SERENDIB: what changed
SERENDIB
Largest movements
- Receivables within one year +€15,332
up €15,332 (+2,169%), from €707 to €16,039
- Tangible fixed assets -€15,044
down €15,044 (-27.1%), from €55,507 to €40,463
of which Furniture and vehicles: -€13,243
- Cash -€6,410
down €6,410 (-12.7%), from €50,441 to €44,031
mainly Receivables within one year (-€15,332) and Debts after one year (-€8,142)
- Deferred charges and accrued income -€1,717
no longer reported in 2025 (was €1,717)
- Reserves +€20,637
up €20,637 (+43.1%), from €47,886 to €68,523
- Debts after one year -€8,142
down €8,142 (-61.0%), from €13,349 to €5,206
- Tax, wage and social debts -€7,789
down €7,789 (-35.0%), from €22,244 to €14,455
of which Taxes: -€9,190
- Trade debts -€7,174
down €7,174 (-45.9%), from €15,628 to €8,454
- Other debts -€2,629
no longer reported in 2025 (was €2,629)
- Gross operating margin +€28,751
up €28,751 (+28.1%), from €102,206 to €130,957
- Staff costs +€14,185
up €14,185 (+23.8%), from €59,525 to €73,709
- Depreciation +€13,553
up €13,553 (+182%), from €7,427 to €20,980
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 | €112,344 | €104,781 | -€7,564 | -6.7% |
| Fixed assets | 21/28 | €55,507 | €40,463 | -€15,044 | -27.1% |
| Tangible fixed assets | 22/27 | €55,507 | €40,463 | -€15,044 | -27.1% |
| Plant, machinery and equipment | 23 | €5,263 | €3,833 | -€1,430 | -27.2% |
| Furniture and vehicles | 24 | €48,995 | €35,751 | -€13,243 | -27.0% |
| Other tangible fixed assets | 26 | €1,249 | €879 | -€371 | -29.7% |
| Current assets | 29/58 | €56,837 | €64,318 | +€7,481 | +13.2% |
| Stocks and contracts in progress | 3 | €3,972 | €4,248 | +€276 | +6.9% |
| Stocks | 30/36 | €3,972 | €4,248 | +€276 | +6.9% |
| Amounts receivable within one year | 40/41 | €707 | €16,039 | +€15,332 | +2,169% |
| Other amounts receivable | 41 | €707 | €16,039 | +€15,332 | +2,169% |
| Cash at bank and in hand | 54/58 | €50,441 | €44,031 | -€6,410 | -12.7% |
| Deferred charges and accrued income | 490/1 | €1,717 | - | -€1,717 | |
| Total equity and liabilities | 10/49 | €112,344 | €104,781 | -€7,564 | -6.7% |
| Equity | 10/15 | €47,886 | €68,523 | +€20,637 | +43.1% |
| Reserves | 13 | €47,886 | €68,523 | +€20,637 | +43.1% |
| Distributable reserves | 133 | €47,886 | €68,523 | +€20,637 | +43.1% |
| Amounts payable | 17/49 | €64,458 | €36,257 | -€28,201 | -43.8% |
| Amounts payable after more than one year | 17 | €13,349 | €5,206 | -€8,142 | -61.0% |
| Financial debts | 170/4 | €13,349 | €5,206 | -€8,142 | -61.0% |
| Amounts payable within one year | 42/48 | €51,110 | €31,051 | -€20,059 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €10,608 | €8,142 | -€2,466 | -23.2% |
| Trade debts | 44 | €15,628 | €8,454 | -€7,174 | -45.9% |
| Suppliers | 440/4 | €15,628 | €8,454 | -€7,174 | -45.9% |
| Taxes, remuneration and social security | 45 | €22,244 | €14,455 | -€7,789 | -35.0% |
| Taxes | 450/3 | €15,931 | €6,741 | -€9,190 | -57.7% |
| Remuneration and social security | 454/9 | €6,313 | €7,714 | +€1,401 | +22.2% |
| Other amounts payable | 47/48 | €2,629 | - | -€2,629 | |
| Remuneration, social security and pensions | 62 | €59,525 | €73,709 | +€14,185 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,427 | €20,980 | +€13,553 | +182% |
| Other operating charges | 640/8 | €1,654 | €1,553 | -€101 | -6.1% |
| Gross operating margin | 9900 | €102,206 | €130,957 | +€28,751 | +28.1% |
| Operating profit (loss) | 9901 | €33,599 | €34,714 | +€1,115 | +3.3% |
| Financial income | 75/76B | €162 | €713 | +€551 | +340% |
| Recurring financial income | 75 | €162 | €713 | +€551 | +340% |
| Financial charges | 65/66B | €3,226 | €3,301 | +€75 | +2.3% |
| Recurring financial charges | 65 | €3,226 | €3,301 | +€75 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €30,535 | €32,125 | +€1,590 | +5.2% |
| Income taxes | 67/77 | €10,902 | €11,488 | +€586 | +5.4% |
| Profit (loss) for the period | 9904 | €19,633 | €20,637 | +€1,004 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,633 | €20,637 | +€1,004 | +5.1% |
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 4 November 2026 via checked.be.