SERGOYNE: 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.
SERGOYNE
Largest movements
- Cash +€109,768
up €109,768 (+82.4%), from €133,165 to €242,933
mainly Current investments (+€109,266) and Depreciation (+€42,423)
- Current investments -€109,266
down €109,266 (-23.0%), from €474,172 to €364,906
- Tangible fixed assets -€42,423
down €42,423 (-5.1%), from €838,291 to €795,868
of which Land and buildings: -€39,705
- Profit (loss) carried forward -€41,916
down €41,916 (-98.6%), from €42,516 to €600
- Financial charges +€18,313
up €18,313 (+24,096%), from €76 to €18,389
- Gross operating margin +€4,666
up €4,666 (+32.2%), from €14,491 to €19,157
- Financial income -€2,755
down €2,755 (-42.1%), from €6,538 to €3,783
- Depreciation -€2,754
down €2,754 (-6.1%), from €45,177 to €42,423
- Other operating charges +€2,301
up €2,301 (+157%), from €1,461 to €3,762
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 | €1,445,929 | €1,404,014 | -€41,915 | -2.9% |
| Fixed assets | 21/28 | €838,291 | €795,868 | -€42,423 | -5.1% |
| Tangible fixed assets | 22/27 | €838,291 | €795,868 | -€42,423 | -5.1% |
| Land and buildings | 22 | €835,156 | €795,451 | -€39,705 | -4.8% |
| Furniture and vehicles | 24 | €3,135 | €417 | -€2,718 | -86.7% |
| Current assets | 29/58 | €607,638 | €608,146 | +€508 | +0.1% |
| Current investments | 50/53 | €474,172 | €364,906 | -€109,266 | -23.0% |
| Cash at bank and in hand | 54/58 | €133,165 | €242,933 | +€109,768 | +82.4% |
| Deferred charges and accrued income | 490/1 | €301 | €307 | +€6 | +2.0% |
| Total equity and liabilities | 10/49 | €1,445,929 | €1,404,014 | -€41,915 | -2.9% |
| Equity | 10/15 | €1,432,969 | €1,391,053 | -€41,916 | -2.9% |
| Contributions | 10/11 | €1,375,000 | €1,375,000 | = | 0.0% |
| Reserves | 13 | €15,453 | €15,453 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,396 | €6,396 | = | 0.0% |
| Distributable reserves | 133 | €9,057 | €9,057 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,516 | €600 | -€41,916 | -98.6% |
| Amounts payable | 17/49 | €12,960 | €12,961 | +€1 | 0.0% |
| Amounts payable within one year | 42/48 | €12,960 | €12,961 | +€1 | 0.0% |
| Other amounts payable | 47/48 | €12,960 | €12,961 | +€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,177 | €42,423 | -€2,754 | -6.1% |
| Other operating charges | 640/8 | €1,461 | €3,762 | +€2,301 | +157% |
| Gross operating margin | 9900 | €14,491 | €19,157 | +€4,666 | +32.2% |
| Operating profit (loss) | 9901 | -€32,147 | -€27,028 | +€5,119 | +15.9% |
| Financial income | 75/76B | €6,538 | €3,783 | -€2,755 | -42.1% |
| Recurring financial income | 75 | €6,538 | €3,783 | -€2,755 | -42.1% |
| Financial charges | 65/66B | €76 | €18,389 | +€18,313 | +24,096% |
| Recurring financial charges | 65 | €76 | €18,389 | +€18,313 | +24,096% |
| Profit (loss) for the period before taxes | 9903 | -€25,685 | -€41,634 | -€15,949 | -62.1% |
| Income taxes | 67/77 | €146 | €282 | +€136 | +93.2% |
| Profit (loss) for the period | 9904 | -€25,831 | -€41,916 | -€16,085 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,831 | -€41,916 | -€16,085 | -62.3% |
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 29 October 2026 via checked.be.