SEF TRANS: 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.
SEF TRANS
Largest movements
- Deferred charges and accrued income -€45,000
down €45,000 (-93.4%), from €48,169 to €3,169
- Receivables within one year -€15,982
down €15,982 (-17.8%), from €89,563 to €73,581
- Other debts -€24,234
down €24,234 (-99.6%), from €24,320 to €86
- Tax, wage and social debts -€22,346
down €22,346 (-78.5%), from €28,457 to €6,111
of which Remuneration and social security: -€24,822
- Debts after one year -€16,518
down €16,518 (-51.2%), from €32,252 to €15,734
- Trade debts -€10,259
down €10,259 (-43.5%), from €23,603 to €13,344
- Advances received +€9,909
up €9,909 (+28.0%), from €35,338 to €45,246
- Gross operating margin -€130,059
down €130,059 (-85.6%), from €151,982 to €21,923
- Staff costs -€124,724
down €124,724 (-99.5%), from €125,385 to €660
- Depreciation -€15,400
no longer reported in 2024 (was €15,400)
- Other operating charges +€14,736
up €14,736 (+1,096%), from €1,345 to €16,080
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €176,922 | €115,720 | -€61,202 | -34.6% |
| Fixed assets | 21/28 | €34,654 | €34,654 | = | 0.0% |
| Intangible fixed assets | 21 | €7,189 | €7,189 | = | 0.0% |
| Tangible fixed assets | 22/27 | €8,901 | €8,901 | = | 0.0% |
| Furniture and vehicles | 24 | €8,901 | €8,901 | = | 0.0% |
| Financial fixed assets | 28 | €18,564 | €18,564 | = | 0.0% |
| Current assets | 29/58 | €142,268 | €81,066 | -€61,202 | -43.0% |
| Amounts receivable within one year | 40/41 | €89,563 | €73,581 | -€15,982 | -17.8% |
| Trade receivables | 40 | €89,563 | €73,581 | -€15,982 | -17.8% |
| Cash at bank and in hand | 54/58 | €4,536 | €4,316 | -€220 | -4.8% |
| Deferred charges and accrued income | 490/1 | €48,169 | €3,169 | -€45,000 | -93.4% |
| Total equity and liabilities | 10/49 | €176,922 | €115,720 | -€61,202 | -34.6% |
| Equity | 10/15 | €32,953 | €35,199 | +€2,246 | +6.8% |
| Profit (loss) carried forward | 14 | €32,953 | €35,199 | +€2,246 | +6.8% |
| Amounts payable | 17/49 | €143,969 | €80,521 | -€63,448 | -44.1% |
| Amounts payable after more than one year | 17 | €32,252 | €15,734 | -€16,518 | -51.2% |
| Financial debts | 170/4 | €32,252 | €15,734 | -€16,518 | -51.2% |
| Amounts payable within one year | 42/48 | €111,717 | €64,787 | -€46,930 | -42.0% |
| Trade debts | 44 | €23,603 | €13,344 | -€10,259 | -43.5% |
| Suppliers | 440/4 | €23,603 | €13,344 | -€10,259 | -43.5% |
| Advances received on contracts in progress | 46 | €35,338 | €45,246 | +€9,909 | +28.0% |
| Taxes, remuneration and social security | 45 | €28,457 | €6,111 | -€22,346 | -78.5% |
| Taxes | 450/3 | €3,635 | €6,111 | +€2,476 | +68.1% |
| Remuneration and social security | 454/9 | €24,822 | - | -€24,822 | |
| Other amounts payable | 47/48 | €24,320 | €86 | -€24,234 | -99.6% |
| Remuneration, social security and pensions | 62 | €125,385 | €660 | -€124,724 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,400 | - | -€15,400 | |
| Other operating charges | 640/8 | €1,345 | €16,080 | +€14,736 | +1,096% |
| Gross operating margin | 9900 | €151,982 | €21,923 | -€130,059 | -85.6% |
| Operating profit (loss) | 9901 | €9,853 | €5,183 | -€4,670 | -47.4% |
| Financial charges | 65/66B | €2,694 | €2,936 | +€242 | +9.0% |
| Recurring financial charges | 65 | €2,694 | €2,936 | +€242 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €7,159 | €2,246 | -€4,913 | -68.6% |
| Profit (loss) for the period | 9904 | €7,159 | €2,246 | -€4,913 | -68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,159 | €2,246 | -€4,913 | -68.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.