SEROG: 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.
SEROG
Largest movements
- Cash +€5,446
up €5,446 (+164%), from €3,318 to €8,764
mainly Net result for the year (+€12,848) and Depreciation (+€4,544)
- Tangible fixed assets -€4,544
down €4,544 (-28.6%), from €15,874 to €11,330
of which Furniture and vehicles: -€2,279
- Receivables within one year -€2,121
down €2,121 (-23.2%), from €9,155 to €7,034
of which Trade receivables: -€5,482
- Stocks and contracts +€754
up €754 (+4.6%), from €16,393 to €17,147
- Profit (loss) carried forward +€12,848
up €12,848 (+40.2%), from -€31,965 to -€19,117
- Tax, wage and social debts -€9,125
down €9,125 (-49.3%), from €18,507 to €9,382
of which Taxes: -€4,667
- Debts after one year -€5,311
down €5,311 (-43.0%), from €12,363 to €7,052
- Other debts -€2,308
down €2,308 (-24.9%), from €9,250 to €6,942
- Trade debts +€2,190
up €2,190 (+22.8%), from €9,619 to €11,809
- Staff costs +€18,346
up €18,346 (+16.4%), from €111,800 to €130,146
- Gross operating margin +€15,777
up €15,777 (+11.3%), from €139,589 to €155,367
- Other operating charges -€3,395
down €3,395 (-68.5%), from €4,959 to €1,564
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 | €45,952 | €45,840 | -€112 | -0.2% |
| Fixed assets | 21/28 | €17,049 | €12,505 | -€4,544 | -26.7% |
| Tangible fixed assets | 22/27 | €15,874 | €11,330 | -€4,544 | -28.6% |
| Plant, machinery and equipment | 23 | €4,285 | €2,531 | -€1,754 | -40.9% |
| Furniture and vehicles | 24 | €10,346 | €8,066 | -€2,279 | -22.0% |
| Other tangible fixed assets | 26 | €1,243 | €733 | -€510 | -41.0% |
| Financial fixed assets | 28 | €1,175 | €1,175 | = | 0.0% |
| Current assets | 29/58 | €28,903 | €33,334 | +€4,431 | +15.3% |
| Stocks and contracts in progress | 3 | €16,393 | €17,147 | +€754 | +4.6% |
| Stocks | 30/36 | €16,393 | €17,147 | +€754 | +4.6% |
| Amounts receivable within one year | 40/41 | €9,155 | €7,034 | -€2,121 | -23.2% |
| Trade receivables | 40 | €6,333 | €851 | -€5,482 | -86.6% |
| Other amounts receivable | 41 | €2,822 | €6,183 | +€3,361 | +119% |
| Cash at bank and in hand | 54/58 | €3,318 | €8,764 | +€5,446 | +164% |
| Deferred charges and accrued income | 490/1 | €37 | €390 | +€353 | +941% |
| Total equity and liabilities | 10/49 | €45,952 | €45,840 | -€112 | -0.2% |
| Equity | 10/15 | -€11,505 | €1,343 | +€12,848 | |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,965 | -€19,117 | +€12,848 | +40.2% |
| Amounts payable | 17/49 | €57,457 | €44,497 | -€12,960 | -22.6% |
| Amounts payable after more than one year | 17 | €12,363 | €7,052 | -€5,311 | -43.0% |
| Financial debts | 170/4 | €12,363 | €7,052 | -€5,311 | -43.0% |
| Amounts payable within one year | 42/48 | €42,410 | €33,445 | -€8,965 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €5,034 | €5,311 | +€277 | +5.5% |
| Trade debts | 44 | €9,619 | €11,809 | +€2,190 | +22.8% |
| Suppliers | 440/4 | €9,619 | €11,809 | +€2,190 | +22.8% |
| Taxes, remuneration and social security | 45 | €18,507 | €9,382 | -€9,125 | -49.3% |
| Taxes | 450/3 | €8,638 | €3,970 | -€4,667 | -54.0% |
| Remuneration and social security | 454/9 | €9,870 | €5,412 | -€4,458 | -45.2% |
| Other amounts payable | 47/48 | €9,250 | €6,942 | -€2,308 | -24.9% |
| Accrued charges and deferred income | 492/3 | €2,683 | €4,000 | +€1,317 | +49.1% |
| Remuneration, social security and pensions | 62 | €111,800 | €130,146 | +€18,346 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,671 | €4,544 | +€872 | +23.8% |
| Other operating charges | 640/8 | €4,959 | €1,564 | -€3,395 | -68.5% |
| Gross operating margin | 9900 | €139,589 | €155,367 | +€15,777 | +11.3% |
| Operating profit (loss) | 9901 | €19,159 | €19,113 | -€46 | -0.2% |
| Financial income | 75/76B | €329 | €395 | +€66 | +20.0% |
| Recurring financial income | 75 | €329 | €395 | +€66 | +20.0% |
| Financial charges | 65/66B | €5,944 | €6,398 | +€455 | +7.7% |
| Recurring financial charges | 65 | €5,944 | €6,398 | +€455 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €13,545 | €13,110 | -€435 | -3.2% |
| Income taxes | 67/77 | €191 | €262 | +€71 | +37.1% |
| Profit (loss) for the period | 9904 | €13,353 | €12,848 | -€506 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,353 | €12,848 | -€506 | -3.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.