SERRIEUS: 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.
SERRIEUS
Largest movements
- Tangible fixed assets -€20,503
down €20,503 (-27.0%), from €75,981 to €55,478
of which Furniture and vehicles: -€18,502
- Receivables within one year -€8,331
down €8,331 (-61.2%), from €13,610 to €5,279
of which Trade receivables: -€8,325
- Cash +€2,480
up €2,480 (+19.9%), from €12,481 to €14,960
mainly Depreciation (+€20,503) and Current portion of long-term debt (+€11,147)
- Deferred charges and accrued income +€1,650
new in 2025: €1,650
- Debts after one year -€21,957
down €21,957 (-44.8%), from €48,999 to €27,042
- Profit (loss) carried forward -€16,118
down €16,118 (-12.6%), from -€127,509 to -€143,627
- Reserves -€12,359
down €12,359 (-52.0%), from €23,759 to €11,400
- Current portion of long-term debt +€11,147
new in 2025: €11,147
- Tax, wage and social debts +€8,598
up €8,598 (+8411.9%), from €102 to €8,700
of which Remuneration and social security: +€8,600
- Gross operating margin +€36,885
up €36,885 (+85.4%), from -€43,190 to -€6,305
- Depreciation +€10,848
up €10,848 (+112.4%), from €9,655 to €20,503
- Other operating charges -€1,966
down €1,966 (-69.3%), from €2,837 to €871
- Financial charges +€710
up €710 (+127.2%), from €558 to €1,268
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 | €102,072 | €77,368 | -€24,704 | -24.2% |
| Fixed assets | 21/28 | €75,981 | €55,478 | -€20,503 | -27.0% |
| Tangible fixed assets | 22/27 | €75,981 | €55,478 | -€20,503 | -27.0% |
| Land and buildings | 22 | €3,656 | €3,269 | -€387 | -10.6% |
| Plant, machinery and equipment | 23 | €3,887 | €2,273 | -€1,614 | -41.5% |
| Furniture and vehicles | 24 | €68,438 | €49,936 | -€18,502 | -27.0% |
| Current assets | 29/58 | €26,091 | €21,890 | -€4,201 | -16.1% |
| Amounts receivable within one year | 40/41 | €13,610 | €5,279 | -€8,331 | -61.2% |
| Trade receivables | 40 | €12,525 | €4,200 | -€8,325 | -66.5% |
| Other amounts receivable | 41 | €1,085 | €1,079 | -€6 | -0.6% |
| Cash at bank and in hand | 54/58 | €12,481 | €14,960 | +€2,480 | +19.9% |
| Deferred charges and accrued income | 490/1 | - | €1,650 | +€1,650 | |
| Total equity and liabilities | 10/49 | €102,072 | €77,368 | -€24,704 | -24.2% |
| Equity | 10/15 | €14,850 | -€13,627 | -€28,477 | |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €23,759 | €11,400 | -€12,359 | -52.0% |
| Distributable reserves | 133 | €23,759 | €11,400 | -€12,359 | -52.0% |
| Profit (loss) carried forward | 14 | -€127,509 | -€143,627 | -€16,118 | -12.6% |
| Amounts payable | 17/49 | €87,222 | €90,994 | +€3,773 | +4.3% |
| Amounts payable after more than one year | 17 | €48,999 | €27,042 | -€21,957 | -44.8% |
| Financial debts | 170/4 | €48,999 | €27,042 | -€21,957 | -44.8% |
| Amounts payable within one year | 42/48 | €38,081 | €63,952 | +€25,871 | +67.9% |
| Current portion of amounts payable after more than one year | 42 | - | €11,147 | +€11,147 | |
| Trade debts | 44 | €672 | €1,066 | +€394 | +58.5% |
| Suppliers | 440/4 | €672 | €1,066 | +€394 | +58.5% |
| Taxes, remuneration and social security | 45 | €102 | €8,700 | +€8,598 | +8411.9% |
| Taxes | 450/3 | €102 | €100 | -€2 | -2.1% |
| Remuneration and social security | 454/9 | - | €8,600 | +€8,600 | |
| Other amounts payable | 47/48 | €37,307 | €43,039 | +€5,732 | +15.4% |
| Accrued charges and deferred income | 492/3 | €141 | - | -€141 | |
| Remuneration, social security and pensions | 62 | €299 | - | -€299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,655 | €20,503 | +€10,848 | +112.4% |
| Other operating charges | 640/8 | €2,837 | €871 | -€1,966 | -69.3% |
| Gross operating margin | 9900 | -€43,190 | -€6,305 | +€36,885 | +85.4% |
| Operating profit (loss) | 9901 | -€55,981 | -€27,679 | +€28,302 | +50.6% |
| Financial income | 75/76B | €69 | €469 | +€400 | +578.9% |
| Recurring financial income | 75 | €69 | €469 | +€400 | +578.9% |
| Financial charges | 65/66B | €558 | €1,268 | +€710 | +127.2% |
| Recurring financial charges | 65 | €558 | €1,268 | +€710 | +127.2% |
| Profit (loss) for the period before taxes | 9903 | -€56,469 | -€28,477 | +€27,992 | +49.6% |
| Profit (loss) for the period | 9904 | -€56,469 | -€28,477 | +€27,992 | +49.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,469 | -€28,477 | +€27,992 | +49.6% |
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 28 September 2026 via checked.be.