SEREMI: 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.
SEREMI
Largest movements
- Cash -€19,702
down €19,702 (-24.4%), from €80,800 to €61,098
mainly Receivables within one year (-€14,827) and Net result for the year (-€3,735)
- Receivables within one year +€14,827
up €14,827 (+38.2%), from €38,858 to €53,685
- Profit (loss) carried forward -€3,735
down €3,735 (-18.1%), from -€20,600 to -€24,336
- Gross operating margin +€62,138
up €62,138 (+94.8%), from -€65,565 to -€3,427
- Staff costs -€9,773
no longer reported in 2025 (was €9,773)
- Other operating charges -€1,016
down €1,016 (-98.1%), from €1,036 to €20
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 | €119,657 | €114,783 | -€4,874 | -4.1% |
| Current assets | 29/58 | €119,657 | €114,783 | -€4,874 | -4.1% |
| Amounts receivable within one year | 40/41 | €38,858 | €53,685 | +€14,827 | +38.2% |
| Other amounts receivable | 41 | €38,858 | €53,685 | +€14,827 | +38.2% |
| Cash at bank and in hand | 54/58 | €80,800 | €61,098 | -€19,702 | -24.4% |
| Total equity and liabilities | 10/49 | €119,657 | €114,783 | -€4,874 | -4.1% |
| Equity | 10/15 | €83,054 | €79,319 | -€3,735 | -4.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €63,655 | €63,655 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €59,655 | €59,655 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,600 | -€24,336 | -€3,735 | -18.1% |
| Provisions and deferred taxes | 16 | €19,885 | €19,885 | = | 0.0% |
| Deferred taxes | 168 | €19,885 | €19,885 | = | 0.0% |
| Amounts payable | 17/49 | €16,719 | €15,579 | -€1,139 | -6.8% |
| Amounts payable within one year | 42/48 | €16,719 | €15,579 | -€1,139 | -6.8% |
| Trade debts | 44 | €2,455 | €1,325 | -€1,129 | -46.0% |
| Suppliers | 440/4 | €2,455 | €1,325 | -€1,129 | -46.0% |
| Other amounts payable | 47/48 | €14,264 | €14,254 | -€10 | -0.1% |
| Remuneration, social security and pensions | 62 | €9,773 | - | -€9,773 | |
| Other operating charges | 640/8 | €1,036 | €20 | -€1,016 | -98.1% |
| Non-recurring operating charges | 66A | €2,527 | - | -€2,527 | |
| Gross operating margin | 9900 | -€65,565 | -€3,427 | +€62,138 | +94.8% |
| Operating profit (loss) | 9901 | -€78,901 | -€3,447 | +€75,454 | +95.6% |
| Financial charges | 65/66B | €567 | €288 | -€279 | -49.2% |
| Recurring financial charges | 65 | €567 | €288 | -€279 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | -€79,468 | -€3,735 | +€75,732 | +95.3% |
| Profit (loss) for the period | 9904 | -€79,468 | -€3,735 | +€75,732 | +95.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,468 | -€3,735 | +€75,732 | +95.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.