SERENDIPITY: what changed
SERENDIPITY
Largest movements
- Receivables within one year +€132,063
up €132,063 (+24.3%), from €542,651 to €674,714
of which Trade receivables: +€109,627
- Intangible fixed assets +€93,282
up €93,282 (+18.4%), from €507,142 to €600,424
- Cash -€32,371
down €32,371 (-78.8%), from €41,082 to €8,712
mainly Investment in fixed assets (net) (-€305,764) and Receivables within one year (-€132,063)
- Investment grants +€170,797
up €170,797 (+39.9%), from €428,232 to €599,029
- Short-term financial debts -€50,000
down €50,000 (-66.7%), from €75,000 to €25,000
- Other debts +€46,136
up €46,136 (+298%), from €15,464 to €61,600
- Trade debts +€42,892
up €42,892 (+7.1%), from €605,260 to €648,152
- Profit (loss) carried forward -€33,100
down €33,100 (-53.5%), from -€61,907 to -€95,007
- Depreciation -€84,172
down €84,172 (-28.4%), from €296,654 to €212,482
- Financial income -€81,680
down €81,680 (-28.0%), from €291,942 to €210,263
of which Financial income: -€81,445
- Gross operating margin +€33,668
up €33,668, from -€10,762 to €22,907
- Staff costs +€12,889
up €12,889 (+67.0%), from €19,241 to €32,130
- Financial charges +€1,679
up €1,679 (+64.3%), from €2,609 to €4,288
of which Financial charges: +€3,071
Change in the result, 2022 to 2023
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2022 and 2023 balance sheets and the 2023 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,102,994 | €1,287,135 | +€184,141 | +16.7% |
| Fixed assets | 21/28 | €509,134 | €602,416 | +€93,282 | +18.3% |
| Intangible fixed assets | 21 | €507,142 | €600,424 | +€93,282 | +18.4% |
| Financial fixed assets | 28 | €1,992 | €1,992 | = | 0.0% |
| Current assets | 29/58 | €593,860 | €684,719 | +€90,859 | +15.3% |
| Amounts receivable within one year | 40/41 | €542,651 | €674,714 | +€132,063 | +24.3% |
| Trade receivables | 40 | €513,877 | €623,504 | +€109,627 | +21.3% |
| Other amounts receivable | 41 | €28,773 | €51,209 | +€22,436 | +78.0% |
| Cash at bank and in hand | 54/58 | €41,082 | €8,712 | -€32,371 | -78.8% |
| Deferred charges and accrued income | 490/1 | €10,127 | €1,293 | -€8,834 | -87.2% |
| Total equity and liabilities | 10/49 | €1,102,994 | €1,287,135 | +€184,141 | +16.7% |
| Equity | 10/15 | €403,003 | €540,700 | +€137,697 | +34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,079 | €18,079 | = | 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% |
| Tax-exempt reserves | 132 | €6,800 | €6,800 | = | 0.0% |
| Distributable reserves | 133 | €9,419 | €9,419 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,907 | -€95,007 | -€33,100 | -53.5% |
| Investment grants | 15 | €428,232 | €599,029 | +€170,797 | +39.9% |
| Amounts payable | 17/49 | €699,991 | €746,435 | +€46,444 | +6.6% |
| Amounts payable within one year | 42/48 | €699,991 | €745,567 | +€45,576 | +6.5% |
| Financial debts | 43 | €75,000 | €25,000 | -€50,000 | -66.7% |
| Credit institutions | 430/8 | €75,000 | €25,000 | -€50,000 | -66.7% |
| Trade debts | 44 | €605,260 | €648,152 | +€42,892 | +7.1% |
| Suppliers | 440/4 | €605,260 | €648,152 | +€42,892 | +7.1% |
| Taxes, remuneration and social security | 45 | €4,267 | €10,815 | +€6,549 | +153% |
| Taxes | 450/3 | €1,301 | €518 | -€782 | -60.2% |
| Remuneration and social security | 454/9 | €2,966 | €10,297 | +€7,331 | +247% |
| Other amounts payable | 47/48 | €15,464 | €61,600 | +€46,136 | +298% |
| Accrued charges and deferred income | 492/3 | - | €868 | +€868 | |
| Remuneration, social security and pensions | 62 | €19,241 | €32,130 | +€12,889 | +67.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €296,654 | €212,482 | -€84,172 | -28.4% |
| Other operating charges | 640/8 | €1,325 | €1,472 | +€147 | +11.1% |
| Non-recurring operating charges | 66A | - | €15,897 | +€15,897 | |
| Gross operating margin | 9900 | -€10,762 | €22,907 | +€33,668 | |
| Operating profit (loss) | 9901 | -€327,982 | -€239,075 | +€88,908 | +27.1% |
| Financial income | 75/76B | €291,942 | €210,263 | -€81,680 | -28.0% |
| Recurring financial income | 75 | €291,708 | €210,263 | -€81,445 | -27.9% |
| Non-recurring financial income | 76B | €234 | - | -€234 | |
| Financial charges | 65/66B | €2,609 | €4,288 | +€1,679 | +64.3% |
| Recurring financial charges | 65 | €1,218 | €4,288 | +€3,071 | +252% |
| Non-recurring financial charges | 66B | €1,392 | - | -€1,392 | |
| Profit (loss) for the period before taxes | 9903 | -€38,649 | -€33,100 | +€5,549 | +14.4% |
| Profit (loss) for the period | 9904 | -€38,649 | -€33,100 | +€5,549 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,649 | -€33,100 | +€5,549 | +14.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.