Serene: 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.
Serene
Largest movements
- Tangible fixed assets -€25,667
down €25,667 (-85.7%), from €29,936 to €4,269
of which Assets under construction and advance payments: -€29,515
- Deferred charges and accrued income +€10,643
up €10,643 (+387%), from €2,749 to €13,392
- Receivables within one year -€10,601
down €10,601 (-23.6%), from €44,966 to €34,364
of which Trade receivables: -€17,929
- Cash +€2,471
up €2,471 (+2.4%), from €101,307 to €103,778
mainly Other debts (+€51,230) and Investment in fixed assets (net) (+€24,808)
- Reserves -€57,280
down €57,280 (-59.2%), from €96,689 to €39,409
- Other debts +€51,230
up €51,230 (+2,995,889%), from €2 to €51,231
- Tax, wage and social debts -€18,067
down €18,067 (-74.2%), from €24,342 to €6,275
- Write-downs +€30,000
new in 2025: €30,000
- Gross operating margin -€8,456
down €8,456 (-16.9%), from €50,016 to €41,560
- Taxes -€7,780
down €7,780 (-73.3%), from €10,613 to €2,833
- Financial charges +€1,726
up €1,726 (+105%), from €1,651 to €3,377
- Other operating charges +€737
up €737 (+50.4%), from €1,463 to €2,200
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 | €183,288 | €158,986 | -€24,302 | -13.3% |
| Fixed assets | 21/28 | €29,936 | €4,269 | -€25,667 | -85.7% |
| Tangible fixed assets | 22/27 | €29,936 | €4,269 | -€25,667 | -85.7% |
| Plant, machinery and equipment | 23 | €421 | €171 | -€250 | -59.4% |
| Furniture and vehicles | 24 | - | €4,098 | +€4,098 | |
| Assets under construction and advance payments | 27 | €29,515 | €0 | -€29,515 | -100% |
| Current assets | 29/58 | €153,352 | €154,717 | +€1,365 | +0.9% |
| Stocks and contracts in progress | 3 | €4,330 | €3,183 | -€1,147 | -26.5% |
| Stocks | 30/36 | €4,330 | €3,183 | -€1,147 | -26.5% |
| Amounts receivable within one year | 40/41 | €44,966 | €34,364 | -€10,601 | -23.6% |
| Trade receivables | 40 | €44,966 | €27,036 | -€17,929 | -39.9% |
| Other amounts receivable | 41 | €0 | €7,328 | +€7,328 | |
| Cash at bank and in hand | 54/58 | €101,307 | €103,778 | +€2,471 | +2.4% |
| Deferred charges and accrued income | 490/1 | €2,749 | €13,392 | +€10,643 | +387% |
| Total equity and liabilities | 10/49 | €183,288 | €158,986 | -€24,302 | -13.3% |
| Equity | 10/15 | €97,189 | €39,909 | -€57,280 | -58.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €96,689 | €39,409 | -€57,280 | -59.2% |
| Distributable reserves | 133 | €96,689 | €39,409 | -€57,280 | -59.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €86,098 | €119,077 | +€32,979 | +38.3% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Financial debts | 170/4 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,593 | €58,571 | +€32,979 | +129% |
| Financial debts | 43 | €520 | €416 | -€103 | -19.8% |
| Credit institutions | 430/8 | €520 | €416 | -€103 | -19.8% |
| Trade debts | 44 | €730 | €648 | -€81 | -11.1% |
| Suppliers | 440/4 | €730 | €648 | -€81 | -11.1% |
| Taxes, remuneration and social security | 45 | €24,342 | €6,275 | -€18,067 | -74.2% |
| Taxes | 450/3 | €24,342 | €6,275 | -€18,067 | -74.2% |
| Other amounts payable | 47/48 | €2 | €51,231 | +€51,230 | +2,995,889% |
| Accrued charges and deferred income | 492/3 | €506 | €506 | = | 0.0% |
| Non-recurring operating income | 76A | - | €485 | +€485 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €735 | €859 | +€124 | +16.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €30,000 | +€30,000 | |
| Other operating charges | 640/8 | €1,463 | €2,200 | +€737 | +50.4% |
| Gross operating margin | 9900 | €50,016 | €41,560 | -€8,456 | -16.9% |
| Operating profit (loss) | 9901 | €47,818 | €8,501 | -€39,317 | -82.2% |
| Financial income | 75/76B | €37 | €428 | +€391 | +1,049% |
| Recurring financial income | 75 | €37 | €428 | +€391 | +1,049% |
| Financial charges | 65/66B | €1,651 | €3,377 | +€1,726 | +105% |
| Recurring financial charges | 65 | €1,651 | €3,377 | +€1,726 | +105% |
| Profit (loss) for the period before taxes | 9903 | €46,204 | €5,552 | -€40,651 | -88.0% |
| Income taxes | 67/77 | €10,613 | €2,833 | -€7,780 | -73.3% |
| Profit (loss) for the period | 9904 | €35,591 | €2,720 | -€32,871 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,591 | €2,720 | -€32,871 | -92.4% |
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 30 October 2026 via checked.be.