SERNEELS: 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.
SERNEELS
Largest movements
- Receivables within one year +€5,358
up €5,358 (+25.5%), from €21,010 to €26,368
- Trade debts +€2,697
up €2,697 (+168.7%), from €1,598 to €4,295
- Gross operating margin -€3,907
down €3,907, from €1,210 to -€2,697
- Taxes +€346
up €346 (+95.1%), from €363 to €709
- Financial charges +€239
up €239 (+111.1%), from €215 to €454
- Other operating charges -€213
down €213 (-39.2%), from €542 to €330
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 | €241,011 | €246,368 | +€5,357 | +2.2% |
| Current assets | 29/58 | €241,011 | €246,368 | +€5,357 | +2.2% |
| Amounts receivable after more than one year | 29 | €220,000 | €220,000 | = | 0.0% |
| Other amounts receivable | 291 | €220,000 | €220,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,010 | €26,368 | +€5,358 | +25.5% |
| Other amounts receivable | 41 | €21,010 | €26,368 | +€5,358 | +25.5% |
| Cash at bank and in hand | 54/58 | €1 | €0 | -€1 | -100.0% |
| Total equity and liabilities | 10/49 | €241,011 | €246,368 | +€5,357 | +2.2% |
| Equity | 10/15 | €238,544 | €240,491 | +€1,947 | +0.8% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €67,746 | €67,746 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €64,646 | €64,646 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,798 | €141,744 | +€1,947 | +1.4% |
| Amounts payable | 17/49 | €2,467 | €5,878 | +€3,410 | +138.2% |
| Amounts payable within one year | 42/48 | €2,467 | €5,878 | +€3,410 | +138.2% |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €1,598 | €4,295 | +€2,697 | +168.7% |
| Suppliers | 440/4 | €1,598 | €4,295 | +€2,697 | +168.7% |
| Taxes, remuneration and social security | 45 | €869 | €1,578 | +€709 | +81.5% |
| Taxes | 450/3 | €869 | €1,578 | +€709 | +81.5% |
| Other operating charges | 640/8 | €542 | €330 | -€213 | -39.2% |
| Gross operating margin | 9900 | €1,210 | -€2,697 | -€3,907 | |
| Operating profit (loss) | 9901 | €668 | -€3,026 | -€3,694 | |
| Financial income | 75/76B | €6,123 | €6,136 | +€12 | +0.2% |
| Recurring financial income | 75 | €6,123 | €6,136 | +€12 | +0.2% |
| Financial charges | 65/66B | €215 | €454 | +€239 | +111.1% |
| Recurring financial charges | 65 | €215 | €454 | +€239 | +111.1% |
| Profit (loss) for the period before taxes | 9903 | €6,576 | €2,656 | -€3,920 | -59.6% |
| Income taxes | 67/77 | €363 | €709 | +€346 | +95.1% |
| Profit (loss) for the period | 9904 | €6,213 | €1,947 | -€4,266 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,213 | €1,947 | -€4,266 | -68.7% |
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 6 October 2026 via checked.be.