SERRPA: 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.
SERRPA
Largest movements
- Cash +€74,800
up €74,800 (+19.6%), from €382,184 to €456,985
mainly Net result for the year (+€52,449) and Receivables within one year (+€10,810)
- Receivables within one year -€10,810
down €10,810 (-81.2%), from €13,305 to €2,495
of which Trade receivables: -€10,810
- Reserves +€52,449
up €52,449 (+20.1%), from €261,249 to €313,698
- Other debts +€6,195
up €6,195 (+13.4%), from €46,311 to €52,506
- Gross operating margin -€12,941
down €12,941 (-14.1%), from €91,510 to €78,569
- Financial income +€6,192
up €6,192 (+6,191,860%), from €0 to €6,192
- Depreciation -€2,948
down €2,948 (-42.6%), from €6,927 to €3,979
- Taxes -€1,396
down €1,396 (-6.2%), from €22,505 to €21,109
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 | €401,391 | €462,394 | +€61,003 | +15.2% |
| Fixed assets | 21/28 | €4,559 | €581 | -€3,979 | -87.3% |
| Tangible fixed assets | 22/27 | €4,559 | €581 | -€3,979 | -87.3% |
| Plant, machinery and equipment | 23 | €761 | €581 | -€181 | -23.7% |
| Furniture and vehicles | 24 | €3,798 | €0 | -€3,798 | -100% |
| Current assets | 29/58 | €396,831 | €461,813 | +€64,982 | +16.4% |
| Amounts receivable within one year | 40/41 | €13,305 | €2,495 | -€10,810 | -81.2% |
| Trade receivables | 40 | €13,299 | €2,489 | -€10,810 | -81.3% |
| Other amounts receivable | 41 | €6 | €6 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €382,184 | €456,985 | +€74,800 | +19.6% |
| Deferred charges and accrued income | 490/1 | €1,342 | €2,334 | +€992 | +73.9% |
| Total equity and liabilities | 10/49 | €401,391 | €462,394 | +€61,003 | +15.2% |
| Equity | 10/15 | €298,915 | €351,363 | +€52,449 | +17.5% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Contributions outside capital | 11 | €8,000 | €8,000 | = | 0.0% |
| Other | 1109/19 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €261,249 | €313,698 | +€52,449 | +20.1% |
| Distributable reserves | 133 | €261,249 | €313,698 | +€52,449 | +20.1% |
| Profit (loss) carried forward | 14 | €29,666 | €29,666 | = | 0.0% |
| Amounts payable | 17/49 | €102,476 | €111,030 | +€8,554 | +8.3% |
| Amounts payable after more than one year | 17 | €35,000 | €35,000 | = | 0.0% |
| Other amounts payable | 178/9 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €67,238 | €71,417 | +€4,179 | +6.2% |
| Trade debts | 44 | €1,779 | €1,680 | -€99 | -5.6% |
| Suppliers | 440/4 | €1,779 | €1,680 | -€99 | -5.6% |
| Taxes, remuneration and social security | 45 | €19,148 | €17,232 | -€1,916 | -10.0% |
| Taxes | 450/3 | €19,148 | €17,232 | -€1,916 | -10.0% |
| Other amounts payable | 47/48 | €46,311 | €52,506 | +€6,195 | +13.4% |
| Accrued charges and deferred income | 492/3 | €238 | €4,613 | +€4,375 | +1,837% |
| Remuneration, social security and pensions | 62 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,927 | €3,979 | -€2,948 | -42.6% |
| Other operating charges | 640/8 | €518 | €539 | +€21 | +4.0% |
| Gross operating margin | 9900 | €91,510 | €78,569 | -€12,941 | -14.1% |
| Operating profit (loss) | 9901 | €83,677 | €73,651 | -€10,025 | -12.0% |
| Financial income | 75/76B | €0 | €6,192 | +€6,192 | +6,191,860% |
| Recurring financial income | 75 | €0 | €6,192 | +€6,192 | +6,191,860% |
| Financial charges | 65/66B | €6,010 | €6,285 | +€276 | +4.6% |
| Recurring financial charges | 65 | €6,010 | €6,285 | +€276 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €77,667 | €73,558 | -€4,109 | -5.3% |
| Income taxes | 67/77 | €22,505 | €21,109 | -€1,396 | -6.2% |
| Profit (loss) for the period | 9904 | €55,163 | €52,449 | -€2,714 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €55,163 | €52,449 | -€2,714 | -4.9% |
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 26 October 2026 via checked.be.