Serenity: 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.
Serenity
Largest movements
- Receivables within one year +€29,965
up €29,965 (+192.9%), from €15,537 to €45,502
of which Trade receivables: +€29,965
- Deferred charges and accrued income -€13,264
down €13,264 (-53.5%), from €24,806 to €11,542
- Debts after one year +€34,624
up €34,624 (+8.7%), from €397,000 to €431,624
- Profit (loss) carried forward -€27,083
down €27,083 (-84.7%), from -€31,969 to -€59,053
- Current portion of long-term debt +€12,376
new in 2025: €12,376
- Accrued charges and deferred income +€4,337
up €4,337 (+652.1%), from €665 to €5,002
- Gross operating margin +€41,580
up €41,580 (+64.3%), from €64,677 to €106,256
- Financial charges +€25,585
up €25,585 (+28.1%), from €91,036 to €116,621
- Depreciation +€2,220
up €2,220 (+17.1%), from €12,980 to €15,201
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 | €411,924 | €431,428 | +€19,504 | +4.7% |
| Fixed assets | 21/28 | €370,533 | €372,686 | +€2,153 | +0.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €370,533 | €372,686 | +€2,153 | +0.6% |
| Land and buildings | 22 | €364,861 | €354,960 | -€9,901 | -2.7% |
| Furniture and vehicles | 24 | €1,850 | €6,157 | +€4,307 | +232.8% |
| Other tangible fixed assets | 26 | €3,823 | €11,569 | +€7,747 | +202.7% |
| Current assets | 29/58 | €41,391 | €58,742 | +€17,351 | +41.9% |
| Amounts receivable within one year | 40/41 | €15,537 | €45,502 | +€29,965 | +192.9% |
| Trade receivables | 40 | €15,537 | €45,502 | +€29,965 | +192.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,048 | €1,698 | +€650 | +62.0% |
| Deferred charges and accrued income | 490/1 | €24,806 | €11,542 | -€13,264 | -53.5% |
| Total equity and liabilities | 10/49 | €411,924 | €431,428 | +€19,504 | +4.7% |
| Equity | 10/15 | -€23,909 | -€50,993 | -€27,083 | -113.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,969 | -€59,053 | -€27,083 | -84.7% |
| Amounts payable | 17/49 | €435,834 | €482,421 | +€46,587 | +10.7% |
| Amounts payable after more than one year | 17 | €397,000 | €431,624 | +€34,624 | +8.7% |
| Financial debts | 170/4 | €397,000 | €431,624 | +€34,624 | +8.7% |
| Amounts payable within one year | 42/48 | €38,169 | €45,796 | +€7,627 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,376 | +€12,376 | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €22,632 | €18,527 | -€4,105 | -18.1% |
| Suppliers | 440/4 | €22,632 | €18,527 | -€4,105 | -18.1% |
| Taxes, remuneration and social security | 45 | €15,362 | €14,745 | -€617 | -4.0% |
| Taxes | 450/3 | €15,362 | €14,745 | -€617 | -4.0% |
| Other amounts payable | 47/48 | €175 | €148 | -€28 | -15.8% |
| Accrued charges and deferred income | 492/3 | €665 | €5,002 | +€4,337 | +652.1% |
| Non-recurring operating income | 76A | €19,151 | €0 | -€19,151 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,980 | €15,201 | +€2,220 | +17.1% |
| Other operating charges | 640/8 | €866 | €1,801 | +€935 | +108.0% |
| Non-recurring operating charges | 66A | €263 | €574 | +€311 | +118.4% |
| Gross operating margin | 9900 | €64,677 | €106,256 | +€41,580 | +64.3% |
| Operating profit (loss) | 9901 | €50,568 | €88,681 | +€38,113 | +75.4% |
| Financial income | 75/76B | €1 | €1,056 | +€1,055 | +144535.6% |
| Recurring financial income | 75 | €1 | €1,056 | +€1,055 | +144535.6% |
| Financial charges | 65/66B | €91,036 | €116,621 | +€25,585 | +28.1% |
| Recurring financial charges | 65 | €91,036 | €116,621 | +€25,585 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | -€40,468 | -€26,884 | +€13,583 | +33.6% |
| Income taxes | 67/77 | €310 | €199 | -€111 | -35.8% |
| Profit (loss) for the period | 9904 | -€40,778 | -€27,083 | +€13,694 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,778 | -€27,083 | +€13,694 | +33.6% |
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 5 October 2026 via checked.be.