SERLICO: 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.
SERLICO
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+758.0%), from €137,642 to €1.2m
of which Other tangible fixed assets: +€653,340
- Intangible fixed assets -€40,429
down €40,429 (-18.6%), from €216,876 to €176,447
- Receivables within one year -€29,104
down €29,104 (-10.3%), from €283,008 to €253,903
of which Other amounts receivable: -€132,007
- Other debts +€1.2m
new in 2025: €1.2m
- Trade debts -€227,731
down €227,731 (-62.0%), from €367,145 to €139,414
- Profit (loss) carried forward +€51,007
up €51,007 (+25.4%), from €200,505 to €251,512
- Tax, wage and social debts -€46,815
down €46,815 (-30.4%), from €153,929 to €107,114
of which Remuneration and social security: -€27,618
- Gross operating margin +€156,382
up €156,382 (+27.9%), from €561,196 to €717,578
- Staff costs -€107,951
down €107,951 (-18.7%), from €577,612 to €469,661
- Depreciation +€105,647
up €105,647 (+160.4%), from €65,857 to €171,504
- Financial charges +€19,509
up €19,509 (+8471.7%), from €230 to €19,739
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 | €738,079 | €1,693,642 | +€955,562 | +129.5% |
| Fixed assets | 21/28 | €354,518 | €1,357,423 | +€1.0m | +282.9% |
| Intangible fixed assets | 21 | €216,876 | €176,447 | -€40,429 | -18.6% |
| Tangible fixed assets | 22/27 | €137,642 | €1,180,976 | +€1.0m | +758.0% |
| Plant, machinery and equipment | 23 | €61,487 | €451,481 | +€389,994 | +634.3% |
| Other tangible fixed assets | 26 | €76,156 | €729,495 | +€653,340 | +857.9% |
| Current assets | 29/58 | €383,562 | €336,219 | -€47,343 | -12.3% |
| Stocks and contracts in progress | 3 | €64,798 | €57,866 | -€6,932 | -10.7% |
| Stocks | 30/36 | €64,798 | €57,866 | -€6,932 | -10.7% |
| Amounts receivable within one year | 40/41 | €283,008 | €253,903 | -€29,104 | -10.3% |
| Trade receivables | 40 | €150,746 | €253,649 | +€102,903 | +68.3% |
| Other amounts receivable | 41 | €132,261 | €255 | -€132,007 | -99.8% |
| Cash at bank and in hand | 54/58 | €35,756 | €24,450 | -€11,306 | -31.6% |
| Total equity and liabilities | 10/49 | €738,079 | €1,693,642 | +€955,562 | +129.5% |
| Equity | 10/15 | €217,005 | €268,012 | +€51,007 | +23.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €1,500 | €1,500 | = | 0.0% |
| Distributable reserves | 133 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,505 | €251,512 | +€51,007 | +25.4% |
| Amounts payable | 17/49 | €521,074 | €1,425,629 | +€904,555 | +173.6% |
| Amounts payable within one year | 42/48 | €521,074 | €1,425,629 | +€904,555 | +173.6% |
| Trade debts | 44 | €367,145 | €139,414 | -€227,731 | -62.0% |
| Suppliers | 440/4 | €367,145 | €139,414 | -€227,731 | -62.0% |
| Taxes, remuneration and social security | 45 | €153,929 | €107,114 | -€46,815 | -30.4% |
| Taxes | 450/3 | €52,423 | €33,227 | -€19,197 | -36.6% |
| Remuneration and social security | 454/9 | €101,506 | €73,888 | -€27,618 | -27.2% |
| Other amounts payable | 47/48 | - | €1,179,101 | +€1.2m | |
| Remuneration, social security and pensions | 62 | €577,612 | €469,661 | -€107,951 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,857 | €171,504 | +€105,647 | +160.4% |
| Other operating charges | 640/8 | €6,540 | €5,671 | -€868 | -13.3% |
| Gross operating margin | 9900 | €561,196 | €717,578 | +€156,382 | +27.9% |
| Operating profit (loss) | 9901 | -€88,813 | €70,742 | +€159,554 | |
| Financial income | 75/76B | €4,824 | - | -€4,824 | |
| Recurring financial income | 75 | €4,824 | - | -€4,824 | |
| Financial charges | 65/66B | €230 | €19,739 | +€19,509 | +8471.7% |
| Recurring financial charges | 65 | €230 | €19,739 | +€19,509 | +8471.7% |
| Profit (loss) for the period before taxes | 9903 | -€84,219 | €51,003 | +€135,222 | |
| Income taxes | 67/77 | €55 | -€5 | -€59 | |
| Profit (loss) for the period | 9904 | -€84,274 | €51,007 | +€135,281 | |
| Profit (loss) for the period to be appropriated | 9905 | -€84,274 | €51,007 | +€135,281 |
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 10 October 2026 via checked.be.