Tuinen Sercu: what changed
Tuinen Sercu
Largest movements
- Cash +€30,537
up €30,537 (+138%), from €22,156 to €52,693
mainly Trade debts (+€46,421) and Debts after one year (+€30,458)
- Receivables within one year +€21,749
up €21,749 (+37.8%), from €57,503 to €79,252
of which Trade receivables: +€21,961
- Tangible fixed assets +€10,582
up €10,582 (+3.7%), from €284,464 to €295,045
of which Furniture and vehicles: +€6,956
- Trade debts +€46,421
up €46,421 (+191%), from €24,315 to €70,736
- Debts after one year +€30,458
up €30,458 (+12.1%), from €252,160 to €282,618
of which Other amounts payable: +€40,075
- Other debts -€14,381
no longer reported in 2025 (was €14,381)
- Tax, wage and social debts -€8,563
down €8,563 (-43.2%), from €19,806 to €11,242
of which Remuneration and social security: -€9,874
- Reserves +€6,271
up €6,271 (+14.5%), from €43,262 to €49,533
- Gross operating margin -€56,648
down €56,648 (-31.4%), from €180,146 to €123,498
- Staff costs -€53,740
down €53,740 (-38.8%), from €138,560 to €84,820
- Depreciation -€13,711
down €13,711 (-48.6%), from €28,210 to €14,500
- Financial charges +€3,348
up €3,348 (+43.3%), from €7,731 to €11,079
- Taxes +€2,497
new in 2025: €2,497
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €366,192 | €428,386 | +€62,194 | +17.0% |
| Fixed assets | 21/28 | €284,464 | €295,045 | +€10,582 | +3.7% |
| Tangible fixed assets | 22/27 | €284,464 | €295,045 | +€10,582 | +3.7% |
| Land and buildings | 22 | €274,278 | €274,986 | +€708 | +0.3% |
| Plant, machinery and equipment | 23 | €2,759 | €6,092 | +€3,333 | +121% |
| Furniture and vehicles | 24 | €5,714 | €12,669 | +€6,956 | +122% |
| Leasing and similar rights | 25 | €1,713 | €1,297 | -€416 | -24.3% |
| Current assets | 29/58 | €81,728 | €133,341 | +€51,612 | +63.2% |
| Amounts receivable within one year | 40/41 | €57,503 | €79,252 | +€21,749 | +37.8% |
| Trade receivables | 40 | €56,135 | €78,096 | +€21,961 | +39.1% |
| Other amounts receivable | 41 | €1,368 | €1,156 | -€212 | -15.5% |
| Cash at bank and in hand | 54/58 | €22,156 | €52,693 | +€30,537 | +138% |
| Deferred charges and accrued income | 490/1 | €2,070 | €1,396 | -€674 | -32.6% |
| Total equity and liabilities | 10/49 | €366,192 | €428,386 | +€62,194 | +17.0% |
| Equity | 10/15 | €46,262 | €52,533 | +€6,271 | +13.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,262 | €49,533 | +€6,271 | +14.5% |
| Distributable reserves | 133 | €43,262 | €49,533 | +€6,271 | +14.5% |
| Amounts payable | 17/49 | €319,930 | €375,852 | +€55,922 | +17.5% |
| Amounts payable after more than one year | 17 | €252,160 | €282,618 | +€30,458 | +12.1% |
| Financial debts | 170/4 | €252,160 | €242,544 | -€9,617 | -3.8% |
| Other amounts payable | 178/9 | - | €40,075 | +€40,075 | |
| Amounts payable within one year | 42/48 | €67,770 | €92,381 | +€24,611 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €9,268 | €10,402 | +€1,134 | +12.2% |
| Trade debts | 44 | €24,315 | €70,736 | +€46,421 | +191% |
| Suppliers | 440/4 | €24,315 | €70,736 | +€46,421 | +191% |
| Taxes, remuneration and social security | 45 | €19,806 | €11,242 | -€8,563 | -43.2% |
| Taxes | 450/3 | €9,337 | €10,648 | +€1,311 | +14.0% |
| Remuneration and social security | 454/9 | €10,469 | €594 | -€9,874 | -94.3% |
| Other amounts payable | 47/48 | €14,381 | - | -€14,381 | |
| Accrued charges and deferred income | 492/3 | - | €853 | +€853 | |
| Remuneration, social security and pensions | 62 | €138,560 | €84,820 | -€53,740 | -38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,210 | €14,500 | -€13,711 | -48.6% |
| Other operating charges | 640/8 | €5,498 | €4,413 | -€1,085 | -19.7% |
| Gross operating margin | 9900 | €180,146 | €123,498 | -€56,648 | -31.4% |
| Operating profit (loss) | 9901 | €7,878 | €19,766 | +€11,888 | +151% |
| Financial income | 75/76B | €135 | €81 | -€53 | -39.5% |
| Recurring financial income | 75 | €135 | €81 | -€53 | -39.5% |
| Financial charges | 65/66B | €7,731 | €11,079 | +€3,348 | +43.3% |
| Recurring financial charges | 65 | €7,731 | €11,079 | +€3,348 | +43.3% |
| Profit (loss) for the period before taxes | 9903 | €281 | €8,768 | +€8,487 | +3,018% |
| Income taxes | 67/77 | - | €2,497 | +€2,497 | |
| Profit (loss) for the period | 9904 | €281 | €6,271 | +€5,990 | +2,130% |
| Profit (loss) for the period to be appropriated | 9905 | €281 | €6,271 | +€5,990 | +2,130% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.