SERINAYAZ: 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.
SERINAYAZ
Largest movements
- Stocks and contracts +€8,001
up €8,001 (+12.4%), from €64,279 to €72,280
- Cash -€7,115
down €7,115 (-28.8%), from €24,735 to €17,620
mainly Stocks and contracts (-€8,001) and Tax, wage and social debts (-€2,018)
- Tax, wage and social debts -€2,018
down €2,018 (-24.3%), from €8,307 to €6,289
- Debts after one year +€2,000
up €2,000 (+3.3%), from €60,000 to €62,000
- Profit (loss) carried forward +€1,018
up €1,018 (+13.0%), from €7,829 to €8,847
- Depreciation -€226
down €226 (-63.5%), from €356 to €130
- Gross operating margin -€109
down €109 (-2.8%), from €3,970 to €3,860
- Other operating charges +€75
up €75 (+3.2%), from €2,365 to €2,440
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 | €95,099 | €95,854 | +€755 | +0.8% |
| Fixed assets | 21/28 | €6,085 | €5,955 | -€130 | -2.1% |
| Tangible fixed assets | 22/27 | €385 | €255 | -€130 | -33.8% |
| Plant, machinery and equipment | 23 | €340 | €255 | -€85 | -25.0% |
| Furniture and vehicles | 24 | €45 | - | -€45 | |
| Financial fixed assets | 28 | €5,700 | €5,700 | = | 0.0% |
| Current assets | 29/58 | €89,014 | €89,900 | +€885 | +1.0% |
| Stocks and contracts in progress | 3 | €64,279 | €72,280 | +€8,001 | +12.4% |
| Stocks | 30/36 | €64,279 | €72,280 | +€8,001 | +12.4% |
| Cash at bank and in hand | 54/58 | €24,735 | €17,620 | -€7,115 | -28.8% |
| Total equity and liabilities | 10/49 | €95,099 | €95,854 | +€755 | +0.8% |
| Equity | 10/15 | €26,429 | €27,447 | +€1,018 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,829 | €8,847 | +€1,018 | +13.0% |
| Amounts payable | 17/49 | €68,670 | €68,408 | -€263 | -0.4% |
| Amounts payable after more than one year | 17 | €60,000 | €62,000 | +€2,000 | +3.3% |
| Other amounts payable | 178/9 | €60,000 | €62,000 | +€2,000 | +3.3% |
| Amounts payable within one year | 42/48 | €8,670 | €6,408 | -€2,263 | -26.1% |
| Trade debts | 44 | - | €116 | +€116 | |
| Suppliers | 440/4 | - | €116 | +€116 | |
| Taxes, remuneration and social security | 45 | €8,307 | €6,289 | -€2,018 | -24.3% |
| Taxes | 450/3 | €8,307 | €6,289 | -€2,018 | -24.3% |
| Other amounts payable | 47/48 | €363 | €3 | -€360 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €356 | €130 | -€226 | -63.5% |
| Other operating charges | 640/8 | €2,365 | €2,440 | +€75 | +3.2% |
| Gross operating margin | 9900 | €3,970 | €3,860 | -€109 | -2.8% |
| Operating profit (loss) | 9901 | €1,249 | €1,291 | +€42 | +3.4% |
| Financial charges | 65/66B | €0 | €0 | +€0 | +1233.3% |
| Recurring financial charges | 65 | €0 | €0 | +€0 | +1233.3% |
| Profit (loss) for the period before taxes | 9903 | €1,249 | €1,290 | +€42 | +3.3% |
| Income taxes | 67/77 | €245 | €272 | +€27 | +11.0% |
| Profit (loss) for the period | 9904 | €1,003 | €1,018 | +€14 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,003 | €1,018 | +€14 | +1.4% |
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 8 October 2026 via checked.be.