SERCODIS: 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.
SERCODIS
Largest movements
- Receivables within one year -€18,091
down €18,091 (-42.1%), from €42,975 to €24,883
of which Trade receivables: -€17,281
- Cash -€3,604
no longer reported in 2025 (was €3,604)
mainly Trade debts (-€15,104) and Net result for the year (-€11,691)
- Tangible fixed assets -€1,268
down €1,268 (-29.7%), from €4,266 to €2,998
- Deferred charges and accrued income -€801
down €801 (-26.9%), from €2,981 to €2,180
- Trade debts -€15,104
down €15,104 (-63.2%), from €23,886 to €8,782
- Profit (loss) carried forward -€11,691
down €11,691 (-71.2%), from -€16,424 to -€28,115
- Short-term financial debts +€4,450
new in 2025: €4,450
- Tax, wage and social debts -€2,324
down €2,324 (-92.4%), from €2,514 to €191
- Advances received +€905
new in 2025: €905
- Gross operating margin +€5,419
up €5,419 (+36.7%), from -€14,752 to -€9,333
- Financial income -€403
down €403 (-23.7%), from €1,705 to €1,302
- Depreciation +€167
up €167 (+15.2%), from €1,101 to €1,268
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 | €53,875 | €30,112 | -€23,763 | -44.1% |
| Fixed assets | 21/28 | €4,316 | €3,048 | -€1,268 | -29.4% |
| Tangible fixed assets | 22/27 | €4,266 | €2,998 | -€1,268 | -29.7% |
| Land and buildings | 22 | €614 | €461 | -€154 | -25.0% |
| Plant, machinery and equipment | 23 | €2,539 | €1,923 | -€615 | -24.2% |
| Furniture and vehicles | 24 | €1,113 | €614 | -€499 | -44.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €49,559 | €27,063 | -€22,495 | -45.4% |
| Amounts receivable within one year | 40/41 | €42,975 | €24,883 | -€18,091 | -42.1% |
| Trade receivables | 40 | €17,987 | €706 | -€17,281 | -96.1% |
| Other amounts receivable | 41 | €24,987 | €24,177 | -€810 | -3.2% |
| Cash at bank and in hand | 54/58 | €3,604 | - | -€3,604 | |
| Deferred charges and accrued income | 490/1 | €2,981 | €2,180 | -€801 | -26.9% |
| Total equity and liabilities | 10/49 | €53,875 | €30,112 | -€23,763 | -44.1% |
| Equity | 10/15 | €27,475 | €15,784 | -€11,691 | -42.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €25,307 | €25,307 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €23,448 | €23,448 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,424 | -€28,115 | -€11,691 | -71.2% |
| Amounts payable | 17/49 | €26,400 | €14,328 | -€12,073 | -45.7% |
| Amounts payable within one year | 42/48 | €26,400 | €14,328 | -€12,073 | -45.7% |
| Financial debts | 43 | - | €4,450 | +€4,450 | |
| Other loans | 439 | - | €4,450 | +€4,450 | |
| Trade debts | 44 | €23,886 | €8,782 | -€15,104 | -63.2% |
| Suppliers | 440/4 | €23,886 | €8,782 | -€15,104 | -63.2% |
| Advances received on contracts in progress | 46 | - | €905 | +€905 | |
| Taxes, remuneration and social security | 45 | €2,514 | €191 | -€2,324 | -92.4% |
| Taxes | 450/3 | €2,514 | €191 | -€2,324 | -92.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,101 | €1,268 | +€167 | +15.2% |
| Other operating charges | 640/8 | €1,579 | €1,549 | -€29 | -1.9% |
| Gross operating margin | 9900 | -€14,752 | -€9,333 | +€5,419 | +36.7% |
| Operating profit (loss) | 9901 | -€17,431 | -€12,150 | +€5,282 | +30.3% |
| Financial income | 75/76B | €1,705 | €1,302 | -€403 | -23.7% |
| Recurring financial income | 75 | €1,705 | €1,302 | -€403 | -23.7% |
| Financial charges | 65/66B | €698 | €843 | +€145 | +20.8% |
| Recurring financial charges | 65 | €698 | €843 | +€145 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,424 | -€11,691 | +€4,733 | +28.8% |
| Profit (loss) for the period | 9904 | -€16,424 | -€11,691 | +€4,733 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,424 | -€11,691 | +€4,733 | +28.8% |
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 10 October 2026 via checked.be.