SERENDIPITY: 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.
SERENDIPITY
Largest movements
- Intangible fixed assets -€71,974
no longer reported in 2025 (was €71,974)
- Tangible fixed assets -€23,865
down €23,865 (-35.5%), from €67,180 to €43,315
of which Other tangible fixed assets: -€12,161
- Cash +€16,726
up €16,726 (+56.6%), from €29,540 to €46,266
mainly Net result for the year (+€111,164) and Investment in fixed assets (net) (+€79,329)
- Receivables within one year +€2,213
up €2,213 (+6.7%), from €32,834 to €35,047
of which Trade receivables: +€1,323
- Debts after one year -€71,718
down €71,718 (-91.8%), from €78,160 to €6,442
- Other debts +€35,000
up €35,000 (+233.3%), from €15,000 to €50,000
- Short-term financial debts -€19,000
no longer reported in 2025 (was €19,000)
- Current portion of long-term debt -€16,821
down €16,821 (-89.3%), from €18,840 to €2,019
- Tax, wage and social debts -€5,794
down €5,794 (-17.2%), from €33,679 to €27,885
- Gross operating margin +€45,209
up €45,209 (+37.2%), from €121,507 to €166,716
- Depreciation -€14,433
down €14,433 (-46.6%), from €30,943 to €16,510
- Taxes +€13,134
up €13,134 (+63.9%), from €20,558 to €33,692
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 | €204,357 | €127,313 | -€77,044 | -37.7% |
| Fixed assets | 21/28 | €139,284 | €43,445 | -€95,839 | -68.8% |
| Intangible fixed assets | 21 | €71,974 | - | -€71,974 | |
| Tangible fixed assets | 22/27 | €67,180 | €43,315 | -€23,865 | -35.5% |
| Land and buildings | 22 | €10,615 | €8,474 | -€2,141 | -20.2% |
| Plant, machinery and equipment | 23 | €1,014 | €375 | -€639 | -63.0% |
| Furniture and vehicles | 24 | €39,752 | €30,828 | -€8,924 | -22.4% |
| Other tangible fixed assets | 26 | €15,799 | €3,638 | -€12,161 | -77.0% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €65,073 | €83,868 | +€18,795 | +28.9% |
| Amounts receivable within one year | 40/41 | €32,834 | €35,047 | +€2,213 | +6.7% |
| Trade receivables | 40 | €13,363 | €14,686 | +€1,323 | +9.9% |
| Other amounts receivable | 41 | €19,471 | €20,361 | +€890 | +4.6% |
| Cash at bank and in hand | 54/58 | €29,540 | €46,266 | +€16,726 | +56.6% |
| Deferred charges and accrued income | 490/1 | €2,699 | €2,555 | -€144 | -5.3% |
| Total equity and liabilities | 10/49 | €204,357 | €127,313 | -€77,044 | -37.7% |
| Equity | 10/15 | €36,009 | €38,273 | +€2,264 | +6.3% |
| Contributions | 10/11 | €14,600 | €14,600 | = | 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 | €19,549 | €21,813 | +€2,264 | +11.6% |
| Amounts payable | 17/49 | €168,348 | €89,040 | -€79,308 | -47.1% |
| Amounts payable after more than one year | 17 | €78,160 | €6,442 | -€71,718 | -91.8% |
| Financial debts | 170/4 | €78,160 | €6,442 | -€71,718 | -91.8% |
| Amounts payable within one year | 42/48 | €90,188 | €82,598 | -€7,590 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €18,840 | €2,019 | -€16,821 | -89.3% |
| Financial debts | 43 | €19,000 | - | -€19,000 | |
| Credit institutions | 430/8 | €19,000 | - | -€19,000 | |
| Trade debts | 44 | €3,669 | €2,694 | -€975 | -26.6% |
| Suppliers | 440/4 | €3,669 | €2,694 | -€975 | -26.6% |
| Taxes, remuneration and social security | 45 | €33,679 | €27,885 | -€5,794 | -17.2% |
| Taxes | 450/3 | €33,679 | €27,885 | -€5,794 | -17.2% |
| Other amounts payable | 47/48 | €15,000 | €50,000 | +€35,000 | +233.3% |
| Non-recurring operating income | 76A | - | €98,540 | +€98,540 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,943 | €16,510 | -€14,433 | -46.6% |
| Other operating charges | 640/8 | €467 | €211 | -€256 | -54.8% |
| Gross operating margin | 9900 | €121,507 | €166,716 | +€45,209 | +37.2% |
| Operating profit (loss) | 9901 | €90,097 | €149,995 | +€59,898 | +66.5% |
| Financial income | 75/76B | €75 | - | -€75 | |
| Recurring financial income | 75 | €75 | - | -€75 | |
| Financial charges | 65/66B | €4,646 | €5,139 | +€493 | +10.6% |
| Recurring financial charges | 65 | €4,646 | €5,139 | +€493 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | €85,526 | €144,856 | +€59,330 | +69.4% |
| Income taxes | 67/77 | €20,558 | €33,692 | +€13,134 | +63.9% |
| Profit (loss) for the period | 9904 | €64,968 | €111,164 | +€46,196 | +71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,968 | €111,164 | +€46,196 | +71.1% |
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 10 October 2026 via checked.be.