SERT TRANS: 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.
SERT TRANS
Largest movements
- Cash -€9,767
down €9,767 (-71.5%), from €13,661 to €3,894
mainly Trade debts (-€7,916) and Current portion of long-term debt (-€2,875)
- Tangible fixed assets +€1,750
new in 2025: €1,750
- Receivables within one year -€1,368
down €1,368 (-50.5%), from €2,711 to €1,342
of which Trade receivables: -€1,016
- Trade debts -€7,916
down €7,916 (-58.2%), from €13,599 to €5,683
- Current portion of long-term debt -€2,875
no longer reported in 2025 (was €2,875)
- Other debts +€1,949
new in 2025: €1,949
- Tax, wage and social debts -€1,031
no longer reported in 2025 (was €1,031)
- Profit (loss) carried forward +€489
up €489 (+6.6%), from -€7,444 to -€6,955
- Staff costs -€29,670
down €29,670 (-98.1%), from €30,236 to €567
- Gross operating margin -€14,981
down €14,981 (-70.2%), from €21,332 to €6,351
- Other operating charges +€1,288
up €1,288 (+49.5%), from €2,601 to €3,888
- Taxes -€1,142
no longer reported in 2025 (was €1,142)
- Financial charges -€993
down €993 (-65.1%), from €1,525 to €532
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.
Cash bridge derived
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 | €30,522 | €21,136 | -€9,386 | -30.8% |
| Fixed assets | 21/28 | €14,150 | €15,900 | +€1,750 | +12.4% |
| Tangible fixed assets | 22/27 | - | €1,750 | +€1,750 | |
| Furniture and vehicles | 24 | - | €1,750 | +€1,750 | |
| Financial fixed assets | 28 | €14,150 | €14,150 | = | 0.0% |
| Current assets | 29/58 | €16,372 | €5,236 | -€11,136 | -68.0% |
| Amounts receivable within one year | 40/41 | €2,711 | €1,342 | -€1,368 | -50.5% |
| Trade receivables | 40 | €1,016 | - | -€1,016 | |
| Other amounts receivable | 41 | €1,695 | €1,342 | -€353 | -20.8% |
| Cash at bank and in hand | 54/58 | €13,661 | €3,894 | -€9,767 | -71.5% |
| Total equity and liabilities | 10/49 | €30,522 | €21,136 | -€9,386 | -30.8% |
| Equity | 10/15 | €13,016 | €13,505 | +€489 | +3.8% |
| 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 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,444 | -€6,955 | +€489 | +6.6% |
| Amounts payable | 17/49 | €17,506 | €7,631 | -€9,874 | -56.4% |
| Amounts payable within one year | 42/48 | €17,506 | €7,631 | -€9,874 | -56.4% |
| Current portion of amounts payable after more than one year | 42 | €2,875 | - | -€2,875 | |
| Trade debts | 44 | €13,599 | €5,683 | -€7,916 | -58.2% |
| Suppliers | 440/4 | €13,599 | €5,683 | -€7,916 | -58.2% |
| Taxes, remuneration and social security | 45 | €1,031 | - | -€1,031 | |
| Taxes | 450/3 | €1,031 | - | -€1,031 | |
| Other amounts payable | 47/48 | - | €1,949 | +€1,949 | |
| Remuneration, social security and pensions | 62 | €30,236 | €567 | -€29,670 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €875 | +€875 | |
| Other operating charges | 640/8 | €2,601 | €3,888 | +€1,288 | +49.5% |
| Gross operating margin | 9900 | €21,332 | €6,351 | -€14,981 | -70.2% |
| Operating profit (loss) | 9901 | -€11,505 | €1,021 | +€12,526 | |
| Financial charges | 65/66B | €1,525 | €532 | -€993 | -65.1% |
| Recurring financial charges | 65 | €1,525 | €532 | -€993 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,030 | €489 | +€13,519 | |
| Income taxes | 67/77 | €1,142 | - | -€1,142 | |
| Profit (loss) for the period | 9904 | -€14,172 | €489 | +€14,660 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,172 | €489 | +€14,660 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.