SERITIS: 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.
SERITIS
Largest movements
- Cash -€41,597
down €41,597 (-32.9%), from €126,510 to €84,913
mainly Contributions, distributions and other (-€141,176) and Receivables within one year (-€17,970)
- Receivables after one year -€28,000
no longer reported in 2025 (was €28,000)
- Receivables within one year +€17,970
up €17,970 (+37.7%), from €47,676 to €65,646
of which Other amounts receivable: +€14,572
- Tangible fixed assets +€9,322
up €9,322 (+135.1%), from €6,898 to €16,220
of which Leasing and similar rights: +€11,744
- Reserves -€41,491
down €41,491 (-20.6%), from €201,308 to €159,817
- Gross operating margin +€12,625
up €12,625 (+10.6%), from €119,223 to €131,848
- Taxes +€3,424
up €3,424 (+13.6%), from €25,123 to €28,547
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 | €213,404 | €170,301 | -€43,103 | -20.2% |
| Fixed assets | 21/28 | €6,898 | €16,220 | +€9,322 | +135.1% |
| Tangible fixed assets | 22/27 | €6,898 | €16,220 | +€9,322 | +135.1% |
| Furniture and vehicles | 24 | €6,898 | €4,476 | -€2,422 | -35.1% |
| Leasing and similar rights | 25 | - | €11,744 | +€11,744 | |
| Current assets | 29/58 | €206,506 | €154,081 | -€52,425 | -25.4% |
| Amounts receivable after more than one year | 29 | €28,000 | - | -€28,000 | |
| Other amounts receivable | 291 | €28,000 | - | -€28,000 | |
| Amounts receivable within one year | 40/41 | €47,676 | €65,646 | +€17,970 | +37.7% |
| Trade receivables | 40 | €34,656 | €38,055 | +€3,399 | +9.8% |
| Other amounts receivable | 41 | €13,019 | €27,591 | +€14,572 | +111.9% |
| Cash at bank and in hand | 54/58 | €126,510 | €84,913 | -€41,597 | -32.9% |
| Deferred charges and accrued income | 490/1 | €4,320 | €3,522 | -€798 | -18.5% |
| Total equity and liabilities | 10/49 | €213,404 | €170,301 | -€43,103 | -20.2% |
| Equity | 10/15 | €201,408 | €159,917 | -€41,491 | -20.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €201,308 | €159,817 | -€41,491 | -20.6% |
| Distributable reserves | 133 | €201,308 | €159,817 | -€41,491 | -20.6% |
| Amounts payable | 17/49 | €11,996 | €10,384 | -€1,612 | -13.4% |
| Amounts payable within one year | 42/48 | €11,792 | €10,384 | -€1,408 | -11.9% |
| Trade debts | 44 | €1,713 | €622 | -€1,091 | -63.7% |
| Suppliers | 440/4 | €1,713 | €622 | -€1,091 | -63.7% |
| Taxes, remuneration and social security | 45 | €10,079 | €9,762 | -€317 | -3.1% |
| Taxes | 450/3 | €10,079 | €9,762 | -€317 | -3.1% |
| Accrued charges and deferred income | 492/3 | €204 | - | -€204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,904 | €2,641 | +€737 | +38.7% |
| Other operating charges | 640/8 | €513 | €981 | +€468 | +91.2% |
| Gross operating margin | 9900 | €119,223 | €131,848 | +€12,625 | +10.6% |
| Operating profit (loss) | 9901 | €116,806 | €128,227 | +€11,420 | +9.8% |
| Financial income | 75/76B | €1,017 | €840 | -€177 | -17.4% |
| Recurring financial income | 75 | €1,017 | €840 | -€177 | -17.4% |
| Financial charges | 65/66B | €1,520 | €834 | -€686 | -45.1% |
| Recurring financial charges | 65 | €1,520 | €834 | -€686 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €116,303 | €128,232 | +€11,930 | +10.3% |
| Income taxes | 67/77 | €25,123 | €28,547 | +€3,424 | +13.6% |
| Profit (loss) for the period | 9904 | €91,179 | €99,685 | +€8,506 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,179 | €99,685 | +€8,506 | +9.3% |
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.