SERNEELS - SMETS: 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.
SERNEELS - SMETS
Largest movements
- Tangible fixed assets +€9,401
up €9,401 (+16.1%), from €58,315 to €67,716
of which Land and buildings: +€9,775
- Cash -€3,243
down €3,243 (-69.5%), from €4,667 to €1,424
mainly Investment in fixed assets (net) (-€12,430)
- Other debts +€3,834
up €3,834 (+11.6%), from €33,195 to €37,030
- Profit (loss) carried forward +€2,323
up €2,323 (+4.5%), from -€52,065 to -€49,742
- Depreciation +€593
up €593 (+24.4%), from €2,435 to €3,029
- Gross operating margin -€255
down €255 (-3.3%), from €7,703 to €7,448
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 | €62,982 | €69,141 | +€6,159 | +9.8% |
| Fixed assets | 21/28 | €58,315 | €67,716 | +€9,401 | +16.1% |
| Tangible fixed assets | 22/27 | €58,315 | €67,716 | +€9,401 | +16.1% |
| Land and buildings | 22 | €55,850 | €65,624 | +€9,775 | +17.5% |
| Plant, machinery and equipment | 23 | €2,465 | €2,092 | -€373 | -15.1% |
| Current assets | 29/58 | €4,667 | €1,424 | -€3,243 | -69.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,667 | €1,424 | -€3,243 | -69.5% |
| Total equity and liabilities | 10/49 | €62,982 | €69,141 | +€6,159 | +9.8% |
| Equity | 10/15 | €29,740 | €32,063 | +€2,323 | +7.8% |
| Contributions | 10/11 | €81,805 | €81,805 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,065 | -€49,742 | +€2,323 | +4.5% |
| Amounts payable | 17/49 | €33,242 | €37,078 | +€3,835 | +11.5% |
| Amounts payable within one year | 42/48 | €33,195 | €37,030 | +€3,834 | +11.6% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €33,195 | €37,030 | +€3,834 | +11.6% |
| Accrued charges and deferred income | 492/3 | €47 | €48 | +€1 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,435 | €3,029 | +€593 | +24.4% |
| Other operating charges | 640/8 | €1,852 | €1,908 | +€56 | +3.0% |
| Gross operating margin | 9900 | €7,703 | €7,448 | -€255 | -3.3% |
| Operating profit (loss) | 9901 | €3,416 | €2,512 | -€905 | -26.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €187 | €188 | +€1 | +0.5% |
| Recurring financial charges | 65 | €187 | €188 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €3,229 | €2,323 | -€906 | -28.1% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100% |
| Profit (loss) for the period | 9904 | €3,229 | €2,323 | -€906 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,229 | €2,323 | -€906 | -28.1% |
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 28 October 2026 via checked.be.