 | €5,082 | €2,771 | -€2,310 | -45.5% |
| Profit (loss) for the period | 9904 | €6,404 | €1,862 | -€4,542 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,404 | €1,862 | -€4,542 | -70.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.