SERRIEZ: 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.
SERRIEZ
Largest movements
- Cash +€467,790
up €467,790 (+73.6%), from €635,174 to €1.1m
mainly Short-term financial debts (+€284,990) and Receivables within one year (+€282,138)
- Receivables within one year -€282,138
down €282,138 (-27.2%), from €1.0m to €755,727
of which Other amounts receivable: -€365,414
- Stocks and contracts +€220,135
up €220,135 (+7.7%), from €2.9m to €3.1m
- Tangible fixed assets -€166,397
down €166,397 (-31.3%), from €531,818 to €365,421
of which Land and buildings: -€119,318
- Deferred charges and accrued income -€54,384
down €54,384 (-37.8%), from €143,884 to €89,500
- Short-term financial debts +€284,990
up €284,990 (+9.5%), from €3.0m to €3.3m
- Advances received +€157,126
up €157,126 (+73.9%), from €212,716 to €369,842
- Other debts -€148,392
down €148,392 (-36.3%), from €408,392 to €260,000
- Profit (loss) carried forward -€92,843
down €92,843 (-12.7%), from €728,730 to €635,887
- Debts after one year -€66,087
down €66,087 (-18.7%), from €353,698 to €287,611
- Gross operating margin +€101,053
up €101,053 (+6.2%), from €1.6m to €1.7m
- Staff costs +€78,755
up €78,755 (+8.0%), from €988,821 to €1.1m
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 | €5,204,007 | €5,389,013 | +€185,006 | +3.6% |
| Fixed assets | 21/28 | €532,411 | €366,014 | -€166,397 | -31.3% |
| Tangible fixed assets | 22/27 | €531,818 | €365,421 | -€166,397 | -31.3% |
| Land and buildings | 22 | €119,318 | €0 | -€119,318 | -100.0% |
| Plant, machinery and equipment | 23 | €245,415 | €242,274 | -€3,141 | -1.3% |
| Furniture and vehicles | 24 | €49,560 | €36,775 | -€12,785 | -25.8% |
| Leasing and similar rights | 25 | €117,524 | €86,372 | -€31,152 | -26.5% |
| Financial fixed assets | 28 | €593 | €593 | = | 0.0% |
| Current assets | 29/58 | €4,671,596 | €5,022,999 | +€351,403 | +7.5% |
| Stocks and contracts in progress | 3 | €2,854,672 | €3,074,807 | +€220,135 | +7.7% |
| Stocks | 30/36 | €2,854,672 | €3,074,807 | +€220,135 | +7.7% |
| Amounts receivable within one year | 40/41 | €1,037,865 | €755,727 | -€282,138 | -27.2% |
| Trade receivables | 40 | €353,796 | €437,072 | +€83,276 | +23.5% |
| Other amounts receivable | 41 | €684,069 | €318,654 | -€365,414 | -53.4% |
| Cash at bank and in hand | 54/58 | €635,174 | €1,102,965 | +€467,790 | +73.6% |
| Deferred charges and accrued income | 490/1 | €143,884 | €89,500 | -€54,384 | -37.8% |
| Total equity and liabilities | 10/49 | €5,204,007 | €5,389,013 | +€185,006 | +3.6% |
| Equity | 10/15 | €910,855 | €796,920 | -€113,935 | -12.5% |
| Contributions | 10/11 | €160,000 | €141,470 | -€18,530 | -11.6% |
| Reserves | 13 | €22,125 | €19,563 | -€2,562 | -11.6% |
| Distributable reserves | 133 | €22,125 | €19,563 | -€2,562 | -11.6% |
| Profit (loss) carried forward | 14 | €728,730 | €635,887 | -€92,843 | -12.7% |
| Amounts payable | 17/49 | €4,293,152 | €4,592,093 | +€298,941 | +7.0% |
| Amounts payable after more than one year | 17 | €353,698 | €287,611 | -€66,087 | -18.7% |
| Financial debts | 170/4 | €353,698 | €287,611 | -€66,087 | -18.7% |
| Amounts payable within one year | 42/48 | €3,939,454 | €4,304,482 | +€365,028 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €60,078 | €64,405 | +€4,328 | +7.2% |
| Financial debts | 43 | €2,992,172 | €3,277,161 | +€284,990 | +9.5% |
| Credit institutions | 430/8 | €2,992,172 | €3,277,161 | +€284,990 | +9.5% |
| Trade debts | 44 | €89,528 | €94,721 | +€5,193 | +5.8% |
| Suppliers | 440/4 | €89,528 | €94,721 | +€5,193 | +5.8% |
| Advances received on contracts in progress | 46 | €212,716 | €369,842 | +€157,126 | +73.9% |
| Taxes, remuneration and social security | 45 | €176,569 | €238,352 | +€61,783 | +35.0% |
| Taxes | 450/3 | €29,765 | €69,197 | +€39,432 | +132.5% |
| Remuneration and social security | 454/9 | €146,804 | €169,155 | +€22,351 | +15.2% |
| Other amounts payable | 47/48 | €408,392 | €260,000 | -€148,392 | -36.3% |
| Non-recurring operating income | 76A | €3,208 | €0 | -€3,208 | -100.0% |
| Remuneration, social security and pensions | 62 | €988,821 | €1,067,576 | +€78,755 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,145 | €90,633 | -€4,512 | -4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,305 | €9,750 | -€3,555 | -26.7% |
| Other operating charges | 640/8 | €30,468 | €24,898 | -€5,570 | -18.3% |
| Non-recurring operating charges | 66A | €42,221 | €52,990 | +€10,769 | +25.5% |
| Gross operating margin | 9900 | €1,629,855 | €1,730,908 | +€101,053 | +6.2% |
| Operating profit (loss) | 9901 | €459,895 | €485,061 | +€25,166 | +5.5% |
| Financial income | 75/76B | €525 | €137 | -€388 | -74.0% |
| Recurring financial income | 75 | €525 | €137 | -€388 | -74.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €114,587 | €118,453 | +€3,866 | +3.4% |
| Recurring financial charges | 65 | €114,587 | €114,686 | +€99 | +0.1% |
| Non-recurring financial charges | 66B | - | €3,767 | +€3,767 | |
| Profit (loss) for the period before taxes | 9903 | €345,833 | €366,745 | +€20,912 | +6.0% |
| Income taxes | 67/77 | €100,643 | €107,478 | +€6,835 | +6.8% |
| Profit (loss) for the period | 9904 | €245,190 | €259,267 | +€14,077 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €245,190 | €259,267 | +€14,077 | +5.7% |
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.