SERTEC: 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.
What changed
SERTEC
NACE 71.209, Other technical testing and analysis
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€67,476
2023 · -€30,908-€36,568
Equity
€338,897
2023 · €406,373-€67,476
Cash
€74,518
2023 · €272,070-€197,552
Balance sheet total
€472,327
2023 · €778,583-€306,256
Largest movements
Assets
- Cash -€197,552
down €197,552 (-72.6%), from €272,070 to €74,518
mainly Short-term financial debts (-€124,010) and Trade debts (-€90,716)
- Receivables after one year -€87,955
no longer reported in 2024 (was €87,955)
- Tangible fixed assets -€24,293
down €24,293 (-9.3%), from €260,975 to €236,682
of which Furniture and vehicles: -€13,888
Equity and liabilities
- Short-term financial debts -€124,010
no longer reported in 2024 (was €124,010)
of which Other loans: -€107,229
- Trade debts -€90,716
down €90,716 (-76.6%), from €118,451 to €27,735
- Profit (loss) carried forward -€67,476
new in 2024: -€67,476
- Debts after one year -€30,353
down €30,353 (-41.2%), from €73,624 to €43,271
Income statement
- Gross operating margin -€39,312
down €39,312 (-5.2%), from €755,731 to €716,420
- Taxes +€19,392
up €19,392 (+1,915%), from €1,013 to €20,405
- Other operating charges -€8,570
down €8,570 (-55.4%), from €15,471 to €6,901
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.
Result 2023
-€30,908
Gross operating margin
-€39,312
Staff costs
+€3,837
Depreciation
+€3,790
Other operating charges
+€8,570
Other operating items
+€5,008
Financial income
+€152
Financial charges
+€780
Taxes
-€19,392
Result 2024
-€67,476
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€17,945
Investment
-€26,079
Financing
-€153,528
Cash 2023
€272,070
From operations (derived)
-€17,945
Net result for the year
-€67,476
Depreciation
+€50,372
Receivables after one year
+€87,955
Receivables within one year
-€5,088
Deferred charges and accrued income
+€1,544
Trade debts
-€90,716
Tax, wage and social debts
+€6,013
Accrued charges and deferred income
-€549
Investment (derived)
-€26,079
Investment in fixed assets (net)
-€26,079
Financing
-€153,528
Debts after one year
-€30,353
Current portion of long-term debt
+€835
Short-term financial debts
-€124,010
Cash 2024
€74,518
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €778,583 | €472,327 | -€306,256 | -39.3% |
| Fixed assets | 21/28 | €261,075 | €236,782 | -€24,293 | -9.3% |
| Tangible fixed assets | 22/27 | €260,975 | €236,682 | -€24,293 | -9.3% |
| Land and buildings | 22 | €137,847 | €134,602 | -€3,245 | -2.4% |
| Plant, machinery and equipment | 23 | €40,786 | €33,626 | -€7,160 | -17.6% |
| Furniture and vehicles | 24 | €82,342 | €68,454 | -€13,888 | -16.9% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €517,508 | €235,545 | -€281,963 | -54.5% |
| Amounts receivable after more than one year | 29 | €87,955 | - | -€87,955 | |
| Other amounts receivable | 291 | €87,955 | - | -€87,955 | |
| Amounts receivable within one year | 40/41 | €147,735 | €152,823 | +€5,088 | +3.4% |
| Trade receivables | 40 | €37,968 | €66,055 | +€28,088 | +74.0% |
| Other amounts receivable | 41 | €109,768 | €86,768 | -€23,000 | -21.0% |
| Cash at bank and in hand | 54/58 | €272,070 | €74,518 | -€197,552 | -72.6% |
| Deferred charges and accrued income | 490/1 | €9,748 | €8,204 | -€1,544 | -15.8% |
| Total equity and liabilities | 10/49 | €778,583 | €472,327 | -€306,256 | -39.3% |
| Equity | 10/15 | €406,373 | €338,897 | -€67,476 | -16.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €344,373 | €344,373 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €319,423 | €319,423 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€67,476 | -€67,476 | |
| Amounts payable | 17/49 | €372,210 | €133,430 | -€238,780 | -64.2% |
| Amounts payable after more than one year | 17 | €73,624 | €43,271 | -€30,353 | -41.2% |
| Financial debts | 170/4 | €73,624 | €43,271 | -€30,353 | -41.2% |
| Amounts payable within one year | 42/48 | €297,943 | €90,065 | -€207,878 | -69.8% |
| Current portion of amounts payable after more than one year | 42 | €51,657 | €52,492 | +€835 | +1.6% |
| Financial debts | 43 | €124,010 | - | -€124,010 | |
| Credit institutions | 430/8 | €16,781 | - | -€16,781 | |
| Other loans | 439 | €107,229 | - | -€107,229 | |
| Trade debts | 44 | €118,451 | €27,735 | -€90,716 | -76.6% |
| Suppliers | 440/4 | €118,451 | €27,735 | -€90,716 | -76.6% |
| Taxes, remuneration and social security | 45 | €3,825 | €9,838 | +€6,013 | +157% |
| Taxes | 450/3 | €1,810 | €9,519 | +€7,709 | +426% |
| Remuneration and social security | 454/9 | €2,015 | €319 | -€1,697 | -84.2% |
| Accrued charges and deferred income | 492/3 | €643 | €94 | -€549 | -85.4% |
| Non-recurring operating income | 76A | €67,878 | - | -€67,878 | |
| Remuneration, social security and pensions | 62 | €705,196 | €701,359 | -€3,837 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,162 | €50,372 | -€3,790 | -7.0% |
| Other operating charges | 640/8 | €15,471 | €6,901 | -€8,570 | -55.4% |
| Non-recurring operating charges | 66A | €5,008 | - | -€5,008 | |
| Gross operating margin | 9900 | €755,731 | €716,420 | -€39,312 | -5.2% |
| Operating profit (loss) | 9901 | -€24,105 | -€42,212 | -€18,107 | -75.1% |
| Financial income | 75/76B | €316 | €468 | +€152 | +48.0% |
| Recurring financial income | 75 | €316 | €468 | +€152 | +48.0% |
| Financial charges | 65/66B | €6,106 | €5,326 | -€780 | -12.8% |
| Recurring financial charges | 65 | €6,106 | €5,326 | -€780 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | -€29,895 | -€47,071 | -€17,175 | -57.5% |
| Income taxes | 67/77 | €1,013 | €20,405 | +€19,392 | +1,915% |
| Profit (loss) for the period | 9904 | -€30,908 | -€67,476 | -€36,568 | -118% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,908 | -€67,476 | -€36,568 | -118% |
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 16 October 2026 via checked.be.