SERCOLAB: 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.
SERCOLAB
Largest movements
- Receivables within one year -€104,569
down €104,569 (-33.7%), from €310,131 to €205,562
of which Trade receivables: -€104,686
- Cash +€40,364
up €40,364 (+941.8%), from €4,286 to €44,650
mainly Receivables within one year (+€104,569) and Stocks and contracts (+€32,223)
- Stocks and contracts -€32,223
down €32,223 (-19.8%), from €162,760 to €130,537
- Trade debts -€44,788
down €44,788 (-22.4%), from €200,251 to €155,463
- Profit (loss) carried forward -€35,177
down €35,177 (-43.0%), from €81,896 to €46,719
- Tax, wage and social debts -€31,010
down €31,010 (-51.1%), from €60,639 to €29,629
of which Taxes: -€31,147
- Other debts +€16,500
up €16,500 (+15.9%), from €103,500 to €120,000
- Gross operating margin -€72,821
down €72,821 (-38.6%), from €188,549 to €115,727
- Financial income -€23,735
down €23,735 (-98.8%), from €24,030 to €294
of which Non-recurring financial income: -€24,010
- Taxes -€11,614
down €11,614 (-98.0%), from €11,854 to €240
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 | €483,986 | €389,069 | -€94,917 | -19.6% |
| Fixed assets | 21/28 | €6,809 | €8,320 | +€1,511 | +22.2% |
| Tangible fixed assets | 22/27 | €2,396 | €3,907 | +€1,511 | +63.1% |
| Plant, machinery and equipment | 23 | €2,396 | €3,907 | +€1,511 | +63.1% |
| Financial fixed assets | 28 | €4,413 | €4,413 | = | 0.0% |
| Current assets | 29/58 | €477,177 | €380,749 | -€96,428 | -20.2% |
| Stocks and contracts in progress | 3 | €162,760 | €130,537 | -€32,223 | -19.8% |
| Stocks | 30/36 | €162,760 | €130,537 | -€32,223 | -19.8% |
| Amounts receivable within one year | 40/41 | €310,131 | €205,562 | -€104,569 | -33.7% |
| Trade receivables | 40 | €309,586 | €204,900 | -€104,686 | -33.8% |
| Other amounts receivable | 41 | €545 | €661 | +€117 | +21.4% |
| Cash at bank and in hand | 54/58 | €4,286 | €44,650 | +€40,364 | +941.8% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €483,986 | €389,069 | -€94,917 | -19.6% |
| Equity | 10/15 | €112,840 | €77,663 | -€35,177 | -31.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €12,395 | €12,395 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €10,540 | €10,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,896 | €46,719 | -€35,177 | -43.0% |
| Amounts payable | 17/49 | €371,145 | €311,405 | -€59,740 | -16.1% |
| Amounts payable within one year | 42/48 | €371,145 | €311,405 | -€59,740 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €6,756 | €6,314 | -€442 | -6.5% |
| Trade debts | 44 | €200,251 | €155,463 | -€44,788 | -22.4% |
| Suppliers | 440/4 | €200,251 | €155,463 | -€44,788 | -22.4% |
| Taxes, remuneration and social security | 45 | €60,639 | €29,629 | -€31,010 | -51.1% |
| Taxes | 450/3 | €45,209 | €14,062 | -€31,147 | -68.9% |
| Remuneration and social security | 454/9 | €15,430 | €15,567 | +€137 | +0.9% |
| Other amounts payable | 47/48 | €103,500 | €120,000 | +€16,500 | +15.9% |
| Remuneration, social security and pensions | 62 | €148,111 | €147,065 | -€1,046 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,106 | €1,482 | +€376 | +34.0% |
| Other operating charges | 640/8 | €505 | €870 | +€365 | +72.2% |
| Gross operating margin | 9900 | €188,549 | €115,727 | -€72,821 | -38.6% |
| Operating profit (loss) | 9901 | €38,827 | -€33,690 | -€72,516 | |
| Financial income | 75/76B | €24,030 | €294 | -€23,735 | -98.8% |
| Recurring financial income | 75 | €20 | €294 | +€274 | +1367.9% |
| Non-recurring financial income | 76B | €24,010 | - | -€24,010 | |
| Financial charges | 65/66B | €1,374 | €1,542 | +€168 | +12.2% |
| Recurring financial charges | 65 | €1,374 | €1,542 | +€168 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €61,482 | -€34,937 | -€96,420 | |
| Income taxes | 67/77 | €11,854 | €240 | -€11,614 | -98.0% |
| Profit (loss) for the period | 9904 | €49,628 | -€35,177 | -€84,805 | |
| Profit (loss) for the period to be appropriated | 9905 | €49,628 | -€35,177 | -€84,805 |
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 12 October 2026 via checked.be.