SERGE PROSMAN: 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.
SERGE PROSMAN
Largest movements
- Current investments -€1.2m
down €1.2m (-48.1%), from €2.5m to €1.3m
- Cash +€721,255
up €721,255 (+247%), from €292,450 to €1.0m
mainly Current investments (+€1.2m) and Receivables within one year (+€127,777)
- Receivables within one year -€127,777
down €127,777 (-85.5%), from €149,494 to €21,717
of which Other amounts receivable: -€120,072
- Tangible fixed assets -€85,368
down €85,368 (-6.4%), from €1.3m to €1.2m
of which Land and buildings: -€65,340
- Accrued charges and deferred income -€545,747
down €545,747 (-31.7%), from €1.7m to €1.2m
- Other debts -€146,653
down €146,653 (-64.7%), from €226,601 to €79,948
- Debts after one year -€70,467
down €70,467 (-28.1%), from €251,022 to €180,555
- Gross operating margin -€208,029
down €208,029 (-37.9%), from €549,307 to €341,278
- Depreciation -€89,813
down €89,813 (-47.3%), from €189,845 to €100,033
- Taxes -€49,553
down €49,553 (-40.3%), from €122,987 to €73,434
- Financial charges +€48,195
up €48,195 (+337%), from €14,295 to €62,489
- Financial income -€27,989
down €27,989 (-43.8%), from €63,835 to €35,846
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 | €4,290,019 | €3,586,879 | -€703,140 | -16.4% |
| Fixed assets | 21/28 | €1,329,994 | €1,244,626 | -€85,368 | -6.4% |
| Tangible fixed assets | 22/27 | €1,329,994 | €1,244,626 | -€85,368 | -6.4% |
| Land and buildings | 22 | €1,249,142 | €1,183,802 | -€65,340 | -5.2% |
| Plant, machinery and equipment | 23 | €3,690 | €1,513 | -€2,176 | -59.0% |
| Furniture and vehicles | 24 | €70,162 | €52,311 | -€17,851 | -25.4% |
| Other tangible fixed assets | 26 | €7,000 | €7,000 | = | 0.0% |
| Current assets | 29/58 | €2,960,025 | €2,342,252 | -€617,773 | -20.9% |
| Amounts receivable within one year | 40/41 | €149,494 | €21,717 | -€127,777 | -85.5% |
| Trade receivables | 40 | €7,704 | - | -€7,704 | |
| Other amounts receivable | 41 | €141,789 | €21,717 | -€120,072 | -84.7% |
| Current investments | 50/53 | €2,500,000 | €1,298,091 | -€1.2m | -48.1% |
| Cash at bank and in hand | 54/58 | €292,450 | €1,013,706 | +€721,255 | +247% |
| Deferred charges and accrued income | 490/1 | €18,081 | €8,738 | -€9,343 | -51.7% |
| Total equity and liabilities | 10/49 | €4,290,019 | €3,586,879 | -€703,140 | -16.4% |
| Equity | 10/15 | €2,007,224 | €2,047,045 | +€39,821 | +2.0% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €1,635,247 | €1,675,068 | +€39,821 | +2.4% |
| Non-distributable reserves | 130/1 | €6,300 | - | -€6,300 | |
| Reserves not available under the articles | 1311 | €6,300 | - | -€6,300 | |
| Tax-exempt reserves | 132 | €1,723 | €1,723 | = | 0.0% |
| Distributable reserves | 133 | €1,627,224 | €1,673,345 | +€46,121 | +2.8% |
| Profit (loss) carried forward | 14 | €308,977 | €308,977 | = | 0.0% |
| Amounts payable | 17/49 | €2,282,795 | €1,539,834 | -€742,961 | -32.5% |
| Amounts payable after more than one year | 17 | €251,022 | €180,555 | -€70,467 | -28.1% |
| Financial debts | 170/4 | €251,022 | €180,555 | -€70,467 | -28.1% |
| Amounts payable within one year | 42/48 | €309,668 | €182,920 | -€126,747 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €73,019 | €76,205 | +€3,186 | +4.4% |
| Trade debts | 44 | €10,048 | €15,005 | +€4,957 | +49.3% |
| Suppliers | 440/4 | €10,048 | €15,005 | +€4,957 | +49.3% |
| Taxes, remuneration and social security | 45 | - | €11,763 | +€11,763 | |
| Taxes | 450/3 | - | €11,763 | +€11,763 | |
| Other amounts payable | 47/48 | €226,601 | €79,948 | -€146,653 | -64.7% |
| Accrued charges and deferred income | 492/3 | €1,722,105 | €1,176,359 | -€545,747 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,845 | €100,033 | -€89,813 | -47.3% |
| Other operating charges | 640/8 | €17,765 | €21,348 | +€3,583 | +20.2% |
| Gross operating margin | 9900 | €549,307 | €341,278 | -€208,029 | -37.9% |
| Operating profit (loss) | 9901 | €341,697 | €219,898 | -€121,799 | -35.6% |
| Financial income | 75/76B | €63,835 | €35,846 | -€27,989 | -43.8% |
| Recurring financial income | 75 | €63,835 | €35,846 | -€27,989 | -43.8% |
| Financial charges | 65/66B | €14,295 | €62,489 | +€48,195 | +337% |
| Recurring financial charges | 65 | €14,295 | €62,489 | +€48,195 | +337% |
| Profit (loss) for the period before taxes | 9903 | €391,238 | €193,254 | -€197,983 | -50.6% |
| Income taxes | 67/77 | €122,987 | €73,434 | -€49,553 | -40.3% |
| Profit (loss) for the period | 9904 | €268,251 | €119,821 | -€148,430 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €268,251 | €119,821 | -€148,430 | -55.3% |
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 21 October 2026 via checked.be.