Serendip: 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.
Serendip
Largest movements
- Financial fixed assets +€345,203
up €345,203 (+1.7%), from €20.3m to €20.7m
- Cash -€331,420
down €331,420 (-70.4%), from €470,677 to €139,257
mainly Investment in fixed assets (net) (-€345,203) and Net result for the year (-€42,210)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€12,582
no longer reported in 2025 (was €12,582)
- Gross operating margin -€1,901
down €1,901 (-35.6%), from -€5,335 to -€7,237
- Financial charges +€257
up €257 (+95.2%), from €270 to €527
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 | €20,860,776 | €20,819,905 | -€40,871 | -0.2% |
| Fixed assets | 21/28 | €20,334,951 | €20,680,154 | +€345,203 | +1.7% |
| Financial fixed assets | 28 | €20,334,951 | €20,680,154 | +€345,203 | +1.7% |
| Current assets | 29/58 | €525,825 | €139,752 | -€386,073 | -73.4% |
| Amounts receivable within one year | 40/41 | €50,000 | - | -€50,000 | |
| Other amounts receivable | 41 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €470,677 | €139,257 | -€331,420 | -70.4% |
| Deferred charges and accrued income | 490/1 | €5,148 | €494 | -€4,654 | -90.4% |
| Total equity and liabilities | 10/49 | €20,860,776 | €20,819,905 | -€40,871 | -0.2% |
| Equity | 10/15 | €20,859,596 | €20,817,386 | -€42,210 | -0.2% |
| Contributions | 10/11 | €19,226,212 | €19,226,212 | = | 0.0% |
| Capital | 10 | €19,150,073 | €19,150,073 | = | 0.0% |
| Issued capital | 100 | €19,150,073 | €19,150,073 | = | 0.0% |
| Contributions outside capital | 11 | €76,139 | €76,139 | = | 0.0% |
| Share premium | 1100/10 | €76,139 | €76,139 | = | 0.0% |
| Reserves | 13 | €161,300 | €161,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €161,300 | €161,300 | = | 0.0% |
| Legal reserve | 130 | €161,300 | €161,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,472,084 | €1,429,874 | -€42,210 | -2.9% |
| Amounts payable | 17/49 | €1,180 | €2,520 | +€1,340 | +114% |
| Amounts payable within one year | 42/48 | €1,180 | €2,507 | +€1,327 | +112% |
| Trade debts | 44 | €1,180 | €2,507 | +€1,327 | +112% |
| Suppliers | 440/4 | €1,180 | €2,507 | +€1,327 | +112% |
| Accrued charges and deferred income | 492/3 | - | €13 | +€13 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating charges | 66A | - | €33,448 | +€33,448 | |
| Gross operating margin | 9900 | -€5,335 | -€7,237 | -€1,901 | -35.6% |
| Operating profit (loss) | 9901 | -€6,303 | -€41,683 | -€35,380 | -561% |
| Financial income | 75/76B | €12,582 | - | -€12,582 | |
| Recurring financial income | 75 | €12,582 | - | -€12,582 | |
| Financial charges | 65/66B | €270 | €527 | +€257 | +95.2% |
| Recurring financial charges | 65 | €270 | €527 | +€257 | +95.2% |
| Profit (loss) for the period before taxes | 9903 | €6,009 | -€42,210 | -€48,219 | |
| Profit (loss) for the period | 9904 | €6,009 | -€42,210 | -€48,219 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,009 | -€42,210 | -€48,219 |
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.