SERZA: 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.
SERZA
Largest movements
- Receivables within one year +€4,647
up €4,647 (+582.5%), from €798 to €5,444
of which Trade receivables: +€5,430
- Stocks and contracts -€2,285
down €2,285 (-34.3%), from €6,655 to €4,370
of which Stocks: -€4,595
- Cash -€1,540
down €1,540 (-86.0%), from €1,790 to €250
mainly Receivables within one year (-€4,647) and Other debts (-€1,206)
- Tangible fixed assets -€956
down €956 (-100.0%), from €956 to €0
- Deferred charges and accrued income -€857
no longer reported in 2023 (was €857)
- Tax, wage and social debts +€1,581
new in 2023: €1,581
- Other debts -€1,206
down €1,206 (-30.4%), from €3,969 to €2,762
- Profit (loss) carried forward -€1,050
down €1,050 (-5.6%), from -€18,866 to -€19,916
- Trade debts -€315
down €315 (-97.8%), from €322 to €7
- Gross operating margin +€4,956
up €4,956, from -€4,296 to €660
- Depreciation -€1,721
down €1,721 (-64.3%), from €2,677 to €956
- Other operating charges +€206
up €206 (+41.6%), from €496 to €703
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,705 | €11,715 | -€990 | -7.8% |
| Fixed assets | 21/28 | €2,606 | €1,650 | -€956 | -36.7% |
| Tangible fixed assets | 22/27 | €956 | €0 | -€956 | -100.0% |
| Plant, machinery and equipment | 23 | €956 | €0 | -€956 | -100.0% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €10,099 | €10,065 | -€35 | -0.3% |
| Stocks and contracts in progress | 3 | €6,655 | €4,370 | -€2,285 | -34.3% |
| Stocks | 30/36 | €6,655 | €2,060 | -€4,595 | -69.0% |
| Contracts in progress | 37 | - | €2,310 | +€2,310 | |
| Amounts receivable within one year | 40/41 | €798 | €5,444 | +€4,647 | +582.5% |
| Trade receivables | 40 | - | €5,430 | +€5,430 | |
| Other amounts receivable | 41 | €798 | €14 | -€784 | -98.2% |
| Cash at bank and in hand | 54/58 | €1,790 | €250 | -€1,540 | -86.0% |
| Deferred charges and accrued income | 490/1 | €857 | - | -€857 | |
| Total equity and liabilities | 10/49 | €12,705 | €11,715 | -€990 | -7.8% |
| Equity | 10/15 | €8,414 | €7,364 | -€1,050 | -12.5% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Capital | 10 | €24,800 | €24,800 | = | 0.0% |
| Issued capital | 100 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €2,480 | €2,480 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,480 | €2,480 | = | 0.0% |
| Legal reserve | 130 | €2,480 | €2,480 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,866 | -€19,916 | -€1,050 | -5.6% |
| Amounts payable | 17/49 | €4,291 | €4,351 | +€60 | +1.4% |
| Amounts payable within one year | 42/48 | €4,291 | €4,351 | +€60 | +1.4% |
| Trade debts | 44 | €322 | €7 | -€315 | -97.8% |
| Suppliers | 440/4 | €322 | €7 | -€315 | -97.8% |
| Taxes, remuneration and social security | 45 | - | €1,581 | +€1,581 | |
| Remuneration and social security | 454/9 | - | €1,581 | +€1,581 | |
| Other amounts payable | 47/48 | €3,969 | €2,762 | -€1,206 | -30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,677 | €956 | -€1,721 | -64.3% |
| Other operating charges | 640/8 | €496 | €703 | +€206 | +41.6% |
| Gross operating margin | 9900 | -€4,296 | €660 | +€4,956 | |
| Operating profit (loss) | 9901 | -€7,469 | -€998 | +€6,471 | +86.6% |
| Financial charges | 65/66B | €42 | €52 | +€10 | +24.3% |
| Recurring financial charges | 65 | €42 | €52 | +€10 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,511 | -€1,050 | +€6,461 | +86.0% |
| Profit (loss) for the period | 9904 | -€7,511 | -€1,050 | +€6,461 | +86.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,511 | -€1,050 | +€6,461 | +86.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.