SERDACO: what changed
Two fiscal 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.
SERDACO
Largest movements
- Cash +€43,822
up €43,822 (+43.0%), from €101,931 to €145,753
mainly Net result for the year (+€118,042) and Depreciation (+€6,366)
- Current investments +€14,244
up €14,244 (+4.3%), from €330,000 to €344,244
- Receivables within one year +€11,283
up €11,283 (+573.0%), from €1,969 to €13,252
of which Trade receivables: +€8,731
- Tangible fixed assets -€6,366
down €6,366 (-43.4%), from €14,680 to €8,314
- Reserves +€63,000
up €63,000 (+19.3%), from €327,120 to €390,120
of which Distributable reserves: +€63,000
- Gross operating margin +€67,025
up €67,025 (+73.0%), from €91,835 to €158,861
- Taxes +€24,497
up €24,497 (+101.1%), from €24,235 to €48,732
- Financial income +€15,718
up €15,718 (+3608.7%), from €436 to €16,154
- Depreciation +€2,034
up €2,034 (+46.9%), from €4,333 to €6,366
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €451,019 | €512,088 | +€61,068 | +13.5% |
| Fixed assets | 21/28 | €14,680 | €8,314 | -€6,366 | -43.4% |
| Tangible fixed assets | 22/27 | €14,680 | €8,314 | -€6,366 | -43.4% |
| Furniture and vehicles | 24 | €14,680 | €8,314 | -€6,366 | -43.4% |
| Current assets | 29/58 | €436,339 | €503,774 | +€67,435 | +15.5% |
| Amounts receivable within one year | 40/41 | €1,969 | €13,252 | +€11,283 | +573.0% |
| Trade receivables | 40 | €0 | €8,731 | +€8,731 | |
| Other amounts receivable | 41 | €1,969 | €4,521 | +€2,552 | +129.6% |
| Current investments | 50/53 | €330,000 | €344,244 | +€14,244 | +4.3% |
| Cash at bank and in hand | 54/58 | €101,931 | €145,753 | +€43,822 | +43.0% |
| Deferred charges and accrued income | 490/1 | €2,439 | €524 | -€1,915 | -78.5% |
| Total equity and liabilities | 10/49 | €451,019 | €512,088 | +€61,068 | +13.5% |
| Equity | 10/15 | €347,891 | €410,932 | +€63,042 | +18.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €327,120 | €390,120 | +€63,000 | +19.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €9,520 | €9,520 | = | 0.0% |
| Distributable reserves | 133 | €317,600 | €380,600 | +€63,000 | +19.8% |
| Profit (loss) carried forward | 14 | €771 | €813 | +€42 | +5.4% |
| Amounts payable | 17/49 | €103,128 | €101,155 | -€1,973 | -1.9% |
| Amounts payable within one year | 42/48 | €100,788 | €101,155 | +€367 | +0.4% |
| Trade debts | 44 | €0 | €4,280 | +€4,280 | |
| Suppliers | 440/4 | €0 | €4,280 | +€4,280 | |
| Taxes, remuneration and social security | 45 | €24,459 | €23,227 | -€1,231 | -5.0% |
| Taxes | 450/3 | €24,459 | €23,227 | -€1,231 | -5.0% |
| Other amounts payable | 47/48 | €76,330 | €73,648 | -€2,681 | -3.5% |
| Accrued charges and deferred income | 492/3 | €2,340 | €0 | -€2,340 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,333 | €6,366 | +€2,034 | +46.9% |
| Other operating charges | 640/8 | €1,801 | €1,142 | -€659 | -36.6% |
| Gross operating margin | 9900 | €91,835 | €158,861 | +€67,025 | +73.0% |
| Operating profit (loss) | 9901 | €85,702 | €151,353 | +€65,651 | +76.6% |
| Financial income | 75/76B | €436 | €16,154 | +€15,718 | +3608.7% |
| Recurring financial income | 75 | €436 | €16,154 | +€15,718 | +3608.7% |
| Financial charges | 65/66B | €165 | €733 | +€568 | +343.5% |
| Recurring financial charges | 65 | €165 | €733 | +€568 | +343.5% |
| Profit (loss) for the period before taxes | 9903 | €85,972 | €166,774 | +€80,801 | +94.0% |
| Income taxes | 67/77 | €24,235 | €48,732 | +€24,497 | +101.1% |
| Profit (loss) for the period | 9904 | €61,738 | €118,042 | +€56,304 | +91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,738 | €118,042 | +€56,304 | +91.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.