SERCO: 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.
SERCO
Largest movements
- Receivables within one year +€14,680
up €14,680 (+179.6%), from €8,174 to €22,854
of which Trade receivables: +€14,260
- Cash -€1,178
down €1,178 (-27.9%), from €4,229 to €3,051
mainly Receivables within one year (-€14,680)
- Profit (loss) carried forward +€8,913
up €8,913, from -€70 to €8,843
- Trade debts +€4,197
up €4,197, from €0 to €4,197
- Gross operating margin +€5,541
up €5,541 (+66.6%), from €8,326 to €13,868
- Other operating charges -€3,877
down €3,877 (-46.1%), from €8,412 to €4,535
- Depreciation +€380
up €380 (+3284.5%), from €12 to €392
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 | €47,278 | €60,389 | +€13,111 | +27.7% |
| Fixed assets | 21/28 | €23,253 | €22,861 | -€392 | -1.7% |
| Tangible fixed assets | 22/27 | €23,253 | €22,861 | -€392 | -1.7% |
| Land and buildings | 22 | €21,986 | €21,986 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,267 | €876 | -€392 | -30.9% |
| Current assets | 29/58 | €24,025 | €37,527 | +€13,502 | +56.2% |
| Amounts receivable within one year | 40/41 | €8,174 | €22,854 | +€14,680 | +179.6% |
| Trade receivables | 40 | €8,130 | €22,390 | +€14,260 | +175.4% |
| Other amounts receivable | 41 | €44 | €464 | +€420 | +956.1% |
| Current investments | 50/53 | €11,623 | €11,623 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,229 | €3,051 | -€1,178 | -27.9% |
| Total equity and liabilities | 10/49 | €47,278 | €60,389 | +€13,111 | +27.7% |
| Equity | 10/15 | €47,189 | €56,102 | +€8,913 | +18.9% |
| Contributions | 10/11 | €31,941 | €31,941 | = | 0.0% |
| Reserves | 13 | €15,318 | €15,318 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,623 | €11,623 | = | 0.0% |
| Own shares acquired | 1312 | €11,623 | €11,623 | = | 0.0% |
| Distributable reserves | 133 | €3,695 | €3,695 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70 | €8,843 | +€8,913 | |
| Amounts payable | 17/49 | €89 | €4,287 | +€4,197 | +4708.3% |
| Amounts payable within one year | 42/48 | €34 | €4,232 | +€4,197 | +12291.3% |
| Trade debts | 44 | €0 | €4,197 | +€4,197 | |
| Suppliers | 440/4 | €0 | €4,197 | +€4,197 | |
| Taxes, remuneration and social security | 45 | €34 | €34 | = | 0.0% |
| Taxes | 450/3 | €34 | €34 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €55 | €55 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12 | €392 | +€380 | +3284.5% |
| Other operating charges | 640/8 | €8,412 | €4,535 | -€3,877 | -46.1% |
| Gross operating margin | 9900 | €8,326 | €13,868 | +€5,541 | +66.6% |
| Operating profit (loss) | 9901 | -€97 | €8,941 | +€9,039 | |
| Financial income | 75/76B | €93 | €40 | -€54 | -57.4% |
| Recurring financial income | 75 | €93 | €40 | -€54 | -57.4% |
| Financial charges | 65/66B | €66 | €68 | +€2 | +2.3% |
| Recurring financial charges | 65 | €66 | €68 | +€2 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | -€70 | €8,913 | +€8,984 | |
| Profit (loss) for the period | 9904 | -€70 | €8,913 | +€8,984 | |
| Profit (loss) for the period to be appropriated | 9905 | -€70 | €8,913 | +€8,984 |
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 10 October 2026 via checked.be.