SERREPALEIS: 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.
SERREPALEIS
Largest movements
- Receivables within one year -€35,647
down €35,647 (-15.9%), from €224,215 to €188,568
of which Trade receivables: -€33,203
- Cash -€14,832
down €14,832 (-74.2%), from €19,996 to €5,164
mainly Net result for the year (-€78,510) and Trade debts (-€32,329)
- Tangible fixed assets -€14,188
down €14,188 (-39.2%), from €36,182 to €21,994
of which Plant, machinery and equipment: -€9,864
- Profit (loss) carried forward -€78,510
down €78,510 (-69.2%), from -€113,456 to -€191,966
- Other debts +€64,411
up €64,411 (+30.9%), from €208,541 to €272,952
- Trade debts -€32,329
down €32,329 (-51.2%), from €63,195 to €30,866
- Debts after one year -€21,220
down €21,220 (-100%), from €21,220 to €0
- Tax, wage and social debts +€14,722
up €14,722 (+628%), from €2,345 to €17,067
of which Taxes: +€11,578
- Gross operating margin -€42,315
down €42,315, from €27,922 to -€14,393
- Staff costs +€34,289
up €34,289, from -€324 to €33,965
- Depreciation -€1,656
down €1,656 (-8.1%), from €20,341 to €18,686
- Financial charges +€637
up €637 (+9.5%), from €6,726 to €7,364
- Other operating charges -€594
down €594 (-12.5%), from €4,752 to €4,157
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 | €355,910 | €291,471 | -€64,439 | -18.1% |
| Fixed assets | 21/28 | €111,682 | €97,494 | -€14,188 | -12.7% |
| Intangible fixed assets | 21 | €75,000 | €75,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €36,182 | €21,994 | -€14,188 | -39.2% |
| Land and buildings | 22 | €3,777 | €1,338 | -€2,438 | -64.6% |
| Plant, machinery and equipment | 23 | €28,576 | €18,712 | -€9,864 | -34.5% |
| Furniture and vehicles | 24 | €3,088 | €1,366 | -€1,722 | -55.8% |
| Other tangible fixed assets | 26 | €742 | €578 | -€164 | -22.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €244,228 | €193,977 | -€50,252 | -20.6% |
| Amounts receivable within one year | 40/41 | €224,215 | €188,568 | -€35,647 | -15.9% |
| Trade receivables | 40 | €34,304 | €1,101 | -€33,203 | -96.8% |
| Other amounts receivable | 41 | €189,911 | €187,468 | -€2,443 | -1.3% |
| Current investments | 50/53 | €18 | €0 | -€18 | -100% |
| Cash at bank and in hand | 54/58 | €19,996 | €5,164 | -€14,832 | -74.2% |
| Deferred charges and accrued income | 490/1 | €0 | €245 | +€245 | |
| Total equity and liabilities | 10/49 | €355,910 | €291,471 | -€64,439 | -18.1% |
| Equity | 10/15 | €27,875 | -€50,634 | -€78,510 | |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €17,332 | €17,332 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,937 | €4,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,456 | -€191,966 | -€78,510 | -69.2% |
| Amounts payable | 17/49 | €328,035 | €342,105 | +€14,071 | +4.3% |
| Amounts payable after more than one year | 17 | €21,220 | €0 | -€21,220 | -100% |
| Financial debts | 170/4 | €21,220 | €0 | -€21,220 | -100% |
| Amounts payable within one year | 42/48 | €306,815 | €342,105 | +€35,290 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €32,734 | €21,220 | -€11,514 | -35.2% |
| Trade debts | 44 | €63,195 | €30,866 | -€32,329 | -51.2% |
| Suppliers | 440/4 | €63,195 | €30,866 | -€32,329 | -51.2% |
| Taxes, remuneration and social security | 45 | €2,345 | €17,067 | +€14,722 | +628% |
| Taxes | 450/3 | €2,345 | €13,923 | +€11,578 | +494% |
| Remuneration and social security | 454/9 | - | €3,144 | +€3,144 | |
| Other amounts payable | 47/48 | €208,541 | €272,952 | +€64,411 | +30.9% |
| Remuneration, social security and pensions | 62 | -€324 | €33,965 | +€34,289 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,341 | €18,686 | -€1,656 | -8.1% |
| Other operating charges | 640/8 | €4,752 | €4,157 | -€594 | -12.5% |
| Gross operating margin | 9900 | €27,922 | -€14,393 | -€42,315 | |
| Operating profit (loss) | 9901 | €3,153 | -€71,202 | -€74,355 | |
| Financial income | 75/76B | €0 | €56 | +€56 | |
| Recurring financial income | 75 | €0 | €56 | +€56 | |
| Financial charges | 65/66B | €6,726 | €7,364 | +€637 | +9.5% |
| Recurring financial charges | 65 | €6,726 | €7,364 | +€637 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,573 | -€78,510 | -€74,936 | -2,097% |
| Profit (loss) for the period | 9904 | -€3,573 | -€78,510 | -€74,936 | -2,097% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,573 | -€78,510 | -€74,936 | -2,097% |
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 13 October 2026 via checked.be.