SEROEN: what changed
SEROEN
Largest movements
- Receivables within one year +€11,942
up €11,942 (+889%), from €1,343 to €13,285
of which Other amounts receivable: +€8,490
- Cash -€2,543
down €2,543 (-22.8%), from €11,175 to €8,632
mainly Receivables within one year (-€11,942) and Investment in fixed assets (net) (-€572)
- Tangible fixed assets -€1,469
down €1,469 (-64.1%), from €2,292 to €822
- Deferred charges and accrued income -€261
down €261 (-100%), from €261 to €0
- Profit (loss) carried forward +€7,971
up €7,971 (+128%), from €6,218 to €14,189
- Trade debts -€358
down €358 (-17.1%), from €2,089 to €1,731
- Gross operating margin +€3,267
up €3,267 (+29.8%), from €10,972 to €14,239
- Other operating charges +€1,360
up €1,360 (+354%), from €384 to €1,744
- Depreciation -€585
down €585 (-21.8%), from €2,682 to €2,097
- Taxes +€538
up €538 (+32.5%), from €1,657 to €2,195
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 | €15,126 | €22,739 | +€7,613 | +50.3% |
| Fixed assets | 21/28 | €2,347 | €822 | -€1,525 | -65.0% |
| Tangible fixed assets | 22/27 | €2,292 | €822 | -€1,469 | -64.1% |
| Furniture and vehicles | 24 | €2,292 | €822 | -€1,469 | -64.1% |
| Financial fixed assets | 28 | €56 | €0 | -€56 | -100% |
| Current assets | 29/58 | €12,779 | €21,917 | +€9,138 | +71.5% |
| Amounts receivable within one year | 40/41 | €1,343 | €13,285 | +€11,942 | +889% |
| Trade receivables | 40 | €0 | €3,452 | +€3,452 | |
| Other amounts receivable | 41 | €1,343 | €9,833 | +€8,490 | +632% |
| Cash at bank and in hand | 54/58 | €11,175 | €8,632 | -€2,543 | -22.8% |
| Deferred charges and accrued income | 490/1 | €261 | €0 | -€261 | -100% |
| Total equity and liabilities | 10/49 | €15,126 | €22,739 | +€7,613 | +50.3% |
| Equity | 10/15 | €9,218 | €17,189 | +€7,971 | +86.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,218 | €14,189 | +€7,971 | +128% |
| Amounts payable | 17/49 | €5,909 | €5,551 | -€358 | -6.1% |
| Amounts payable within one year | 42/48 | €5,909 | €5,551 | -€358 | -6.1% |
| Trade debts | 44 | €2,089 | €1,731 | -€358 | -17.1% |
| Suppliers | 440/4 | €2,089 | €1,731 | -€358 | -17.1% |
| Taxes, remuneration and social security | 45 | €3,820 | €3,820 | = | 0.0% |
| Taxes | 450/3 | €1,200 | €1,200 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,620 | €2,620 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,682 | €2,097 | -€585 | -21.8% |
| Other operating charges | 640/8 | €384 | €1,744 | +€1,360 | +354% |
| Gross operating margin | 9900 | €10,972 | €14,239 | +€3,267 | +29.8% |
| Operating profit (loss) | 9901 | €7,906 | €10,397 | +€2,492 | +31.5% |
| Financial income | 75/76B | €115 | €25 | -€90 | -78.3% |
| Recurring financial income | 75 | €115 | €25 | -€90 | -78.3% |
| Financial charges | 65/66B | €146 | €256 | +€110 | +75.8% |
| Recurring financial charges | 65 | €146 | €256 | +€110 | +75.8% |
| Profit (loss) for the period before taxes | 9903 | €7,875 | €10,166 | +€2,291 | +29.1% |
| Income taxes | 67/77 | €1,657 | €2,195 | +€538 | +32.5% |
| Profit (loss) for the period | 9904 | €6,218 | €7,971 | +€1,753 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,218 | €7,971 | +€1,753 | +28.2% |
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.