SERENDIPITE: 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.
SERENDIPITE
Largest movements
- Tangible fixed assets +€83,693
up €83,693 (+13.8%), from €608,313 to €692,006
of which Plant, machinery and equipment: +€160,607
- Cash -€32,006
down €32,006 (-97.0%), from €32,987 to €981
mainly Other debts (-€683,192) and Investment in fixed assets (net) (-€126,107)
- Receivables within one year +€20,477
up €20,477 (+585%), from €3,503 to €23,979
of which Trade receivables: +€13,221
- Debts after one year +€729,960
new in 2025: €729,960
- Other debts -€683,192
down €683,192 (-100%), from €683,192 to €0
- Profit (loss) carried forward +€20,277
up €20,277 (+25.9%), from €78,244 to €98,521
- Tax, wage and social debts +€8,821
up €8,821 (+107%), from €8,271 to €17,092
of which Taxes: +€4,846
- Gross operating margin +€74,253
up €74,253 (+215%), from €34,581 to €108,834
- Staff costs +€29,560
new in 2025: €29,560
- Depreciation +€28,396
up €28,396 (+207%), from €13,734 to €42,130
- Other operating charges +€9,998
up €9,998 (+656%), from €1,525 to €11,523
- Taxes +€3,693
up €3,693 (+100%), from €3,686 to €7,379
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 | €794,617 | €873,472 | +€78,855 | +9.9% |
| Fixed assets | 21/28 | €608,313 | €692,289 | +€83,976 | +13.8% |
| Tangible fixed assets | 22/27 | €608,313 | €692,006 | +€83,693 | +13.8% |
| Land and buildings | 22 | €530,643 | €468,841 | -€61,802 | -11.6% |
| Plant, machinery and equipment | 23 | - | €160,607 | +€160,607 | |
| Furniture and vehicles | 24 | €77,670 | €62,558 | -€15,112 | -19.5% |
| Financial fixed assets | 28 | - | €284 | +€284 | |
| Current assets | 29/58 | €186,305 | €181,183 | -€5,121 | -2.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €3,503 | €23,979 | +€20,477 | +585% |
| Trade receivables | 40 | €3,503 | €16,724 | +€13,221 | +377% |
| Other amounts receivable | 41 | €0 | €7,255 | +€7,255 | |
| Current investments | 50/53 | €146,264 | €147,587 | +€1,324 | +0.9% |
| Cash at bank and in hand | 54/58 | €32,987 | €981 | -€32,006 | -97.0% |
| Deferred charges and accrued income | 490/1 | €3,551 | €8,636 | +€5,084 | +143% |
| Total equity and liabilities | 10/49 | €794,617 | €873,472 | +€78,855 | +9.9% |
| Equity | 10/15 | €98,704 | €118,981 | +€20,277 | +20.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,244 | €98,521 | +€20,277 | +25.9% |
| Amounts payable | 17/49 | €695,913 | €754,491 | +€58,578 | +8.4% |
| Amounts payable after more than one year | 17 | - | €729,960 | +€729,960 | |
| Other amounts payable | 178/9 | - | €729,960 | +€729,960 | |
| Amounts payable within one year | 42/48 | €694,990 | €21,171 | -€673,819 | -97.0% |
| Trade debts | 44 | €3,527 | €4,079 | +€552 | +15.6% |
| Suppliers | 440/4 | €3,527 | €4,079 | +€552 | +15.6% |
| Taxes, remuneration and social security | 45 | €8,271 | €17,092 | +€8,821 | +107% |
| Taxes | 450/3 | €8,271 | €13,118 | +€4,846 | +58.6% |
| Remuneration and social security | 454/9 | - | €3,974 | +€3,974 | |
| Other amounts payable | 47/48 | €683,192 | €0 | -€683,192 | -100% |
| Accrued charges and deferred income | 492/3 | €923 | €3,361 | +€2,437 | +264% |
| Remuneration, social security and pensions | 62 | - | €29,560 | +€29,560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,734 | €42,130 | +€28,396 | +207% |
| Other operating charges | 640/8 | €1,525 | €11,523 | +€9,998 | +656% |
| Gross operating margin | 9900 | €34,581 | €108,834 | +€74,253 | +215% |
| Operating profit (loss) | 9901 | €19,322 | €25,621 | +€6,299 | +32.6% |
| Financial income | 75/76B | €1,434 | €2,114 | +€680 | +47.5% |
| Recurring financial income | 75 | €1,434 | €2,114 | +€680 | +47.5% |
| Financial charges | 65/66B | €90 | €80 | -€11 | -11.9% |
| Recurring financial charges | 65 | €90 | €80 | -€11 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €20,666 | €27,656 | +€6,990 | +33.8% |
| Income taxes | 67/77 | €3,686 | €7,379 | +€3,693 | +100% |
| Profit (loss) for the period | 9904 | €16,980 | €20,277 | +€3,297 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,980 | €20,277 | +€3,297 | +19.4% |
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 14 October 2026 via checked.be.