SERENIS: 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.
SERENIS
Largest movements
- Receivables within one year +€6,925
up €6,925 (+4.3%), from €162,087 to €169,012
of which Other amounts receivable: +€7,542
- Deferred charges and accrued income -€5,631
no longer reported in 2025 (was €5,631)
- Trade debts +€27,236
up €27,236 (+495%), from €5,505 to €32,741
- Profit (loss) carried forward -€13,120
down €13,120 (-21.1%), from €62,278 to €49,157
- Tax, wage and social debts -€9,269
no longer reported in 2025 (was €9,269)
- Short-term financial debts -€4,335
down €4,335 (-44.3%), from €9,790 to €5,455
- Gross operating margin -€34,798
down €34,798, from €24,115 to -€10,682
- Taxes -€7,175
down €7,175 (-99.7%), from €7,198 to €23
- Other operating charges -€1,498
no longer reported in 2025 (was €1,498)
- Financial charges -€948
down €948 (-49.0%), from €1,935 to €986
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €170,875 | €170,740 | -€135 | -0.1% |
| Fixed assets | 21/28 | €3,157 | €1,728 | -€1,428 | -45.2% |
| Tangible fixed assets | 22/27 | €2,857 | €1,428 | -€1,428 | -50.0% |
| Plant, machinery and equipment | 23 | €208 | €123 | -€85 | -40.9% |
| Furniture and vehicles | 24 | €2,649 | €1,306 | -€1,343 | -50.7% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €167,718 | €169,012 | +€1,294 | +0.8% |
| Amounts receivable within one year | 40/41 | €162,087 | €169,012 | +€6,925 | +4.3% |
| Trade receivables | 40 | €26,644 | €26,027 | -€617 | -2.3% |
| Other amounts receivable | 41 | €135,443 | €142,985 | +€7,542 | +5.6% |
| Deferred charges and accrued income | 490/1 | €5,631 | - | -€5,631 | |
| Total equity and liabilities | 10/49 | €170,875 | €170,740 | -€135 | -0.1% |
| Equity | 10/15 | €144,979 | €131,859 | -€13,120 | -9.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,502 | €76,502 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,015 | €4,015 | = | 0.0% |
| Distributable reserves | 133 | €72,487 | €72,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,278 | €49,157 | -€13,120 | -21.1% |
| Amounts payable | 17/49 | €25,895 | €38,881 | +€12,986 | +50.1% |
| Amounts payable within one year | 42/48 | €25,895 | €38,881 | +€12,986 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €1,332 | €685 | -€647 | -48.6% |
| Financial debts | 43 | €9,790 | €5,455 | -€4,335 | -44.3% |
| Credit institutions | 430/8 | €9,790 | €5,455 | -€4,335 | -44.3% |
| Trade debts | 44 | €5,505 | €32,741 | +€27,236 | +495% |
| Suppliers | 440/4 | €5,505 | €32,741 | +€27,236 | +495% |
| Taxes, remuneration and social security | 45 | €9,269 | - | -€9,269 | |
| Taxes | 450/3 | €9,269 | - | -€9,269 | |
| Non-recurring operating income | 76A | - | €4,119 | +€4,119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,565 | €1,428 | -€136 | -8.7% |
| Other operating charges | 640/8 | €1,498 | - | -€1,498 | |
| Gross operating margin | 9900 | €24,115 | -€10,682 | -€34,798 | |
| Operating profit (loss) | 9901 | €21,053 | -€12,111 | -€33,164 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €1,935 | €986 | -€948 | -49.0% |
| Recurring financial charges | 65 | €1,935 | €986 | -€948 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | €19,120 | -€13,097 | -€32,217 | |
| Income taxes | 67/77 | €7,198 | €23 | -€7,175 | -99.7% |
| Profit (loss) for the period | 9904 | €11,922 | -€13,120 | -€25,042 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,922 | -€13,120 | -€25,042 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.