Serneels Bikes: what changed
What changed
Serneels Bikes
NACE 47.830, Retail sale of motorcycles and motorcycle parts and accessories
filed annual accounts (NBB)
Net result for the year
€361,564
2024 · €332,596+€28,968
Equity
€2.1m
2024 · €1.8m+€361,564
Cash
€255,449
2024 · €328,134-€72,685
Balance sheet total
€6.1m
2024 · €5.9m+€253,526
Largest movements
Assets
- Stocks and contracts +€392,725
up €392,725 (+13.9%), from €2.8m to €3.2m
- Cash -€72,685
down €72,685 (-22.2%), from €328,134 to €255,449
mainly Stocks and contracts (-€392,725) and Debts after one year (-€294,340)
Equity and liabilities
- Reserves +€361,564
up €361,564 (+21.6%), from €1.7m to €2.0m
- Debts after one year -€294,340
down €294,340 (-15.5%), from €1.9m to €1.6m
- Short-term financial debts +€100,000
up €100,000 (+33.3%), from €300,000 to €400,000
Income statement
- Gross operating margin +€68,673
up €68,673 (+5.4%), from €1.3m to €1.3m
- Financial charges +€30,825
up €30,825 (+48.6%), from €63,481 to €94,306
- Staff costs -€18,449
down €18,449 (-3.0%), from €612,901 to €594,452
- Taxes +€14,173
up €14,173 (+9.3%), from €152,699 to €166,871
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€332,596
Gross operating margin
+€68,673
Staff costs
+€18,449
Depreciation
-€6,217
Other operating charges
-€7,148
Financial income
+€209
Financial charges
-€30,825
Taxes
-€14,173
Result 2025
€361,564
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€185,810
Investment
-€44,960
Financing
-€213,534
Cash 2024
€328,134
From operations (derived)
+€185,810
Net result for the year
+€361,564
Depreciation
+€97,151
Stocks and contracts
-€392,725
Receivables within one year
+€14,310
Deferred charges and accrued income
+€13
Trade debts
+€53,096
Tax, wage and social debts
+€22,687
Other debts
-€10,787
Accrued charges and deferred income
+€40,500
Investment (derived)
-€44,960
Investment in fixed assets (net)
-€44,960
Financing
-€213,534
Debts after one year
-€294,340
Current portion of long-term debt
-€19,194
Short-term financial debts
+€100,000
Cash 2025
€255,449
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,891,579 | €6,145,105 | +€253,526 | +4.3% |
| Fixed assets | 21/28 | €2,450,457 | €2,398,266 | -€52,191 | -2.1% |
| Tangible fixed assets | 22/27 | €1,249,707 | €1,197,516 | -€52,191 | -4.2% |
| Land and buildings | 22 | €1,048,303 | €997,573 | -€50,730 | -4.8% |
| Plant, machinery and equipment | 23 | €134,185 | €114,064 | -€20,121 | -15.0% |
| Furniture and vehicles | 24 | €67,219 | €85,879 | +€18,660 | +27.8% |
| Financial fixed assets | 28 | €1,200,750 | €1,200,750 | = | 0.0% |
| Current assets | 29/58 | €3,441,122 | €3,746,839 | +€305,718 | +8.9% |
| Stocks and contracts in progress | 3 | €2,832,989 | €3,225,714 | +€392,725 | +13.9% |
| Stocks | 30/36 | €2,832,989 | €3,225,714 | +€392,725 | +13.9% |
| Amounts receivable within one year | 40/41 | €144,340 | €130,030 | -€14,310 | -9.9% |
| Trade receivables | 40 | €139,130 | €41,554 | -€97,576 | -70.1% |
| Other amounts receivable | 41 | €5,210 | €88,476 | +€83,266 | +1,598% |
| Cash at bank and in hand | 54/58 | €328,134 | €255,449 | -€72,685 | -22.2% |
| Deferred charges and accrued income | 490/1 | €135,659 | €135,647 | -€13 | 0.0% |
| Total equity and liabilities | 10/49 | €5,891,579 | €6,145,105 | +€253,526 | +4.3% |
| Equity | 10/15 | €1,785,108 | €2,146,672 | +€361,564 | +20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,677,192 | €2,038,756 | +€361,564 | +21.6% |
| Distributable reserves | 133 | €1,677,192 | €2,038,756 | +€361,564 | +21.6% |
| Profit (loss) carried forward | 14 | €101,716 | €101,716 | = | 0.0% |
| Amounts payable | 17/49 | €4,106,471 | €3,998,433 | -€108,038 | -2.6% |
| Amounts payable after more than one year | 17 | €1,896,935 | €1,602,594 | -€294,340 | -15.5% |
| Financial debts | 170/4 | €1,896,935 | €1,602,594 | -€294,340 | -15.5% |
| Amounts payable within one year | 42/48 | €2,209,536 | €2,355,339 | +€145,803 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €331,034 | €311,840 | -€19,194 | -5.8% |
| Financial debts | 43 | €300,000 | €400,000 | +€100,000 | +33.3% |
| Credit institutions | 430/8 | €300,000 | €400,000 | +€100,000 | +33.3% |
| Trade debts | 44 | €1,306,697 | €1,359,792 | +€53,096 | +4.1% |
| Suppliers | 440/4 | €1,306,697 | €1,359,792 | +€53,096 | +4.1% |
| Taxes, remuneration and social security | 45 | €194,213 | €216,900 | +€22,687 | +11.7% |
| Taxes | 450/3 | €171,656 | €191,322 | +€19,666 | +11.5% |
| Remuneration and social security | 454/9 | €22,557 | €25,579 | +€3,021 | +13.4% |
| Other amounts payable | 47/48 | €77,592 | €66,806 | -€10,787 | -13.9% |
| Accrued charges and deferred income | 492/3 | - | €40,500 | +€40,500 | |
| Remuneration, social security and pensions | 62 | €612,901 | €594,452 | -€18,449 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,934 | €97,151 | +€6,217 | +6.8% |
| Other operating charges | 640/8 | €16,067 | €23,215 | +€7,148 | +44.5% |
| Gross operating margin | 9900 | €1,268,677 | €1,337,350 | +€68,673 | +5.4% |
| Operating profit (loss) | 9901 | €548,775 | €622,532 | +€73,757 | +13.4% |
| Financial income | 75/76B | - | €209 | +€209 | |
| Recurring financial income | 75 | - | €209 | +€209 | |
| Financial charges | 65/66B | €63,481 | €94,306 | +€30,825 | +48.6% |
| Recurring financial charges | 65 | €63,481 | €94,306 | +€30,825 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €485,294 | €528,435 | +€43,141 | +8.9% |
| Income taxes | 67/77 | €152,699 | €166,871 | +€14,173 | +9.3% |
| Profit (loss) for the period | 9904 | €332,596 | €361,564 | +€28,968 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €332,596 | €361,564 | +€28,968 | +8.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.