SERRUYS: 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.
SERRUYS
Largest movements
- Cash +€390,199
up €390,199 (+439.6%), from €88,764 to €478,962
mainly Current investments (+€315,471) and Net result for the year (+€133,553)
- Current investments -€315,471
down €315,471 (-100.0%), from €315,481 to €10
- Tangible fixed assets -€22,006
down €22,006 (-28.3%), from €77,861 to €55,855
of which Other tangible fixed assets: -€16,867
- Reserves +€131,835
up €131,835 (+12.1%), from €1.1m to €1.2m
of which Distributable reserves: +€131,835
- Trade debts -€27,813
down €27,813 (-84.9%), from €32,742 to €4,929
- Tax, wage and social debts -€18,060
down €18,060 (-28.9%), from €62,462 to €44,402
of which Taxes: -€22,797
- Current portion of long-term debt -€16,545
down €16,545 (-78.2%), from €21,144 to €4,600
- Staff costs +€28,602
up €28,602 (+77.5%), from €36,900 to €65,502
- Gross operating margin -€18,727
down €18,727 (-6.2%), from €304,397 to €285,671
- Financial income +€14,697
up €14,697 (+7526.3%), from €195 to €14,892
- Taxes -€12,329
down €12,329 (-16.7%), from €73,995 to €61,666
- Depreciation +€4,351
up €4,351 (+15.2%), from €28,590 to €32,941
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,263,763 | €1,325,322 | +€61,559 | +4.9% |
| Fixed assets | 21/28 | €718,685 | €696,679 | -€22,006 | -3.1% |
| Tangible fixed assets | 22/27 | €77,861 | €55,855 | -€22,006 | -28.3% |
| Plant, machinery and equipment | 23 | €9,149 | €13,434 | +€4,285 | +46.8% |
| Furniture and vehicles | 24 | €46,239 | €36,814 | -€9,424 | -20.4% |
| Other tangible fixed assets | 26 | €22,474 | €5,607 | -€16,867 | -75.0% |
| Financial fixed assets | 28 | €640,824 | €640,824 | = | 0.0% |
| Current assets | 29/58 | €545,077 | €628,642 | +€83,565 | +15.3% |
| Amounts receivable within one year | 40/41 | €123,764 | €127,798 | +€4,035 | +3.3% |
| Trade receivables | 40 | €7,142 | €3,845 | -€3,297 | -46.2% |
| Other amounts receivable | 41 | €116,622 | €123,953 | +€7,332 | +6.3% |
| Current investments | 50/53 | €315,481 | €10 | -€315,471 | -100.0% |
| Cash at bank and in hand | 54/58 | €88,764 | €478,962 | +€390,199 | +439.6% |
| Deferred charges and accrued income | 490/1 | €17,070 | €21,872 | +€4,803 | +28.1% |
| Total equity and liabilities | 10/49 | €1,263,763 | €1,325,322 | +€61,559 | +4.9% |
| Equity | 10/15 | €1,107,193 | €1,239,028 | +€131,835 | +11.9% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €1,087,693 | €1,219,528 | +€131,835 | +12.1% |
| Non-distributable reserves | 130/1 | €1,950 | €1,950 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,950 | €1,950 | = | 0.0% |
| Tax-exempt reserves | 132 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €1,085,644 | €1,217,478 | +€131,835 | +12.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €156,569 | €86,294 | -€70,276 | -44.9% |
| Amounts payable after more than one year | 17 | €4,600 | €0 | -€4,600 | -100.0% |
| Financial debts | 170/4 | €4,600 | €0 | -€4,600 | -100.0% |
| Amounts payable within one year | 42/48 | €146,759 | €78,757 | -€68,002 | -46.3% |
| Current portion of amounts payable after more than one year | 42 | €21,144 | €4,600 | -€16,545 | -78.2% |
| Financial debts | 43 | €6 | €4,214 | +€4,208 | +67003.3% |
| Credit institutions | 430/8 | €6 | €4,214 | +€4,208 | +67003.3% |
| Trade debts | 44 | €32,742 | €4,929 | -€27,813 | -84.9% |
| Suppliers | 440/4 | €32,742 | €4,929 | -€27,813 | -84.9% |
| Advances received on contracts in progress | 46 | €1,420 | €0 | -€1,420 | -100.0% |
| Taxes, remuneration and social security | 45 | €62,462 | €44,402 | -€18,060 | -28.9% |
| Taxes | 450/3 | €57,309 | €34,512 | -€22,797 | -39.8% |
| Remuneration and social security | 454/9 | €5,153 | €9,890 | +€4,737 | +91.9% |
| Other amounts payable | 47/48 | €28,984 | €20,613 | -€8,371 | -28.9% |
| Accrued charges and deferred income | 492/3 | €5,211 | €7,536 | +€2,326 | +44.6% |
| Remuneration, social security and pensions | 62 | €36,900 | €65,502 | +€28,602 | +77.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,590 | €32,941 | +€4,351 | +15.2% |
| Other operating charges | 640/8 | €3,304 | €4,257 | +€954 | +28.9% |
| Gross operating margin | 9900 | €304,397 | €285,671 | -€18,727 | -6.2% |
| Operating profit (loss) | 9901 | €235,604 | €182,970 | -€52,634 | -22.3% |
| Financial income | 75/76B | €195 | €14,892 | +€14,697 | +7526.3% |
| Recurring financial income | 75 | €195 | €14,892 | +€14,697 | +7526.3% |
| Financial charges | 65/66B | €3,032 | €2,643 | -€389 | -12.8% |
| Recurring financial charges | 65 | €3,032 | €2,643 | -€389 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €232,768 | €195,219 | -€37,548 | -16.1% |
| Income taxes | 67/77 | €73,995 | €61,666 | -€12,329 | -16.7% |
| Profit (loss) for the period | 9904 | €158,772 | €133,553 | -€25,219 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €158,772 | €133,553 | -€25,219 | -15.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.