SEREL INDUSTRIE: what changed
What changed
SEREL INDUSTRIE
NACE 26.510, Manufacture of computer, electronic and optical products
filed annual accounts (NBB)
Net result for the year
€195,485
2024 · €118,732+€76,753
Equity
€2.7m
2024 · €2.9m-€204,515
Cash
€1.9m
2024 · €1.5m+€405,681
Balance sheet total
€3.8m
2024 · €3.6m+€189,646
Largest movements
Assets
- Cash +€405,681
up €405,681 (+26.6%), from €1.5m to €1.9m
mainly Other debts (+€200,000) and Net result for the year (+€195,485)
- Receivables within one year -€140,051
down €140,051 (-20.6%), from €679,618 to €539,567
of which Other amounts receivable: -€71,812
- Tangible fixed assets -€51,949
down €51,949 (-7.2%), from €726,236 to €674,286
of which Land and buildings: -€40,409
Equity and liabilities
- Profit (loss) carried forward -€204,515
down €204,515 (-36.6%), from €559,464 to €354,949
- Other debts +€200,000
up €200,000 (+100%), from €200,000 to €400,000
- Trade debts +€139,122
up €139,122 (+155%), from €89,834 to €228,956
Income statement
- Staff costs -€96,993
down €96,993 (-11.1%), from €877,375 to €780,382
- Taxes +€96,286
up €96,286 (+840%), from €11,466 to €107,752
- Gross operating margin +€57,107
up €57,107 (+4.9%), from €1.2m to €1.2m
- Write-downs -€14,685
down €14,685 (-80.0%), from €18,347 to €3,662
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€118,732
Gross operating margin
+€57,107
Staff costs
+€96,993
Depreciation
+€1,022
Write-downs
+€14,685
Provisions
+€511
Other operating charges
+€4,469
Financial income
-€2,050
Financial charges
+€302
Taxes
-€96,286
Result 2025
€195,485
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€854,828
Investment
-€60,059
Financing
-€389,088
Cash 2024
€1.5m
From operations (derived)
+€854,828
Net result for the year
+€195,485
Depreciation
+€126,259
Receivables after one year
+€7,000
Stocks and contracts
-€17,312
Receivables within one year
+€140,051
Deferred charges and accrued income
+€20,095
Provisions
-€15,888
Trade debts
+€139,122
Tax, wage and social debts
+€31,464
Advances received
+€28,831
Other debts
+€200,000
Accrued charges and deferred income
-€280
Investment (derived)
-€60,059
Investment in fixed assets (net)
-€60,059
Financing
-€389,088
Debts after one year
+€23,576
Current portion of long-term debt
-€12,664
Contributions, distributions and other
-€400,000
Cash 2025
€1.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,577,510 | €3,767,156 | +€189,646 | +5.3% |
| Fixed assets | 21/28 | €761,299 | €695,099 | -€66,201 | -8.7% |
| Intangible fixed assets | 21 | €34,804 | €20,552 | -€14,251 | -40.9% |
| Tangible fixed assets | 22/27 | €726,236 | €674,286 | -€51,949 | -7.2% |
| Land and buildings | 22 | €689,045 | €648,637 | -€40,409 | -5.9% |
| Furniture and vehicles | 24 | €37,190 | €25,650 | -€11,541 | -31.0% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €2,816,211 | €3,072,057 | +€255,847 | +9.1% |
| Amounts receivable after more than one year | 29 | €7,000 | - | -€7,000 | |
| Other amounts receivable | 291 | €7,000 | - | -€7,000 | |
| Stocks and contracts in progress | 3 | €521,981 | €539,293 | +€17,312 | +3.3% |
| Stocks | 30/36 | €521,981 | €539,293 | +€17,312 | +3.3% |
| Amounts receivable within one year | 40/41 | €679,618 | €539,567 | -€140,051 | -20.6% |
| Trade receivables | 40 | €458,953 | €390,714 | -€68,239 | -14.9% |
| Other amounts receivable | 41 | €220,665 | €148,853 | -€71,812 | -32.5% |
