SERT AUTO: 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.
SERT AUTO
Largest movements
- Receivables within one year +€19,328
up €19,328 (+149%), from €12,976 to €32,304
of which Trade receivables: +€20,045
- Stocks and contracts -€6,152
down €6,152 (-41.4%), from €14,850 to €8,698
- Intangible fixed assets -€714
no longer reported in 2025 (was €714)
- Cash +€451
up €451 (+111%), from €404 to €855
mainly Tax, wage and social debts (+€20,138) and Trade debts (+€19,331)
- Profit (loss) carried forward -€25,360
down €25,360 (-29.1%), from -€87,080 to -€112,439
- Tax, wage and social debts +€20,138
up €20,138 (+302%), from €6,674 to €26,812
of which Remuneration and social security: +€19,095
- Trade debts +€19,331
up €19,331 (+527%), from €3,669 to €23,000
- Other debts -€1,000
down €1,000 (-1.2%), from €82,639 to €81,639
- Gross operating margin -€19,830
down €19,830 (-1,522%), from -€1,303 to -€21,132
- Depreciation -€2,143
down €2,143 (-75.0%), from €2,857 to €714
- Other operating charges +€1,075
up €1,075 (+54.3%), from €1,979 to €3,054
- Financial charges -€304
down €304 (-39.6%), from €768 to €464
of which Financial charges: -€642
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 | €31,097 | €44,207 | +€13,110 | +42.2% |
| Fixed assets | 21/28 | €849 | €135 | -€714 | -84.1% |
| Intangible fixed assets | 21 | €714 | - | -€714 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €30,248 | €44,072 | +€13,824 | +45.7% |
| Stocks and contracts in progress | 3 | €14,850 | €8,698 | -€6,152 | -41.4% |
| Stocks | 30/36 | €14,850 | €8,698 | -€6,152 | -41.4% |
| Amounts receivable within one year | 40/41 | €12,976 | €32,304 | +€19,328 | +149% |
| Trade receivables | 40 | €12,259 | €32,304 | +€20,045 | +164% |
| Other amounts receivable | 41 | €717 | - | -€717 | |
| Cash at bank and in hand | 54/58 | €404 | €855 | +€451 | +111% |
| Deferred charges and accrued income | 490/1 | €2,018 | €2,214 | +€197 | +9.8% |
| Total equity and liabilities | 10/49 | €31,097 | €44,207 | +€13,110 | +42.2% |
| Equity | 10/15 | -€67,480 | -€92,839 | -€25,360 | -37.6% |
| 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 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Legal reserve | 130 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,080 | -€112,439 | -€25,360 | -29.1% |
| Amounts payable | 17/49 | €98,577 | €137,046 | +€38,469 | +39.0% |
| Amounts payable within one year | 42/48 | €98,577 | €137,046 | +€38,469 | +39.0% |
| Trade debts | 44 | €3,669 | €23,000 | +€19,331 | +527% |
| Suppliers | 440/4 | €3,669 | €23,000 | +€19,331 | +527% |
| Advances received on contracts in progress | 46 | €5,595 | €5,595 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,674 | €26,812 | +€20,138 | +302% |
| Taxes | 450/3 | €1,973 | €3,016 | +€1,043 | +52.9% |
| Remuneration and social security | 454/9 | €4,701 | €23,796 | +€19,095 | +406% |
| Other amounts payable | 47/48 | €82,639 | €81,639 | -€1,000 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,857 | €714 | -€2,143 | -75.0% |
| Other operating charges | 640/8 | €1,979 | €3,054 | +€1,075 | +54.3% |
| Gross operating margin | 9900 | -€1,303 | -€21,132 | -€19,830 | -1,522% |
| Operating profit (loss) | 9901 | -€6,139 | -€24,901 | -€18,761 | -306% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €768 | €464 | -€304 | -39.6% |
| Recurring financial charges | 65 | €768 | €126 | -€642 | -83.6% |
| Non-recurring financial charges | 66B | - | €338 | +€338 | |
| Profit (loss) for the period before taxes | 9903 | -€6,908 | -€25,360 | -€18,452 | -267% |
| Profit (loss) for the period | 9904 | -€6,908 | -€25,360 | -€18,452 | -267% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,908 | -€25,360 | -€18,452 | -267% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.