SERTISOL: 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.
SERTISOL
Largest movements
- Deferred charges and accrued income -€15,926
down €15,926 (-83.7%), from €19,036 to €3,110
- Tangible fixed assets -€15,557
no longer reported in 2025 (was €15,557)
- Cash -€7,733
down €7,733 (-18.7%), from €41,335 to €33,602
mainly Other debts (-€30,000) and Debts after one year (-€15,724)
- Receivables within one year +€6,504
up €6,504 (+6.3%), from €102,954 to €109,458
- Other debts -€30,000
no longer reported in 2025 (was €30,000)
- Debts after one year -€15,724
no longer reported in 2025 (was €15,724)
- Tax, wage and social debts +€11,607
up €11,607 (+161%), from €7,206 to €18,813
of which Remuneration and social security: +€7,450
- Current portion of long-term debt -€7,566
down €7,566 (-32.5%), from €23,290 to €15,724
- Profit (loss) carried forward +€6,093
up €6,093 (+16.8%), from €36,376 to €42,469
- Staff costs +€63,729
up €63,729 (+40.7%), from €156,618 to €220,348
- Depreciation -€14,808
down €14,808 (-48.8%), from €30,365 to €15,557
- Gross operating margin +€11,639
up €11,639 (+5.0%), from €232,070 to €243,709
- Financial charges -€9,005
down €9,005 (-91.2%), from €9,872 to €867
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 | €179,229 | €147,169 | -€32,060 | -17.9% |
| Fixed assets | 21/28 | €15,905 | €1,000 | -€14,905 | -93.7% |
| Tangible fixed assets | 22/27 | €15,557 | - | -€15,557 | |
| Plant, machinery and equipment | 23 | €15,557 | - | -€15,557 | |
| Financial fixed assets | 28 | €348 | €1,000 | +€652 | +187% |
| Current assets | 29/58 | €163,324 | €146,169 | -€17,155 | -10.5% |
| Amounts receivable within one year | 40/41 | €102,954 | €109,458 | +€6,504 | +6.3% |
| Trade receivables | 40 | €102,954 | €109,458 | +€6,504 | +6.3% |
| Cash at bank and in hand | 54/58 | €41,335 | €33,602 | -€7,733 | -18.7% |
| Deferred charges and accrued income | 490/1 | €19,036 | €3,110 | -€15,926 | -83.7% |
| Total equity and liabilities | 10/49 | €179,229 | €147,169 | -€32,060 | -17.9% |
| Equity | 10/15 | €99,556 | €105,649 | +€6,093 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,580 | €44,580 | = | 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% |
| Tax-exempt reserves | 132 | €42,720 | €42,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,376 | €42,469 | +€6,093 | +16.8% |
| Amounts payable | 17/49 | €79,673 | €41,520 | -€38,153 | -47.9% |
| Amounts payable after more than one year | 17 | €15,724 | - | -€15,724 | |
| Financial debts | 170/4 | €15,724 | - | -€15,724 | |
| Amounts payable within one year | 42/48 | €63,949 | €41,079 | -€22,870 | -35.8% |
| Current portion of amounts payable after more than one year | 42 | €23,290 | €15,724 | -€7,566 | -32.5% |
| Trade debts | 44 | €3,453 | €6,542 | +€3,089 | +89.4% |
| Suppliers | 440/4 | €3,453 | €6,542 | +€3,089 | +89.4% |
| Taxes, remuneration and social security | 45 | €7,206 | €18,813 | +€11,607 | +161% |
| Taxes | 450/3 | €1,834 | €5,992 | +€4,157 | +227% |
| Remuneration and social security | 454/9 | €5,371 | €12,821 | +€7,450 | +139% |
| Other amounts payable | 47/48 | €30,000 | - | -€30,000 | |
| Accrued charges and deferred income | 492/3 | - | €441 | +€441 | |
| Non-recurring operating income | 76A | €10,903 | €323 | -€10,580 | -97.0% |
| Remuneration, social security and pensions | 62 | €156,618 | €220,348 | +€63,729 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,365 | €15,557 | -€14,808 | -48.8% |
| Other operating charges | 640/8 | €1,396 | €585 | -€812 | -58.1% |
| Gross operating margin | 9900 | €232,070 | €243,709 | +€11,639 | +5.0% |
| Operating profit (loss) | 9901 | €43,691 | €7,220 | -€36,470 | -83.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,800% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,800% |
| Financial charges | 65/66B | €9,872 | €867 | -€9,005 | -91.2% |
| Recurring financial charges | 65 | €9,872 | €867 | -€9,005 | -91.2% |
| Profit (loss) for the period before taxes | 9903 | €33,819 | €6,355 | -€27,464 | -81.2% |
| Income taxes | 67/77 | €160 | €262 | +€102 | +63.9% |
| Profit (loss) for the period | 9904 | €33,659 | €6,093 | -€27,566 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,659 | €6,093 | -€27,566 | -81.9% |
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 13 October 2026 via checked.be.