SERPENTIS: 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.
SERPENTIS
Largest movements
- Receivables within one year -€99,356
down €99,356 (-83.7%), from €118,775 to €19,419
of which Other amounts receivable: -€96,878
- Cash +€87,317
up €87,317 (+628.1%), from €13,901 to €101,217
mainly Receivables within one year (+€99,356) and Short-term financial debts (+€68,548)
- Tangible fixed assets +€75,830
up €75,830 (+29.5%), from €256,699 to €332,529
of which Land and buildings: +€44,632
- Short-term financial debts +€68,548
new in 2025: €68,548
- Other debts -€28,418
down €28,418 (-39.6%), from €71,719 to €43,301
- Tax, wage and social debts +€27,731
up €27,731 (+116.9%), from €23,725 to €51,455
of which Taxes: +€22,950
- Debts after one year -€19,783
down €19,783 (-9.8%), from €201,408 to €181,624
- Trade debts +€15,532
up €15,532 (+98.2%), from €15,812 to €31,344
- Gross operating margin -€51,319
down €51,319 (-49.2%), from €104,366 to €53,047
- Other operating charges +€11,939
up €11,939 (+403.0%), from €2,962 to €14,902
- Taxes -€4,231
down €4,231 (-33.3%), from €12,714 to €8,482
- Financial income -€4,102
down €4,102 (-100.0%), from €4,102 to €0
- Financial charges +€1,527
up €1,527 (+27.0%), from €5,653 to €7,180
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €391,417 | €458,413 | +€66,996 | +17.1% |
| Fixed assets | 21/28 | €258,741 | €333,530 | +€74,788 | +28.9% |
| Intangible fixed assets | 21 | €1,792 | €1,001 | -€792 | -44.2% |
| Tangible fixed assets | 22/27 | €256,699 | €332,529 | +€75,830 | +29.5% |
| Land and buildings | 22 | €239,113 | €283,744 | +€44,632 | +18.7% |
| Plant, machinery and equipment | 23 | €17,586 | €21,348 | +€3,761 | +21.4% |
| Furniture and vehicles | 24 | - | €18,578 | +€18,578 | |
| Other tangible fixed assets | 26 | - | €6,860 | +€6,860 | |
| Assets under construction and advance payments | 27 | - | €2,000 | +€2,000 | |
| Financial fixed assets | 28 | €250 | - | -€250 | |
| Current assets | 29/58 | €132,676 | €124,883 | -€7,793 | -5.9% |
| Amounts receivable within one year | 40/41 | €118,775 | €19,419 | -€99,356 | -83.7% |
| Trade receivables | 40 | €19,241 | €16,763 | -€2,478 | -12.9% |
| Other amounts receivable | 41 | €99,534 | €2,657 | -€96,878 | -97.3% |
| Cash at bank and in hand | 54/58 | €13,901 | €101,217 | +€87,317 | +628.1% |
| Deferred charges and accrued income | 490/1 | - | €4,247 | +€4,247 | |
| Total equity and liabilities | 10/49 | €391,417 | €458,413 | +€66,996 | +17.1% |
| Equity | 10/15 | €47,036 | €59,389 | +€12,353 | +26.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,436 | €40,789 | +€12,353 | +43.4% |
| Distributable reserves | 133 | €28,436 | €40,789 | +€12,353 | +43.4% |
| Amounts payable | 17/49 | €344,381 | €399,023 | +€54,643 | +15.9% |
| Amounts payable after more than one year | 17 | €201,408 | €181,624 | -€19,783 | -9.8% |
| Financial debts | 170/4 | €201,408 | €181,624 | -€19,783 | -9.8% |
| Amounts payable within one year | 42/48 | €136,217 | €217,399 | +€81,182 | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €24,961 | €20,546 | -€4,415 | -17.7% |
| Financial debts | 43 | - | €68,548 | +€68,548 | |
| Credit institutions | 430/8 | - | €68,548 | +€68,548 | |
| Trade debts | 44 | €15,812 | €31,344 | +€15,532 | +98.2% |
| Suppliers | 440/4 | €15,812 | €31,344 | +€15,532 | +98.2% |
| Advances received on contracts in progress | 46 | - | €2,205 | +€2,205 | |
| Taxes, remuneration and social security | 45 | €23,725 | €51,455 | +€27,731 | +116.9% |
| Taxes | 450/3 | €23,725 | €46,675 | +€22,950 | +96.7% |
| Remuneration and social security | 454/9 | - | €4,780 | +€4,780 | |
| Other amounts payable | 47/48 | €71,719 | €43,301 | -€28,418 | -39.6% |
| Accrued charges and deferred income | 492/3 | €6,756 | - | -€6,756 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,549 | €10,130 | +€581 | +6.1% |
| Other operating charges | 640/8 | €2,962 | €14,902 | +€11,939 | +403.0% |
| Gross operating margin | 9900 | €104,366 | €53,047 | -€51,319 | -49.2% |
| Operating profit (loss) | 9901 | €91,854 | €28,015 | -€63,839 | -69.5% |
| Financial income | 75/76B | €4,102 | €0 | -€4,102 | -100.0% |
| Recurring financial income | 75 | €4,102 | €0 | -€4,102 | -100.0% |
| Financial charges | 65/66B | €5,653 | €7,180 | +€1,527 | +27.0% |
| Recurring financial charges | 65 | €5,653 | €7,180 | +€1,527 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €90,303 | €20,836 | -€69,468 | -76.9% |
| Income taxes | 67/77 | €12,714 | €8,482 | -€4,231 | -33.3% |
| Profit (loss) for the period | 9904 | €77,590 | €12,353 | -€65,237 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €77,590 | €12,353 | -€65,237 | -84.1% |
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 10 October 2026 via checked.be.