SERENDIB: 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.
SERENDIB
Largest movements
- Receivables within one year +€15,332
up €15,332 (+2,169%), from €707 to €16,039
- Tangible fixed assets -€15,044
down €15,044 (-27.1%), from €55,507 to €40,463
of which Furniture and vehicles: -€13,243
- Cash -€6,410
down €6,410 (-12.7%), from €50,441 to €44,031
mainly Receivables within one year (-€15,332) and Debts after one year (-€8,142)
- Deferred charges and accrued income -€1,717
no longer reported in 2025 (was €1,717)
- Reserves +€20,637
up €20,637 (+43.1%), from €47,886 to €68,523
- Debts after one year -€8,142
down €8,142 (-61.0%), from €13,349 to €5,206
- Tax, wage and social debts -€7,789
down €7,789 (-35.0%), from €22,244 to €14,455
of which Taxes: -€9,190
- Trade debts -€7,174
down €7,174 (-45.9%), from €15,628 to €8,454
- Other debts -€2,629
no longer reported in 2025 (was €2,629)
- Gross operating margin +€28,751
up €28,751 (+28.1%), from €102,206 to €130,957
- Staff costs +€14,185
up €14,185 (+23.8%), from €59,525 to €73,709
- Depreciation +€13,553
up €13,553 (+182%), from €7,427 to €20,980
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 | €112,344 | €104,781 | -€7,564 | -6.7% |
| Fixed assets | 21/28 | €55,507 | €40,463 | -€15,044 | -27.1% |
| Tangible fixed assets | 22/27 | €55,507 | €40,463 | -€15,044 | -27.1% |
| Plant, machinery and equipment | 23 | €5,263 | €3,833 | -€1,430 | -27.2% |
| Furniture and vehicles | 24 | €48,995 | €35,751 | -€13,243 | -27.0% |
| Other tangible fixed assets | 26 | €1,249 | €879 | -€371 | -29.7% |
| Current assets | 29/58 | €56,837 | €64,318 | +€7,481 | +13.2% |
| Stocks and contracts in progress | 3 | €3,972 | €4,248 | +€276 | +6.9% |
| Stocks | 30/36 | €3,972 | €4,248 | +€276 | +6.9% |
| Amounts receivable within one year | 40/41 | €707 | €16,039 | +€15,332 | +2,169% |
| Other amounts receivable | 41 | €707 | €16,039 | +€15,332 | +2,169% |
| Cash at bank and in hand | 54/58 | €50,441 | €44,031 | -€6,410 | -12.7% |
| Deferred charges and accrued income | 490/1 | €1,717 | - | -€1,717 | |
| Total equity and liabilities | 10/49 | €112,344 | €104,781 | -€7,564 | -6.7% |
| Equity | 10/15 | €47,886 | €68,523 | +€20,637 | +43.1% |
| Reserves | 13 | €47,886 | €68,523 | +€20,637 | +43.1% |
| Distributable reserves | 133 | €47,886 | €68,523 | +€20,637 | +43.1% |
| Amounts payable | 17/49 | €64,458 | €36,257 | -€28,201 | -43.8% |
| Amounts payable after more than one year | 17 | €13,349 | €5,206 | -€8,142 | -61.0% |
| Financial debts | 170/4 | €13,349 | €5,206 | -€8,142 | -61.0% |
| Amounts payable within one year | 42/48 | €51,110 | €31,051 | -€20,059 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €10,608 | €8,142 | -€2,466 | -23.2% |
| Trade debts | 44 | €15,628 | €8,454 | -€7,174 | -45.9% |
| Suppliers | 440/4 | €15,628 | €8,454 | -€7,174 | -45.9% |
| Taxes, remuneration and social security | 45 | €22,244 | €14,455 | -€7,789 | -35.0% |
| Taxes | 450/3 | €15,931 | €6,741 | -€9,190 | -57.7% |
| Remuneration and social security | 454/9 | €6,313 | €7,714 | +€1,401 | +22.2% |
| Other amounts payable | 47/48 | €2,629 | - | -€2,629 | |
| Remuneration, social security and pensions | 62 | €59,525 | €73,709 | +€14,185 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,427 | €20,980 | +€13,553 | +182% |
| Other operating charges | 640/8 | €1,654 | €1,553 | -€101 | -6.1% |
| Gross operating margin | 9900 | €102,206 | €130,957 | +€28,751 | +28.1% |
| Operating profit (loss) | 9901 | €33,599 | €34,714 | +€1,115 | +3.3% |
| Financial income | 75/76B | €162 | €713 | +€551 | +340% |
| Recurring financial income | 75 | €162 | €713 | +€551 | +340% |
| Financial charges | 65/66B | €3,226 | €3,301 | +€75 | +2.3% |
| Recurring financial charges | 65 | €3,226 | €3,301 | +€75 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €30,535 | €32,125 | +€1,590 | +5.2% |
| Income taxes | 67/77 | €10,902 | €11,488 | +€586 | +5.4% |
| Profit (loss) for the period | 9904 | €19,633 | €20,637 | +€1,004 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,633 | €20,637 | +€1,004 | +5.1% |
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 16 October 2026 via checked.be.