SERINCHAMPS: 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.
SERINCHAMPS
Largest movements
- Tangible fixed assets -€948,556
down €948,556 (-85.5%), from €1.1m to €161,448
- Current investments +€252,500
new in 2025: €252,500
- Cash -€237,619
down €237,619 (-50.6%), from €469,980 to €232,361
mainly Contributions, distributions and other (-€950,000) and Current investments (-€252,500)
- Receivables within one year +€65,139
up €65,139 (+40.1%), from €162,452 to €227,592
of which Other amounts receivable: +€33,418
- Revaluation surpluses -€950,000
no longer reported in 2025 (was €950,000)
- Other debts +€152,906
up €152,906 (+200.3%), from €76,333 to €229,238
- Trade debts -€110,177
down €110,177 (-90.0%), from €122,356 to €12,179
- Advances received +€29,667
new in 2025: €29,667
- Financial income +€7,319
up €7,319 (+98.7%), from €7,413 to €14,732
- Gross operating margin +€6,475
up €6,475 (+457.5%), from €1,415 to €7,890
- Taxes +€3,116
up €3,116 (+347.9%), from €896 to €4,012
- Other operating charges +€2,768
up €2,768 (+138.1%), from €2,005 to €4,773
- Depreciation +€1,163
up €1,163 (+35.1%), from €3,312 to €4,475
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 | €1,742,436 | €873,901 | -€868,535 | -49.8% |
| Fixed assets | 21/28 | €1,110,004 | €161,448 | -€948,556 | -85.5% |
| Tangible fixed assets | 22/27 | €1,110,004 | €161,448 | -€948,556 | -85.5% |
| Land and buildings | 22 | €1,110,004 | €161,448 | -€948,556 | -85.5% |
| Current assets | 29/58 | €632,432 | €712,453 | +€80,021 | +12.7% |
| Amounts receivable within one year | 40/41 | €162,452 | €227,592 | +€65,139 | +40.1% |
| Trade receivables | 40 | €5,451 | €37,172 | +€31,721 | +581.9% |
| Other amounts receivable | 41 | €157,001 | €190,419 | +€33,418 | +21.3% |
| Current investments | 50/53 | - | €252,500 | +€252,500 | |
| Cash at bank and in hand | 54/58 | €469,980 | €232,361 | -€237,619 | -50.6% |
| Total equity and liabilities | 10/49 | €1,742,436 | €873,901 | -€868,535 | -49.8% |
| Equity | 10/15 | €1,542,718 | €600,163 | -€942,555 | -61.1% |
| Contributions | 10/11 | €67,666 | €67,666 | = | 0.0% |
| Capital | 10 | €67,666 | €67,666 | = | 0.0% |
| Issued capital | 100 | €67,666 | €67,666 | = | 0.0% |
| Revaluation surpluses | 12 | €950,000 | - | -€950,000 | |
| Reserves | 13 | €6,767 | €6,767 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,767 | €6,767 | = | 0.0% |
| Legal reserve | 130 | €6,767 | €6,767 | = | 0.0% |
| Profit (loss) carried forward | 14 | €518,285 | €525,730 | +€7,445 | +1.4% |
| Amounts payable | 17/49 | €199,718 | €273,738 | +€74,020 | +37.1% |
| Amounts payable within one year | 42/48 | €199,718 | €273,738 | +€74,020 | +37.1% |
| Trade debts | 44 | €122,356 | €12,179 | -€110,177 | -90.0% |
| Suppliers | 440/4 | €122,356 | €12,179 | -€110,177 | -90.0% |
| Advances received on contracts in progress | 46 | - | €29,667 | +€29,667 | |
| Taxes, remuneration and social security | 45 | €1,029 | €2,653 | +€1,624 | +157.8% |
| Taxes | 450/3 | €1,029 | €2,653 | +€1,624 | +157.8% |
| Other amounts payable | 47/48 | €76,333 | €229,238 | +€152,906 | +200.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,312 | €4,475 | +€1,163 | +35.1% |
| Other operating charges | 640/8 | €2,005 | €4,773 | +€2,768 | +138.1% |
| Gross operating margin | 9900 | €1,415 | €7,890 | +€6,475 | +457.5% |
| Operating profit (loss) | 9901 | -€3,902 | -€1,358 | +€2,544 | +65.2% |
| Financial income | 75/76B | €7,413 | €14,732 | +€7,319 | +98.7% |
| Recurring financial income | 75 | €7,413 | €14,732 | +€7,319 | +98.7% |
| Financial charges | 65/66B | €939 | €1,917 | +€979 | +104.3% |
| Recurring financial charges | 65 | €939 | €1,917 | +€979 | +104.3% |
| Profit (loss) for the period before taxes | 9903 | €2,573 | €11,457 | +€8,884 | +345.2% |
| Income taxes | 67/77 | €896 | €4,012 | +€3,116 | +347.9% |
| Profit (loss) for the period | 9904 | €1,678 | €7,445 | +€5,768 | +343.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,678 | €7,445 | +€5,768 | +343.8% |
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 9 October 2026 via checked.be.