Serwa: 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.
Serwa
Largest movements
- Current investments +€23,029
up €23,029 (+30.1%), from €76,629 to €99,658
- Receivables after one year +€17,000
new in 2024: €17,000
- Receivables within one year -€4,076
down €4,076 (-39.3%), from €10,376 to €6,300
of which Other amounts receivable: -€5,362
- Cash +€2,216
up €2,216 (+7.3%), from €30,384 to €32,599
mainly Net result for the year (+€33,400) and Tax, wage and social debts (+€6,028)
- Deferred charges and accrued income +€2,045
up €2,045 (+48.9%), from €4,186 to €6,231
- Reserves +€33,400
up €33,400 (+35.5%), from €94,193 to €127,593
- Tax, wage and social debts +€6,028
up €6,028 (+35.3%), from €17,079 to €23,107
- Financial income +€21,399
up €21,399 (+1,313%), from €1,630 to €23,029
- Taxes +€3,736
up €3,736 (+76.0%), from €4,917 to €8,653
- Gross operating margin +€443
up €443 (+2.2%), from €20,053 to €20,496
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.
Derived cash bridge
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 | €122,030 | €161,788 | +€39,758 | +32.6% |
| Fixed assets | 21/28 | €454 | - | -€454 | |
| Tangible fixed assets | 22/27 | €454 | - | -€454 | |
| Plant, machinery and equipment | 23 | €454 | - | -€454 | |
| Current assets | 29/58 | €121,575 | €161,788 | +€40,213 | +33.1% |
| Amounts receivable after more than one year | 29 | - | €17,000 | +€17,000 | |
| Other amounts receivable | 291 | - | €17,000 | +€17,000 | |
| Amounts receivable within one year | 40/41 | €10,376 | €6,300 | -€4,076 | -39.3% |
| Trade receivables | 40 | €4,993 | €6,278 | +€1,286 | +25.7% |
| Other amounts receivable | 41 | €5,384 | €22 | -€5,362 | -99.6% |
| Current investments | 50/53 | €76,629 | €99,658 | +€23,029 | +30.1% |
| Cash at bank and in hand | 54/58 | €30,384 | €32,599 | +€2,216 | +7.3% |
| Deferred charges and accrued income | 490/1 | €4,186 | €6,231 | +€2,045 | +48.9% |
| Total equity and liabilities | 10/49 | €122,030 | €161,788 | +€39,758 | +32.6% |
| Equity | 10/15 | €104,193 | €137,593 | +€33,400 | +32.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €94,193 | €127,593 | +€33,400 | +35.5% |
| Distributable reserves | 133 | €94,193 | €127,593 | +€33,400 | +35.5% |
| Amounts payable | 17/49 | €17,837 | €24,195 | +€6,358 | +35.6% |
| Amounts payable within one year | 42/48 | €17,837 | €24,195 | +€6,358 | +35.6% |
| Trade debts | 44 | €758 | €1,088 | +€330 | +43.6% |
| Suppliers | 440/4 | €758 | €1,088 | +€330 | +43.6% |
| Taxes, remuneration and social security | 45 | €17,079 | €23,107 | +€6,028 | +35.3% |
| Taxes | 450/3 | €17,079 | €23,107 | +€6,028 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €553 | €454 | -€98 | -17.8% |
| Other operating charges | 640/8 | €493 | €505 | +€12 | +2.4% |
| Gross operating margin | 9900 | €20,053 | €20,496 | +€443 | +2.2% |
| Operating profit (loss) | 9901 | €19,007 | €19,536 | +€530 | +2.8% |
| Financial income | 75/76B | €1,630 | €23,029 | +€21,399 | +1,313% |
| Recurring financial income | 75 | €1,630 | €23,029 | +€21,399 | +1,313% |
| Financial charges | 65/66B | €396 | €512 | +€116 | +29.3% |
| Recurring financial charges | 65 | €396 | €512 | +€116 | +29.3% |
| Profit (loss) for the period before taxes | 9903 | €20,240 | €42,053 | +€21,813 | +108% |
| Income taxes | 67/77 | €4,917 | €8,653 | +€3,736 | +76.0% |
| Profit (loss) for the period | 9904 | €15,324 | €33,400 | +€18,076 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €15,324 | €33,400 | +€18,076 | +118% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.