SERCHOK LHASA: 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.
SERCHOK LHASA
Largest movements
- Tangible fixed assets -€11,605
down €11,605 (-26.4%), from €44,036 to €32,432
of which Furniture and vehicles: -€8,182
- Cash -€8,855
down €8,855 (-11.0%), from €80,742 to €71,887
mainly Contributions, distributions and other (-€24,286) and Debts after one year (-€5,996)
- Profit (loss) carried forward -€19,317
down €19,317 (-39.4%), from €49,009 to €29,691
- Debts after one year -€5,996
down €5,996 (-30.5%), from €19,645 to €13,650
- Other debts +€4,222
up €4,222 (+5,037%), from €84 to €4,305
- Trade debts -€1,714
down €1,714 (-18.0%), from €9,539 to €7,824
- Tax, wage and social debts +€1,632
up €1,632 (+38.7%), from €4,221 to €5,853
of which Remuneration and social security: +€1,698
- Staff costs +€14,600
up €14,600 (+215%), from €6,788 to €21,388
- Other operating charges -€3,121
down €3,121 (-93.7%), from €3,331 to €210
- Gross operating margin +€2,854
up €2,854 (+6.4%), from €44,601 to €47,455
- Taxes -€1,668
down €1,668 (-40.9%), from €4,079 to €2,412
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 | €126,501 | €105,819 | -€20,681 | -16.3% |
| Fixed assets | 21/28 | €44,036 | €32,432 | -€11,605 | -26.4% |
| Tangible fixed assets | 22/27 | €44,036 | €32,432 | -€11,605 | -26.4% |
| Plant, machinery and equipment | 23 | €11,161 | €7,738 | -€3,423 | -30.7% |
| Furniture and vehicles | 24 | €32,876 | €24,694 | -€8,182 | -24.9% |
| Current assets | 29/58 | €82,464 | €73,387 | -€9,077 | -11.0% |
| Stocks and contracts in progress | 3 | €1,037 | €1,500 | +€463 | +44.7% |
| Stocks | 30/36 | €1,037 | €1,500 | +€463 | +44.7% |
| Amounts receivable within one year | 40/41 | €685 | - | -€685 | |
| Other amounts receivable | 41 | €685 | - | -€685 | |
| Cash at bank and in hand | 54/58 | €80,742 | €71,887 | -€8,855 | -11.0% |
| Total equity and liabilities | 10/49 | €126,501 | €105,819 | -€20,681 | -16.3% |
| Equity | 10/15 | €87,509 | €68,191 | -€19,317 | -22.1% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,009 | €29,691 | -€19,317 | -39.4% |
| Amounts payable | 17/49 | €38,992 | €37,628 | -€1,364 | -3.5% |
| Amounts payable after more than one year | 17 | €19,645 | €13,650 | -€5,996 | -30.5% |
| Financial debts | 170/4 | €19,645 | €13,650 | -€5,996 | -30.5% |
| Amounts payable within one year | 42/48 | €19,347 | €23,978 | +€4,632 | +23.9% |
| Financial debts | 43 | €5,503 | €5,996 | +€493 | +8.9% |
| Credit institutions | 430/8 | €5,503 | €5,996 | +€493 | +8.9% |
| Trade debts | 44 | €9,539 | €7,824 | -€1,714 | -18.0% |
| Suppliers | 440/4 | €9,539 | €7,824 | -€1,714 | -18.0% |
| Taxes, remuneration and social security | 45 | €4,221 | €5,853 | +€1,632 | +38.7% |
| Taxes | 450/3 | €4,079 | €4,013 | -€67 | -1.6% |
| Remuneration and social security | 454/9 | €142 | €1,840 | +€1,698 | +1,199% |
| Other amounts payable | 47/48 | €84 | €4,305 | +€4,222 | +5,037% |
| Remuneration, social security and pensions | 62 | €6,788 | €21,388 | +€14,600 | +215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,629 | €12,657 | +€28 | +0.2% |
| Other operating charges | 640/8 | €3,331 | €210 | -€3,121 | -93.7% |
| Non-recurring operating charges | 66A | €116 | €1,110 | +€994 | +857% |
| Gross operating margin | 9900 | €44,601 | €47,455 | +€2,854 | +6.4% |
| Operating profit (loss) | 9901 | €21,737 | €12,090 | -€9,647 | -44.4% |
| Financial charges | 65/66B | €4,317 | €4,710 | +€392 | +9.1% |
| Recurring financial charges | 65 | €4,317 | €4,710 | +€392 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €17,420 | €7,380 | -€10,039 | -57.6% |
| Income taxes | 67/77 | €4,079 | €2,412 | -€1,668 | -40.9% |
| Profit (loss) for the period | 9904 | €13,340 | €4,969 | -€8,372 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,340 | €4,969 | -€8,372 | -62.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.