SERENDIPITY: what changed
Two fiscal 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 -€10,000
down €10,000 (-11.0%), from €91,025 to €81,025
- Stocks and contracts -€9,158
down €9,158 (-67.7%), from €13,527 to €4,369
- Cash -€8,273
down €8,273 (-75.0%), from €11,024 to €2,751
mainly Net result for the year (-€67,501) and Trade debts (-€50,607)
- Tangible fixed assets -€6,870
down €6,870 (-8.6%), from €80,099 to €73,229
of which Plant, machinery and equipment: -€3,473
- Debts after one year +€81,793
up €81,793 (+40.0%), from €204,234 to €286,027
- Profit (loss) carried forward -€67,501
down €67,501 (-108.3%), from -€62,339 to -€129,840
- Trade debts -€50,607
down €50,607 (-75.7%), from €66,874 to €16,266
- Tax, wage and social debts +€5,523
up €5,523 (+202.4%), from €2,728 to €8,251
of which Remuneration and social security: +€3,450
- Other debts -€5,455
down €5,455 (-100.0%), from €5,455 to €0
- Gross operating margin +€49,977
up €49,977, from -€37,572 to €12,405
- Staff costs +€42,235
up €42,235 (+320.4%), from €13,182 to €55,416
- Depreciation +€8,494
up €8,494 (+73.7%), from €11,523 to €20,018
- Financial charges +€2,872
up €2,872 (+4630.0%), from €62 to €2,934
- Other operating charges +€1,537
new in 2025: €1,537
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 | €222,318 | €186,070 | -€36,248 | -16.3% |
| Fixed assets | 21/28 | €182,332 | €165,462 | -€16,870 | -9.3% |
| Intangible fixed assets | 21 | €91,025 | €81,025 | -€10,000 | -11.0% |
| Tangible fixed assets | 22/27 | €80,099 | €73,229 | -€6,870 | -8.6% |
| Plant, machinery and equipment | 23 | €45,100 | €41,627 | -€3,473 | -7.7% |
| Furniture and vehicles | 24 | €15,022 | €11,800 | -€3,222 | -21.4% |
| Other tangible fixed assets | 26 | €19,977 | €19,801 | -€175 | -0.9% |
| Financial fixed assets | 28 | €11,208 | €11,208 | = | 0.0% |
| Current assets | 29/58 | €39,986 | €20,608 | -€19,378 | -48.5% |
| Stocks and contracts in progress | 3 | €13,527 | €4,369 | -€9,158 | -67.7% |
| Stocks | 30/36 | €13,527 | €4,369 | -€9,158 | -67.7% |
| Amounts receivable within one year | 40/41 | €13,884 | €12,433 | -€1,451 | -10.4% |
| Trade receivables | 40 | €4,900 | €12,433 | +€7,533 | +153.7% |
| Other amounts receivable | 41 | €8,984 | €0 | -€8,984 | -100.0% |
| Cash at bank and in hand | 54/58 | €11,024 | €2,751 | -€8,273 | -75.0% |
| Deferred charges and accrued income | 490/1 | €1,552 | €1,055 | -€497 | -32.0% |
| Total equity and liabilities | 10/49 | €222,318 | €186,070 | -€36,248 | -16.3% |
| Equity | 10/15 | -€60,839 | -€128,340 | -€67,501 | -110.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,339 | -€129,840 | -€67,501 | -108.3% |
| Amounts payable | 17/49 | €283,157 | €314,410 | +€31,253 | +11.0% |
| Amounts payable after more than one year | 17 | €204,234 | €286,027 | +€81,793 | +40.0% |
| Financial debts | 170/4 | €204,234 | €286,027 | +€81,793 | +40.0% |
| Amounts payable within one year | 42/48 | €78,923 | €28,383 | -€50,540 | -64.0% |
| Trade debts | 44 | €66,874 | €16,266 | -€50,607 | -75.7% |
| Suppliers | 440/4 | €66,874 | €16,266 | -€50,607 | -75.7% |
| Advances received on contracts in progress | 46 | €3,866 | €3,866 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,728 | €8,251 | +€5,523 | +202.4% |
| Taxes | 450/3 | - | €2,072 | +€2,072 | |
| Remuneration and social security | 454/9 | €2,728 | €6,178 | +€3,450 | +126.5% |
| Other amounts payable | 47/48 | €5,455 | €0 | -€5,455 | -100.0% |
| Remuneration, social security and pensions | 62 | €13,182 | €55,416 | +€42,235 | +320.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,523 | €20,018 | +€8,494 | +73.7% |
| Other operating charges | 640/8 | - | €1,537 | +€1,537 | |
| Gross operating margin | 9900 | -€37,572 | €12,405 | +€49,977 | |
| Operating profit (loss) | 9901 | -€62,277 | -€64,566 | -€2,289 | -3.7% |
| Financial charges | 65/66B | €62 | €2,934 | +€2,872 | +4630.0% |
| Recurring financial charges | 65 | €62 | €2,934 | +€2,872 | +4630.0% |
| Profit (loss) for the period before taxes | 9903 | -€62,339 | -€67,501 | -€5,161 | -8.3% |
| Profit (loss) for the period | 9904 | -€62,339 | -€67,501 | -€5,161 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,339 | -€67,501 | -€5,161 | -8.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.