SERROCCO: 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.
SERROCCO
Largest movements
- Tangible fixed assets -€2,578
down €2,578 (-49.6%), from €5,201 to €2,622
of which Other tangible fixed assets: -€1,636
- Stocks and contracts +€1,821
up €1,821 (+25.9%), from €7,027 to €8,849
- Receivables within one year -€1,674
no longer reported in 2025 (was €1,674)
of which Other amounts receivable: -€1,374
- Cash +€1,603
up €1,603 (+25.1%), from €6,393 to €7,996
mainly Other debts (+€16,069) and Tax, wage and social debts (+€3,712)
- Deferred charges and accrued income +€721
up €721 (+21.1%), from €3,411 to €4,132
- Profit (loss) carried forward -€16,179
down €16,179 (-15.9%), from -€101,549 to -€117,728
- Other debts +€16,069
up €16,069 (+40.3%), from €39,905 to €55,974
- Trade debts -€3,729
down €3,729 (-31.7%), from €11,772 to €8,043
- Tax, wage and social debts +€3,712
up €3,712 (+46.9%), from €7,906 to €11,617
of which Remuneration and social security: +€2,954
- Gross operating margin +€46,850
up €46,850 (+189.7%), from €24,694 to €71,544
- Staff costs +€20,172
up €20,172 (+31.0%), from €65,140 to €85,311
- Financial income +€2,791
up €2,791 (+837.2%), from €333 to €3,124
- Depreciation -€1,590
down €1,590 (-38.1%), from €4,169 to €2,578
- Financial charges +€1,235
up €1,235 (+337.6%), from €366 to €1,601
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 | €23,706 | €23,599 | -€107 | -0.5% |
| Fixed assets | 21/28 | €5,201 | €2,622 | -€2,578 | -49.6% |
| Tangible fixed assets | 22/27 | €5,201 | €2,622 | -€2,578 | -49.6% |
| Plant, machinery and equipment | 23 | €1,723 | €780 | -€943 | -54.7% |
| Other tangible fixed assets | 26 | €3,478 | €1,842 | -€1,636 | -47.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €18,506 | €20,977 | +€2,471 | +13.4% |
| Stocks and contracts in progress | 3 | €7,027 | €8,849 | +€1,821 | +25.9% |
| Stocks | 30/36 | €7,027 | €8,849 | +€1,821 | +25.9% |
| Amounts receivable within one year | 40/41 | €1,674 | - | -€1,674 | |
| Trade receivables | 40 | €300 | - | -€300 | |
| Other amounts receivable | 41 | €1,374 | - | -€1,374 | |
| Cash at bank and in hand | 54/58 | €6,393 | €7,996 | +€1,603 | +25.1% |
| Deferred charges and accrued income | 490/1 | €3,411 | €4,132 | +€721 | +21.1% |
| Total equity and liabilities | 10/49 | €23,706 | €23,599 | -€107 | -0.5% |
| Equity | 10/15 | -€35,876 | -€52,055 | -€16,179 | -45.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €53,273 | €53,273 | = | 0.0% |
| Distributable reserves | 133 | €53,273 | €53,273 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,549 | -€117,728 | -€16,179 | -15.9% |
| Amounts payable | 17/49 | €59,583 | €75,654 | +€16,072 | +27.0% |
| Amounts payable within one year | 42/48 | €59,583 | €75,654 | +€16,072 | +27.0% |
| Financial debts | 43 | - | €19 | +€19 | |
| Other loans | 439 | - | €19 | +€19 | |
| Trade debts | 44 | €11,772 | €8,043 | -€3,729 | -31.7% |
| Suppliers | 440/4 | €11,772 | €8,043 | -€3,729 | -31.7% |
| Taxes, remuneration and social security | 45 | €7,906 | €11,617 | +€3,712 | +46.9% |
| Taxes | 450/3 | €2,117 | €2,876 | +€758 | +35.8% |
| Remuneration and social security | 454/9 | €5,788 | €8,742 | +€2,954 | +51.0% |
| Other amounts payable | 47/48 | €39,905 | €55,974 | +€16,069 | +40.3% |
| Remuneration, social security and pensions | 62 | €65,140 | €85,311 | +€20,172 | +31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,169 | €2,578 | -€1,590 | -38.1% |
| Other operating charges | 640/8 | €1,106 | €1,057 | -€49 | -4.4% |
| Gross operating margin | 9900 | €24,694 | €71,544 | +€46,850 | +189.7% |
| Operating profit (loss) | 9901 | -€45,719 | -€17,402 | +€28,317 | +61.9% |
| Financial income | 75/76B | €333 | €3,124 | +€2,791 | +837.2% |
| Recurring financial income | 75 | €333 | €3,124 | +€2,791 | +837.2% |
| Financial charges | 65/66B | €366 | €1,601 | +€1,235 | +337.6% |
| Recurring financial charges | 65 | €366 | €1,601 | +€1,235 | +337.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,752 | -€15,879 | +€29,873 | +65.3% |
| Income taxes | 67/77 | €293 | €300 | +€7 | +2.3% |
| Profit (loss) for the period | 9904 | -€46,045 | -€16,179 | +€29,866 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,045 | -€16,179 | +€29,866 | +64.9% |
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 11 October 2026 via checked.be.