SERSISA: 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.
SERSISA
Largest movements
- Tangible fixed assets +€34,334
up €34,334 (+318.1%), from €10,795 to €45,129
- Receivables within one year -€9,900
down €9,900 (-32.7%), from €30,306 to €20,407
of which Trade receivables: -€8,787
- Deferred charges and accrued income +€710
up €710 (+52.4%), from €1,354 to €2,064
- Debts after one year +€24,002
up €24,002 (+801.9%), from €2,993 to €26,996
- Profit (loss) carried forward +€1,314
up €1,314 (+8.2%), from €16,123 to €17,438
- Short-term financial debts -€918
down €918 (-44.7%), from €2,053 to €1,134
- Depreciation -€4,835
down €4,835 (-35.6%), from €13,588 to €8,753
- Gross operating margin +€2,991
up €2,991 (+26.3%), from €11,361 to €14,352
- Taxes -€2,013
down €2,013 (-70.0%), from €2,875 to €862
- Financial charges -€829
down €829 (-37.4%), from €2,215 to €1,386
- Other operating charges +€389
up €389 (+23.6%), from €1,647 to €2,037
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 | €42,787 | €67,769 | +€24,982 | +58.4% |
| Fixed assets | 21/28 | €10,891 | €45,225 | +€34,334 | +315.3% |
| Tangible fixed assets | 22/27 | €10,795 | €45,129 | +€34,334 | +318.1% |
| Furniture and vehicles | 24 | €10,795 | €45,129 | +€34,334 | +318.1% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €31,896 | €22,544 | -€9,352 | -29.3% |
| Amounts receivable within one year | 40/41 | €30,306 | €20,407 | -€9,900 | -32.7% |
| Trade receivables | 40 | €27,457 | €18,670 | -€8,787 | -32.0% |
| Other amounts receivable | 41 | €2,850 | €1,737 | -€1,113 | -39.0% |
| Cash at bank and in hand | 54/58 | €236 | €73 | -€163 | -69.0% |
| Deferred charges and accrued income | 490/1 | €1,354 | €2,064 | +€710 | +52.4% |
| Total equity and liabilities | 10/49 | €42,787 | €67,769 | +€24,982 | +58.4% |
| Equity | 10/15 | €24,183 | €25,498 | +€1,314 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,123 | €17,438 | +€1,314 | +8.2% |
| Amounts payable | 17/49 | €18,604 | €42,271 | +€23,668 | +127.2% |
| Amounts payable after more than one year | 17 | €2,993 | €26,996 | +€24,002 | +801.9% |
| Financial debts | 170/4 | €2,993 | €26,996 | +€24,002 | +801.9% |
| Amounts payable within one year | 42/48 | €15,610 | €15,276 | -€335 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €12,436 | €12,431 | -€5 | 0.0% |
| Financial debts | 43 | €2,053 | €1,134 | -€918 | -44.7% |
| Credit institutions | 430/8 | €2,053 | €1,134 | -€918 | -44.7% |
| Trade debts | 44 | €323 | €782 | +€459 | +142.2% |
| Suppliers | 440/4 | €323 | €782 | +€459 | +142.2% |
| Taxes, remuneration and social security | 45 | €799 | €929 | +€130 | +16.3% |
| Remuneration and social security | 454/9 | €799 | €929 | +€130 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,588 | €8,753 | -€4,835 | -35.6% |
| Other operating charges | 640/8 | €1,647 | €2,037 | +€389 | +23.6% |
| Gross operating margin | 9900 | €11,361 | €14,352 | +€2,991 | +26.3% |
| Operating profit (loss) | 9901 | -€3,874 | €3,563 | +€7,437 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +145.5% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +145.5% |
| Financial charges | 65/66B | €2,215 | €1,386 | -€829 | -37.4% |
| Recurring financial charges | 65 | €2,215 | €1,386 | -€829 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,089 | €2,177 | +€8,266 | |
| Income taxes | 67/77 | €2,875 | €862 | -€2,013 | -70.0% |
| Profit (loss) for the period | 9904 | -€8,964 | €1,314 | +€10,279 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,964 | €1,314 | +€10,279 |
Source: filed annual accounts (NBB), fiscal years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.