SEROEN: 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.
SEROEN
Largest movements
- Receivables within one year +€11,942
up €11,942 (+889.4%), from €1,343 to €13,285
of which Other amounts receivable: +€8,490
- Cash -€2,543
down €2,543 (-22.8%), from €11,175 to €8,632
mainly Receivables within one year (-€11,942) and Investment in fixed assets (net) (-€572)
- Tangible fixed assets -€1,469
down €1,469 (-64.1%), from €2,292 to €822
- Deferred charges and accrued income -€261
down €261 (-100.0%), from €261 to €0
- Profit (loss) carried forward +€7,971
up €7,971 (+128.2%), from €6,218 to €14,189
- Trade debts -€358
down €358 (-17.1%), from €2,089 to €1,731
- Gross operating margin +€3,267
up €3,267 (+29.8%), from €10,972 to €14,239
- Other operating charges +€1,360
up €1,360 (+353.8%), from €384 to €1,744
- Depreciation -€585
down €585 (-21.8%), from €2,682 to €2,097
- Taxes +€538
up €538 (+32.5%), from €1,657 to €2,195
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 | €15,126 | €22,739 | +€7,613 | +50.3% |
| Fixed assets | 21/28 | €2,347 | €822 | -€1,525 | -65.0% |
| Tangible fixed assets | 22/27 | €2,292 | €822 | -€1,469 | -64.1% |
| Furniture and vehicles | 24 | €2,292 | €822 | -€1,469 | -64.1% |
| Financial fixed assets | 28 | €56 | €0 | -€56 | -100.0% |
| Current assets | 29/58 | €12,779 | €21,917 | +€9,138 | +71.5% |
| Amounts receivable within one year | 40/41 | €1,343 | €13,285 | +€11,942 | +889.4% |
| Trade receivables | 40 | €0 | €3,452 | +€3,452 | |
| Other amounts receivable | 41 | €1,343 | €9,833 | +€8,490 | +632.3% |
| Cash at bank and in hand | 54/58 | €11,175 | €8,632 | -€2,543 | -22.8% |
| Deferred charges and accrued income | 490/1 | €261 | €0 | -€261 | -100.0% |
| Total equity and liabilities | 10/49 | €15,126 | €22,739 | +€7,613 | +50.3% |
| Equity | 10/15 | €9,218 | €17,189 | +€7,971 | +86.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,218 | €14,189 | +€7,971 | +128.2% |
| Amounts payable | 17/49 | €5,909 | €5,551 | -€358 | -6.1% |
| Amounts payable within one year | 42/48 | €5,909 | €5,551 | -€358 | -6.1% |
| Trade debts | 44 | €2,089 | €1,731 | -€358 | -17.1% |
| Suppliers | 440/4 | €2,089 | €1,731 | -€358 | -17.1% |
| Taxes, remuneration and social security | 45 | €3,820 | €3,820 | = | 0.0% |
| Taxes | 450/3 | €1,200 | €1,200 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,620 | €2,620 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,682 | €2,097 | -€585 | -21.8% |
| Other operating charges | 640/8 | €384 | €1,744 | +€1,360 | +353.8% |
| Gross operating margin | 9900 | €10,972 | €14,239 | +€3,267 | +29.8% |
| Operating profit (loss) | 9901 | €7,906 | €10,397 | +€2,492 | +31.5% |
| Financial income | 75/76B | €115 | €25 | -€90 | -78.3% |
| Recurring financial income | 75 | €115 | €25 | -€90 | -78.3% |
| Financial charges | 65/66B | €146 | €256 | +€110 | +75.8% |
| Recurring financial charges | 65 | €146 | €256 | +€110 | +75.8% |
| Profit (loss) for the period before taxes | 9903 | €7,875 | €10,166 | +€2,291 | +29.1% |
| Income taxes | 67/77 | €1,657 | €2,195 | +€538 | +32.5% |
| Profit (loss) for the period | 9904 | €6,218 | €7,971 | +€1,753 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,218 | €7,971 | +€1,753 | +28.2% |
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 30 September 2026 via checked.be.