| Cash at bank and in hand | 54/58 | €1,522,793 | €1,928,474 | +€405,681 | +26.6% |
| Deferred charges and accrued income | 490/1 | €84,819 | €64,724 | -€20,095 | -23.7% |
| Total equity and liabilities | 10/49 | €3,577,510 | €3,767,156 | +€189,646 | +5.3% |
| Equity | 10/15 | €2,892,462 | €2,687,947 | -€204,515 | -7.1% |
| Contributions | 10/11 | €914,385 | €914,385 | = | 0.0% |
| Capital | 10 | €914,385 | €914,385 | = | 0.0% |
| Issued capital | 100 | €914,385 | €914,385 | = | 0.0% |
| Reserves | 13 | €1,418,614 | €1,418,614 | = | 0.0% |
| Non-distributable reserves | 130/1 | €91,438 | €91,438 | = | 0.0% |
| Legal reserve | 130 | €91,438 | €91,438 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,095,995 | €843,395 | -€252,600 | -23.0% |
| Distributable reserves | 133 | €231,180 | €483,780 | +€252,600 | +109% |
| Profit (loss) carried forward | 14 | €559,464 | €354,949 | -€204,515 | -36.6% |
| Provisions and deferred taxes | 16 | €18,552 | €2,664 | -€15,888 | -85.6% |
| Provisions for liabilities and charges | 160/5 | €18,552 | €2,664 | -€15,888 | -85.6% |
| Other liabilities and charges | 164/5 | €18,552 | €2,664 | -€15,888 | -85.6% |
| Amounts payable | 17/49 | €666,497 | €1,076,545 | +€410,049 | +61.5% |
| Amounts payable after more than one year | 17 | €189,679 | €213,255 | +€23,576 | +12.4% |
| Other amounts payable | 178/9 | €189,679 | €213,255 | +€23,576 | +12.4% |
| Amounts payable within one year | 42/48 | €429,580 | €816,333 | +€386,753 | +90.0% |
| Current portion of amounts payable after more than one year | 42 | €12,664 | - | -€12,664 | |
| Trade debts | 44 | €89,834 | €228,956 | +€139,122 | +155% |
| Suppliers | 440/4 | €89,834 | €228,956 | +€139,122 | +155% |
| Advances received on contracts in progress | 46 | €23,391 | €52,222 | +€28,831 | +123% |
| Taxes, remuneration and social security | 45 | €103,692 | €135,156 | +€31,464 | +30.3% |
| Taxes | 450/3 | €9,627 | €27,186 | +€17,559 | +182% |
| Remuneration and social security | 454/9 | €94,064 | €107,970 | +€13,906 | +14.8% |
| Other amounts payable | 47/48 | €200,000 | €400,000 | +€200,000 | +100% |
| Accrued charges and deferred income | 492/3 | €47,237 | €46,957 | -€280 | -0.6% |
| Remuneration, social security and pensions | 62 | €877,375 | €780,382 | -€96,993 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,281 | €126,259 | -€1,022 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,347 | €3,662 | -€14,685 | -80.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,376 | -€15,888 | -€511 | -3.3% |
| Other operating charges | 640/8 | €38,533 | €34,064 | -€4,469 | -11.6% |
| Gross operating margin | 9900 | €1,164,347 | €1,221,454 | +€57,107 | +4.9% |
| Operating profit (loss) | 9901 | €118,187 | €292,974 | +€174,787 | +148% |
| Financial income | 75/76B | €16,058 | €14,007 | -€2,050 | -12.8% |
| Recurring financial income | 75 | €16,058 | €14,007 | -€2,050 | -12.8% |
| Financial charges | 65/66B | €4,047 | €3,745 | -€302 | -7.5% |
| Recurring financial charges | 65 | €4,047 | €3,745 | -€302 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €130,198 | €303,237 | +€173,039 | +133% |
| Income taxes | 67/77 | €11,466 | €107,752 | +€96,286 | +840% |
| Profit (loss) for the period | 9904 | €118,732 | €195,485 | +€76,753 | +64.6% |
| Profit (loss) for the period to be appropriated | 9905 | €118,732 | €195,485 | +€76,753 | +64.6% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.