SERENITY MANAGEMENT: 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.
SERENITY MANAGEMENT
Largest movements
- Cash -€46,088
down €46,088 (-62.0%), from €74,373 to €28,285
mainly Contributions, distributions and other (-€230,000) and Deferred charges and accrued income (-€12,020)
- Current investments -€40,200
down €40,200 (-30.6%), from €131,493 to €91,293
- Deferred charges and accrued income +€12,020
up €12,020 (+370%), from €3,245 to €15,266
- Receivables within one year -€9,126
down €9,126 (-21.9%), from €41,751 to €32,625
of which Trade receivables: -€10,408
- Profit (loss) carried forward -€126,844
down €126,844 (-96.1%), from €132,033 to €5,189
- Other debts +€41,538
up €41,538 (+46.0%), from €90,257 to €131,795
- Tax, wage and social debts +€4,593
up €4,593 (+46.3%), from €9,915 to €14,508
- Financial income +€8,257
up €8,257 (+315%), from €2,622 to €10,880
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 | €253,891 | €172,319 | -€81,572 | -32.1% |
| Fixed assets | 21/28 | €3,029 | €4,850 | +€1,820 | +60.1% |
| Tangible fixed assets | 22/27 | €2,939 | €4,759 | +€1,820 | +62.0% |
| Furniture and vehicles | 24 | €0 | €2,096 | +€2,096 | |
| Other tangible fixed assets | 26 | €2,939 | €2,663 | -€275 | -9.4% |
| Financial fixed assets | 28 | €91 | €91 | = | 0.0% |
| Current assets | 29/58 | €250,862 | €167,469 | -€83,393 | -33.2% |
| Amounts receivable within one year | 40/41 | €41,751 | €32,625 | -€9,126 | -21.9% |
| Trade receivables | 40 | €37,322 | €26,914 | -€10,408 | -27.9% |
| Other amounts receivable | 41 | €4,429 | €5,711 | +€1,282 | +29.0% |
| Current investments | 50/53 | €131,493 | €91,293 | -€40,200 | -30.6% |
| Cash at bank and in hand | 54/58 | €74,373 | €28,285 | -€46,088 | -62.0% |
| Deferred charges and accrued income | 490/1 | €3,245 | €15,266 | +€12,020 | +370% |
| Total equity and liabilities | 10/49 | €253,891 | €172,319 | -€81,572 | -32.1% |
| Equity | 10/15 | €152,438 | €25,594 | -€126,844 | -83.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,033 | €5,189 | -€126,844 | -96.1% |
| Amounts payable | 17/49 | €101,454 | €146,725 | +€45,271 | +44.6% |
| Amounts payable within one year | 42/48 | €101,454 | €146,725 | +€45,271 | +44.6% |
| Trade debts | 44 | €1,282 | €422 | -€859 | -67.0% |
| Suppliers | 440/4 | €1,282 | €422 | -€859 | -67.0% |
| Taxes, remuneration and social security | 45 | €9,915 | €14,508 | +€4,593 | +46.3% |
| Taxes | 450/3 | €9,915 | €14,508 | +€4,593 | +46.3% |
| Other amounts payable | 47/48 | €90,257 | €131,795 | +€41,538 | +46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,136 | €618 | -€518 | -45.6% |
| Other operating charges | 640/8 | €1,674 | €1,207 | -€467 | -27.9% |
| Gross operating margin | 9900 | €119,723 | €119,915 | +€191 | +0.2% |
| Operating profit (loss) | 9901 | €116,914 | €118,089 | +€1,176 | +1.0% |
| Financial income | 75/76B | €2,622 | €10,880 | +€8,257 | +315% |
| Recurring financial income | 75 | €2,622 | €10,880 | +€8,257 | +315% |
| Financial charges | 65/66B | €92 | €1,171 | +€1,078 | +1,169% |
| Recurring financial charges | 65 | €92 | €1,171 | +€1,078 | +1,169% |
| Profit (loss) for the period before taxes | 9903 | €119,443 | €127,798 | +€8,355 | +7.0% |
| Income taxes | 67/77 | €25,690 | €24,642 | -€1,048 | -4.1% |
| Profit (loss) for the period | 9904 | €93,753 | €103,156 | +€9,403 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,753 | €103,156 | +€9,403 | +10.0% |
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.