Seres Estates: 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.
Seres Estates
Largest movements
- Cash -€15,221
down €15,221 (-77.4%), from €19,663 to €4,442
mainly Debts after one year (-€54,669) and Investment in fixed assets (net) (-€39,712)
- Debts after one year -€54,669
down €54,669 (-3.8%), from €1.4m to €1.4m
of which Financial debts: -€41,346
- Accrued charges and deferred income +€18,303
up €18,303 (+89.3%), from €20,498 to €38,801
- Depreciation -€139,390
down €139,390 (-76.5%), from €182,272 to €42,882
- Gross operating margin +€57,558
up €57,558 (+90.5%), from €63,567 to €121,125
- Financial charges +€27,886
up €27,886 (+86.3%), from €32,315 to €60,201
- Other operating charges +€3,212
up €3,212 (+89.6%), from €3,586 to €6,798
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 | €1,413,851 | €1,396,340 | -€17,511 | -1.2% |
| Fixed assets | 21/28 | €1,394,188 | €1,391,018 | -€3,170 | -0.2% |
| Tangible fixed assets | 22/27 | €1,394,188 | €1,391,018 | -€3,170 | -0.2% |
| Land and buildings | 22 | €1,378,150 | €1,341,396 | -€36,754 | -2.7% |
| Plant, machinery and equipment | 23 | €15,454 | €48,498 | +€33,044 | +213.8% |
| Furniture and vehicles | 24 | €584 | €1,124 | +€540 | +92.4% |
| Current assets | 29/58 | €19,663 | €5,322 | -€14,341 | -72.9% |
| Cash at bank and in hand | 54/58 | €19,663 | €4,442 | -€15,221 | -77.4% |
| Deferred charges and accrued income | 490/1 | - | €880 | +€880 | |
| Total equity and liabilities | 10/49 | €1,413,851 | €1,396,340 | -€17,511 | -1.2% |
| Equity | 10/15 | -€82,531 | -€71,286 | +€11,244 | +13.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€150,700 | -€139,456 | +€11,244 | +7.5% |
| Amounts payable | 17/49 | €1,496,381 | €1,467,626 | -€28,755 | -1.9% |
| Amounts payable after more than one year | 17 | €1,435,587 | €1,380,918 | -€54,669 | -3.8% |
| Financial debts | 170/4 | €1,110,125 | €1,068,779 | -€41,346 | -3.7% |
| Other amounts payable | 178/9 | €325,461 | €312,139 | -€13,323 | -4.1% |
| Amounts payable within one year | 42/48 | €40,296 | €47,908 | +€7,611 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €39,875 | €41,346 | +€1,472 | +3.7% |
| Trade debts | 44 | €56 | €6,561 | +€6,506 | +11665.0% |
| Suppliers | 440/4 | €56 | €6,561 | +€6,506 | +11665.0% |
| Other amounts payable | 47/48 | €366 | - | -€366 | |
| Accrued charges and deferred income | 492/3 | €20,498 | €38,801 | +€18,303 | +89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,272 | €42,882 | -€139,390 | -76.5% |
| Other operating charges | 640/8 | €3,586 | €6,798 | +€3,212 | +89.6% |
| Gross operating margin | 9900 | €63,567 | €121,125 | +€57,558 | +90.5% |
| Operating profit (loss) | 9901 | -€122,291 | €71,445 | +€193,736 | |
| Financial charges | 65/66B | €32,315 | €60,201 | +€27,886 | +86.3% |
| Recurring financial charges | 65 | €32,315 | €60,201 | +€27,886 | +86.3% |
| Profit (loss) for the period before taxes | 9903 | -€154,606 | €11,244 | +€165,850 | |
| Income taxes | 67/77 | -€1,042 | - | +€1,042 | |
| Profit (loss) for the period | 9904 | -€153,564 | €11,244 | +€164,808 | |
| Profit (loss) for the period to be appropriated | 9905 | -€153,564 | €11,244 | +€164,808 |
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 7 October 2026 via checked.be.