SER TEAM: what changed
Two fiscal 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 TEAM
Largest movements
- Receivables within one year -€911,610
down €911,610 (-58.0%), from €1.6m to €659,172
of which Trade receivables: -€965,384
- Cash -€285,790
down €285,790 (-92.5%), from €309,051 to €23,261
mainly Trade debts (-€1.2m) and Tax, wage and social debts (-€90,950)
- Tangible fixed assets -€24,847
down €24,847 (-95.0%), from €26,141 to €1,294
of which Plant, machinery and equipment: -€16,922
- Trade debts -€1.2m
down €1.2m (-69.9%), from €1.8m to €531,021
- Accrued charges and deferred income +€96,285
new in 2024: €96,285
- Tax, wage and social debts -€90,950
down €90,950 (-64.2%), from €141,726 to €50,776
of which Taxes: -€91,866
- Profit (loss) carried forward -€24,715
down €24,715 (-5.3%), from €465,069 to €440,354
- Gross operating margin +€218,997
up €218,997 (+398.6%), from €54,946 to €273,943
- Write-downs +€134,309
new in 2024: €134,309
- Other operating charges +€107,649
up €107,649 (+8211.2%), from €1,311 to €108,960
- Staff costs +€25,815
up €25,815 (+336.6%), from €7,670 to €33,485
- Depreciation -€14,447
down €14,447 (-65.6%), from €22,026 to €7,579
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.
Cash bridge derived
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 | €2,389,221 | €1,138,896 | -€1.3m | -52.3% |
| Fixed assets | 21/28 | €40,526 | €16,466 | -€24,060 | -59.4% |
| Tangible fixed assets | 22/27 | €26,141 | €1,294 | -€24,847 | -95.0% |
| Plant, machinery and equipment | 23 | €18,216 | €1,294 | -€16,922 | -92.9% |
| Furniture and vehicles | 24 | €7,925 | - | -€7,925 | |
| Financial fixed assets | 28 | €14,385 | €15,172 | +€787 | +5.5% |
| Current assets | 29/58 | €2,348,695 | €1,122,430 | -€1.2m | -52.2% |
| Amounts receivable after more than one year | 29 | €433,954 | €433,954 | = | 0.0% |
| Other amounts receivable | 291 | €433,954 | €433,954 | = | 0.0% |
| Stocks and contracts in progress | 3 | €9,562 | - | -€9,562 | |
| Stocks | 30/36 | €9,562 | - | -€9,562 | |
| Amounts receivable within one year | 40/41 | €1,570,782 | €659,172 | -€911,610 | -58.0% |
| Trade receivables | 40 | €1,456,073 | €490,689 | -€965,384 | -66.3% |
| Other amounts receivable | 41 | €114,709 | €168,483 | +€53,774 | +46.9% |
| Cash at bank and in hand | 54/58 | €309,051 | €23,261 | -€285,790 | -92.5% |
| Deferred charges and accrued income | 490/1 | €25,346 | €6,043 | -€19,303 | -76.2% |
| Total equity and liabilities | 10/49 | €2,389,221 | €1,138,896 | -€1.3m | -52.3% |
| Equity | 10/15 | €485,529 | €460,814 | -€24,715 | -5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €465,069 | €440,354 | -€24,715 | -5.3% |
| Amounts payable | 17/49 | €1,903,692 | €678,082 | -€1.2m | -64.4% |
| Amounts payable within one year | 42/48 | €1,903,692 | €581,797 | -€1.3m | -69.4% |
| Trade debts | 44 | €1,761,966 | €531,021 | -€1.2m | -69.9% |
| Suppliers | 440/4 | €1,761,966 | €531,021 | -€1.2m | -69.9% |
| Taxes, remuneration and social security | 45 | €141,726 | €50,776 | -€90,950 | -64.2% |
| Taxes | 450/3 | €129,200 | €37,334 | -€91,866 | -71.1% |
| Remuneration and social security | 454/9 | €12,526 | €13,442 | +€916 | +7.3% |
| Accrued charges and deferred income | 492/3 | - | €96,285 | +€96,285 | |
| Non-recurring operating income | 76A | €34,089 | €10,917 | -€23,172 | -68.0% |
| Remuneration, social security and pensions | 62 | €7,670 | €33,485 | +€25,815 | +336.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,026 | €7,579 | -€14,447 | -65.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €134,309 | +€134,309 | |
| Other operating charges | 640/8 | €1,311 | €108,960 | +€107,649 | +8211.2% |
| Non-recurring operating charges | 66A | - | €7,688 | +€7,688 | |
| Gross operating margin | 9900 | €54,946 | €273,943 | +€218,997 | +398.6% |
| Operating profit (loss) | 9901 | €23,939 | -€18,078 | -€42,017 | |
| Financial income | 75/76B | €4,284 | €6,687 | +€2,403 | +56.1% |
| Recurring financial income | 75 | €4,284 | €6,687 | +€2,403 | +56.1% |
| Financial charges | 65/66B | €380 | €600 | +€220 | +57.9% |
| Recurring financial charges | 65 | €380 | €600 | +€220 | +57.9% |
| Profit (loss) for the period before taxes | 9903 | €27,843 | -€11,991 | -€39,834 | |
| Income taxes | 67/77 | €18,721 | €12,724 | -€5,997 | -32.0% |
| Profit (loss) for the period | 9904 | €9,122 | -€24,715 | -€33,837 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,122 | -€24,715 | -€33,837 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.