SERRAGRO: 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.
SERRAGRO
Largest movements
- Cash +€496,623
up €496,623 (+440.2%), from €112,827 to €609,449
mainly Other debts (+€539,655) and Net result for the year (+€439,743)
- Tangible fixed assets +€489,434
up €489,434 (+19.0%), from €2.6m to €3.1m
of which Plant, machinery and equipment: +€509,537
- Stocks and contracts +€92,475
up €92,475 (+146.7%), from €63,025 to €155,500
- Intangible fixed assets +€68,000
new in 2025: €68,000
- Other debts +€539,655
new in 2025: €539,655
- Reserves +€439,743
up €439,743 (+49.7%), from €883,978 to €1.3m
of which Distributable reserves: +€439,743
- Trade debts +€282,921
up €282,921 (+132.5%), from €213,532 to €496,453
- Debts after one year -€154,225
down €154,225 (-12.0%), from €1.3m to €1.1m
- Advances received -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Gross operating margin +€361,808
up €361,808 (+64.0%), from €565,715 to €927,523
- Taxes +€98,987
up €98,987 (+95.3%), from €103,855 to €202,841
- Depreciation +€13,902
up €13,902 (+6.9%), from €200,281 to €214,183
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 | €3,172,510 | €4,306,094 | +€1.1m | +35.7% |
| Fixed assets | 21/28 | €2,580,083 | €3,137,517 | +€557,434 | +21.6% |
| Intangible fixed assets | 21 | - | €68,000 | +€68,000 | |
| Tangible fixed assets | 22/27 | €2,580,083 | €3,069,517 | +€489,434 | +19.0% |
| Land and buildings | 22 | €2,370,002 | €2,351,075 | -€18,927 | -0.8% |
| Plant, machinery and equipment | 23 | €152,197 | €661,734 | +€509,537 | +334.8% |
| Furniture and vehicles | 24 | €57,884 | €56,707 | -€1,177 | -2.0% |
| Current assets | 29/58 | €592,427 | €1,168,577 | +€576,150 | +97.3% |
| Stocks and contracts in progress | 3 | €63,025 | €155,500 | +€92,475 | +146.7% |
| Stocks | 30/36 | €63,025 | €155,500 | +€92,475 | +146.7% |
| Amounts receivable within one year | 40/41 | €409,175 | €385,461 | -€23,715 | -5.8% |
| Trade receivables | 40 | €125,596 | €157,068 | +€31,472 | +25.1% |
| Other amounts receivable | 41 | €283,580 | €228,393 | -€55,187 | -19.5% |
| Cash at bank and in hand | 54/58 | €112,827 | €609,449 | +€496,623 | +440.2% |
| Deferred charges and accrued income | 490/1 | €7,400 | €18,167 | +€10,767 | +145.5% |
| Total equity and liabilities | 10/49 | €3,172,510 | €4,306,094 | +€1.1m | +35.7% |
| Equity | 10/15 | €1,283,978 | €1,723,721 | +€439,743 | +34.2% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €883,978 | €1,323,721 | +€439,743 | +49.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €883,978 | €1,323,721 | +€439,743 | +49.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,888,532 | €2,582,372 | +€693,840 | +36.7% |
| Amounts payable after more than one year | 17 | €1,283,021 | €1,128,796 | -€154,225 | -12.0% |
| Financial debts | 170/4 | €1,283,021 | €1,128,796 | -€154,225 | -12.0% |
| Amounts payable within one year | 42/48 | €605,511 | €1,453,576 | +€848,065 | +140.1% |
| Current portion of amounts payable after more than one year | 42 | €202,391 | €204,225 | +€1,833 | +0.9% |
| Financial debts | 43 | €66,825 | €131,923 | +€65,097 | +97.4% |
| Credit institutions | 430/8 | - | €131,923 | +€131,923 | |
| Other loans | 439 | €66,825 | €0 | -€66,825 | -100.0% |
| Trade debts | 44 | €213,532 | €496,453 | +€282,921 | +132.5% |
| Suppliers | 440/4 | €213,532 | €496,453 | +€282,921 | +132.5% |
| Advances received on contracts in progress | 46 | €100,000 | €0 | -€100,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €22,763 | €81,322 | +€58,558 | +257.2% |
| Taxes | 450/3 | €22,763 | €81,322 | +€58,558 | +257.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €539,655 | +€539,655 | |
| Remuneration, social security and pensions | 62 | €1,946 | €0 | -€1,946 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,281 | €214,183 | +€13,902 | +6.9% |
| Other operating charges | 640/8 | €12,804 | €12,206 | -€598 | -4.7% |
| Non-recurring operating charges | 66A | - | €32,010 | +€32,010 | |
| Gross operating margin | 9900 | €565,715 | €927,523 | +€361,808 | +64.0% |
| Operating profit (loss) | 9901 | €350,685 | €669,125 | +€318,440 | +90.8% |
| Financial income | 75/76B | €8,607 | €12,492 | +€3,886 | +45.1% |
| Recurring financial income | 75 | €8,607 | €12,492 | +€3,886 | +45.1% |
| Financial charges | 65/66B | €32,973 | €39,033 | +€6,060 | +18.4% |
| Recurring financial charges | 65 | €32,973 | €39,033 | +€6,060 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €326,319 | €642,584 | +€316,266 | +96.9% |
| Income taxes | 67/77 | €103,855 | €202,841 | +€98,987 | +95.3% |
| Profit (loss) for the period | 9904 | €222,464 | €439,743 | +€217,279 | +97.7% |
| Profit (loss) for the period to be appropriated | 9905 | €222,464 | €439,743 | +€217,279 | +97.7% |
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 5 October 2026 via checked.be.