SER GROUP CONSTRUCT: 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.
SER GROUP CONSTRUCT
Largest movements
- Receivables within one year -€140,739
down €140,739 (-88.1%), from €159,723 to €18,984
of which Trade receivables: -€153,821
- Cash +€39,062
up €39,062 (+2,796%), from €1,397 to €40,459
mainly Receivables within one year (+€140,739) and Depreciation (+€9,787)
- Deferred charges and accrued income +€19,930
new in 2025: €19,930
- Tangible fixed assets -€9,787
down €9,787 (-50.0%), from €19,572 to €9,786
- Trade debts -€77,945
down €77,945 (-57.7%), from €135,078 to €57,133
- Profit (loss) carried forward -€9,893
down €9,893 (-48.9%), from €20,225 to €10,332
- Other debts -€3,585
down €3,585 (-59.4%), from €6,038 to €2,452
- Turnover -€235,207
down €235,207 (-67.0%), from €350,814 to €115,607
- Purchases and services -€220,915
down €220,915 (-67.0%), from €329,574 to €108,659
- Gross operating margin -€13,760
down €13,760 (-66.4%), from €20,708 to €6,948
- Taxes +€5,259
new in 2025: €5,259
From the 2024 result to the 2025 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 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €180,692 | €89,158 | -€91,534 | -50.7% |
| Fixed assets | 21/28 | €19,572 | €9,786 | -€9,787 | -50.0% |
| Tangible fixed assets | 22/27 | €19,572 | €9,786 | -€9,787 | -50.0% |
| Furniture and vehicles | 24 | €19,572 | €9,786 | -€9,787 | -50.0% |
| Current assets | 29/58 | €161,120 | €79,373 | -€81,747 | -50.7% |
| Amounts receivable within one year | 40/41 | €159,723 | €18,984 | -€140,739 | -88.1% |
| Trade receivables | 40 | €154,335 | €514 | -€153,821 | -99.7% |
| Other amounts receivable | 41 | €5,388 | €18,470 | +€13,082 | +243% |
| Cash at bank and in hand | 54/58 | €1,397 | €40,459 | +€39,062 | +2,796% |
| Deferred charges and accrued income | 490/1 | - | €19,930 | +€19,930 | |
| Total equity and liabilities | 10/49 | €180,692 | €89,158 | -€91,534 | -50.7% |
| Equity | 10/15 | €39,467 | €29,574 | -€9,893 | -25.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €642 | €642 | = | 0.0% |
| Non-distributable reserves | 130/1 | €642 | €642 | = | 0.0% |
| Legal reserve | 130 | €642 | €642 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,225 | €10,332 | -€9,893 | -48.9% |
| Amounts payable | 17/49 | €141,226 | €59,585 | -€81,641 | -57.8% |
| Amounts payable within one year | 42/48 | €141,226 | €59,585 | -€81,641 | -57.8% |
| Trade debts | 44 | €135,078 | €57,133 | -€77,945 | -57.7% |
| Suppliers | 440/4 | €135,078 | €57,133 | -€77,945 | -57.7% |
| Taxes, remuneration and social security | 45 | €110 | - | -€110 | |
| Taxes | 450/3 | €110 | - | -€110 | |
| Other amounts payable | 47/48 | €6,038 | €2,452 | -€3,585 | -59.4% |
| Turnover | 70 | €350,814 | €115,607 | -€235,207 | -67.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €329,574 | €108,659 | -€220,915 | -67.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,787 | €9,787 | -€1 | 0.0% |
| Other operating charges | 640/8 | - | €1,924 | +€1,924 | |
| Gross operating margin | 9900 | €20,708 | €6,948 | -€13,760 | -66.4% |
| Operating profit (loss) | 9901 | €10,921 | -€4,763 | -€15,684 | |
| Financial income | 75/76B | - | €168 | +€168 | |
| Recurring financial income | 75 | - | €168 | +€168 | |
| Financial charges | 65/66B | €68 | €39 | -€30 | -43.4% |
| Recurring financial charges | 65 | €68 | €39 | -€30 | -43.4% |
| Profit (loss) for the period before taxes | 9903 | €10,852 | -€4,634 | -€15,486 | |
| Income taxes | 67/77 | - | €5,259 | +€5,259 | |
| Profit (loss) for the period | 9904 | €10,852 | -€9,893 | -€20,745 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,852 | -€9,893 | -€20,745 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.