SEREMIA: 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.
SEREMIA
Largest movements
- Current investments -€333,281
down €333,281 (-97.8%), from €340,768 to €7,486
- Receivables within one year +€109,306
up €109,306 (+122%), from €89,578 to €198,884
of which Trade receivables: +€55,664
- Tangible fixed assets +€89,836
up €89,836 (+223%), from €40,250 to €130,087
of which Furniture and vehicles: +€81,324
- Cash +€70,752
up €70,752 (+446%), from €15,868 to €86,619
mainly Current investments (+€333,281) and Net result for the year (+€246,674)
- Other debts -€199,191
down €199,191 (-44.7%), from €445,759 to €246,569
- Debts after one year +€60,881
new in 2025: €60,881
- Tax, wage and social debts +€54,708
up €54,708 (+598%), from €9,154 to €63,862
- Profit (loss) carried forward +€11,674
new in 2025: €11,674
- Current portion of long-term debt +€11,205
up €11,205 (+67.2%), from €16,667 to €27,872
- Financial income +€60,613
up €60,613 (+95.2%), from €63,687 to €124,300
- Gross operating margin +€38,209
up €38,209 (+16.7%), from €228,374 to €266,583
- Taxes +€24,312
up €24,312 (+33.8%), from €72,027 to €96,339
- Financial charges +€11,279
up €11,279 (+76.2%), from €14,803 to €26,082
of which Financial charges: +€11,570
- Depreciation +€8,706
up €8,706 (+76.1%), from €11,446 to €20,152
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.
Derived cash bridge
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 | €486,507 | €424,775 | -€61,733 | -12.7% |
| Fixed assets | 21/28 | €40,294 | €130,130 | +€89,836 | +223% |
| Tangible fixed assets | 22/27 | €40,250 | €130,087 | +€89,836 | +223% |
| Plant, machinery and equipment | 23 | €18,455 | €26,967 | +€8,512 | +46.1% |
| Furniture and vehicles | 24 | €21,795 | €103,119 | +€81,324 | +373% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €446,214 | €294,645 | -€151,569 | -34.0% |
| Amounts receivable within one year | 40/41 | €89,578 | €198,884 | +€109,306 | +122% |
| Trade receivables | 40 | €85,095 | €140,760 | +€55,664 | +65.4% |
| Other amounts receivable | 41 | €4,483 | €58,125 | +€53,642 | +1,197% |
| Current investments | 50/53 | €340,768 | €7,486 | -€333,281 | -97.8% |
| Cash at bank and in hand | 54/58 | €15,868 | €86,619 | +€70,752 | +446% |
| Deferred charges and accrued income | 490/1 | - | €1,655 | +€1,655 | |
| Total equity and liabilities | 10/49 | €486,507 | €424,775 | -€61,733 | -12.7% |
| Equity | 10/15 | €6,000 | €17,674 | +€11,674 | +195% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €11,674 | +€11,674 | |
| Amounts payable | 17/49 | €480,507 | €407,101 | -€73,407 | -15.3% |
| Amounts payable after more than one year | 17 | - | €60,881 | +€60,881 | |
| Financial debts | 170/4 | - | €60,881 | +€60,881 | |
| Amounts payable within one year | 42/48 | €480,507 | €346,220 | -€134,287 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €27,872 | +€11,205 | +67.2% |
| Trade debts | 44 | €8,927 | €7,917 | -€1,010 | -11.3% |
| Suppliers | 440/4 | €8,927 | €7,917 | -€1,010 | -11.3% |
| Taxes, remuneration and social security | 45 | €9,154 | €63,862 | +€54,708 | +598% |
| Taxes | 450/3 | €9,154 | €63,862 | +€54,708 | +598% |
| Other amounts payable | 47/48 | €445,759 | €246,569 | -€199,191 | -44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,446 | €20,152 | +€8,706 | +76.1% |
| Other operating charges | 640/8 | €3,174 | €1,636 | -€1,537 | -48.4% |
| Gross operating margin | 9900 | €228,374 | €266,583 | +€38,209 | +16.7% |
| Operating profit (loss) | 9901 | €213,755 | €244,795 | +€31,040 | +14.5% |
| Financial income | 75/76B | €63,687 | €124,300 | +€60,613 | +95.2% |
| Recurring financial income | 75 | €63,687 | €124,300 | +€60,613 | +95.2% |
| Financial charges | 65/66B | €14,803 | €26,082 | +€11,279 | +76.2% |
| Recurring financial charges | 65 | €14,513 | €26,082 | +€11,570 | +79.7% |
| Non-recurring financial charges | 66B | €291 | - | -€291 | |
| Profit (loss) for the period before taxes | 9903 | €262,638 | €343,013 | +€80,374 | +30.6% |
| Income taxes | 67/77 | €72,027 | €96,339 | +€24,312 | +33.8% |
| Profit (loss) for the period | 9904 | €190,611 | €246,674 | +€56,063 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €190,611 | €246,674 | +€56,063 | +29.4% |
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 17 October 2026 via checked.be.