SERNADENT: 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.
SERNADENT
Largest movements
- Cash +€35,861
up €35,861 (+11.4%), from €315,431 to €351,292
mainly Other debts (+€106,556) and Net result for the year (+€53,279)
- Receivables within one year -€24,220
no longer reported in 2025 (was €24,220)
of which Other amounts receivable: -€23,991
- Tangible fixed assets -€17,361
down €17,361 (-22.6%), from €76,700 to €59,338
of which Plant, machinery and equipment: -€19,252
- Deferred charges and accrued income -€7,541
down €7,541 (-80.6%), from €9,355 to €1,814
- Other debts +€106,556
up €106,556 (+247%), from €43,100 to €149,656
- Reserves -€93,000
down €93,000 (-29.7%), from €313,360 to €220,360
- Tax, wage and social debts -€17,408
down €17,408 (-62.2%), from €27,965 to €10,558
of which Taxes: -€19,755
- Debts after one year -€7,162
down €7,162 (-74.0%), from €9,673 to €2,512
- Gross operating margin +€4,493
up €4,493 (+3.3%), from €135,439 to €139,933
- Staff costs -€2,739
down €2,739 (-7.3%), from €37,548 to €34,809
- Depreciation +€2,139
up €2,139 (+7.9%), from €27,077 to €29,216
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 | €425,706 | €412,445 | -€13,261 | -3.1% |
| Fixed assets | 21/28 | €76,700 | €59,338 | -€17,361 | -22.6% |
| Tangible fixed assets | 22/27 | €76,700 | €59,338 | -€17,361 | -22.6% |
| Land and buildings | 22 | €11,196 | €6,023 | -€5,173 | -46.2% |
| Plant, machinery and equipment | 23 | €65,504 | €46,252 | -€19,252 | -29.4% |
| Furniture and vehicles | 24 | - | €7,063 | +€7,063 | |
| Current assets | 29/58 | €349,006 | €353,107 | +€4,100 | +1.2% |
| Amounts receivable within one year | 40/41 | €24,220 | - | -€24,220 | |
| Trade receivables | 40 | €229 | - | -€229 | |
| Other amounts receivable | 41 | €23,991 | - | -€23,991 | |
| Cash at bank and in hand | 54/58 | €315,431 | €351,292 | +€35,861 | +11.4% |
| Deferred charges and accrued income | 490/1 | €9,355 | €1,814 | -€7,541 | -80.6% |
| Total equity and liabilities | 10/49 | €425,706 | €412,445 | -€13,261 | -3.1% |
| Equity | 10/15 | €332,316 | €239,048 | -€93,267 | -28.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €313,360 | €220,360 | -€93,000 | -29.7% |
| Distributable reserves | 133 | €313,360 | €220,360 | -€93,000 | -29.7% |
| Profit (loss) carried forward | 14 | €356 | €88 | -€267 | -75.1% |
| Amounts payable | 17/49 | €93,390 | €173,396 | +€80,006 | +85.7% |
| Amounts payable after more than one year | 17 | €9,673 | €2,512 | -€7,162 | -74.0% |
| Financial debts | 170/4 | €9,673 | €2,512 | -€7,162 | -74.0% |
| Amounts payable within one year | 42/48 | €83,717 | €170,885 | +€87,168 | +104% |
| Financial debts | 43 | €10,092 | €7,162 | -€2,930 | -29.0% |
| Credit institutions | 430/8 | €10,092 | €7,162 | -€2,930 | -29.0% |
| Trade debts | 44 | €2,560 | €3,510 | +€950 | +37.1% |
| Suppliers | 440/4 | €2,560 | €3,510 | +€950 | +37.1% |
| Taxes, remuneration and social security | 45 | €27,965 | €10,558 | -€17,408 | -62.2% |
| Taxes | 450/3 | €20,502 | €747 | -€19,755 | -96.4% |
| Remuneration and social security | 454/9 | €7,463 | €9,811 | +€2,347 | +31.5% |
| Other amounts payable | 47/48 | €43,100 | €149,656 | +€106,556 | +247% |
| Remuneration, social security and pensions | 62 | €37,548 | €34,809 | -€2,739 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,077 | €29,216 | +€2,139 | +7.9% |
| Other operating charges | 640/8 | €1,966 | €1,963 | -€2 | -0.1% |
| Gross operating margin | 9900 | €135,439 | €139,933 | +€4,493 | +3.3% |
| Operating profit (loss) | 9901 | €68,849 | €73,943 | +€5,095 | +7.4% |
| Financial income | 75/76B | €2,332 | €1,814 | -€518 | -22.2% |
| Recurring financial income | 75 | €2,332 | €1,814 | -€518 | -22.2% |
| Financial charges | 65/66B | €1,962 | €1,825 | -€137 | -7.0% |
| Recurring financial charges | 65 | €1,962 | €1,825 | -€137 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €69,219 | €73,932 | +€4,713 | +6.8% |
| Income taxes | 67/77 | €19,369 | €20,653 | +€1,284 | +6.6% |
| Profit (loss) for the period | 9904 | €49,850 | €53,279 | +€3,430 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,850 | €53,279 | +€3,430 | +6.9% |
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 14 October 2026 via checked.be.