SERY: 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.
SERY
Largest movements
- Receivables within one year +€48,127
up €48,127 (+28.8%), from €167,114 to €215,240
of which Trade receivables: +€57,326
- Cash +€20,604
up €20,604 (+34.1%), from €60,448 to €81,052
mainly Other debts (+€146,589) and Net result for the year (+€116,504)
- Other debts +€146,589
up €146,589 (+181.4%), from €80,814 to €227,403
- Reserves -€84,000
down €84,000 (-49.7%), from €169,000 to €85,000
- Gross operating margin +€16,230
up €16,230 (+11.8%), from €137,208 to €153,438
- Taxes +€3,167
up €3,167 (+10.3%), from €30,801 to €33,968
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 | €266,375 | €332,976 | +€66,601 | +25.0% |
| Fixed assets | 21/28 | €35,047 | €33,342 | -€1,704 | -4.9% |
| Tangible fixed assets | 22/27 | €5,047 | €3,342 | -€1,704 | -33.8% |
| Furniture and vehicles | 24 | €1,937 | €692 | -€1,245 | -64.3% |
| Other tangible fixed assets | 26 | €3,110 | €2,650 | -€460 | -14.8% |
| Financial fixed assets | 28 | €30,000 | €30,000 | = | 0.0% |
| Current assets | 29/58 | €231,328 | €299,633 | +€68,305 | +29.5% |
| Amounts receivable within one year | 40/41 | €167,114 | €215,240 | +€48,127 | +28.8% |
| Trade receivables | 40 | €157,914 | €215,240 | +€57,326 | +36.3% |
| Other amounts receivable | 41 | €9,199 | €0 | -€9,199 | -100.0% |
| Cash at bank and in hand | 54/58 | €60,448 | €81,052 | +€20,604 | +34.1% |
| Deferred charges and accrued income | 490/1 | €3,767 | €3,341 | -€425 | -11.3% |
| Total equity and liabilities | 10/49 | €266,375 | €332,976 | +€66,601 | +25.0% |
| Equity | 10/15 | €175,343 | €91,847 | -€83,496 | -47.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €169,000 | €85,000 | -€84,000 | -49.7% |
| Distributable reserves | 133 | €169,000 | €85,000 | -€84,000 | -49.7% |
| Profit (loss) carried forward | 14 | €343 | €847 | +€504 | +147.0% |
| Amounts payable | 17/49 | €91,032 | €241,129 | +€150,097 | +164.9% |
| Amounts payable within one year | 42/48 | €91,032 | €241,129 | +€150,097 | +164.9% |
| Trade debts | 44 | €3,068 | €3,606 | +€538 | +17.5% |
| Suppliers | 440/4 | €3,068 | €3,606 | +€538 | +17.5% |
| Taxes, remuneration and social security | 45 | €7,150 | €10,120 | +€2,970 | +41.5% |
| Taxes | 450/3 | €4,953 | €10,120 | +€5,167 | +104.3% |
| Remuneration and social security | 454/9 | €2,197 | €0 | -€2,197 | -100.0% |
| Other amounts payable | 47/48 | €80,814 | €227,403 | +€146,589 | +181.4% |
| Non-recurring operating income | 76A | - | €1,566 | +€1,566 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,704 | €1,704 | = | 0.0% |
| Other operating charges | 640/8 | €509 | €536 | +€27 | +5.3% |
| Non-recurring operating charges | 66A | €22 | €0 | -€22 | -100.0% |
| Gross operating margin | 9900 | €137,208 | €153,438 | +€16,230 | +11.8% |
| Operating profit (loss) | 9901 | €134,973 | €151,198 | +€16,225 | +12.0% |
| Financial charges | 65/66B | €954 | €726 | -€228 | -23.9% |
| Recurring financial charges | 65 | €954 | €726 | -€228 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €134,020 | €150,472 | +€16,452 | +12.3% |
| Income taxes | 67/77 | €30,801 | €33,968 | +€3,167 | +10.3% |
| Profit (loss) for the period | 9904 | €103,219 | €116,504 | +€13,285 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,219 | €116,504 | +€13,285 | +12.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.